The
market is booming, and many are jumping on the real-estate wagon
BY
HELEN HILL
Special to The Herald
January 2, 2004
AL DIAZ/HERALD STAFF
DOING IT BETTER: Real estate
agent Mark Zilbert admires the view from a penthouse
suite at Murano Grande.
'When
high-flying Internet consultant Mark Zilbert bought his
first property in Miami Beach he was irritated by the
way the transaction was handled. Used to working with
national corporations, Zilbert perceived a lack of
professionalism and felt he could do better.
Two years later he
took up the challenge, quitting his steady job and going
to work selling real estate in the Miami Beach office of
Esslinger-Wooten-Maxwell, EWM, last April.
Around the same time,
Daniel Fitzgerald, an international equities trader from
Great Britain, arrived in Miami with three suitcases
after quitting a high-flying job in Italy to try his
luck in Florida real estate.
Both are typical of a
new wave of independent sales agents who, drawn by the
prospect of making good money in a lively real estate
market, are changing careers. Factor in the allure of
becoming the next Donald Trump -- made even more famous
by his hit TV show, The Apprentice -- and real
estate has become not only hot but sexy.
Not everyone can
become a developer or investor but almost anyone can get
a Florida real estate sales associate license.
''Real Estate sales
offer a fantastic opportunity for people from all walks
of life,'' said William Cummings, director of Century 21
Academy of Learning in South Florida. ``South Florida is
so diverse that I believe any life experience, language,
work or business background can be translated into
creating a market for real estate.''
MIXED BAG
People entering the
field are fairly evenly divided between those who were
pushed out of old jobs -- especially those in the
high-tech field -- and those who chose to change.
''We're seeing a lot more mid-level managers, people who
think a 9-to-5 job is not the way to go,'' said John
Greer, director of Gold Coast School of Real Estate.
``There are people on their second or third career and
older people who are not ready to retire.''
While entering real
estate is relatively easy, succeeding is much harder.
To do well, the job
demands 60- to 80-hour work weeks for the first couple
of years, in-depth knowledge of the market, a high
standard of ethics, boundless energy and the ability to
relate well to people. New agents are often advised to
have six months of living expenses in reserve and be
prepared to spend thousands marketing themselves.
HIGH TURNOVER
As a result, only
about 30 to 40 percent of people obtaining licenses stay
in the industry, although many more keep their licenses
current. The latest figures from the Florida Department
of Business and Professional Regulation show 18,221
people with active sales associate licenses in
Miami-Dade and 17,257 active in Broward County.
According to Jeff Morr,
executive president of Majestic Properties in Miami and
Miami Beach, 10 percent of sales agents make 80 percent
of the money.
He sees people happy
to earn $30,000 to $40,000 a year, while others aim for
$40,000 to $100,000. ''I estimate that there are only
about three dozen agents in Miami Beach who make more
than $300,000 and far fewer in all South Florida earning
more than $1 million dollars,'' he said.
That elite group
appeals to Zilbert, 39. ''I'm highly motivated, I made
six figures for the past 15 years and I'm not ready to
start over,'' he said. ``On Day One I said that I am
going to be a luxury Realtor.''
Zilbert's career goals
had always been sparked by growing up...in Montreal.
After gaining a degree in computer science he moved to
California to become an actor. He got small parts in TV
shows such as Star Trek and General Hospital
but supported himself by doing computer programming.
When the Internet boom started, Zilbert became an expert
on the Web, ultimately moving to Florida as a management
consultant and focusing on helping companies find ways
to use the Internet in building business.
Two weeks into his
real estate career, he brought in his first deal, the
sale of an $800,000 unit. Then, nothing happened. His
first reaction was, ``I think this is going to be a
little more difficult.''
But he tapped into his
Internet marketing skills. Zilbert focused on branding
himself, beginning with a distinctive real estate
website that showed only people, not structures. ''We're
selling a lifestyle, not buildings.'' he explained.
MARKETING YOURSELF
His Web expertise
helped put the site high on search engines. In his first
six months with EWM, he sold $11 million in real estate.
By the end of last year, his sales, which were mainly in
Miami Beach, totaled $17.5 million.
''Ninety percent of my
clients are outside Florida or the U.S. and I've never
met 20 percent of them. My greatest achievement is to
interest people and pull them into the site so I can
follow-up,'' he said.
Fitzgerald's entry
into the field was more low-key, backed up by confidence
in his organizational abilities, strong street smarts
and a proven talent for sales. ''I believed I had an
edge because I know how to deal with clients,'' said
Fitzgerald, 28, looking back on his role as one of the
youngest equity traders in London and a career that took
him from a go-fer polishing brokers' shoes to the head
of Japanese trading by the time he was 21.
Years of flying around
the world on business were followed by two years in an
investment bank in Italy -- and then the decision to
change careers and continents.
MAKING CONNECTIONS
Buoyed by savings, a
laptop and a cellphone, the newly-licensed Fitzgerald
started networking. He had done his homework,
researching big local players and sending cold e-mails
asking if he could come in and discuss a sales position.
He got his first break in early October 2003 when he
went to work for Majestic Properties, which runs an
in-house training program. ''I'm getting listings,
making solid contacts and after only a few months, I'm
already getting established.'' he said.
At the age of 35,
Birgit Hefler, an agent with Lyle Chariff Realty in
Miami's Design District, is marking her second year in
real estate sales. Her background includes training as
an interpreter and translator in three languages and a
job as a flight coordinator at Miami International
Airport.
A stint in the
air-cargo freight business was followed by a period as a
stay-at-home mom for her two children. ''One of the
greatest things about selling real estate is that you
make your own schedule,'' she said. ``You are running
your own business and put in as much as you want to get
out of it.''
For Noel Nogues,
retirement after 20 years as a City of Miami police
officer was just too boring. After a shot at business,
which he disliked, the 48-year-old Nogues opted for a
new career selling real estate. The former neighborhood
resource officer had developed his interpersonal skills
working with people of different backgrounds in Little
Havana, and he translated them to real estate. ''I
learned to project trust, knowledge and assurance,'' he
said, ``and I'm experienced speaking in public.''
INDEPENDENCE
Working at his own
pace also suits Nogues, who works out of the Coldwell
Banker office in Kendall's Town and Country Mall. In
eight months, he chalked up single family home sales of
close to $2 million.
Nogues believes he's
made a great career move: ``With police work I resolved
problems; here I help people make their dreams come true
when they buy a home. It's beautiful.''
To learn more about
how to become a real estate agent or broker, go online
to www.herald.com and click on Business.
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