Selling $5M Homes in Ponte Vedra Beach

REE #296 Transcript

[00:00:00] Michael Curet: Real estate is a passion of mine, so, you know, if something goes sideways, yeah. You have to really temper your emotions, you know?
Tracy Hayes: Mm-hmm.
Michael Curet: It's not easy always, especially when you're getting yelled at from somebody on the other line who doesn't see it exactly the same way you do. And calmer heads prevail. I've always learned that in any advice in life. I mean, any situation, let cooler heads prevail.

[00:00:57] Tracy Hayes: Hey, welcome back to the Real Estate Excellence Podcast where
[00:01:00] we dive deep [with] the best in business to uncover what really drives success in real estate. Today's episode is for anyone who wants to understand what it takes to dominate in one of the most competitive and prestigious real estate markets in the country.

You're about to learn how to build trust with luxury buyers, how to consistently stay top 1% of agents over decades, and what it truly means to serve clients at the highest level. From oceanfront estates to executive relocations, you'll also hear what calm confidence, deep market knowledge, and elite-level service really look like — from someone who's not just been in the game, but he's helped shape it.

This former pro tennis writer and rankings coordinator made a powerful pivot nearly three decades ago and has been quietly outperforming some of Florida's biggest names in luxury real estate ever since. Stay tuned because you're about to meet the one and only Michael Curet. How are you doing, Michael?

[00:01:58] Michael Curet: Tracy, good to see you.
[00:02:00] Thanks for having me.
[00:02:01] Tracy Hayes: No problem. Good to be here. Coming down on this, well, Thursday morning here. We got Halloween tomorrow — to date ourselves, it's October 30th.

[00:02:07] Michael Curet: You dressing up or what?

[00:02:08] Tracy Hayes: No, I actually have a football game tomorrow night. I am refereeing the Yulee–Pedro Menendez game. Most counties have moved their games to Thursday nights. This was one of the few games that's left on Friday night, so I’ll be up there. Yeah, good. Tough.

I always get stuck at home anyway, handing out the candy, and I hate doing that 'cause my wife and my kids are running around the neighborhood, you know, seeing everybody and that kind of thing.

So yeah, the days when my boys were young...

[00:02:36] Michael Curet: We enjoyed it a lot and did all the Ponte Vedra neighborhoods. And, you know, more recently it's — you know, we're all getting older, so mm-hmm — our cul-de-sac is... the average age, I wouldn't even want to guess. But sometimes we have a couple of stragglers, but oftentimes nobody shows up.

[00:02:51] Tracy Hayes: Right. You gotta put a sign at the end of the street, say, “Hey, we're here.”

[00:02:54] Michael Curet: It's kind of... You know, Ponte Vedra Halloween trick-or-treating is sort of a unique thing.
[00:03:00] I mean, everybody piles in the golf [carts] and goes to a particular neighborhood. It's not like every neighborhood gets the business, you know? So it's kind of evolved over the years, you know?

But it's fun.

[00:03:13] Tracy Hayes: No, it certainly is that way — the ride around on the golf carts, and then they can dump their bags and come back out. They do all sorts of things.

I want to kick off a little bit — I give everyone a little background on you. And obviously, you had a really unique career prior to getting into real estate. Tell us about how you got into the tennis...

[00:03:39] Tracy Hayes: ...and into writing, and obviously you were able to, I’m sure, meet a lot of really interesting and famous people in tennis.

[00:03:42] Michael Curet: Yeah, it was fabulous. So, I went to the University of Louisiana in Lafayette, Louisiana. I had a journalism scholarship. My father was a journalist, loved sports, so I naturally sort of migrated into writing about sports. Did it all throughout college — covered all the local teams, you know, all the college teams at the school, all the different sports.

And then was looking for a job. A friend of mine, who I also went to college with in Louisiana, had a job he took right outta college for the Association of Tennis Professionals, which is the men's professional tennis tour. And at the time, it was located in Dallas — Arlington, Texas.

[00:04:17] And I said, sounds great. So I was hired. Handled the rankings, you know, input of just data every week after the tournaments were played. Very entry-level type of position. Next thing you know, they saw my writing skills and said, "You know, we have a player newsletter, magazines. We're gonna have you cover some tennis." I said, fantastic.

About a year into it, they decided, "We're gonna locate our home of professional tennis. We're looking all over the country, but we've sort of earmarked a place. Have you ever heard of Ponte Vedra Beach, Florida?" I said, no, I haven’t. They said, "Well, it’s the home of the PGA Tour."

[00:05:00] I said, fantastic — I love golf too. So next thing you know, we come in for a visit. They’re building a beautiful facility and the North American headquarters of the ATP Tour — which of course has boomed now. These days they have offices in London, Monte Carlo, Australia, and a small office in... it used to be Ponte Vedra Beach, now it’s Atlantic Beach, Florida. But they moved it recently.

But it was a great experience. I only did that for about four years. I got to cover some of the great tournaments. Travel was amazing — went to Wimbledon, went to Paris for the French Open, US Open several times, and a lot of American tournaments.

[00:05:43] It was a great, great experience. Met a lot of — still have a lot of wonderful relationships with those people. A lot of ‘em ended up settling here. A lot of tennis pros didn’t necessarily settle here, which I think was the goal. But they’re like 38 to 40 weeks on the road a year, right? So the last thing they wanna do when they’re not playing is, you know, come here and practice.

[00:06:00] But it was a great, you know, Northeast Florida hub for a number of years — and it still is, you know, to fly out of here...

[00:06:09] Tracy Hayes: Just curiosity — a lot of, like, because a lot of the pro golfers live in Florida.

[00:06:13] Michael Curet: You do.

[00:06:14] Tracy Hayes: And you have a few pro — you, the international ones...

[00:06:18] Michael Curet: Even the ones from Europe — at some point, you do. You have a lot of 'em. And even the great young Swedish player — Borg now has bought a house in Nocatee.

You know, for the longest time, Vijay Singh was here. David Duval was here. Jim Furyk is still here. You have a lot of that. And I’ve had some relationships — Len Mattiace, good friend of mine who almost won the Masters, is still here.

He was actually the only real local boy that made it good. I mean, there were — he was a Ponte Vedra kid that went to Nease and became a golfer, and it escalated from there.

[00:06:53] Tracy Hayes: Went to tennis. I think you have a perspective though on this — someone who's not from here. Obviously, you moved here 'cause the office moved here, right? That's what brought you here.

[00:07:00]

[00:07:00] Michael Curet: That's right.

[00:07:01] Tracy Hayes: But someone who doesn’t live here, who is, you know, playing golf or tennis at a high level — obviously, we do have the TPC and the tournament every year here, but for tennis, it’s not like we have a tennis stadium where there’s some big competition going on here.

Why would a tennis player, playing at the pro level, be attracted to Ponte Vedra?

[00:07:24] Michael Curet: Well, they’re attracted to Florida in general.

[00:07:26] Tracy Hayes: Mm-hmm.

[00:07:27] Michael Curet: Just like the golfers, right? So many great golf courses. The climate, the ability to practice, the ability to sort of...

We were hoping that the executive offices would, you know, allow people to come here, and they had — for the younger players — something called ATP Tour University, where they would train them on how to manage money, how to manage your schedule, you know. So that stuff was helpful.

[00:07:52] Michael Curet: And they did a lot of meetings here — the tournament directors from around the country. And you did get a few guys that stayed here. You had guys that came in and practiced for a couple of months at a time.

[00:08:00] I remember Pete Sampras came in, and we all went to lunch together, you know, and I said, “Oh my God, this guy just won the US Open. I’m having lunch with Pete Sampras.”

But you had guys like Todd Martin, who’s, you know, been in a couple of major finals and was, at one point, director of the International Tennis Hall of Fame. MaliVai Washington, who has a huge foundation here for kids — he got to the final at Wimbledon. He had a nice career as an American player.

[00:08:26] You've had a few guys that have settled in here, but not many. You know, most of them have places abroad and other places in other parts of Florida where they have trained — maybe for years.

[00:08:32] Tracy Hayes: The high profile — like, well, Pete Sampras probably would be recognized. Most people who have anything to do with tennis or are watching sports would probably recognize him and say, “Ooh, is that Pete Sampras? That guy looks familiar.”

[00:08:44] Michael Curet: He doesn’t get out much, right? I mean, he keeps a low profile these days.

[00:08:47] Tracy Hayes: But as far as the area of Ponte Vedra — because it isn’t, you know, a big tennis tournament-type of area — they can be low profile and go out to the grocery store without being mobbed.

[00:09:00] Is that kind of the attraction? It’s kind of a... It’s very nice. It can be luxurious, they can get their climate, but also they’re not followed or seen. I mean, if Trevor Lawrence walked down the street, obviously everybody would be running up to him for an autograph.

But some of these guys just want to go out to dinner without being bothered, right?

[00:09:18] Michael Curet: Yeah. I mean, most of 'em aren’t six-foot-seven and have long hair, you know. But there are some tall tennis players. I mean, the power game has developed over the years.

You’ve got a guy like John Isner, who’s 6’11”, who retired recently — big star.

But you’d be amazed. I mean, you know, golf is just internationally known television-wise. It is on a lot more than professional tennis in the United States, anyway.

[00:09:44] In Europe, tennis is on everywhere — as well as soccer and golf. But, you know, the big thing in May, after the retirement of Rafa Nadal — Nadal retired and was, you know, given a special ceremony at Roland Garros in Paris at the French Open this year in May — it’s rumored that he is playing golf in Ponte Vedra.

[00:10:00] And I happened to run into... you know, I went in for Starbucks at the Marriott in Ponte Vedra — and who’s getting off the van from a round of golf but Rafa Nadal?

So we had a nice exchange, a photo moment, all that stuff. Yeah, Nadal played long after my time with the ATP, but what a nice guy.

[00:10:21] Tracy Hayes: Yeah.

[00:10:22] Michael Curet: And he was not mobbed by people. There were a few people walking around. I don’t think tennis is as internationally known and recognizable — you know, these players.

I mean, a few people may say, “Oh, that’s Roger Federer, that’s Rafa Nadal,” you know, “That’s John McEnroe.”

It’s not as big in the United States as it is — as golf.

[00:10:43] Tracy Hayes: Well, I believe — and I know we’re going way off on tennis here...

[00:10:47] Michael Curet: We are a little bit.

[00:10:48] Tracy Hayes: But obviously my topic, by the way. You know, I think to me, my favorite time when I was growing up, obviously, was McEnroe, Connors, Borg, Lendl...

[00:10:56] Michael Curet: Great moment. Yeah. Those guys are still around, as far as spokesmen of the game.

[00:11:00] But — so anyway, yeah — the nice thing about this is, it enabled me to make some relationships.

When I did decide to go into real estate, immediately I had some relationships with the PGA Tour from being here with the ATP, of course, as a former employee.

And I worked for Prudential Network Realty — you know, Linda Sherrer, you know, wonderful lady who founded that company. Now it’s Berkshire Hathaway — it’s grown, like, it’s just blown up.

[00:11:27] I worked there for almost 15 years. And they had the Jacksonville Jaguars account. Tom Petway was part of the committee — or ownership group — that got the Jaguars here, with Weaver, of course.

And Tom Petway was also an integral part of Prudential Network Realty. So they had that account.

[00:11:47] What that meant for me, as a young guy who had not been in real estate — a flood every spring. A flood of new players would come in. Some of them would rent, some of them would buy.

And I got a phone call — probably my first year in real estate, just green as can be, still kind of learning my way — and they said, “We want you to take these guys out for an afternoon. They’ve just signed with the Jaguars, and not sure what they’re gonna do. Don’t pressure them to buy — you know, they have agents.”

[00:12:17] I got to learn — you know, dealing with agents was an interesting thing as well, but that’s a topic for another day.

And they said, “A guy by the name of Fred Taylor.”

I said, “Sure, I’ll take him out.”

[00:12:29] Ended up getting Fred. We remain acquaintances — I see him every year, we talk at the games and stuff. He’s a great guy.

Anyway, I put him in his first apartment, not far from here — over there off the Southside, in a brand new apartment complex, gated.

He said, “Yeah, if I like it here...” — and he did, of course, he had a great career here — “we’re gonna buy something next year.”

[00:12:51] So I ended up working with him on two houses. And he was a great customer over the years.

And it was great to see him sort of settle into the Jacksonville area and contribute what he has — and he still does.

[00:13:00] Tracy Hayes: Right.

[00:13:01] Michael Curet: So I got to work with a number of those guys.

[00:13:00] Michael Curet: ...and now the Jaguar relationship is different. Berkshire no longer has it as exclusive.

[00:13:07] They sort of spread it around to different realtors around town. I still occasionally will work with a member of the Jaguars — and did this spring, as a matter of fact.

But so, you know, it's great. And that's not even getting into any of the, you know — how did I ascend eventually to RA and the luxury real estate or anything — but as far as early in my career, it was sort of cutthroat.

You know, everybody was out there with a lot more experience than me. You know, I had to learn as I went.

The good thing is, is those relationships — without those relationships in the early going, it would've been a struggle. And it was at times. But, you know, I wouldn't rather — there's nothing else I'd rather be doing.

[00:13:51] Tracy Hayes: How important — you know, like you said, you had the relationships with tennis, and obviously you're stretching over into a little bit of PGA, and people started to know you around. You go into real estate...

[00:14:00] How important was your credibility in your previous career to help you? That people were going, "Hey, if Mike's doing that now, he's a solid guy. He knows what he's doing. He's gonna treat you right."

Because, you know, there’s a lot of — especially with agents — well, I don’t want to say “especially,” I think there’s agents that come in and even their friends and family don’t want to refer them. They’re gonna say, “Let’s see if they stick with it.”

[00:14:20] Right? How important was that credibility going from one industry to another?

[00:14:32] Michael Curet: That was huge. Yeah. I mean, it’s — obviously, if the company that’s assigning the realtors to the Jaguars, I mean, they have some instant credibility there.

[00:14:43] "We have a relationship with this company, so whoever I get is gonna be good," is probably what they’re thinking. Didn’t always work out that way.

But — so yeah, the fact that the Jaguars had a relationship and were using us was huge.

But actually, sort of with the situations that were not that way — just earning the respect of the customer is big.

[00:15:00] And, you know, a lot of the times, with working with some of those guys — and I worked with a bunch — we had a lot of things in common.

You know, I came from a sports background. I could talk about, "Oh yeah, you came from Penn State? Oh, I worked with this gentleman. How about this guy?"

"You guys had a great year last year." You know, so there was talking points. Comfort.

[00:15:23] Honestly — and this is taking nothing away from the industry itself — but there were not a lot of men in 1997, when I first got licensed in real estate in Northeast Florida.

You know, it was dominated by the ladies. And I learned a lot from some great women in real estate, obviously, over the years.

But, you know, there were some of those guys that were more comfortable riding around with a guy that was gonna sort of, you know, talk shop with ‘em.

[00:15:51] Tracy Hayes: Right. I mean, so the professional athletes — and especially as you get to the point of playing professional football — as in tennis, it’s just, obviously not as many, but their network...

[00:16:00] They know people. They’ve been to all these All-Star games. They’ve hooked up with all these different people. They’ve been to places.

So-and-so’s agent knows so-and-so. And they somehow meet and know, and know each other — or know somebody that knows someone in very close proximity — in the level of people that you were working with.

[00:16:20] Michael Curet: Right. Right. It’s sort of a unique fraternity.

I mean, I go to one of Tom Coughlin’s events every year. He has a wine gala that raises — one of my causes is raising money for children with cancer.

So he’s got a great, you know, J Fund organization. And we love a lot of his events and the things that he does.

[00:16:42] And that gathering place — you see a lot of those old players. You see a lot of the people I’ve worked with over the years. You see a lot of the former Jaguars.

You see a lot of PGA Tour professionals, a lot of the local athletes — you know, 'cause it’s sort of a sports-themed type of event. But it’s grown over the years.

[00:17:00] But yeah, just like anybody — I mean, I happened to come in with some sports background — but anybody getting into real estate, successful ones, they have their niche.

They have their — their right buttons that they’re pushing. And they know how to, you know, work the relationships. And they all come from something.

I mean, it might be from a design background, or it might be from a business/financial background. But they all have their connections.

I just happened to have a few that sort of launched me and jumpstarted me in the sports-related industry.

[00:17:25] Tracy Hayes: Right. Let’s talk shop a little for the listeners out there — the agents that, you know, we promised them here at the beginning of the show...

You know — how do you get into the luxury market? And then how do you stay in the luxury market?

Because your reputation is your currency, right?

[00:17:42]

Michael Curet: Yes.

Tracy Hayes: In that area. So just because you’ve got a couple of deals doesn’t mean you are gonna stay there.

You have to deliver at a level of service that, obviously, they’re gonna recommend you to another — you know, another athlete or another just high...

[00:17:46] Tracy Hayes: ...influential or high economic individuals. So tell us some of the things — how you developed over time. You had, obviously, you're going from writing to sales. What were some of the challenges that you had, and what were some of the things that just came naturally to you, that you felt really helped you accelerate your career?

[00:18:12] Michael Curet: It's interesting. Definitely difficult, you know, to get into luxury coastal — oceanfront and waterfront — market. I mean, it's dominated. It has been for years and years, and it goes through cycles, but it's dominated by, you know, a fairly short list of really accomplished realtors who have gained trust and experience over the years by doing it for so long.

And that's kind of how I got into it. A lot of it is breaks. I mean, you'll hear stories about Hollywood actors or songwriters or singers that get the one break, right? They may be great at what they do, but they have that one person, that one song, gives them a break.

So that kind of happened with me a little bit on the oceanfront.

[00:18:51] I seem to remember several years ago there were two lots, side by side, on Ponte Vedra Boulevard that had just been sitting there. You know, for years. It was kind of a down market. You know, people were hurt.

It might've been in the '09, '10, '11 market — or even the next cycle of correction markets, I can't remember right now. But anyway, they were just sitting there.

I would notice these "For Sale by Owner" signs with grass growing over them, you know, for years and years.

[00:19:20] I finally was able to connect with the owner, who was a doctor in Georgia. And we hit it off. We had rapport. And I said, “Listen, I know I can help you with these.”

And I sent him some information. We continued to engage in conversation. And as we built rapport, he felt comfortable with me, I felt comfortable with him — and sooner or later, I get those listings.

Those sell. And of course, when you're picking up leads during a sale — I mean, a sale’s gonna get you other clients who call you and say, “I'm looking for oceanfront. Can you help me?”

[00:20:00] Next thing you know, it's a snowball effect. And that's how it happened with me, several years ago. And I've been able to maintain my consistency.

You know, every year, a successful real estate agent says, “Okay, I had a great year. I’ve gotta do it again.” So that helped me.

That was land, you know. So I've sold more lots on the ocean — I think somebody told me that — did some studies with MLS, and maybe I’ve sold more vacant land in the last eight or ten years than maybe anybody in Northeast Florida.

I don't know if that’s actually 100% factual today as I sit here, but I’ve sold a lot.

[00:20:31] Tracy Hayes: Well, I got two questions off that. One — you're building rapport with the doctor who owned those lots. He's up in Georgia somewhere.

Share a little bit with the agents who might be listening right now — what did that take?

Just imagining there was time and phone calls. But what — you said you built the rapport.

I mean, when did you actually end up — did you ever meet him face-to-face?

[00:20:54] Michael Curet: Honestly, I never did.

[00:20:55] Tracy Hayes: Right. So tell me — and I think that’s common in real estate these days...

[00:20:58] With a lot of these investors that buy a lot of property or second homeowners...

[00:21:03] Michael Curet: You know, you have a lot of the snowbirds, right, that are coming down. Hopefully in November we’ll see some more snowbirds.

But anyway — yeah. It's, you know, you have great discussions over the phone. Sometimes you never meet the customer.

And you feel like you know them. And when you do finally meet them, it's like, “Wow, I feel like we know each other. Why has it taken so long for us to meet?” But the opportunity doesn't always present.

[00:21:27] Tracy Hayes: So kind of walk us through what you can remember — ‘cause it was over a decade ago, it seems — but you built rapport.

I imagine you were calling — were you calling him weekly or every couple of weeks? Because this took...

[00:21:39] Michael Curet: Most — you know, honestly, customers are all different.

You have one that wants to micromanage and wants a phone call or will check in with you almost daily.

[00:21:47] Tracy Hayes: Well, I’m talking about when you built the rapport, right? With that particular customer.

[00:21:49] Michael Curet: Yeah — he just, you know, gave me the keys and let me run with it.

And he checked in from time to time. If I had a question I needed to talk to him about — about an interested party or whatever, and kind of take his temperature, how he was feeling about this price and that sort of thing — we would talk.

[00:22:00] If there was a question about a survey, or anything regarding the terrain — “Have you ever had any problems?” “Have you...?” You know, that sort of thing.

Oceanfront, you always have issues you have to consider.

[00:22:19] Tracy Hayes: So from the time you first called him — eventually the grass is growing over the signs — you eventually said, “Hey, I'm just gonna call this guy and see what's going on.”

To the time he actually said, “Hey man, put your sign up there. You take it over and sell these for me” — how long was that? Several months?

[00:22:37] Michael Curet: Probably weeks. Probably weeks. Sometimes it could be over six months, honestly. And they like the persistence, you know?

They like the persistence. But usually I throw some pretty good ammo at ‘em, so to speak, as far as sales.

[00:22:52] You know — “This sold down the street at this price. I think it might be a good time to go ahead and list,” you know, that sort of thing.

And most of those folks listen, you know. And you capture a few of ‘em, and some you don’t.

Some of ‘em still think they can do it better than anybody else.

[00:23:00] Now, that has eventually transitioned into other homeowners that wanted me to list homes on the ocean.

And that’s a really tough market to get into.

[00:23:33] Michael Curet: ...agents that have a background in interior design, right? You know, they've sold a lot of these on their résumé already — you know, getting those end listings.

Initially, all you have to do is get a few. You know, it's like a hit song — have a couple of hits, and they keep coming.

So I'm very fortunate. I'm very blessed. I feel like I’ve really, sort of — I’ve planted my foothold over time. I've been doing this 27 years.

[00:23:44] Tracy Hayes: Give us a little insight on selling a lot on the ocean.

What are the things that a buyer — who obviously plans to build a house on it — what are the things that they need to consider?

And as a real estate agent, what are the things that you should be very knowledgeable of when trying to sell it?

[00:24:03] Michael Curet: It’s really a lot of things. And I really — I come from a background... my grandfather owned a lot of land where I grew up. So I was always interested in land.

You know, these are small pieces of land obviously, but, you know, we work with larger parcels too. But the land thing always interested me.

And on the ocean, over time — it took a while to really learn this stuff — but over time, you become comfortable with:

What's the elevation? Really important when building a house.
Where’s the Coastal Construction Line?

[00:24:34] You know, the Coastal Construction Line sometimes runs right through the house — right through the road — and you have to go to DEP (Department of Environmental Protection) on any oceanfront build anyway.

And you’ve gotta get permission to build anything.

What can you do seaward of the coastal — or eastward of the Coastal Construction Line?

So those types of things...

A few years ago, I discovered what a gopher tortoise was — and why they settle in these lots on the ocean.

[00:25:00] Huge thing. You can’t just zap and eliminate 'em, or shoot 'em, or whatever. I mean, you have to remove those tortoises — and those nests — and replace them.

You know, it’s almost like mitigation of land. If you want to do something on a piece of wetlands, you’ve got to mitigate in another place with another parcel.

I mean, there's a lot of things to know. But the gopher tortoises are a big problem — I shouldn’t say “problem,” I mean they’re an endangered species — obviously, they’re protected.

You know, it’s no different than the sea turtles. You have to be very careful on the beach with those sea turtle nests, and how much light you have shining at your house.

[00:25:39] I mean, there are a lot of things, a lot of rules people don’t know about.

Tracy Hayes: Do you hire somebody out there that does this evaluation?

Michael Curet: Most of them are consultants. I’ve got a relationship with several really, really great people. Some that used to work for DEP that have great experience dealing with issues on the coast.

[00:26:00] And it’s all about making your customer comfortable to move forward.

This is all done in, say, like an inspection period — a due diligence period.

If they want the property, they write the offer, they have a due diligence period — some are longer than others — and they get all these things addressed.

You know, in Ponte Vedra — in South Ponte Vedra, parts of it — you're in pretty good shape because you have good elevations.

When you get down to Vilano and other parts, you saw during the storms — like Matthew and Irma — you've got some pretty rough lots down there that you wouldn't necessarily want to sell to a customer.

[00:26:33] Tracy Hayes: So there’s a lot of issues like that that you have to deal with.

[00:26:34] Michael Curet: Absolutely.

[00:26:35] Tracy Hayes: Well, so if you're the listing agent, you want to do some due diligence so you can obviously — hopefully — market that lot as, “Hey, this has got great elevation, there's no turtles to worry about.”

Michael Curet: Right.

Tracy Hayes: Those are important things that you need to dig into when you're the listing agent.

[00:26:49] Michael Curet: Absolutely. And then, you know, the government actually did a restoration to the coastline all over the state.

That comes into play.

[00:27:00] Does the lot have a bulkhead, or do they need to bulkhead that lot?

Right? Because when you have a nor’easter or a storm, that sand is going to erode — and you're going to have issues.

Always, in Florida. Things you need to be aware of.

But — you know, I’ve got a listing right now on the ocean — a beautiful home that’s a 30-foot elevation.

And I say with complete confidence — knowing, having worked with coastal consultants over the years and looked at some of the maps of the elevations — it’s one of the highest elevations in Ponte Vedra Beach.

[00:27:34] In Northeast Florida. Right?

So that is a huge selling point when you have a guy from California or New York that comes in, that wants to look.

They don’t want to deal with any flooding problems, you know. They want the highest lot they can find that they can build a house on.

[00:27:45] Tracy Hayes: Yeah. Yeah. No, I think the importance here for the listeners is:

Yeah, it’s great to have a coastal lot listing.

But if you’re not knowledgeable on all the different things that someone has to go through just before they even think about building on it, then...

[00:28:00] There’s a lot of due diligence — as a listing agent, and also as the buyer’s agent — you need to obviously educate your sellers and buyers on...

Either presenting that or buying that way.

“Hey, what is it going to take to build?” Just ’cause it’s a lot doesn’t mean they can build what they want on it.

[00:28:15] Michael Curet: Right. And it’s okay not to be knowledgeable — as long as you have the subs or the contractors in place that, you know, can answer questions.

Starting with one of these consultants that I’m talking about.

Tracy Hayes: Right. Exactly.

Michael Curet: So it’s okay to admit, “Hey, I’m not going to pretend to be a lawyer.”

You know? I have some background in law within my family, but I’m not going to pretend to be a lawyer.

I’m going to refer them to an attorney to talk to — just like I would a coastal consultant.

[00:28:42] Tracy Hayes: In the luxury market — and obviously being in the business for almost 28 years now — do clients also look at you and look at your, you know, your record...

But just kind of assume that you might have a Rolodex of possible buyers?

[00:29:00] 'Cause sometimes you get into those price points...

[00:29:00] Michael Curet: Yeah — well, I’m using the analogy of a Rolodex...

[00:29:03] Tracy Hayes: Some people might not — some of these listeners may not know what a Rolodex is, ’cause they’ve never seen one!

But when you get to that level of — you know, if you're selling a multi-million dollar home — there’s only a very select percentage of people that are going to buy that home, let alone in that area.

And people are calling you because they often figure that you probably have two or three — or a handful — of people that are looking.

Because they don’t make those decisions overnight.

[00:29:30] They might’ve been looking for six or eight years or more for the perfect property, and they’re hoping their property is it — and you know somebody that wants it.

You're gonna make that connection pretty quickly.

[00:29:46] Tracy Hayes: Right. Is that something that really differentiates a true luxury price-point agent from someone who wants to be?

[00:29:47] Michael Curet: It does. Yeah. I mean — and obviously with the internet and the websites, and a lot of the luxury agents have these wonderful websites and different avenues where people can find them.

And they can find oceanfront property — and names pop up, you know?

[00:30:00] So I’m sure that a lot of my colleagues in the industry get a lot of leads that way — as I do on occasion.

But the other thing is, I mean, I work for a fantastic company. You know, I made that call 15 years into it, after working at Prudential — right, slash Berkshire.

I made a call to a guy named Scott Williams, who was a broker at the time. He’s deceased now.

Gave me the opportunity — one of the older agents who had done a lot of stuff on the ocean was sort of getting out of the business — and he said, “We do have a spot for you.”

[00:30:34] And I walked right in — in a five-minute hallway discussion — had a new home. And it was Ponte Vedra Club Realty.

I’ve been there for almost... years now. So, another almost 15 years. 14? I think so, yeah.

Going into my 29th coming up.

[00:30:51] And anyway, that is unique because, Tracy — we have probably the only brokerage firm that’s located in a resort in Northeast Florida.

And a resort that’s been there for a hundred years.

[00:31:00] And it’s very exciting, because they’re going through a major renovation now. It’s going to be just five-star quality.

You know — the two golf courses, tennis, the spa, everything you name it, and the hotel.

And we have not only our office, but we also have a branch office inside the hotel.

[00:31:17] So as far as walk-in traffic and those potential buyers with deep pockets — they come in and they walk around this beautiful old hotel and resort, and they eventually find our office.

You know — “I love it here. Maybe I’ll look at Ponte Vedra as a possibility.”

And I don’t think any other brokerage firm can say that around here.

So, you know, extremely fortunate to be where I am. I don’t think I’ll ever go anywhere else — if I have a say-so about it.

[00:31:47] Tracy Hayes: Talk about that...

[00:31:48] Michael Curet: If I have a say-so about it.

[00:31:49] Tracy Hayes: What was said in that hallway that sold you? Now, your needs and wants at that moment in time — almost 15 years ago — versus the needs and wants of the agents today…

[00:32:00] From one day to the next. What was it that they were providing you felt you needed — or maybe you didn’t even realize you needed it until they suggested, “This is what we’re doing”?

What was it that clicked right there at that time?

[00:32:14] Michael Curet: I mean, I kind of — you know, I’ve always held the Ponte Vedra Club in very high regard.

You know, obviously the Peyton family — you know, Gate [Petroleum] — what they’ve done with it and what it means to the community.

If you’ve ever visited there, it’s fabulous.

It’s almost like — this is the elite, this is the Cadillac of the real estate industry.

[00:32:34] And, you know, I had been working for a great company a number of years, but now an opportunity to be at a resort where the ocean is across the street...

I can bring customers and say, “Hey, let’s take a walk on the ocean. Let’s walk on the beach.”

Just a unique situation. And... I couldn’t pass it up.

[00:32:52] Tracy Hayes: Yeah. Yeah.

Alright, let’s go. I created some questions. These are what’s trending — just rapid fire.

[00:32:58] Michael Curet: Do I have a time limit?

[00:32:59] Tracy Hayes: Not necessarily.

So, for the listeners out there — what I researched, and obviously we get to have Mike today — is: What is everyone asking for?

So, the first group of questions is gonna be: What are agents asking for online right now? What are the trending demands and so forth — the things that they’re looking up?

[00:33:28] So here’s the first question:

How do you consistently attract and retain high-net-worth clients in a market as competitive as Ponte Vedra and the Northeast Florida coast?

[00:33:28] Michael Curet: I think trust.

I mean — obviously, there’s a lot of moving parts to any transaction, and on the ocean, even more.

This is high-end property. High-end residential property is — it’s all high-end out in Ponte Vedra these days. But the oceanfront, especially.

And you have to know what you’re doing.

You’re negotiating — contracts are difficult in that high-end range.

[00:33:58] You’d be amazed — people will walk away from a deal over $10,000 if they don’t get what they want.

[00:34:00] Tracy Hayes: Right.

[00:34:01] Michael Curet: You know, buyers and sellers in a multimillion-dollar house — over $10,000.

Yeah. Most buyers and sellers in that range are stubborn in a lot of ways.

They both want to get the best possible deal they can.

[00:34:13] And there’s a lot of things you have to be educated on — inspections, things that go wrong potentially during the due diligence period — how to address them, how to make the buyer feel more comfortable, how to make the seller feel more comfortable.

It’s really trust.

And if you do a good job for somebody — and they have a pedigree, you know, previously, from a recommendation or from somebody else — they’re gonna say, “Yeah, he did a good job for me too.”

[00:34:37] Tracy Hayes: I remember when I had Lisa Barton on years ago — great agent.

Michael Curet: Lisa’s — yeah, know her quite well. She does a great job.

Tracy Hayes: Yeah. And she’s out there in your neck of the woods.

She felt one of the things that was important was to have those contractors on speed dial.

[00:34:58] Because a lot of these buyers are going in and they’re looking at this — and even if it’s on the beach — they don’t like the kitchen or whatever.

To have the ability to get them numbers in a quick fashion — by a reputable vendor who may come in and give them at least an idea, a range of what it would cost to redo this or redo that, or take that wall out...

You really need to be a concierge.

[00:35:25] Michael Curet: Absolutely.

And that gets back to what I was saying — you don’t have to be knowledgeable, like with the coastal stuff, but you have to have those subs, those contractors, those names...

[00:35:25] Michael Curet: ...those experts in the industry on speed dial, as you said.

Because they're gonna want instant answers. And every buyer — every seller — really wants to have as seamless of a transaction as possible.

If the realtor can take away some of the worry and concern of all the details and minutiae that a buyer and seller is gonna have to deal with during contract and prior to closing, it makes it so much easier.

[00:36:00] You know, and they look back on the transaction and say, “You know what? That was very easy. This person was great.”

[00:36:05] Tracy Hayes: Alright, question number two.

This is probably the most popular question. I hear this all the time — and I don’t know if there is truly a precise answer to this question.

What advice do you have for someone looking to break into the luxury market and build credibility — when they don’t have the big listings right now?

[00:36:24] Michael Curet: I just think persistence and contacts.

You know, nurture the relationships. Everybody knows people — has relationships, or probably friends that own maybe a high-end property somewhere.

Whether it’s through the Rotary Club or through their tennis club, or the garden club — whatever.

[00:36:44] Everyone has some relationships, I think.

And, you know, if Susie tells Joanie, “Oh, my friend Joanie’s getting ready to list her oceanfront property,” — maybe you should consider this person.

At least try to get in the door.

[00:37:00] You know, you can’t penetrate the longstanding relationships that are like, “I’m always gonna use this person because I’ve done it for 30 years,” or, “I’m going to use her daughter.”

But — to get into the conversation... That, “Would you be willing to talk to me before you make a decision?”

And if you can do that, and the answer is yes — “I'd be willing to talk to you” — maybe there’s something in that meeting that will trigger: “You know what? I’m going to give her an opportunity.”

[00:37:25] And I tell you what — breaks. We go back to breaks — like songs or actors, they get a break.

I have a very good friend of mine — he’s one of my best friends — but as far as dealing with oceanfront homes and land, he gave me an opportunity.

It’s Peter Bragan. You know, Peter used to own the Jacksonville Suns.

[00:37:45] Great friend of mine. And I’ve helped many members of his friends and family.

And, you know — it takes that one. He trusted me.

We had done a lot of stuff with the Catholic Knights at the ballpark while he was still owner of the Suns.

[00:38:00] And just got to know him. And he said, “Yeah, you’re in real estate out there, aren’t you?” I said, “Yeah, I am.”

And you know — it takes a break.

[00:38:11] Tracy Hayes: But you put yourself in the facility — being part of that organization, the Catholic Knights or whatever — to actually run into him and meet him, and that sort of thing.

[00:38:18] Michael Curet: Yeah. And I would say that would probably be final — you put yourself in the facility.

We had a very positive experience with the transaction. So, you know, you deal with people and...

[00:38:27] Tracy Hayes: And if it's a great experience, you're gonna remember that.

[00:38:29] Michael Curet: Yeah. And I think that's a big part of it.

[00:38:31] Tracy Hayes: Alright — you've been ranked in Jacksonville's Business Journal Top 100 agents for five years running.

What are your daily habits or systems that drive that level of consistency?

[00:38:41] Michael Curet: Every January 1, everybody in my office says, “Okay, how are we gonna do it again?” Or, “Had a down year — what am I gonna do different this year?”

So I look at a lot of that stuff. But most of it is nurturing the current relationships I already have.

[00:39:00] Finding out if any of their people — any of their friends — need help, any of their family.

Just staying on top.

Any sale I’ve ever made — and I’m not the best about this — some people are fantastic. They send out the one-year anniversary cards, “Happy Birthday,” “It’s been a year since you’ve been in your new house.”

That’s really not my style — but that helps.

[00:39:20] It helps. But yeah — nurturing the relationships.

So a phone call. A text. “Hey, what’s going on?” “Let’s catch lunch.” “Let’s have some coffee.”

“You know, I see you added a deck behind your house — looks great!”

Just staying engaged, I think. And sort of building.

I think, you know — you stay engaged. And fortunately, Tracy, I’m really active.

[00:39:42] I mean, I play a lot of tennis. I play some golf. I’m involved in a lot of different things.

So I keep seeing a lot of the same people — and making new friends, you know?

[00:39:48] Tracy Hayes: Yeah. That’s the key.

Well, everyone’s not buying and selling every day, so you may hang out with that person for two years before they ever...

'Cause now they’re ready to do something and they’re gonna call on you.

[00:40:00] That’s just the unique thing about our business.

It only takes a few deals to make a great month.

And, you know, it may be someone that you’ve been nurturing — or known for a decade — before they’re like, “Oh yeah, I’m ready to buy a new house now,” or “I’m looking to sell my house.”

And that’s kind of the excitement of it.

You just — it’s like a Christmas present.

[00:40:00] Michael Curet: …when that person calls you that Monday morning: “You know what? We were talking this weekend — we've known each other for six years now, playing tennis together — hey, would you list my house?”

[00:40:26] Tracy Hayes: Right.

[00:40:26] Michael Curet: Yeah. And it works.

I will say this — what works for me doesn’t work for everybody else. Right? I mean, there’s other things. Some will, you know, they live by the internet.

They’ll pay the large fees to subscribe to lead services and things like that. They’ll do cold calling, you know, like the old days.

I don’t do any of that.

[00:40:53] I kind of just think that everybody’s different. You know, what works for some will not work for others, and vice versa.

[00:40:53] Tracy Hayes: For you, your involvement in playing golf at the club, you playing tennis — two things you love to do — you enjoy it.

[00:41:00] And that’s the circle that you’ve created.

Where a lot of people don’t have those hobbies to put themselves in front of people. But I think one of the key points you made earlier — to get in the luxury market, you kind of have to start.

You have to involve yourself into something that — hopefully — you’re gonna run into that one person that’s gonna give you that one chance.

[00:41:21] Michael Curet: Can I say one thing?

[00:41:21] Tracy Hayes: Of course.

[00:41:22] Michael Curet: The other thing that I think helps maybe younger people that are in the industry — that are kind of wandering, like, “Listen, how do I get jumpstarted?”

I’ve been proactive. You know, we went through COVID and everything, got through it, and things were crazy. There was high demand for property.

That’s when the off-market properties really kind of took off.

[00:41:44] And you have to have the initiative — and I did — to reach out to people.

Whether it’s through a note card in the mail, or if you happen to know them and have their phone number, you can reach out to them.

“Hey, do you know what’s going on in the market right now? Have you ever thought about selling this piece over here?”

[00:42:00] And I have good relationships with my real estate colleagues around the area in Ponte Vedra.

A lot of times we’d get on the phone and brainstorm and say, “Hey, listen, I have an off-market property.”

That’s still happening today, by the way. Very active — the off-market property scene.

There’ve been a lot of my biggest and best sales that never hit the market.

And I think a young person, or somebody that’s really kind of in a little bit of a rut — “I don’t have much business. What do I do here?” — they need to really kind of think about picking up the phone or sending a note.

[00:42:30] Eyeballing some property.

I mean, I love to drive, so there’ll be days when I’m just driving around, looking around, writing down an address — or on my phone —

“Right, that’s a really sweet property. 202 M Street. Vacant lot. House falling apart. 50 Maple,” you know?

And it’s really worked for me. And I really think people should be proactive, because you never know what the situation is out there — of somebody that wants to sell.

[00:43:00] You just never know.

[00:43:03] Tracy Hayes: You just never know until you ask.

Well, we know people in life — like you said — you go by a house that doesn’t look like it’s being taken care of, it’s probably somebody who’s procrastinating about selling it and doesn’t know what to do with it.

And now, you might be the suggestion on that call that day.

Michael Curet: 100%.

Tracy Hayes: Give them a nudge, and you never know what might happen.

Michael Curet: Exactly. Exactly. That’s actually very, very priceless advice.

[00:43:27] Tracy Hayes: How important is patience and calm communication in luxury real estate?

And how do you handle emotionally complex, high-stakes transactions?

[00:43:38] Michael Curet: I try not to get emotional.

You can probably talk to my wife about that.

Real estate is a passion of mine, so — you know, if something goes sideways — yeah, you have to really temper your emotions.

[00:44:00] It’s not always easy, especially when you’re getting yelled at from somebody on the other line who doesn’t see it exactly the same way you do.

And calmer heads prevail. I’ve always learned that in any situation in life: let cooler heads prevail.

So — calm down, take a deep breath, step back, and say, “Let’s take the emotion out of it.”

That’s the first thing. Try to get the seller or the buyer you’re talking to not to be emotional.

Take the emotion out.

[00:44:28] You’re talking about millions of dollars sometimes — or hundreds of thousands of dollars.

There’s a lot of emotion in there. I mean, that’s a big payday — or potentially a big loss.

[00:44:33] Tracy Hayes: Can you think of a story right now where things got a little tense — without exposing names or addresses?

Just one, if you got a couple — facts tell, stories sell. That’s my...

[00:44:41] Michael Curet: Some of them are sadder than others.

Let me think about that for a second...

There was a situation years ago with an elderly lady in a condominium out at the beaches.

And somehow we found each other, and she wanted me to list her property.

[00:45:00] She was going off to get married again...

[00:45:00] Michael Curet: …perhaps had some memory issues. This is not supposed to be funny, but it kind of is — you know, in a comical way.

And everything worked out, by the way.

[00:45:13] Tracy Hayes: Okay.

[00:45:14] Michael Curet: And she’s checking in with me from time to time.

This was not so much emotion as much as it was just a unique situation.

So she said, “Oh, are we still closing this week?” Somehow she got confused with the time. She said, “Okay, I’ll have everything done and out of here.”

We show up to do the walkthrough on the morning of the closing with the other customer, and the place just looks like it’s ransacked.

She’s crying. She’s sitting in a pile of all of this stuff — boxes and clothes and, you know...

[00:45:46] She says, “I don’t know what to do. I lost track of time.”

And, you know, that’s when the cooler heads have to prevail.

The other person was about to go sideways.

We rescheduled everything and everything worked out.

[00:46:00] As far as emotion, you know — yes, have I been yelled at before over the phone? I’m sure every realtor has, right?

And, you know, it could be over a misunderstanding — a misinterpretation of what was conveyed to a buyer or a seller, you know?

As far as a closing time or what they would do — what I mentioned in inspections, or how much they would pay...

[00:46:26] Tracy Hayes: With these price points of some of these homes — some of these people bought them back when they didn’t pay very much, even, you know, at the time.

But obviously as Jacksonville’s grown — Ponte Vedra, the price points go up.

And now maybe one spouse has passed away. Or maybe both parents have passed away.

The kids are taking over.

[00:46:46] And now you have these — I would imagine — millions of dollars sometimes on the table.

And we know the blood is — or the money is much thicker than the blood, I should say.

Have you had one of those situations where it was a problem trying to close an estate — where you had to bring three or four people, the kids or whoever — who were involved, and bring them together to say, “Hey, this is what you’re getting, we’ve got to sell it,” or just working through that transaction?

Because it’s not always one-on-one.

You might have a group of people who’ve inherited that house, and now you're trying to sell it and get everyone to sign the contract.

[00:47:26] Michael Curet: Yeah. It happens all the time.

I mean, it really does — especially in LLCs and estates and trusts. Getting everybody on board — that’s their inheritance in a lot of cases, you know.

Most of the time, you can kind of pull everybody together. And sometimes the attorney is even there to soften the language and get everyone comfortable.

But yeah, it happens quite a bit.

[00:47:49] I’m dealing with one right now — on a condominium that has a lawsuit going on with all of its members over condo issues.

Lawsuits with the builder.

You know, the buyer has got all of their money invested into this loan, and of course, lenders don’t always lend on condos that have litigation.

[00:48:00] So she had to go out and find another lending product — and she did.

I represent the seller in that one.

There was a concession made by the seller.

I basically told her, “Listen, the buyer doesn’t have any more money to come forward with, and there’s going to be some additional closing costs and a higher interest rate.”

The buyer made a request to ask for some closing costs, and the seller agreed.

Everybody’s happy now, and we have a closing date.

[00:48:30] But you just have to give and take.

I’ve probably been yelled at — you talk about emotional transactions — I’ve probably been yelled at and hung up on more by other realtors rather than customers.

[00:48:44] Because they get emotional.

“Why won’t they take this deal?”
“I’m done.”
You know?

But I always have their number.

[00:48:51] Tracy Hayes: What’s your advice to the agent on the other line?

Because this is a very common topic, and it’s usually brought up by my guests — real estate agents — about some of the agents on the other side that’ve got to take their emotions out of the situation.

[00:49:00] And understand — you have a buyer, you have a seller, and it’s the two of you, the two agents, who come together to get the agreement to where they are willing to go to the closing table.

And they accept the terms eventually and close.

But to get hostile and hang up the phone on you —

[00:49:24] Michael Curet: You’re dealing with all types of personalities.

And I’m a pussycat, right? I’m an easy guy to get along with.

[00:49:30] Tracy Hayes: Right.

[00:49:30] Michael Curet: I think so.

But anyway — no, all joking aside — you know, I do have a lot of friends in the industry, and I feel like I can talk to everybody.

But at the end of the day, the real request and the real terms obviously need to be put in writing.

[00:49:50] Everyone needs to be in agreement.

And all these implied emotions over the phone — you don’t know if it’s coming from the seller or the buyer, or just an agent that’s hostile.

So you just have to put it in perspective.

I’ve gotten upset about things — with people I’m comfortable talking to that way, that I know really well — “Why... what’s going on?”

[00:50:00] And, at the same token, that comes back from the other end as well.

But yeah — it’s a high-stress-level industry.

All the pieces have to fall in place.

I like to think that, you know, it’s almost like we’re defense lawyers.

We’re in a courtroom and we constantly have to state our case.

[00:50:27] Tracy Hayes: Mm-hmm. Realtors…

[00:50:27] Michael Curet: Realtors have a little bit of that in them, yeah.

And most of the time, you know — if you’re cordial and respectful...

[00:50:45] Tracy Hayes: Well, the perception is — obviously, there’s quality people like yourself, Lisa Barton, and others out there who are doing great business, have been out there, know the back corners and the alleys and everything out there.

[00:51:00] But then there’s another group of agents that are perceived to be out there — and you can tell me if this is true or not, or maybe you just want to no comment — but they’ll go out and hang their license at some of the offices out there near the beach, because they’ll go in there and sit desk duty.

And hopefully somebody might walk in and they’ll get a million or $2 million sale by someone walking in.

Are there a lot of agents out there — and so they’re only doing a handful, if any deals — but they get that one deal and they gotta hold onto it?

[00:51:37] Michael Curet: I’m a big fan of desk duty, by the way. I mean, floor duty at our resort is good.

[00:51:42] Tracy Hayes: Right. I’m sure you get some interesting conversations. I don’t dismiss that.

[00:51:44] Michael Curet: But the people that just sit there and want it to fall in their lap — that have dollar signs in their eyes — right?

There are some young people in the industry that get into the business with those expectations.

And you have to work.

[00:52:00] You’ve gotta learn real estate license law. You don’t take that test and just be done with it after that.

I mean, you have to stay on top of it.

There’s ever-changing laws, you know — obviously with the commission lawsuit that was settled and the changes in the disclosures that we have to make now.

[00:52:17] Tracy Hayes: Right.

[00:52:17] Michael Curet: I mean, you have to stay on top of it.

And it’s actually something that I love to do.

[00:52:22] Tracy Hayes: That’s really actionable, because you can control that part.

That’s just you putting in your time, your CE, and, you know — obviously going to your sales meetings and everybody’s kind of talking about those things.

But it’s the other things you’re doing — even though you’re playing tennis and golf — your collateral benefit of doing those things you enjoy, you’re also spending time with people.

[00:52:42] Like Bobby Brennan — she said her daughter said something — she’s having the church conversations.

Because she goes to church and after church she hangs around and talks to everybody. So everybody knows Bobby sells real estate.

You hang around and have the conversations — whether it’s having a drink or lunch after playing a round or whatever it is —

That’s the difference between you and the agents that you were just kind of gesturing to.

[00:53:00] It’s spending the time to actually have meaningful conversations, even though it may be three years before you ever get something from that.

[00:53:13] Michael Curet: Right. That’s right.

And the young agents — and I’m not saying they’re all young — a lot of people, after one career, will get into the business now.

But the new agents, I should say — you have to have a good broker.

You’re not going to know everything walking in. You’re going to be somewhat green. It’s going to be a learning curve.

You’ve gotta have a good broker.

I mean, we’ve had great brokers at my company.

The current broker, Jesse Kibrits — great.

I can go to him anytime. He’s always there for us.

We’ve got a good system in place.

[00:53:46] So you’ve gotta have a good broker that can help the young agent or the agent that is inexperienced.

[00:53:54] Tracy Hayes: How important is — you know, you’ve mentioned Ponte Vedra Club Realty several times and how much you enjoy it and the brokers there — but how important is the collaboration between the agents?

Because I imagine when you’re dealing with these unique, custom homes, you have unique situations.

We already know real estate transactions — every one of them is different, no matter where you’re buying.

But I imagine out there, it’s almost at a higher level.

Are you guys collaborating and sharing your experiences so when the other agents come upon similar situations, they’re already aware of, “Oh, you know what, I remember so-and-so in the office telling me something”?

Having that collaborative effort?

[00:54:23] Michael Curet: Yeah, it’s a close extended family, really.

It’s grown quite a bit. I mean, when I came into PV Club Realty, 25 agents maybe that were really active.

Probably about 85 now, or more.

And we have some St. Augustine presence too — that’s part of it.

But yeah, I mean, for the strong core of top-producing agents — we’ve been around, we’ve been in this game for a while.

We’re friends. We’re close.

We do things socially together on occasion.

[00:54:48] We try to do mixers, we try to get together periodically.

We have brainstorming sessions.

I mean, yeah — we all get along. We’ve all had the same problems.

We all confront the same challenges in the market.

So, yeah — it’s great to have a good close-knit core like that.

[00:55:06] Tracy Hayes: Yeah.

Alright, these are buyer and seller questions here.

What should buyers know before making an offer on an oceanfront or Intracoastal property in Ponte Vedra or Vilano Beach?

You talked a little bit about that already…

[00:55:20] Michael Curet: Exactly — with having their consultant.

They’ve gotta do their homework.

They’re going to get a due diligence period anyway.

So there’s time.

If you’re in a hot market and you don’t make the offer — you’re going to lose the property.

Make the offer, get...

[00:55:26] Michael Curet: ...under contract and have your due diligence period. And know that you’ve gotta check out the land. You’ve gotta know where the construction line is.

Insurance — insurance, of course — if you need to get it, get insurance.

You know, do you have any challenges? Do you need fill? Are there challenges with the gopher tortoises?

[00:55:50] Right. Is there a bulkhead? I mean, is there problems with erosion?

You know, has this one had good restoration with the government program?

I mean, there’s a lot of things — even...

[00:55:58] Tracy Hayes: The lots that are not directly on the ocean that might be on the other side of A1A — what are some of the challenges that they have that you should be aware of?

[00:56:07] Michael Curet: I mean, same thing. I mean, elevation — even on the west side — you have challenges.

You know, Ponte Vedra has not had too many problems during the bad storms, but further south...

You get a little bit further south, and Vilano — and I hate to be beating up Vilano, because there’s some great things down there —

Vilano’s come back pretty nicely with some good construction. And I think they’ve really increased the standards in the building industry down there.

But you’ve got a lot of properties between the ocean and the Intracoastal that are really low back there.

[00:56:39] A lot of houses flooded during those storms.

You don’t see as much of that here in Ponte Vedra — the elevation’s different, for the most part.

[00:56:49] Tracy Hayes: For sellers listing luxury homes in 2025, what’s the biggest mistake you see and how do you guide your clients to avoid it?

[00:56:55] Michael Curet: Overpricing. Is that quick enough for you?

[00:56:59] Yeah. You know, we were so spoiled during COVID where we could name the price.

And then when we did have a lag in the market — which we are still coming out of — the seller still thought, “Well, my property hasn’t gone down in value.”

And on the oceanfront, they’re probably right. I mean, it has held its value pretty well.

But it’s flattened quite a bit. The market is flattened.

[00:57:22] You know, you ask $15 million for a property — you’re not gonna get multiple contracts like you might have three or four years ago.

Or $10 million even.

Which, it’s crazy to think that those prices have gotten that high — but it may take a while to sell now.

But you still have enough property seekers from all over the country, all over the world, looking at Northeast Florida oceanfronts — especially from California.

[00:57:48] Tracy Hayes: I mentioned New York.

What are some techniques you use? Because a lot of these homes are very unique, right? I mean, you’re talking truly on the oceanfront. They’re all different.

[00:57:56] Michael Curet: Right. I mean, you’ve got some that need work, that are older, that are tired — but it’s a great location.

[00:58:00] You know, but those are the ones that tend to get overpriced.

“We have the best location in Ponte Vedra.”

Well, you’ve got an old house that’s gonna need $3 million worth of renovation.

So you can’t price it right here, even though you want to.

Or — I wouldn’t recommend it. I can’t say “can’t” — there’s no “can’t.”

They can do whatever they want, and sometimes they will get it.

But the newer properties — I mean, it’s sort of the coastal construction, the light and bright colors.

[00:58:30] You’ve got a lot of cod — you know, the cedar shake is very popular now in new construction on the ocean.

So yeah, I mean, people are gonna look for something light and bright that feels like a really new beach house.

[00:58:46] Tracy Hayes: When you're looking north of — going into multimillion — you know, $1.5M and probably higher, to $15 million or whatever...

Are they necessarily looking for a turnkey?

Or do you find a lot of these buyers — a lot of them are paying cash — and they have the ability to spend half a million dollars renovating it?

[00:59:06] Michael Curet: The properties that are lagging on the market are the ones that need work, obviously.

The ones moving quickly — as time goes on, the seller will get more motivated to take less.

So you do have those investors that feel like they always have to get a deal.

Or those buyers that are buying a house and saying, “I don’t need a turnkey — I want to make it my own.”

[00:59:28] “I don’t necessarily like the bedroom layout of this — even though it’s pristine and perfect — it’s not my taste exactly.”

So let me buy an old, rundown property, either scrape it or renovate it, and make it exactly the way I want it.

[00:59:41] Tracy Hayes: What are realistic expectations for home values right now in coastal markets like Ponte Vedra and St. Augustine?

Are we seeing a stabilization or continued growth?

[00:59:54] Michael Curet: Continued growth, I think. Yeah.

Yeah. I mean, if you go down and look around the peninsula of Florida — we’re still a bargain.

[01:00:00] Time on market is a little higher than it was before, and the price has flattened a little bit, but it’s not going down.

And I don’t think it is gonna go down — unless we have some major crisis.

But I think by this time next spring, you’ll see a little bit more lucrative movement in the market.

The reason being — go to Jupiter, Naples, West Palm, Boca, Sarasota...

All of these properties are double, in some cases triple, what you are getting on the ocean up here in Ponte Vedra.

[01:00:43] Tracy Hayes: Yeah.

[01:00:43] Michael Curet: We’re still a bargain.

[01:00:44] Tracy Hayes: Do you guys — because obviously you guys are knee deep in the middle of all this at Ponte Vedra Club Realty —

Do you market in any way to the California area, knowing that we are getting a lot of those types of people coming in? Or the Manhattan area?

[01:01:00]

[01:01:05] Michael Curet: Some of us do, yes. Yeah. I advertise in the Wall Street Journal for the high-end stuff that we list, on occasion.

And yes — we will occasionally get those calls that come from either the print version of the newspaper that runs nationally, or the website.

[01:01:21] Tracy Hayes: Right, right, right.

You’ve sold more oceanfront homes and lots over the past decade than any other agent in the region.

What trends have you seen in waterfront demand, and where do you see it going?

[01:01:36] Michael Curet: Those stats are flattering — but...

[01:01:38] Tracy Hayes: You’re one of the top.

[01:01:39] Michael Curet: Thank you very much. I’ve sold — I’ve sold a lot of them.

[01:01:44] Tracy Hayes: What trends have you seen in waterfront demand, and where do you see it going?

[01:01:49] Michael Curet: Yeah. Obviously, it’s an upward trend.

People are anxious to get into the ocean market, you know?

Those people that we mentioned — California, New Jersey, New York...

[01:02:32] Michael Curet: …DC, you have people coming from internationally. South Florida people are moving up here, believe it or not.

It’ll be interesting to see — after the recent mayor’s election in New York — some people aren’t happy. So, it’ll be interesting to see if we get a little bit of a bump from that.

We did with COVID — when people were not happy with their local governments. You know, California, New York are great examples.

No matter what political affiliation you have, people moved out of those states because they weren’t happy.

So, we may see some people that were thinking about retiring in Florida at some point decide to do it a little earlier.

Let’s do it now.

[01:03:00] So, I think it’s an upward trend. I think we’ll continue to see growth here — because our price, even though it’s rising, when they look at the entire state, they’ll have a comparison and say:

“You know what? Northeast Florida’s pretty nice.”

And we have climate. We have change of seasons.

[01:03:14] Florida’s hot — South Florida, sometimes...

[01:03:16] Tracy Hayes: All in the same day.

[01:03:17] Michael Curet: That’s right.

[01:03:18] Tracy Hayes: Good point.

So anyway, let’s finish with — because this is a real trending topic for anyone buying real estate in Florida — and that’s insurance.

Are some of those properties out there right on the beach uninsurable?

[01:03:31] Michael Curet: You know, I hesitate to use the word uninsurable.

But, um, the insurance industry on the coastline is tough.

And after storms, you know, it gets even tougher.

My experience has been: I’ve always been able to get insurance for my customers.

Maybe it’s because the properties were not in total disrepair in most cases.

[01:03:50] But it is tough, and you just have to shop it.

[01:03:53] Tracy Hayes: Well, I imagine there’s a select group of insurance companies that will actually take it on.

[01:03:57] Michael Curet: Yes. And you know, I’m fortunate to have a couple of insurance brokers that I deal with who really will go the extra mile and say:

“Listen, I’m laying it in your court. See if you can help them.”

And in most cases, the answer is yes.

So — you know, it’s how much do they want to pay?

[01:04:11] But it’s not exorbitant.

Now, you have the National Flood Insurance Program that will cover a small amount for most people.

But on the high-end oceanfront estates?

[01:04:19] Tracy Hayes: I imagine the premiums get up there.

DeSantis is working on property taxes.

We were talking about the mayor election in New York, which — you know — Ryan Serhant definitely believes people are making that move out of New York.

[01:04:32] And I had a lady on with Coldwell Banker, Warburg, out of New York last week.

We did a remote podcast, and we touched on this a little bit.

But with DeSantis possibly doing the property tax adjustment for the state —

I mean, if that is something like — and he’s talking about, I don’t know if you’ve read the full details —

But the headlines are like: remove property taxes altogether.

Which I’m like... how can you do that completely?

[01:04:56] Even reducing our taxes — which are, respectively, lower than a lot of the Northeast or obviously California —

What do you think that does for Florida real estate?

[01:05:04] Michael Curet: I need to do a deeper dive into that.

You know, obviously, I think Governor DeSantis has done a fantastic job on a lot of fronts.

I’m not so sure about eliminating property taxes or significantly reducing them.

[01:05:19] I’m not so sure about that.

Obviously, there are things out there to help people — like homestead…

[01:05:28] Michael Curet: They could increase their homestead or whatever, but removing property taxes, I kind of feel like, okay, are they gonna get you in another area?

I mean, you know, if they remove the taxes — are you gonna pay every time you buy or sell your home? Are you gonna pay another exorbitant fee?

We do — there's no state income tax already. So, I mean, if they get rid of real estate taxes... I'm thinking the only way to — how are they gonna generate revenue? Sales taxes?

[01:05:48] Tracy Hayes: Sales tax is the only other area that I could think where they up the sales tax a couple percent or whatever. I don't know what it would take to offset.

[01:05:56] Michael Curet: Right. So I kind of feel like they're gonna have to replace that revenue.

[01:06:00] And where's it gonna come from? And I'd like to see that plan before I make a judgment on the removal program.

[01:06:06] Tracy Hayes: Well, I mean, I think they still definitely need — well, we know one of the challenges in St. Johns is obviously infrastructure and the roads getting done.

They drag their tails sometimes on some of these very small projects, but they need to be done ‘cause they’re juggernauts. Absolutely.

And yeah, where’s that? The importance of that money?

And obviously we need the schools — because, you know, more population — we are growing here as a region. And new schools are having to be put up, and the cost of that.

So, you know, if you remove property tax, I mean, you still gotta have some sort of thing in there for the schools and that sort of thing, right?

[01:06:40] Michael Curet: Yeah. Like I said, I’d like to see more.

[01:06:42] Tracy Hayes: Yeah.

[01:06:43] Michael Curet: So I can discuss it maybe at another time.

[01:06:45] Tracy Hayes: Yeah. Well, it’s obviously not a reelection promise that he’s putting out there just to get votes. So, I’m real curious where he takes it.

Obviously he must have a plan of how, you know...

But some of these counties — that income. But I think what they’ve also found: there are a handful of counties in the state where their budgets have gotten out of control.

Their budgets have gone up exponentially over the last number of years. And obviously they think there’s some fraud and not-so-great things going on.

So that investigation is going on.

Mike, is there anything else you’d like to add?

[01:07:18] Michael Curet: I don’t think so. I, um...

It’s great as we get into fall here, you know, some beautiful weather out there.

The company that I work for, the Ponte Vedra Club — I just encourage people to come in and call, come by and see what’s going on out there.

Just take a drive down the boulevard. It’s gonna be amazing, this transformation when the Ponte Vedra Club is completed.

[01:07:37] It’s gonna be, you know, five stars.

[01:07:38] Tracy Hayes: Now is that your main office or the one in the hotel that you’re renovating?

[01:07:41] Michael Curet: I mean, the main office — the hotel is actually gonna stay pretty much the way it looks now.

But you can see what’s going on. They’re building new buildings. They’re gonna have a new beach club, a new surf club.

They’re gonna have enhancements to the Lodge down the street a little bit as well. And it’s gonna be phenomenal.

So everybody’s excited about it. I think in real estate — people who decide they want to settle here or even have a second home here — are really being driven by some of those things that are going on at the Ponte Vedra Club.

Because a lot of them do end up joining the Ponte Vedra Club, you know?

So, it’s exciting times.

[01:08:13] Tracy Hayes: Was there new ownership or anything that put this into place, or is this just a project they’d been working on for a while and were gonna do this complete makeover?

[01:08:20] Michael Curet: No. This — you know, long overdue.

[01:08:21] Tracy Hayes: Yeah.

[01:08:21] Michael Curet: Yeah. A lot of people point to Sea Island as another local southern resort that had somewhat of a facelift a few years ago.

And you know, now it’s our turn.

And Ponte Vedra Club and the Gate corporation have done a phenomenal job.

I’ve seen renderings — you can walk in the lobby and see what’s going on and some of the renderings of how it’s gonna look.

And it’s really kind of an exciting time to be in Ponte Vedra Beach.

[01:08:47] Tracy Hayes: Yeah. Yeah, for sure.

Listeners out there, if you could please — if you enjoyed what Mike had to share today, which was priceless information — obviously his contacts will be in the show notes.

[01:09:00] If you’re getting your first listing on the beach, you might wanna call Mike and say:

“Hey, what do you know? What tips can you give me?”

Share some advice. Maybe one of these consultants he could advise you to, you know, get on the speed dial — to give your buyers or sellers some advice buying out there.

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