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Name: Julie Jones
Title: Vice President of ultra luxury sales
Experience: 20 years
Location: Fort Lauderdale, Florida
Brokerage full name: Douglas Elliman
Team size: Three full-time team members
Transaction sides: Average 25 to 30 transactions per year
Sales volume: $368 million (2021), $148 million (2022), career sales approaching $2.4 billion
Top Agents in the United States (Individuals By Volume) ranked No. 139 by RealTrends (2023)
Douglas Elliman Pinnacle Award for top 3 percent of agents nationwide
How did you choose your brokerage?
After building and owning my own private brokerage for almost nine years I was privileged to have the very best options in the luxury market. After very careful selection I was ultimately honored with the unique position of Vice President of Ultra Luxury Sales with Douglas Elliman.
I made this selection based on Douglas Elliman’s strong presence in all of the leading luxury communities across the U.S. I also wanted a really significant global presence to be able to market my luxury listings internationally.
The exclusivity, privacy and ultimate reach of Frank Knight was hugely appealing to me and is a great marketing platform. I can honestly tell my sellers that they have a true national and international reach. I also studied the brand very closely and researched the top-producing agents, their marketing and production.
What do you wish more people knew about working in real estate?
I wish that more people knew the amount of hard work and dedication it takes to build your real estate business and then be a consistent top producer every year. The hours are long and grueling and maintaining your personal life becomes equally as challenging.
Beyond this, I wish that more people understood the meaning of a legally binding contract. Real estate is not a profession between hair and nail appointments, it is a responsibility that verges on asset management; incorrect pricing can cost your customer significantly, whether priced too low or too high.
Tell us about a high point in your brokerage career.
Without any doubt, the high point was my very first listing on Hillsboro Mile. I used to drive what is now locally known as Billionaire’s Mile and look at all of the incredible ocean to intracoastal estates. I vowed that I would one day be the listing agent for one of these amazing properties. Since 2019, I’ve sold three residences there.
I feel that my success with the oceanfront properties stems from my true passion for SoFlo’s waterfront and beaches, plus the expertise that I developed with my unique marketing and sales approach.
What’s your top prediction for the remainder of 2023?
After many years of working the ultra-luxury market I find that both sellers and buyers are slower to respond in terms of listing for sale or purchasing as we approach election year.
The luxury inventory ($5 million and above) for June remained stable at 34 residences (same as 2022), active median prices rose from $7.9 million to $10 million, and price per square foot increased from $1300 to $1500. Days on market decreased from 314 to 225. Closed median prices went from $7.8 million to $11 million ($1100 to $1400 per square foot).
Both land and new construction prices are continuing to rise. This is a surprise to many of the builders who anticipated prices to reduce or at least level out after COVID shortages passed. This is leading to homeowners considering large-scale renovations as opposed to tearing down residences.
There is limited speculative building currently as prime properties were absorbed for custom building over the last two years. Demand for new and contemporary product remains high, with buyers drawn to furnished or turnkey options.
Luxury residences that are priced correctly are definitely selling and I am anticipating the remainder of the year to be more in line with 2019 sales than the market experienced in 2021 and 2022.
What’s one thing you wish every agent knew?
I sincerely wish that every agent knew the value and importance of relationships. In reality, a successful agent has two groups of customers. Of course, there are the highly valued sellers and buyers. However, many agents fail to appreciate the value of cooperating brokerage relationships. An agent’s relationship with their cooperating agent community is critical and highly valuable.
I have been privileged to work with the local board on the Grievance and Standards Committee. I have also rejoined the Master Brokers Forum recently and appreciate the interaction with the Members of LuxuryRealEstate.com, both nationally and globally.
I also create unbranded brochures and custom websites for my listings that are shared with cooperating brokers to attract potential buyers. Real estate goes beyond the next commission check. No amount of social media or technology will be as effective as the relationships that you strive to build and maintain in today’s highly competitive business world.