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After COVID hit, the demand for second homes dramatically increased. Those living in big cities flocked to drivable second home communities like near lakes, The Hamptons, and around Florida - including communities like Destin, FL and the surrounding 30A region.
As the Director of Marketing and PR of Scenic Sotheby's International Realty, Adam Pfaff has seen firsthand the explosion in demand for second homes in and around the Destin area.
Eric Stegemann (https://www.temi.com/editor/t/vLoSJOuf3R7z1ZVePauy19CNJVhQG54olfhGCtYaBGzEY3WD5tNtx32KrC7xhmyI_shY4kDH9ErRfL02ZlKVEmYZKok?loadFrom=SharedLinkandts=0.93 (00:00)):
Thanks for listening to Brokerage Insider. This week's episode was recorded live during the explore virtual conference on Thursday, September 24th. We look forward to returning to our regular scheduled program soon, but until then, enjoy this session
Starting things off here, let me first introduce you, Adam Pfaff is the director of marketing and public relations at https://www.scenicsir.com/ (Scenic Sotheby's International Realty) in beautiful, gorgeous Destin, Florida, the Destin, Florida area. I should say most people will know it there, but I think, you know, you have, you have offices along https://30a.com/ (30A), which technically aren't in Dustin and along 98, which Santa Rosa beach, I think is where your other offices, right?
Correct. Yeah. So we have we have an office in each of the major markets that we serve. So we have one essentially located here on the Eastern side of Dustin right on 98. We then have one in the heart of 30A and blue mountain beach. And then we have a, another office on the Eastern side of Santa Rosa beach, which is technically an inlet beach. So that office definitely is able to serve our micro markets over in Rosemary beach, Panama city, beach spaces like that.
Eric Stegemann (https://www.temi.com/editor/t/vLoSJOuf3R7z1ZVePauy19CNJVhQG54olfhGCtYaBGzEY3WD5tNtx32KrC7xhmyI_shY4kDH9ErRfL02ZlKVEmYZKok?loadFrom=SharedLinkandts=74.99 (01:14)):
So that's great. So I guess w where I should have kicked off and kind of mentioned is one of the things that I wanted to have Adam on today particularly about is is about marketing, but, but also specifically on second home marketing and again, the rental market marketing, because in the area that is the big pole. It is a second home community, a rental community. And so I think, you know, even if you're not, if you're a broker that's listening into this right now, even if you're not in one of those markets, I think it's important to know what's going on in these types of markets, because you can know how to leverage it or leverage relationships as people change their environments because of COVID. And we're going to get into a little bit of that. So first of all, let's kick off the softball question here. How's the market been?
Man, the market's been, it's been crazy. And I know that's kind of like the standard real estate answer. Everyone just says, it's crazy, but there's really not a better adjective to use because you know, our agents are they're out there hustling, they're working as hard as they possibly can. I know my staff and all of our operations teams are busier than we've been, you know, even on the uptick in the market that we've seen for the last few years, just the amount of volume of transactions that we're doing is so great. The you know, we're definitely feeling an inventory pinch right now. Our inventory is down to under two months. So just under 1.8 months of inventory currently on the market, whereas pre pandemic, we were, you know, in a most of our markets were an upper end luxury market. So eight months of inventory in certain wasn't
Uncommon, but we're not seeing any of that now. It's