ONE Sotheby’s Top Agent Michael Martinez Achieves Record $100 Million Sold in Pinecrest

Written by Posted On Wednesday, 13 October 2021 10:33

Accomplishing a milestone no other real estate agent has achieved, ONE Sotheby’s International Realty agent Michael Martinez just marked $100 million sold in the Village of Pinecrest in under 10 months. As one of South Florida’s most distinguished and innovative leaders in the luxury real estate industry, Martinez has been a ONE Sotheby’s International Realty Top Producer for the last 7 consecutive years, and the agency’s #1 Producer in 2020. As a South Florida native, Martinez has a deep appreciation for the area’s remarkable history and cultural richness. Recognized for his principles of integrity and expert ability to negotiate successful transactions, Martinez shares his insights about the market and the future of luxury real estate.

How did you get started selling real estate in Pinecrest?

Early on in my career I had an affinity for Pinecrest and knew it had the potential to become the next premier luxury neighborhood in South Florida. During my 21 years in real estate, I have sold numerous homes in the area, but it wasn’t until I began building my own home there that I really gained a much more intimate and first-hand perspective of the Pinecrest real estate market. Working and raising my children in Pinecrest has truly enabled me to establish a personal connection with buyers and sellers looking to call Pinecrest home, and has given me the perspective and area-expertise that not many agents can offer.

What do you attribute your success to?

Hard work, perseverance, and the need to be persistent are some of the first things that come to mind. I also believe in aligning myself with best-in-class, from brand partners to technology and marketing tools. I am grateful to work among the very best agents in the business, backed by an incredible international brand – ONE Sotheby’s International Realty – which has enabled me to showcase my listings around the world, tap into unparalleled real estate market resources, and make global connections. My market expertise combined with access to the best tools has allowed me to deliver exceptional results for my clients, often with multiple offers, bidding wars and over-ask closings.

How has the market in Pinecrest evolved over the years?

In the 1950’s and 60’s Pinecrest was more rural with ranch-style homes and plenty of avocado and mango farms. Over time it has evolved into one of the most desirable places to live in Miami, drawing in wealthy buyers from around the world attracted to the large lot sizes. People are seeking the highest and best use of the acreage in Pinecrest that is hard to find in other areas of South Florida – and as demand for expansive lot sizes continues to increase, waves of redevelopment continue to come in. Older homes are being replaced with larger newer homes, offering more square footage with luxury amenities including home theaters, home offices, gyms and oversized car garages. We are also seeing demand from buyers looking to purchase older homes with the intention to completely remodel or improve the property with additions. 

Why is Pinecrest so appealing to buyers today? 

Pinecrest offers an intimate community feel while still being close enough to the city so that residents can enjoy the best of both worlds. In addition to this, one of Pinecrest’s defining attributes is that it boasts enormous lot sizes. We have seen both domestic and international buyers seeking out the area, drawn by Pinecrest’s expansive estates and lush landscaping. Our buyers are looking for homes with large square footage, multiple bedrooms, extra living areas, entertainment rooms, service quarters, and outdoor living areas with large swimming pools and spacious terraces to entertain. The neighborhood also has incredible school options, both public and private, great parks and recreations facilities and amazing police and fire departments.

What are some of the most notable deals you were involved in?

I recently sold the home of Miami Heat star Jimmy Butler, closing the deal over asking price at $7.1 Million. This is a great example of how property values in Pinecrest continue to increase as demand for luxury estates rises. The home was built in 2014, nestled on a 38,000 lot. Butler purchased the home when he joined the Miami Heat Organization and we were able to sell it only 2 years later for about $2.5 Million more -after multiple offers. I have been on the Pinecrest forefront as the #1 agent for the last 3 consecutive years with the highest total sales volume year after year. This year, I feel honored to have achieved both a personal and industry record, with $100 million in year-to-date sales in Pinecrest alone, in addition to my sales across South Florida. This will remain one of the defining moments of my career.

How do you see the area changing over the next few years?

Pinecrest has become a sophisticated neighborhood for families, empty nesters, and snowbirds looking for homes built on large plots of land that are close to Miami’s main commerce areas and attractions. I expect Pinecrest to continue evolving into one of the most desirable neighborhoods in Miami while still maintaining the privacy and small community feel that it has always offered.

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