{"id":3610200,"date":"2016-05-24T16:19:40","date_gmt":"2016-05-24T20:19:40","guid":{"rendered":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/?p=3610200"},"modified":"2016-05-31T11:03:04","modified_gmt":"2016-05-31T15:03:04","slug":"haute-residences-miami-luxury-real-estate-design-summit-recap-next-generation-of-power-panel-discussion","status":"publish","type":"post","link":"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/haute-residences-miami-luxury-real-estate-design-summit-recap-next-generation-of-power-panel-discussion\/","title":{"rendered":"Haute Residence\u2019s Miami Luxury Real Estate &#038; Design\u00a0Summit Recap: \u2018Next Generation of Power\u2019 Panel Discussion"},"content":{"rendered":"<p><iframe src=\"https:\/\/player.vimeo.com\/video\/168034486\" width=\"640\" height=\"270\" frameborder=\"0\" webkitallowfullscreen mozallowfullscreen allowfullscreen><\/iframe><\/p>\n<p>Taking place Friday, May 13, at 1 Hotel &amp; Homes in Miami Beach, Haute Residence\u2019s <a href=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/haute-residence-invites-you-to-its-2nd-annual-miami-luxury-real-estate-design-summit\/\">annual Miami Luxury Real Estate &amp; Design Summit<\/a> featured three panels, which brought some of the biggest names in luxury real estate together for discussions on the current trends in luxury real estate, personal success stories, and what\u2019s next for Miami\u2019s real estate market.<\/p>\n<figure id=\"attachment_3610208\" aria-describedby=\"caption-attachment-3610208\" style=\"width: 900px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/6s.jpg\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-3610208 size-full\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/6s.jpg\" alt=\"Danny Hertzberg, Tony Rodriguez Jr, Daniel de la Vega, Senada Adzem, Oren Alexander, Nathan Zeder, Julian Cohen\" width=\"900\" height=\"600\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/6s.jpg 900w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/6s-300x200.jpg 300w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><\/a><figcaption id=\"caption-attachment-3610208\" class=\"wp-caption-text\">Danny Hertzberg, Tony Rodriguez Jr, Daniel de la Vega, Senada Adzem, Oren Alexander, Nathan Zeder, Julian Cohen<\/figcaption><\/figure>\n<p>Moderated by<strong> <a href=\"http:\/\/hauteliving.com\/2015\/10\/inside-the-one-sothebys-and-miami-heat-partnership\/589529\/\">Daniel de la Vega<\/a><\/strong>, president of <a href=\"http:\/\/www.onesothebysrealty.com\/\" target=\"_blank\">ONE Sotheby\u2019s International Realty<\/a><em>, <\/em>the \u201cNext Generation of Power\u201d panel kicked off the summit and featured <strong>Senada<\/strong>\u00a0<strong>Adzem<\/strong>\u00a0(<a href=\"https:\/\/www.elliman.com\/\" target=\"_blank\">Douglas Elliman<\/a>)<strong>,\u00a0<a href=\"http:\/\/hauteliving.com\/2015\/10\/real-estate-michael-capponi-oren-alexander-announce-new-flamingo-drive-residence\/590145\/?market=new-york\/3\/\">Oren Alexander<\/a><\/strong>\u00a0(Douglas Elliman)<strong>, Julian Cohen\u00a0<\/strong>(<a href=\"http:\/\/www.juliancohengroup.com\/\" target=\"_blank\">Julian Cohen Group<\/a>),<strong>\u00a0Danny Hertzberg\u00a0<\/strong>(<a href=\"http:\/\/www.thejills.com\/\" target=\"_blank\">The Jills<\/a>)<strong>, Tony Rodriguez<\/strong>\u00a0(<a href=\"http:\/\/www.prestigerg.com\/\" target=\"_blank\">Prestige Realty Group<\/a>), and\u00a0<strong>Nathan Zeder\u00a0<\/strong>(<a href=\"http:\/\/www.ewm.com\/\" target=\"_blank\">EWM Realty International<\/a>). The panelists discussed the techniques of bringing in international buyers and conquering cultural differences, but also stressed the importance of the local buyer.<\/p>\n<p><strong>Daniel de la Vega<\/strong><strong>:<\/strong> <strong>Is Instagram the most effective form\u00a0of social media right now for you guys? What would you say is the most effective?<\/strong><\/p>\n<p><strong>Tony Rodriguez:<\/strong> Snapchat for me\u2013\u2013we don\u2019t use it. We like Instagram. Twitter is really dying.<\/p>\n<p><strong>Oren Alexander:<\/strong> You basically have to cover all bases, whether it&#8217;s print, media, or social media. I still feel the most effective form of marketing is direct communication. I make it a point to basically travel around the world to various events where there is probably a high concentration of high-end net worth individuals\u2026 The relationship in those different industries\u2013\u2013whether it&#8217;s in film or art with various agents, advisors, consultants, or dealers\u2013\u2013they\u2019re real relationships.<\/p>\n<p><img decoding=\"async\" class=\" size-full wp-image-3610202 aligncenter\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/473.jpg\" alt=\"4\" width=\"512\" height=\"768\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/473.jpg 512w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/473-200x300.jpg 200w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/p>\n<p><strong><strong>Daniel de la Vega<\/strong><strong>:<\/strong> <\/strong><strong>So what you\u2019re saying is, the fundamentals of our industry aren\u2019t going to change and that\u2019s that we are in a relationship business?<\/strong><\/p>\n<p><strong>Alexander:<\/strong> I think it depends on what price points. I think there\u2019s obviously been some new technology coming into the market to try to kind of lower the role of the broker. I think that our specific price point\u2013\u2013at the higher end of the market\u2013\u2013is definitely a relationship business.<\/p>\n<p><strong>Danny Hertzberg: <\/strong>I took the time to educate agents in my office and to teach them how to effectively use their platforms rather than just using networks. That then turned into speaking opportunities at other offices, and from that, I spoke at the National Association of Realtors and other conventions. Through educating the industry, I built a lot of these relationships around the country and the world.<\/p>\n<p><strong>Julian Cohen:<\/strong> Of course, the press is extremely important. You all advertise; you all should pay for Haute Living and all the other ads. It gives you fantastic exposure. However, for me, it&#8217;s been Instagram that has been quite the success recently.<\/p>\n<figure id=\"attachment_3610203\" aria-describedby=\"caption-attachment-3610203\" style=\"width: 512px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/565.jpg\"><img decoding=\"async\" class=\"wp-image-3610203 size-full\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/565.jpg\" alt=\"Oren Alexander, Julian Cohen\" width=\"512\" height=\"768\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/565.jpg 512w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/565-200x300.jpg 200w\" sizes=\"(max-width: 512px) 100vw, 512px\" \/><\/a><figcaption id=\"caption-attachment-3610203\" class=\"wp-caption-text\">Oren Alexander, Julian Cohen<\/figcaption><\/figure>\n<p><strong><strong>Daniel de la Vega<\/strong><strong>:<\/strong> <\/strong><strong>The global buyers\u2013\u2013where are you seeing them coming from now? <\/strong><\/p>\n<p><strong>Nathan Zeder: <\/strong>In the last six months, we\u2019ve shown to more people from Asia, China, and Japan than we\u2019ve probably had in the past three to six years, combined. It\u2019s an interesting trend\u2026 The Asian market has been a really big player in the commercial side here, but not necessarily in the residential. We personally are believers that it\u2019s where the big influx of foreign buyers is going to come from.<\/p>\n<p><strong>Senada Adzem: <\/strong>We\u2019ve had several clients recently come to us from Switzerland and from Belgium, because of the security concerns that they have been a result of very unfortunate recent events\u2026 Interestingly, most of our Swiss clients want to be in Miami, and most of our clients from England want to be in Palm Beach; so I&#8217;ve started noticing differences as to where they\u2019re from correlating to where they exactly want to be in Florida.<\/p>\n<p><strong>Rodriguez:<\/strong> My business partner is from London, so we do have a lot of buyers coming from London, but I see in the next couple of years that a lot of Chinese buyers are going to continue, and it\u2019s going to grow. The reason is, China has made a lot of money in the past six to seven years. They&#8217;ve gotten a lot of new millionaires in their country. The Chinese now are going to have trouble in their own country with their wealth. I think a lot of them are really desperate to diversify their portfolios and to get their money out of their country; and a lot of them are really looking at the United States. They&#8217;ve been looking at New York for years, and now, with these new direct flights from China coming in to Miami, I think that\u2019s really going to help us.<\/p>\n<figure id=\"attachment_3610205\" aria-describedby=\"caption-attachment-3610205\" style=\"width: 900px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-3610205 size-full\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/3s.jpg\" alt=\"Nathan Zeder, Tony Rodriguez Jr., Danny Hertzberg, Julian Cohen, Oren Alexander, Senada Adzem\" width=\"900\" height=\"600\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/3s.jpg 900w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/3s-300x200.jpg 300w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><figcaption id=\"caption-attachment-3610205\" class=\"wp-caption-text\">Nathan Zeder, Tony Rodriguez Jr., Danny Hertzberg, Julian Cohen, Oren Alexander, Senada Adzem<\/figcaption><\/figure>\n<p><strong><strong>Daniel de la Vega<\/strong><strong>:<\/strong> <\/strong><strong>Where are the buyers coming from domestically? <\/strong><\/p>\n<p><strong>Zeder: <\/strong>Domestically, most of our buyers are from Miami and stay within Miami. That\u2019s what we\u2019re seeing\u2026 I guess, outside of Miami, domestically, it would be from New York.<\/p>\n<p><strong>Adzem: <\/strong>Most of our buyers are from the North East and from Europe. In terms of the North East, it\u2019s really New York and the tristate area. There are a lot of people from Connecticut. We also get people from Boston, Philadelphia, or Pennsylvania, Washington D.C, and all of the North East. They obviously love having a second or third home in Florida, but what more and more people are talking about is the tax situation.<\/p>\n<p><strong>Hertzberg:<\/strong> What\u2019s come into play is a lot from the northeast corridor of New York, New Jersey, and Connecticut. A lot of the New York purchases, as previously mentioned, are tax driven. They want to establish residence in Florida. We see a lot from California for the same reason, high taxes. We\u2019re also seeing a shift of many of the local buyers, and not just Miami, but coming from Naples, Palm Beach, and Fort Lauderdale.<\/p>\n<p><strong>Alexander:<\/strong> Definitely New York. There\u2019s no secret with all that\u2019s happening in the world today, the strength of the dollar, and the attraction to Miami from New York. I personally live in New York for half of my week. I\u2019ve done deals where I\u2019ve literally sold someone\u2019s apartment in SoHo and then represented them here on a purchase in Bal Harbour. We all know the great reasons there are to live here, but of course, the tax purpose has been very, very strong over here.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-3610206\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/2s.jpg\" alt=\"2s\" width=\"702\" height=\"468\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/2s.jpg 900w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/2s-300x200.jpg 300w\" sizes=\"(max-width: 702px) 100vw, 702px\" \/><\/p>\n<p><strong><strong>Daniel de la Vega<\/strong><strong>:<\/strong> <\/strong><strong>How do you actually source these buyers when you\u2019re traveling to other countries and meeting with them? How do you service them? Do you have to adhere to some of what they\u2019re used to locally and in their cultur? <\/strong><\/p>\n<p><strong>Cohen:<\/strong> When it comes to dealing with people, they want to feel comfortable. You\u2019re selling them probably the biggest asset that they have, so you have to really make them feel comfortable with what they\u2019re doing and doing that with you. I think that\u2019s very important.<\/p>\n<p><strong>Adzem:<\/strong> The trick to sourcing clients internationally is really having a great relationship with them. Having logistic relationships with attorneys, accountants, and with really any trusted advisor to extremely wealthy people. In order for high wealth clients to trust you, someone they trust has to trust you. You\u2019re trusted by association. A lot of times I\u2019ll set up meetings with all the top accountants in whatever city I\u2019m going to, and then I\u2019ll ask my clients for suggestions and introductions in those particular cities. I think that\u2019s the key. In terms of servicing clients and cultural sensitivity, I understand Czech and Russian, and so I can relate on many different levels. Clients really appreciate that. At least when you make an effort, even if you don\u2019t speak the language, to just be sensitive to their costumes and ways of communication, it can play a big role.<\/p>\n<p><strong>Hertzberg:<\/strong> I think it\u2019s important and definitely helpful to understand different cultures and different languages. A lot of what I\u2019ve seen is the same standard that how you want to be treated is how you want to be treated. A lot of times respect goes beyond language and cultural understanding. In working with those markets, I think what was said before with those relationships is that they transcend cultural differences. The personal introduction and getting face-to-face, as they said, is a critical component.<\/p>\n<p><strong>\u00a0<img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-large wp-image-3610204\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/7s.jpg\" alt=\"7s\" width=\"702\" height=\"468\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/7s.jpg 900w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/7s-300x200.jpg 300w\" sizes=\"(max-width: 702px) 100vw, 702px\" \/><\/strong><\/p>\n<p><strong><strong>Daniel de la Vega<\/strong><strong>:<\/strong> <\/strong><strong>What do you guys foresee the next 12 months looking like as far as buyers coming to South Florida?<\/strong><\/p>\n<p><strong>Alexander:<\/strong> If you have the best product, in the best location, you have nothing to worry about. Unfortunately, we went through such a boom where there were a lot of houses that were built or overbuilt on lots that weren\u2019t so great. Penthouses built in buildings that weren\u2019t so great, and I think that those types of products won\u2019t do so well.<\/p>\n<p><strong>Hertzberg:<\/strong> From my perspective, what we\u2019re seeing is a correction in pricing. Right now I think price is a huge driver\u2013\u2013every price point in every area. It\u2019s always a big factor in the market, but now more than ever. I think what we have now is a lot of price sensitivity in the market. You\u2019re seeing properties come down from certain prices, even more so in the condos than the single-family homes. As they are hitting certain price points, they&#8217;re disappearing. If you look at the sales for the last 30 days, 75 percent of them sold with price reductions. So you\u2019re seeing homes hit the market, condos hit the market, even projects that are decreasing, until they hit a certain point, and then they\u2019re gone.<\/p>\n<figure id=\"attachment_3610207\" aria-describedby=\"caption-attachment-3610207\" style=\"width: 900px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-3610207 size-full\" src=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/1s.jpg\" alt=\"Nathan Zeder, Tony Rodriguez Jr., Danny Hertzberg, Daniel de la Vega, Julian Cohen, Oren Alexander, Senada Adzem\" width=\"900\" height=\"600\" srcset=\"https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/1s.jpg 900w, https:\/\/newwebdev.wordpress-developer.us\/hauteresidence\/wp-content\/uploads\/2016\/05\/1s-300x200.jpg 300w\" sizes=\"(max-width: 900px) 100vw, 900px\" \/><figcaption id=\"caption-attachment-3610207\" class=\"wp-caption-text\">Nathan Zeder, Tony Rodriguez Jr., Danny Hertzberg, Daniel de la Vega, Julian Cohen, Oren Alexander, Senada Adzem<\/figcaption><\/figure>\n<p><strong><strong>Daniel de la Vega<\/strong><strong>:<\/strong> <\/strong><strong>Where do you see the buyers coming from in the next few months? <\/strong><\/p>\n<p><strong>Cohen:<\/strong> I think the Colombian people\u2013\u2013if you look at the numbers, they\u2019ve been purchasing a lot over the past couple months. A lot more than the Brazilians have. They kind of took over, and even though they have a smaller country, there\u2019s a good amount of wealth that\u2019s coming from there. The Colombians love our city, so I think that\u2019s a big place that we\u2019re going to be seeing business come from as well.<\/p>\n<p><strong>Rodriguez:<\/strong> We\u2019ve been reaching out and doing a lot of international marketing, but I think for the next 12 months, we\u2019re going to focus on the local buyer, the Miami buyer, and really all across the U.S.. We don\u2019t have to always reach out internationally. We need to start investing money into our own United States market.<\/p>\n<p><strong>Zeder:<\/strong> It\u2019s really the personal connections that you have in town that I think are the strongest buyers over the next 12 months, because right now it\u2019s the local buyers on the sidelines who are active. They\u2019re the ones who live here, they understand more than anyone else what&#8217;s been going on in the market. They&#8217;ve seen these prices go crazy. I think there are still great opportunities to come and it\u2019s those local buyers that are going to have full advantage.<\/p>\n<p><strong>Adzem:<\/strong> I think there are major macro forces at play right now and depending how they play out over the next year, it\u2019s going to determine where the buyers come from. What I\u2019ve seen lately it&#8217;s a political impact, it\u2019s currency fluctuation, and very importantly, it\u2019s what\u2019s going to happen in the election. There\u2019s a sort of apprehension by many buyers, and that\u2019s going to impact a lot.<\/p>\n<p><em>Photography by David Heischrek\/DHPA<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Haute Residence\u2019s Miami Luxury Real Estate &#038; Design Summit&#8217;s &#8220;Next Generation of Power&#8221; panel featured discussions on the trends of international buyers and the importance of the local buyer.<\/p>\n","protected":false},"author":74,"featured_media":3610208,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1749,1],"tags":[],"class_list":["post-3610200","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-hlrn","category-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Haute Residence\u2019s Miami Luxury Real Estate &amp; 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