Liza Mendez is the broker and owner of Pedro Realty International working in Miami.

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 Liza Mendez, broker and owner of Pedro Realty International. 

Miami Agent (MA): Heading up a long-time, family-run brokerage, do you think your firm’s history gives you a unique experience on the homebuying process, and if so, could you explain it a little?

Liza Mendez (LM): I truly believe it gives us a tremendous perspective. Real estate is a business of cycles. When I talk to my dad about how it was when he started in 1966, and how it was going through the decades when rates were at 18 percent or gas shortages and the challenges we’ve had in the last few years, it helps having the perspective that people will always buy and sell; they will adjust to the current circumstances. When rates were extremely high, you still had many people buying and selling. Today we have much, much lower rates and prices are higher, yet there is a lot of demand in the marketplace. We have been fortunate to have the wisdom and experience to always look ahead and make plans for the future to ensure we always have a steady stream of customers.

MA: As a CRB, it’s your duty to help bring in and train talented, producing real estate agents. What is it you look for in a good agent?

LM: First and foremost, we look for an alignment in our values as a company and us as individuals. It has to be the right fit. We ALWAYS have to do what is right for the customer, we operate an office where ethics and professionalism are of the utmost importance. A good work ethic…real estate is not an easy business regardless of how it is portrayed. I also look for a drive for success, income and profitability.

MA: Price appreciation in Florida, and especially South Florida, is skyrocketing. Do you fear homes might become overpriced, why or why not?

LM: The market will always correct itself if there is overheating. While it appears that prices are skyrocketing, you have to put pricing in a historical perspective. Some areas are still not at their peak pricing from years ago. Interest rates are at a very low price point. Asking prices are one thing, sold prices are another. We do have a great divide in South Florida in terms of pricing and financing, especially in the condo arena. If we are able to bring additional condo financing, many individuals and families that are priced out of the market, will be able to get into more affordable housing options.