Jerry Sanchez

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

This week, we talked with Jerry Sanchez, an agent with Cervera Real Estate and the director of sales for Elysee Residences.

Miami Agent (MA): I’ve heard from many in the area that condominiums are being overbuilt, as evident by the massive increases to inventory and dropping sales. Do you agree, why or why not?

Jerry Sanchez (JS): Miami isn’t purely the investor market that it used to be. People are moving in with families for security, lifestyle and education, so there is an ongoing demand for new inventory for that buyer base. In Latin America, with the strengthening of the U.S. dollar, the market adjusts accordingly and may slow down, but once it becomes the new normal and exchange rates stabilize, we feel strong sales will continue.

MA: At the very least, the market is saturated with plenty of condo stock. What makes Elysee Residences stand out in the crowded field?

JS: Elysee Miami is a quantum shift from what you are seeing in the Miami market today. Only 100 exclusive residences with only two units per floor on the waterfront overlooking Biscayne Bay. It is one of the very few boutique luxury projects being offered in the market today at such competitive pricing and with such a strong team behind it – Two Roads Development, architecture by Bernardo Fort-Brescia of Arquitectonica, interior design by Jean-Louis Deniot and sales and marketing by Cervera Real Estate.

MA: How is marketing a full tower different than a single residence? How are they the same?

JS: When marketing a tower, you are creating an experience, promoting a brand, telling the story about the neighborhood and incorporating the value proposition of the project. You need to differentiate it from all the other projects on the market, and tell the story of why you should purchase there and what sets it apart from the rest. You are telling a story of what life will be like and what you should aspire to. When promoting a single residence, you are selling one thing and usually it is already built. It is tangible.

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