Ingrid Carlos is branch manager of Coldwell Banker Residential Real Estate 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 spoke with Ingrid Carlos, the branch manager of Coldwell Banker Residential Real Estate in Coral Gables. A native of South Florida, Ingrid is invested in her community. She is a member of the Coral Gables Chamber of Commerce, and she has devoted time to numerous charities, including Habitat for Humanity, Susan G. Komen for the Cure, the IAFF Firefighter’s Fund, and the Muscular Dystrophy Foundation. Ingrid currently serves as Governor of the Miami Association of Realtors and State Director for the Florida Association of Realtors.

Miami Agent (MA): The median home price for single-family homes increased in the 2013 fourth quarter, marking the eighth consecutive quarter of growth. Do you see home prices in Miami leveling-off in 2014, or will they continue to rise?

Ingrid Carlos (IC): Economists are forecasting an increase in the median home sales prices for 2014 due to many reasons, including more job opportunities, population increase, as well as the low inventory not being able to keep up with the market demand that is driving the prices up in many areas. I believe that we will see an increase as the market continues to recover, but not like the boom we experienced a few years ago. We are experiencing many homebuyers in our market, but due to heavier restrictions on obtaining mortgages, these homebuyers are more stable than homebuyers in the days when mortgages were easily facilitated. There is also a big increase in foreign buyer activity, cash transactions, and higher down payments, leading to a more stable market.

MA: We recently reported about bidding wars in the competitive Miami market. What is your strategy for winning a bidding war?

IC: “Highest and best” is the term that Realtors often hear when presenting an offer on REO (Real estate owned) properties, but it can be applied to any non-REO transactions, as well.

Sellers continue to seek the highest net price, cash offers, bigger deposits and higher down payments in financed transactions. In many cases “highest” is not the only factor that will get your offer accepted. You must also pay attention to what a seller might consider to be “best.”

Consider the entire agreement to meet the needs of both parties. Ask the listing agent what the seller’s needs are, remain silent and listen attentively. These needs may include many items on an offer that have nothing to do with price.

All terms and conditions on a contract are negotiable. Since you have already identified your buyer’s needs, you will know the amount of flexibility in your terms as you are able to identify the common interests of both buyer and seller. For example, a seller may simply require a longer or shorter closing period or even a post-occupancy agreement.

Another strategy, if your buyer is in agreement, is to remove contingencies to the offer. Buyers ask the seller to assume risk whenever they make an offer with contingencies because every contingency exposes the seller to risk. Therefore, buyers should understand that the lower the risk that they ask the seller to assume, the better the chances are that the buyer will get the seller to accept an attractive price. Examples may include: appraisal contingencies, financing contingencies or inspection periods (maybe a shorter period of days to inspect the property). It is important to identify possible trade-offs that will obtain a win-win situation for both parties.

Include a completely filled out current version of the sales contract with the correct addendums attached, signed and initialed by your buyer. Make sure you attach a proof of funds for your cash buyers or a pre-approval letter from your buyer’s lender at time of presenting the offer. Always check the MLS for any attachments that may be required to present the offer and follow instructions carefully.

Remember to always be polite, courteous and professional. The sale/purchase of their home is an emotional decision for sellers and buyers. Remind your buyers that it is also important to be polite and courteous with the seller if they are present when you are showing their home and not to make any negative remarks in front of them about their home. When presented with similar offers, many sellers will also choose to go with the buyer that they like.

MA: What did you find that homebuyers wanted most in 2013, and how, if at all, have their preferences changed since you first entered real estate?

IC: I have witnessed many changes in homebuyer preferences since I first entered real estate. We currently have many different generations purchasing properties in South Florida. No longer are we just a destination for retirees. Downtown Miami is becoming a hub for young families and professionals who want to be close to their work and live an urban lifestyle.

Although each buyer may have different motivations and needs, many buyers overall are becoming more cautious. They do not want to make the same mistakes that other buyers made in the last real estate boom. They don’t want to overpay or buy a bigger home that they will not be able to afford, and they want to remain well within their budgets. This especially is true for first time homebuyers. Most buyers are seeking affordable payments but lifestyle and comfort are very important to them.

We are experiencing a huge increase in foreign activity in our market as foreigners continue to seek a safe and stable place to invest their money. Our location, tropical climate, arts, cultural events, sporting activities and gorgeous beaches will continue to make South Florida an ideal destination.