A: SEAS was formed in late 2007 but began operations in January 2008. However, the principals of SEAS, Karl Reid Hotaling and Leslie Maister, have been in the business of acquiring, developing, and disposing of land parcels in Florida for most of their careers. In fact, for the last 14 years, the brokerage of land designated for residential and/or mixed-use development has been the primary activity for each principal of the company.
Q: Is SEAS an ongoing entity with an active Broker license?
A: Yes, SEAS has been an active LLC with the Florida Department of Corporations since its formation and has been licensed as a Real Estate Corporation with the Department of Business and Professional Regulation since the initial registration in January 2008. Our license number is CQ1031174.
Q: Where does SEAS offer brokerage services?
A: SEAS’ primary market area is Southeast Florida, specializing in the east coast from Miami-Dade up through Brevard Counties, with specific emphasis on Broward and Palm Beach. However, SEAS has been retained to buy and sell land assets over most of Florida, from Naples/Ft. Myers to Tampa, to Ocala and Jacksonville and beyond. SEAS is also a licensed Real Estate Brokerage Corporation in the state of North Carolina; however, Palm Beach County will always be home.
Q: Can SEAS effectively market and sell my property?
A: SEAS’ principals are self-described experts when it comes to marketing and selling property, but don’t take our word for it. Please ask us for a list of referrals of past and current clients who would be glad to share their experiences. SEAS’ principals’ past experience as home builders, multifamily and “mixed-use” developers and sales and marketing professionals in addition to years of successful brokerage activity allow them to deal seamlessly with a variety of Buyers and real estate professionals throughout the marketing and sale of a property. No real estate related subject matter is foreign, no matter how complex, and if the SEAS team members do not already have the answers to questions, they know where to get them. SEAS’ principals are proactive in solving problems or questions inhibiting a transaction’s progress.
Q: Who else has SEAS sold property for?
A: SEAS was formed in 2008 when the national real estate market and economy was heading into the “Great Recession”. The Sellers of land over that first 5-6 years were typically Sellers who never intended to end up with ownership of a property, or people who were under duress and needed to sell. This consisted of Builders, private equity groups, FDIC insured banks, and a couple of REIT’s. Companies that didn’t have to sell during this time typically wouldn’t, as who would want to sell in a Buyer’s market? But things turned around in 2013-14 and owners who made it through the real estate downturn began voluntarily marketing and selling their assets. SEAS is working with a variety of owners whose assets are again valuable to investors, builders and developers alike.
Q: Who would work on the marketing and sale of my property?
A: SEAS is a relatively small company. The two principals work hand in hand on each and every assignment themselves and do not hand the assignment off to assistants or less experienced associates after the listing agreement ink is dry. If we don’t have the time to do a good job for a client on their assignment, we won’t take it. We take all inquiries ourselves and perform all the analysis and recommendations ourselves. With SEAS, you get the two principals’ undivided attention at all times. Please ask for a copy of the SEAS’ principals’ resumes for more information on their experience and abilities.
Q: Who decides the price at which a property is listed?
A: This is a collaborative process. SEAS will perform a market analysis prior to the marketing of a property to ensure both SEAS and the Owner have a good understanding of where the market is and what the most realistic value range for the property looks like. If SEAS’ principals and the Owner are not on the same page as far as a property’s market value and a corresponding appropriate list price, we might not choose to proceed with a listing. We won’t tell an Owner what they want to hear, instead we’ll tell them what the market data says and what they can expect. We only want to present reasonable opportunities to our database of Buyers and the market at large as that is the most likely way we can do a good job for our client. We’re retained to sell property, not to simply list it and have it sit on the market for an extended period of time.
Q: How long might it take to sell my property?
A: On average, it takes SEAS 105 days from the signing of a listing agreement to enter into a purchase and sale agreement. That’s about 3½ months, and includes time for the Opinion of Value and production of the marketing materials when the property isn’t even on the market yet. Then we list the property, field calls and offers, assist in the negotiation of the best offer and come to terms with a Buyer on all conditions. A purchase and sale agreement can run anywhere from as little as 15-30 days or as long as 24 months depending on the terms and conditions agreed between the Buyer and Seller.
Q: Has SEAS or its principals ever been the subject of litigation or investigations into wrongdoing in the course of their business?
A: Never. SEAS principals conduct themselves with the utmost professionalism and adhere to the highest ethical standards. Neither the company nor either principal has been engaged in a legal action where the actions or words of the principals have been brought into question.
For any other questions you may have, please feel free to contact our office at 954.562.4879