Greg Freedman is the principal of BH3 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 Greg Freedman, principal of BH3.
Miami Agent (MA): Oceanbleau in Holywood Beach is the latest development represented by BH3. What makes the 17-story tower stand out against a slurry of other luxury developments?
Greg Freedman (GF): There are several things that make Oceanbleau unique and special above its competition. First, no other project in Hollywood (and in South Florida) offers ocean views from EVERY residence. We only have four lines of residences, and every one of them has amazing ocean and intracoastal water views. Second, the floorplan is adaptable to the client’s desired uses. Every floorplan is 3,000 square feet and buyers can choose a configuration that suits their needs best. I call this the “Dell model of luxury real estate,” where buyers get to choose their floor, their view direction and their preferred layout. Third, is value. Oceanbleau offers more bang for the buck than any other project in a boutique building with first-class finishes, services and amenities. They are setting the new bar for luxury in Hollywood.
MA: How careful is BH3 in choosing which properties they represent? What factors do you consider in your decision making process?
GF: BH3 Realty historically only represented projects developed by the BH3 parent company, but recognized that there was a “knowledge gap” in the marketplace whereby other outside sales organizations didn’t understand or appreciate the developer’s business model and that their interests were often misaligned. BH3 Realty fills that gap as a result of having the development experience; brings a host of benefits to its developer clients on the sales and marketing side as a result; and insures that the interests of the developer and the sales team are truly aligned. BH3 Realty will only consider taking on select project assignments where you have a trusted and experienced developer team with a great project in an amazing location. We are a boutique firm that believes in quality over quantity. We have established an amazing brand in the BH3 name as a result of the company’s stellar track record and broker/buyer following – thus, we would only consider putting our name on the best projects. Oceanbleau is exactly that.
MA: How do you keep yourself motivated, even when the market isn’t performing to your favor?
GF: One word: experience. Anyone can sell real estate in a hot market, but only a true salesperson can sell throughout upswings and downswings. And while we are presently in a great market, I always find it shocking when I tour other projects to see that the sales team is staffed with good-looking young people, fresh out of real estate school, trying to sell multi-million dollar apartments, many of which couldn’t get a job anywhere else. I call these people “order takers,” as they know little-to-nothing about the art of selling real estate, which only suffices in an environment where there is more demand than supply.
In our current market, there are plenty of options for purchasers, and this requires a seasoned sales team. There is no price you can put on experience. Our company is led by Michael Neumann, a veteran development sales director that has successfully sold out over 50 buildings and several billion dollars of real estate – the majority of which are in South Florida. He has seen it all and knows how to interact with buyers and brokers of all profiles and demographics. If you look at our sales team, you will see seasoned professionals that have decades of experience that are at the top of their game. Our company was one of the first developers to start selling real estate in the down market of 2009, and much of our success was selling real estate when nobody else could. Bottom line: A great project and a great sales team can sell real estate in any market, and stay motivated throughout.