eXp Luxury Report Vol. 3

eXceptional Sales | Q3 2023 DISTINCTIVE PROPERTIES BROKERED BY EXCEPTIONAL AGENTS

Welcome The third quarter of 2023 was one of gathering, growth, and adaptation.

In August, eXp Luxury members and colleagues converged at the prestigious Inman Luxury Connect in Las Vegas in August, where our very own eXp Realty CMO, Carolyn Merchant and distinguished architect, Michael Gardner, led an engaging conversation on the future of sustainable luxury and why it matters.

Held in the ever-stylish Stella McCartney store, guests were indulged with an exclusive reveal of their latest collection of avant-garde, plant-based fabrics adorning their accessories and handbags.

Luxury real estate trends seem to be veering towards buyers with a discerning eye for eco-friendly and energy-efficient attributes in their properties, coupled with a penchant for outdoor spaces.

In September, eXp Luxury opened its doors northward with the expansion into Canada. At time of publication, the Luxury Division is planning further expansion into our remaining English-speaking countries and Puerto Rico, with future expansion into all our global markets to come in 2024.

While we continue to experience a tightening inventory, the stability of prices offers a reassuring constant. The contemporary market, characterized by elevated interest rates and discerning buyers, amplifies the necessity of adept staging and meticulous marketing of properties.

As we navigate these shifting times and say our goodbyes to 2023, let us continue to promote and uphold the values of luxury and sustainability that define us.

Amy Weaver Vice President, Growth

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Sale Price: $8,750,000 City, State: Manhattan Beach, CA This modern coastal masterpiece, extensively remodeled in 2020, offers luxurious living with panoramic ocean views in Manhattan Beach’s coveted Hill Section. The 5,000-square-foot home impresses with high woodbeamed ceilings, a chef’s kitchen featuring top-tier appliances, and a dedicated entertainment area with a wet bar. The lower level serves as a private guest suite or additional family space with innovative technologies, custom lighting, and a range of amenities. With a thoughtful design and prime location, this coastal luxury residence delivers an exceptional lifestyle experience.

David Caskey Represented the Seller 3

Sale Price: $8,000,000 City, State: Manhattan Beach, CA Rising to unparalleled heights within the prestigious Manhattan Beach Hill Section, 1002 10th Street stands as an exquisite masterpiece, commanding one of the highest sale prices for a non-view location. This brand-new abode is a symphony of beach-inspired elegance, an interpretation of a rustic coastal estate, meticulously designed by the legendary CPS Designs of Beverly Hills.

Spanning a spacious 5,640 square feet, this remarkable property provides a total of five luxurious bedrooms, each equipped with its own ensuite bathroom and walkin closet. This layout ensures ample space and privacy for all residents and their guests. Throughout the home, delightful surprises and lavish amenities are found at every turn. Highlights include a kitchen with dual islands and indoor-outdoor bar seating, an expansive upstairs playroom that can easily be transformed into a home theater, a three-car garage, a detached cabana, a refreshing pool, and a generously sized 9,000 square foot corner lot. It’s worth noting that this home generated substantial interest even before its completion, and was sold prior to capturing interior photos. A testament to the allure and prestige of this luxurious haven.

Edward Kaminksy Represented the Seller 4

Sale Price: $7,850,000 City, State: Newport Beach, CA Perched atop Spyglass Hill in Corona del Mar, this luxurious custom home offers unparalleled views of the Pacific Ocean, Newport Harbor, city lights, and beyond. It’s a private oasis with a grand entrance and exquisite interior. The living spaces are designed to capture these breathtaking views, from the formal dining room to the ocean-view family room with a wet bar. With approximately 5,419 square feet, the home includes a well-appointed office, a wine cellar, and a chef’s kitchen with top-tier appliances. Four ensuite bedrooms, including a main-level suite, and a second-floor primary suite with an ocean-view tub, complete this exceptional property. Additional features include an elevator, a three-car garage, and beautifully landscaped grounds. Spyglass Hill offers easy access to schools, shopping, dining, beaches, and hiking trails, providing endless opportunities for an elevated lifestyle.

James Watson Represented the Buyer 7

Sale Price: $7,200,000 City, State: Santa Rosa Beach, FL This nearly new soft-contemporary home is an architectural gem set amidst mature oaks with stunning 180-degree Choctawhatchee Bay views and year-round sunsets. The exterior features white stucco, painted brick, and pecky cypress accents. The interior boasts dramatic two-story windows, a resort-style pool, modern design elements, and electronic enhancements like SONOS sound and Lutron operation.

The main level offers a master suite, a bayfront home office, and an open-concept kitchen. Upstairs, there are guest quarters and a screening room. Driftwood Road is known for its spacious bayfront lots and is conveniently located near Sandestin Resort and Grand Boulevard.

Nathan Abbott & Amanda Abbott Represented the Buyer 8

Sale Price: $7,000,000 City, State: Incline Village, NV This Luxury Modern Craftsman home with captivating lake views is perched on a 1.04-acre Eastern Slope lot in Incline Village. With 4,684 square feet, 5 beds, 4.5 baths, and a 2-car garage, it’s designed for discerning buyers. Vaulted ceilings and floor-to-ceiling glass offer stunning Lake Tahoe vistas. The upper deck, accessible from the kitchen, dining room, and main bedroom, is perfect for entertainment and sungazing. The main bedroom boasts a chic bathroom with a walk-in closet, freestanding tub, stall shower, TV, and Bluetooth mirrors. The middle level features a family room, 3 bedrooms with private balconies, 2 more bathrooms, an office, fitness room, and a three-row movie theater.

Jeffrey Corman Represented the Buyer 11

Sale Price:

$6,520,000 City, State: Watersound, FL

Nathan Abbott & Amanda Abbott represented the seller

Sale Price:

$6,400,000 City, State: Inlet Beach, FL

Turner Ogle & Darla Ogle represented the buyer

Sale Price:

$6,350,000 City, State: San Diego, CA

Monroe Herington represented the seller

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Sale Price:

$6,000,000 City, State: Del Mar, CA

Daniel Beer represented the buyer

Sale Price:

$5,500,000 City, State: McLean, VA

Megan Fass represented the buyer

Sale Price:

$5,250,000 City, State: Santa Barbara, CA

Daniel Zia represented the seller

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Sale Price:

$5,200,000 City, State: Manhattan Beach, CA

David Caskey represented the seller

Sale Price:

$5,050,000 City, State: Corona Del Mar, CA

Nicole Joo represented the buyer

Sale Price:

$4,800,000 City, State: Chicago, IL

Paul Gorney represented the buyer

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Sale Price:

$4,550,000 City, State: Watersound, FL

Darla Ogle represented the buyer

Sale Price:

$4,385,000 City, State: San Diego, CA

Kenneth Pecus represented the buyer

Sale Price:

$4,350,000 City, State: Scottsdale, AZ

Jennifer Wehner represented the buyer

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Sale Price:

$4,275,000 City, State: Irvine, CA

James Watson represented the buyer

Sale Price:

$4,250,000 City, State: Irvine, CA

James Watson represented the seller

Sale Price:

$4,200,000 City, State: Santa Cruz, CA

Benjamin Strock represented the seller

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INTERVIEW

Janie Coffey Co-Chair, Luxury Advisory Council

“The collaborative philosophy at eXp Luxury has been a remarkable alignment with my own professional values and has significantly contributed to my growth since the division’s launch last year. The standout feature is our dedication to collaboration, something that is often commented upon by new members.”

Janie Coffey is a top performing luxury agent in St. Augustine, Florida and Co-Chair of eXp Realty’s Luxury Advisory Council. She leverages almost three decades of experience in real estate, construction and development and is among the top 250 agents in Florida, as currently identified by RealTrends and the Wall Street Journal. She has been named among the Top 100 Most Influential People in Real Estate by Inman News, was ranked as a top ten agent in Northeast Florida by the Jacksonville Business Journal, and was the number one agent during her tenure at a previous brokerage, First Coast Sotheby’s International Realty.

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We sat down with Janie to get her thoughts on luxury real estate and her journey: You’ve worked with several “legacy brokerages” before making your way to eXp Realty. What are the key learnings you noticed in these organizations and how did these help shape what eXp Luxury came to be?

I’ve gained valuable insights into the significance of crafting an outstanding brand that encompasses aesthetics, ethos, and ambiance. The lesson I’ve embraced is that simplicity often holds more power. I’ve come to understand that the spotlight should be on the property itself, with the agent and brand taking a supportive role.

Recognizing the importance of premium listing distribution and the need for exceptional marketing tailored to the right audience has been an eye-opener.

I’ve also realized the critical role ongoing data plays in monitoring a listing’s performance, enabling us to effectively engage and retain sellers. All of these lessons have been woven into the fabric of eXp Luxury, forming a holistic approach to the real estate experience.

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What’s a key moment or experience that shaped your success?

In all honesty it was the unexpected and humbling recognition of being awarded an Inman Top 100 Most Influential People.

The string of events that happened from that one key moment has shaped the career I have today, 12 years later!

What qualities are pivotal for success in luxury real estate specifically?

Success in luxury real estate hinges on several key qualities, each of which plays a pivotal role: your ability to determine what is unique about each property and provide a bespoke marketing plan to get it in front of a very targeted set of buyers. It also involves a profound skill in understanding your clients on a deep level. Striking the perfect balance is crucial – being just enough for them without overloading or falling short in any aspect. A deep knowledge of the market you represent is also vital – much deeper than just data and facts, but the nuances and inner workings that drive its dynamics.

eXp Luxury prides itself on its uniquely collaborative approach to the luxury real estate market. How does its philosophy align with your own, and how has this synergy contributed to your professional growth since eXp Luxury’s launch last year?

The collaborative philosophy at eXp Luxury has been a remarkable alignment with my own professional values and has significantly contributed to my growth since the division’s launch last year.

It’s impossible not to notice the stark difference when you compare eXp Luxury with established “premium brands.”

The standout feature is our dedication to collaboration, something that is often commented upon by new members who join our masterminds or attend our luxury programming during EXPCON. Traditionally, many agents in the luxury real estate sector tend to guard their strategies and insights closely. “Here, Glenn Sanford has cultivated a culture of ‘a rising tide floats all boats,’ and this principle is abundantly evident in the Luxury Division.

The extent to which we genuinely support each other and share knowledge often leaves people amazed and impressed.

This collaborative spirit has not only reinforced my commitment to the brand but has also had a tangible impact on my professional growth, fostering an environment of mutual success and empowerment.

As an agent passionate about historic and architecturally significant properties in the luxury market, what unique challenges do your clients typically face in such transactions, and how does being part of eXp Luxury equip you to better serve them?

My sellers often encounter a situation where prospective buyers are drawn to the allure of these unique properties without fully comprehending the practical aspects involved. These challenges range from the difficulty of finding suitable comparable properties for valuation to the notably higher costs associated with replacements. Being a part of eXp Luxury has proven to be immensely beneficial in this regard. It allows me to engage in collaborative discussions and brainstorming sessions with fellow agents nationwide who are also grappling with similar intricacies. Moreover, I have the advantage of a ready-made network of agents who can assist me in effectively marketing my listings.

Reach out to Janie at janie@thecoffeyteamfl.com

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Find your Dream Home, List With Us, or Become a Member today at expluxury.com

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