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Viewpoints: Madeleine Romanello, Broker Associate, ONE Sotheby’s International Realty, South Florida

by Peter Thomas Ricci

madeleine-romanello-one-sothebys-miami-real-estate

Madeleine Romanello is a broker associate with ONE Sotheby’s International Realty in South Florida.

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

This week, we talked with Madeleine Romanello, a broker associate with ONE Sotheby’s International Realty in South Florida. A top agent with more than 15 years of experience, Madeleine is a graduate of Cambridge University, and lived in Germany, Greece and England before settling in the U.S. She is fluent in German and French, a member of the Master Broker’s Forum, and from 2009 to 2011, she was among the top 5 agents for Douglas Elliman Florida.

Miami Agent (MA): A recent guest blog on mobile apps has generated great interest from our readers; what apps do you find the most beneficial for your business?

Madeleine Romanello (MR): Without a doubt, DocuSign. In the Miami market, where we are dealing with so many multiple offers from national buyers, foreign buyers and otherwise busy people, DocuSign is just essential for getting things on-time and under contract. I have it on my computer, my iPad and even my iPhone.

And people love it. When I changed companies, I went 30 days without it, and my clients were complaining! Because again, if you’re a busy professional, you can be at lunch, have the document on your iPhone, and you’re sending it back to your clients within minutes.

MA: Miami’s housing inventory has been among the lowest in the nation this year; are you seeing any breathing room develop, or is supply still tight? Why?

MR: Inventory is still tight, but it depends on the price range. It’s definitely tight in the top neighborhoods, but I think what’s throwing people off is overpricing. For instance, a unit should be priced at $650,000, but it’s price at $750,000. I said this in an office meeting the other day: you have to create your own inventory.

You have to look at what’s out there and say, “This house is 2,000 square feet; it should be priced at X, but it’s priced at Y.” Instead of just pushing the market slightly, people are pricing their listings 20 to 30 percent above the market, so you have to negotiate with them and push the price down.

MA: Finally, 2013 is drawing to a close; what trends are you watching the closest, as the New Year braces for takeoff?

MR: I’m focused on getting listings and sending out marketing pieces that are going to educate people. My marketing says, “Look at the numbers – if you’ve been thinking about moving, but didn’t think you could get enough for your house, here are the trends, and I can give you an accurate analysis to help you make that move.”

Also, there are loan programs that are starting to come out from lenders where, if the condominium and the borrower meet the requirements, they can do with 5 or 10 percent down, which has been a big issue in Miami. Obviously, we’ve seen many all-cash deals, but at some point, people are going to want financing. For example, if a young attorney wants to buy a condo in Brickell, he may not be able to, because he does not 20-25 percent down. But as those loan programs expand, you’ll be able to target young professionals again.

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