You have to admit that Million Dollar Listing NY and LA are very entertaining. I often here clients, friends, and colleagues talk and joke about the content of the show comparing it to our market. The characters make the show of course and we can only dream that our market may someday move at the pace of New York and Los Angeles – whether for better or worse. All I can say is I would greatly appreciate it since I will have two children in college next year and another one on the way!

However, the fundamentals are different. We have the number one beach in the nation once again and who can complain about what a fantastic place this is to live or own a second home not to mention some inherent tax benefits. But we are a much more discretionary market. Our buyer in the million-plus market is probably a retiree or nearing retirement age. They may be considering a home in Sarasota, Naples, West Palm Beach, Phoenix as well as any number of other second home destinations. They generally do not need to buy a home here because they are relocating due to a job opportunity or business and there may be no definitive timeline. The result is a fundamentally different market for the million-dollar listing.

But rest assured, despite the difference in fundamentals, there is plenty of drama among Realtors in Sarasota. Particularly among those in the luxury market. Certainly, enough for a TV show or a series of books!

Joel Schemmel
50 Central Avenue, Suite 110
Sarasota, FL 34236
Phone: 941.587.4894