Melissa Miller has spent the last two decades developing and educating herself in all aspects of Real Estate from Residential to Commercial. With over 10 years in Real estate Financing as a Mortgage Broker, it was suggested to her that, with her skill set, background and personality that she would do well on the frontlines as a Real Estate Agent. There was no safety net or security of income in being a real estate agent; it was truly a start up business where she would have to take the necessary steps to grow the business if she would expect to see any success.
After investing years in Real Estate education, she was able to attain over 10 Real Estate designations achieved only by the top 1% of Real Estate agents nationwide including Certified Residential Specialist (CRS), Accredited Commercial Practitioner (ACP), Accredited Buyer Specialist (ABS) to name a few. She has been recognized by REAL Trends/Wall Street Journal as “America’s Best Agent” for the past two years and by RE/MAX International with the Chairman’s Club Award.
Traveling to many countries such as the Caribbean, Europe, Italy, Japan, and all across the U.S, she has been able to build her business as a Real Estate Consulting Firm with a network of agents and clientele both nationally and internationally. Living in the South Florida area for over 30 years, she is an expert in the local areas of Miami, Fort Lauderdale, and the surrounding areas.
With extensive experience in mortgage financing, she has been able to assist clients that may not have thought it possible to attain the dream of a new home. Real Estate is constantly changing and you must be willing to stay connected to all of the changes. The clients are expecting when they work with us that we are experts in negotiations and the process. They want a smooth transaction from contract to close and only an experienced agent can provide that with confidence.
What are the biggest real estate trends we will see in 2018?
The biggest trend that we see right now is the emergence and take over of Millennials in the Real Estate market. Millennials are now the largest demographic purchasing homes with over $500 million over the last year according to Zillow reports. Millennials are now settling into their jobs, getting married and having families, they are ready to settle down. They prefer newer construction/smart homes.
The market is much more stable than years past and interest rates are still at historical lows making this the perfect time to purchase a home. However, interest rates are expected to rise later in the year 2018 making affordability an issue. Millennials also appreciate the expertise and convenience that being represented by a Realtor gives them. They are much more likely to spend time researching homes online first and then reach out to a Realtor once they have done their due diligence by narrowing down their options first. They want convenience in every way. Millennials prefer brand new homes so that they are not concerned with deferred maintenance, remodeling and repair issues that may arise from having an older home. They also have more student loan and credit card debt so funds are limited for down payment so they are not interested in taking on a fixer upper.
All indications are that we will see slower home value growth than previous years. Home prices have been ascending at a rate of over 6% a year since 2011 but the predictions are that it will slow to 4% in 2018. We can attribute this in part to sellers making the decision to stay in their homes and simply renovate for a newer home feel. More sellers will then reach into their home equity that they have accumulated and get an equity line of credit to make those home improvements
Many of the predictions for 2017 did not materialize. Low Inventory is still a concern and interest rates still remain relatively low. Fortunately, there is a lot of optimism surrounding Real Estate for the year ahead. We are expecting many to finally get off ledge and make the decision to sell their homes. This will certainly help to loosen the tight inventory. The hope of new construction helping to relieve some of the constriction in the market today fell far short. The need for housing for entry level buyers are just not there.
Builders find high end construction to be more profitable so the lack of inventory remains for entry level buyers driving up the prices.. All indications are that the interest rates will rise slightly in 2018. Buyers will also see the opportunity to jump into the market before they get priced out of the market and mortgage payments become unaffordable. Sellers will feel the need to sell their home so that they can upsize or downsize and take advantage of the still historically low interest rates.
Your agency offers concierge services. What does that entail exactly?
The Melissa Miller Group offers the client a “one-stop shop” when it comes to buying Real Estate. As the Real Estate Consultants of choice for many Corporate Executives, Professional athletes, entertainers, these individuals are able to leave the complete process of relocating to the South Florida area to our team. We do not disclose our high profile clients names, as they count on us for discretion and privacy.
Locating the perfect home is just the beginning, out of town buyers then need to line up moving and shipping services, they need to know their options for schools for their children, local childcare/nanny service and housekeeping services. Selling their home back home is taken care of by our highly professional and experienced agent partners in all 50 states and in 110 countries around the world. We have also connected sports/entertainment and Corporate executive clients to financial advisors that can help guide them with long term planning before they finalize their plans for purchasing a home.
Concierge service is about convenience for those who live busy and demanding lives. They want to leave the finer details to professionals that have relationships with the best vendors and service providers in the area. They will come to the area for a few days to find their dream home. We have arranged for transportation, whether it’s a private jet or limousine pick up at the airport and we will provide them with a complete area orientation to familiarize them with the different areas that match their needs and lifestyle.
Once they select their home, you no longer need to be in town to close on the home. In fact, we have had clients overseas purchase a home online based only on the photos and videos. So if you are too busy to come in town and don’t want to miss viewing a home that might be perfect for you, we will arrange for a personal video tour. You can purchase a beautiful luxury home and our interior designers can furnishing the home, and our contractors can design a state of the art Home theater, lighting and security systems..
What has been the biggest challenge you've encountered as an entrepreneur?
As an entrepreneur, the biggest challenge is to know the needs of your customers and be ready to provide that service, keeping the growth of your business in mind. Being an expert in your field requires that you research consumer reports and know what your clients want. For example, studies have shown that communication is the number one complaint of customers so your business should be centered around regular communication with your customers. Getting their feedback and suggestions will keep them coming back and referring you to their sphere of influence.
Our clients know that we are able to dedicate our time to providing them with above and beyond service, instead of on the streets looking for new business, when they refer us to others. By the time we are ready to close the deal, they have already referred us to one or two of their friends. Business can then grow exponentially.
The challenge then becomes keeping the quality service as your business begins to grow. This is when adding additional members to your team that has the same commitment to service and fits within the culture of your business and dedicated to your mission statement and vision. Staying two steps ahead and knowing when you are at capacity for providing quality service is important so that service does not suffer. Exceeding expectations is the key to business growth no matter what line of business you may be in.
What is the best piece of advice you have an aspiring entrepreneur?
Becoming a successful entrepreneur for me has been an exercise in conquering fear. Being an entrepreneur is not for the faint of heart, you must know that on this road you will have challenges that will discourage you early on. I have had many fears to conquer on the path to success…
-Fear of Competition – What competition? No one can operate your business the way you can, no one can relate to your clients the way that you can. No matter what service you offer or what industry you may be in, you are unique and there will always be clientele that would prefer to work with you over another business.
-Fear of Failure – Be prepared for disappointments and rejection. Rejection gets you one step closer to a successful sale. Don’t be afraid to ask why they have chosen another option and take note for the future.
- Fear of letting go – You have built a successful business your clients love you and now you have so many clients that you need help. You need to learn to hire the right people that have similar values and character. They should fit into the culture of your business and you will delegate the lower level tasks so that you can focus on the most important part of growing your business which is building relationships with your clients
Conquer your fears and there is nothing that can stop you from developing and growing a successful business.
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