MARGIT BRANDT TAKES US INSIDE THE MARKET
We’re so excited to talk about one of our favorite topics – living in Palm Beach!
Unless you’re an industry insider, Real Estate can be intriguing; but also a little daunting. And that’s why we love to bring you up close and personal, with people who know it best – and are willing to share their tips and tricks!
Enter Margit Brandt: an industry expert, an authority on all things Palm Beach, and a great friend of The Scout Guide.
Margit is a Senior Luxury Real Estate Advisor at Premier Estate Properties, the Christie’s International Real Estate affiliate in Palm Beach. Fun fact: she’s sold or pending in escrow over $330M between April 2021 and October 2022 (18 months)!
How’s that for numbers?
Margit has a deep understanding of the developer and investor landscape, while also being a trusted advisor to families and family offices making important personal decisions throughout Palm Beach.
We’ll let her take it from here.
TSG: It’s been a crazy past couple of years for real estate. Any stats or milestones you’re excited to share?
MB: We were very excited in 2022 to have sold or put under pending contract over $260M of total sales volume, with over 27% being off-market, an average transaction price of about $10M across 26 properties, and moreover a 42.5% growth rate from our 2021-2022 seasons. With that track record, we were pleased to be the youngest real estate advisor in the top 10 of individual (non-team) producers in Palm Beach. But of course the most rewarding part of the job is getting to visit our clients in their new homes once they are all settled in, and seeing the type of peace, stability, purpose, and excitement that comes with being a resident of the Palm Beach area.
TSG: With Real Estate being such a competitive market, what do you feel sets Margit Brandt apart?
MB: A few things. First, client relationships. In a business that is known for being hyper transactional, we try to create a feel of our clientele genuinely being part of an extended family, and having those authentic friendships that go beyond the home search or sale. Second, be willing to invest heavily in a diverse and strategic multi-channel marketing platform. What that means is that our clients understand we won’t just take a few photos, post it on MLS, and hope for the best. We’ll instead employ a comprehensive approach that includes outreach to multiple feeder markets, brokerage relationships both locally and globally, widespread paid advertising across important mediums, and our own organic email and social media efforts. Our Instagram page is one of the most followed and engaged with in the Palm Beach market, and our email newsletter reaches thousands of the most targeted recipients. Third is momentum. Our growth rates from 2020-2021 and 2021-2022 have not just mirrored the market, but gone above and beyond the norms, so we have a lot of new clients coming into the fold and I think this type of domino effect makes it exciting to be a Margit Brandt client. Fourth would be the off-market. We’ve really excelled in the off-market and a lot of those efforts have produced strong returns for our clients – whether they intended to invest/develop or not. Finally, I think with the age and youth of our team comes a lot of fresh energy and modern approaches to the business, including a steadfast work ethic. Providing clients with a white-glove, concierge-style approach to real estate advisory is more important than ever. Clients want to feel like you’re really going above and beyond to earn the opportunity, and that’s something we pride ourselves on doing.
TSG: What are your top 3 “do’s” for buying a home in the current market?
MB: 1) Call me, 2) Take the time to find value in the market, 3) Be open-minded to locations that may have not originally been your priority. The area is changing rapidly and there are lots of great opportunities in places you wouldn’t expect.
TSG: Top 3 “don’ts” for sellers?
1) Don’t say no to professional staging if your asset is priced over $3M
2) If the property is off-market, have one point of contact who is running the process
3) Make sure you are happy with the content and language being used to market the property
TSG: Any current listings you’re particularly excited about?
MB: We have an interesting portfolio at the moment which is a hybrid of Palm Beach Island and coastal West Palm Beach. On the island, we have 219 Brazilian Ave which is one of the only like-new construction and fully turn-key large homes on the island. It’s a 6092 sq ft mid-island townhome that is Marc Michaels furnished, steps from all the best things about Palm Beach, and listed at $19.999M. We also have 248 Park Avenue on the island — a quintessential beach bungalow that is the best priced SFH on the island at $3.95M. Over in coastal West Palm Beach, we have the two most prime new construction homes in the hot “SoSo” (South of Southern) neighborhood. 334 Murray is a modern farmhouse listed at $5.65M and 250 Miramar Way is a Coastal/California Contemporary listed at $5.99M. Both were just completed in January 2023. Finally, 223 8th St is the best value SFH with water views of Palm Beach Island and overlooking the beautiful Palm Beach Yacht Club boat marina, priced at $3.99M. It comes with a great private guest cottage and large pool. Of course, some of our most exciting opportunities are the ones in the off-market, so reach out to us for more information on those private exclusives.
TSG: What are some ‘neighborhoods to watch’?
MB: The top growth neighborhood right now is probably “South of Southern” in coastal West Palm Beach. Without having the lower price points of Northwood or the historic regulations of El Cid, it is seeing exceptional growth due to its quieter lifestyle being on the South End of WPB, a brand new paved road along S Flagler, a great walking/bike path along the Intracoastal, the newly completed Southern bridge, and the soon-to-be-completed WPB golf course.
TSG: We know you have quite the team – can you share a bit about that?
MB: It takes a village! Our team is structured as a single-agent operation, with a team of 4 assistants who handle various aspects of the business and with rotating schedules so that we have options 7 days a week. They help me with advance (showings prep), operations, marketing and advertising, logistics, property management, and business development/strategic growth. Teamwork really does make the dream work and I know that without delegating strategically, there would be no way to make it all work, so we’re grateful and thankful for our crew.
TSG: What, in your opinion, makes the Palm Beach market so unique?
MB: It’s resiliency, made possible by unique supply and demand dynamics. Palm Beach offers the experience of living in the Bahamas coupled with the amenities of Floridian and American infrastructure. The special combination of tax advantages, weather, free movement for people and businesses, education and recreation options, and evolving culture are making it one of the most desirable places to live in the world.
TSG: What surprised you most about 2022 results?
MB: While 2022 was record-breaking in many respects,
the second half of the year was generally very light in terms of demand and volume. Transaction prices remained consistent but frequency and market activity certainly dropped.
TSG: Any trends you’re anticipating for 2023?
MB: There is some evidence that the bottom of the real estate cycle may be behind us, while other factors like a continued rise in interest rates could sustain the normalcy and buyers market dynamic at play now. Overall, whether it’s Q1-Q2 or Q4, Palm Beach is ripe for an uptick in transactions and continued stability in pricing, along with potentially some new appreciation.
TSG: How does partnering with The Scout Guide impact your business?
MB: The Scout Guide is a great resource, connecting us with the next generation of clients, vendors, and partners. Getting our brand and story in front of the right audience helps us get our properties strategic exposure and visibility. Thank you, Scout Guide!
Or, Call 561.545.7386 and follow her on Instagram @margitbrandtpalmbeach