What Will Miami's Real Estate Brokerage Industry Look Like After The COVID-19 Pandemic?

In Episode 69, expert Peter Zalewski of Condo Vultures interviews Amir Korangy - founder and publisher of The Real Deal - about the future of Miami's real estate brokerage industry at a time of increased pressure from the COVID-19 pandemic, high-tech companies attempting to disrupt the real estate transaction process and the increasing availability of data. In Segment 1, Korangy discusses fleeing with his family from Iran during the Islamic Revolution and eventually settling in Washington, D.C. after unsuccessful attempts to settle in France and Spain in the early 1980s. After attending college in Boston, Korangy relocated with a high school friend to Southern California where he launched his first newspaper before selling off the publication a few years later for nearly $100,000.   In Segment 2, Korangy talks about using the proceeds from the sale of his first publication as the seed capital to launch a second newspaper that was located, this time, in his hometown of Washington, D.C. After only a year of publishing, Korangy successfully sold off his second newspaper before deciding to join an Internet startup company in New York that would shortly thereafter be purchased by Yahoo! Korangy worked at Yahoo! for a year before shifting his focus to flipping condos and townhouses in the New York borough of Brooklyn at the onset of the current real estate renaissance.     In Segment 3, Korangy discusses how he used the profit from a property flip in Brooklyn to print the first four magazine issues of The Real Deal in New York in 2003. Some five years later in 2008, Korangy expanded his real estate publication - that included an online presence - into the Miami market to capitalize on the New York investors who were active in South Florida real estate. During this segment, Korangy discusses how The Real Deal persevered during the Great Recession and then enjoyed the building boom of the current South Florida real estate cycle. In the second half of this segment, Korangy talks about expanding into various U.S. markets and preparing to offer a new professional service subscription in 2021. The segment ends with a discussion about how Miami's real estate brokerage industry will look after the pandemic.    To send a comment, please email the podcast at [email protected]     Please be sure to patronize our advertising supporters: Condo Vultures® Realty, Condo Vultures® Condo Correction Tours, and CVR Realty.  Click here to subscribe to the Condo Vultures® Distressed Market Intelligent Report.