Michael J. Martinez is the senior vice president of ONE Sotheby’s International Realty in Coral Gables

Every week, we ask a Miami real estate professional for their thoughts on the top three stories from the week before.

This week, we talked with Michael J. Martinez, the senior vice president of ONE Sotheby’s International Realty in Coral Gables. An expert in luxury single-family and condo properties, Michael sold more than $18 million in real estate in 2012, and has completed more than 600 transactions in his 13 years in the business.

Miami Agent (MA): Miami is one of the most popular real estate markets in the U.S. for international homebuyers; can you talk a little bit about what is attracting so many homebuyers from around the world to Miami?

Michael J. Martinez (MJM): Miami has become the capitol of Latin America. We are experiencing that this is becoming South America’s back yard. The freedom that they have here is impressive, as is the fact that they can own expensive cars, watches, etc. They have a metropolis in Miami, and they’re coming to Miami not only for second or third homes, but their primary homes, as well.

Since early 2004, we have been targeting South American markets. We have been riding that wave for almost 10 years now. We traveled personally from Mexico all the way to Argentina, picking up more buyers who are interested in Miami. So in 2011 [when the foreign market really took off], we were in the right position.

MA: All that demand, though, has created very tight inventory throughout Miami-Dade. Have you found inventory to be particularly tight in any markets?

MJM: There’s a saying in real estate of “location, location, location,” and it’s very true. So anywhere in Pinecrest, Coral Gables, Coconut Grove, Brickell – we’re seeing all of our markets have low inventory. Property comes on the market, and regardless of its price point, whether it’s $300,000 or $2 million, there are multiple offers. It’s become a seller’s market. Seller’s are able to control the market and choose an offer that suits their needs.

MA: And finally, our story on Miami as one of the most pet-friendly cities in the U.S. garnered quite a bit of attention from our readers. Is this a quality you’ve recognized in Miami during your real estate transactions?

MJM: For starters, I’m a pet lover myself. I have a 90-pound English labrador who is my pride and joy, so I understand how tenants or buyers are looking for dog-friendly buildings. And in the Brickell corridor, you’ll find a handful of buildings with those features. I think that was the open item that most developers put in their condos when they built and pre-sold the buildings, in order to market to a larger group of people. I think it was extremely smart. Brickell has now become a young professionals area, and most of them do own pets.