Scott Forman, Principal Broker of Royal Palms Realty, was selected as the featured real estate expert in this week's edition of The Keys Weekly newspaper. The full interview is below.
Keys Weekly: What should a prospective home buyer look for when choosing a real estate agent or broker?
Scott Forman: The entire reason buyers and sellers
look to a REALTOR® is based on the concept of specialization. A specialist means someone who understands
the local market and the nuances of negotiating in that market. In our business
model, we took the concept of specialization and modeled it after the medical
field, where the value of a specialist is unquestioned. This was an idea we
were first introduced to by Marquis Properties prior to our merger with them.
Keys Weekly: That's an interesting concept. Why is it so important to choose a specialist when searching for a home?
Scott Forman: It’s
important that the agent is a specialist, not just in the general local market, but
also in the specific type of property, value range, and neighborhoods the
customer is focusing on. Each
neighborhood has different features that the agent can help the buyer negotiate
their way through. Even different price points have different nuances in terms
of how they are negotiated, what the list price sale price ratio is, and what
the buyer should expect from the property and the seller. By specializing in luxury real estate, we have developed the knowledge and expertise needed to assist clients in this subset of the market.
Keys Weekly: Does this concept also apply to sellers who are thinking of listing a property?
Scott Forman: Absolutely. The same holds true for sellers. It’s
important for sellers that their agent understands the potential buyers in
their market sector. This helps the agent produce a strong marketing plan to
reach out to the correct buyers. For example, when I'm representing
buyers and sellers in Old Town, the Truman Annex, Casa Marina, the Meadows, or with luxury oceanfront properties on Shark Key and Sunset Key, I understand the importance of
showcasing the value of a home in the way that best suits each individual
market sector.
Keys Weekly: Are there any other key points that sellers should consider when choosing a listing agent?
Scott Forman: When listing a property, it is also important to understand that the
agent you hire becomes your spokesperson in your absence, and this may be one
of the most important factors in a negotiation. Imagine for a moment that you
are the buyer and ask yourself who would create the best customer service
experience on your behalf and in your absence. Remember, the key to a smooth negotiation is having an agent who
understands how to communicate in a way that brings all parties together to a
successful conclusion.
About Scott Forman: Scott was raised in
the Hamptons and worked as a sound engineer/music producer at The Hit
Factory in NYC, where he worked with music legends like Stevie Wonder,
Miles Davis, etc., before relocating to Key West and entering the real
estate industry in 2001. He is the owner of Royal Palms Realty and has
become one of the foremost experts in luxury real estate, being named
Key West Realtor of the Year for 2013. Scott lives in Key West with his wife and three children.
For
more information about buying or listing a home in Key West, contact
Scott Forman at 305-923-9884 or scott@royalpalmsrealty.com
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