When talking about the real estate business in Los Cabos, REBS (Real Estate Business Summit) in Los Cabos sets the pace. In February of this year, the Director of B2B Media, Erico Garcia, revealed his insight. His focus was on building commercial contacts between real estate agents in Los Cabos.
In this latest episode of The Nick Fong PODCAST, Nick meets with Erico to discuss the REBS event program, which includes conferences with experts in the industry. Nick is the founder and broker of Ronival Real Estate, so this program has a direct affect on his business. Read on to learn more.
About Erico Garcia and B2B Media
Located in Mexico City, which is where his main office resides, Erico also have offices in Miami Florida and Dallas Texas. His partner runs the office in Miami. In total, Erico has been running his business out of Mexico City for 23 years now. But as he says, they travel often, so they work in many places.
Regarding Erico’s business, B2B Media is centered around real estate. B2B, or Business to Business, means they deal with businesses versus customers. B2B Media is a multi-media platform focusing on real estate both in Mexico and outside of Mexico. They work with developers, investors, brokers and builders to provide them with online content.
Market expectations in 2023 for real estate
Back in 2022, Nick called the real estate market a roller coaster. Although it did grow and it had a positive outcome, it had dramatic ups and downs. Nick said that his Ronival team had gotten accustomed to rapid climbing prices and fast-and-easy sales. Last year in 2022 became a reality check. To explain, the real estate market slowed a bit due to factors like inflation that caused a market normalization.
Nick expects a normal real estate market, which means you actually must work to sell real estate. When he says that, they share a laugh because the market has grown so fast over the last few years that it’s been easy lately. But as we all know, buying and selling real estate takes effort. Now they’re back to reality!
As Nick says, Baja Sur real estate prices will be quite stable all through 2023. He mentions that there will be a reduction in real estate professionals. That’s because they’ll decide against putting in the extra effort required going forward. Also, the normalizing market will cause shifting perceptions now that the real estate boom has slowed down.
How to choose the right broker
Since it has been such an easy market over the last three years, a few people have been selling real estate without a license. As Nick says, that is quite dangerous to both sellers and buyers. A few of the projects in the area have transpired without real representation. According to Nick, not using a licensed agent is super risky.
Come along in this brand-new episode!
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Baja California Sur real estate
Many Americans, Canadians, and people from other countries choose to make Los Cabos and other magical towns in Baja California Sur, Mexico, their home or vacation home. Discover how to purchase your dream home in Baja. Make an appointment with the top Real Estate Broker in Baja: Nick Fong, featured on HGTV’s Beachfront Bargain Hunt.
Since 2010, Ronival has been helping clients find the best homes in Cabo and throughout Baja California Sur. And, they’re highly-skilled negotiators that’ll get you the best price. Whether you plan to buy a property or quickly sell your Baja real estate, they’ve got you covered!
If you’d like to take a tour of a property in Cabo or anywhere else in Baja California Sur, just click CONTACT to inquire. Or, call directly at 619-831-2000. Ronival will be happy to answer your questions You can also schedule a time to show you around this breathtaking location.