Real Estate Leaders Gather at The Ritz-Carlton Sarasota to Discuss Industry Trends and Successes
The Realty Alliance Members Discuss Real Estate Trends at Exclusive Meeting
Real estate executives from across North America gathered at The Ritz-Carlton Sarasota for a three-day meeting to discuss the state of the real estate industry. The members of The Realty Alliance, a prestigious invitation-only network of real estate firms, shared insights on how they collectively closed $310 billion in real estate transactions last year.
Michael Saunders, the founder and CEO of Sarasota-based Michael Saunders & Company, hosted a private breakfast meeting for select real estate leaders from Cincinnati, Chicago, Milwaukee, Miami, and Naples. These executives represent companies that drive business to the Sarasota/Tampa Bay area and discussed market trends and buyer preferences.
Despite strong buyer demand, some areas, particularly in the Midwest, are facing a decrease in sales due to a lack of inventory. Stephen Baird, the president and CEO of Baird & Warner in Chicago, noted that listings in his area are down by 50% compared to the previous year, leading to a shortage of available properties for sale.
In contrast, Florida remains a hot spot for homebuyers, with desirable weather and an active lifestyle attracting out-of-state buyers. Ron Howard, the vice president of sales for John R. Wood Christies International Real Estate in Naples, reported that his market is performing well, with increased inventory and closed sales.
The executives highlighted the appeal of Southwest Florida’s Gulf Coast, citing beautiful beaches, cultural arts, and a laid-back lifestyle as key factors driving buyers to the region. They also noted that sought-after home features include spacious open floor plans, outdoor living spaces, and flexible work/play areas.
Saunders emphasized the importance of building trusted relationships with other independent real estate companies through networks like The Realty Alliance. These connections help facilitate referrals and bring buyers from across the country to the Sarasota area.
The meeting also served as a reminder of the power of personal connections in the real estate industry. Robin Sheakley, the president of Sibcy Cline Realtors in Cincinnati, shared a story of receiving a text from a friend looking to buy a house in Sarasota while attending a dinner party at Saunders’ home. This unexpected connection highlights the role that networking plays in the real estate business.
Overall, the gathering of The Realty Alliance members provided valuable insights into the current state of the real estate market and the factors driving buyer behavior in different regions across North America.