Jill Penman is the principal of the Jill Penman Group with Coldwell Banker in Miami

This week, we talked with Jill Penman, the principal of the Jill Penman Group with Coldwell Banker who, in 2013, was awarded Coldwell Banker’s prestigious “International President’s Circle,” a distinction reserved for the top 2 percent of Coldwell Banker’s national network of 40,000 agents. 

Miami Agent (MA): Miami currently has one of the busiest housing markets in the U.S. What do you think is behind all that activity?

Jill Penman (JP): Miami is an international destination for people all over the world, so people are coming into Miami. Also, large international companies with major headquarters in Miami – such as Burger King and Pepsi – they relocate top executives from major cities in the Latin American district, so the market is consistently saturated with new buyers and sellers.

Miami’s marketed turned around because the foreclosures and the short sales ran out. They got bought up by cash buyers who were standing in line with bags of cash. So once the foreclosures and short sales got bought up, and people’s faith got restored in the marketplace, people then turned to real estate for a great avenue for investment purposes.

MA: Our recent feature on real estate tech garnered lots of interest from our readers. What kinds of technology do you find benefits your real estate business the most?

JP: Social media has exploded in our industry. Facebook has created an amazing venue for Realtors to network all over the world, and also display their inventory and market their accomplishments to their prospective buyers and clientele internationally. Now that we can be friends and network with Realtors all over the world, we are displaying our listings and our homes, so it networks everyone.

For Facebook, I publish my blogs, which include what’s going on in Miami, what the trends are in Miami’s market, what’s just been listed, what’s just sold and any open houses. Also, there’s always a nice way to humanize yourself on your blog, say if you and your family are on a boat ride or visiting a home that was for sale.

Search Engine Optimization has also become a major component for agents to beat their competition, because if their website and properties are coming up first on Google, that’s where buyers are. Buyers and sellers are searching 95 percent of the time online, so if you have an SEO company working for you, which we do, it’ll rank you higher and you’ll get the calls. And this business is all about leads.

MA: Finally, foreign homebuyers have remained a fixture in Miami’s housing market. What is it about Miami that continues to attract foreign clientele?

JP: Climate – Miami has an amazing climate. It’s always sunny and green here, and a lot of foreigners who are in colder, darker climates, such as London or Hong Kong, are attracted to that. We have amazing access to beaches and boating, which make Miami a very desirable location for foreign investors/buyers who are looking for second, third or fourth homes.

And I also think foreigners visit Miami and have an instant comfort level, because it’s such an international destination. I don’t think they feel like a fish out of water, where if they went to Iowa, or Minnesota, it’s much different. But here, you sit down at a restaurant, and someone is speaking Italian behind you, Spanish on your left, Portuguese on your right and Mandarin in front of you. There’s a definite instant comfort level.