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!
Follow me on social media at @nickfong_ronival @ronivalvacatios, Facebook/ Ronival Real Estate
Facebook/ Ronival Property Management
Listen to the full episode on
Apple
https://apple.co/3DWeFpJ
Amazon
https://amzn.to/3DOfyAv
Spotify
https://spoti.fi/3jDDcJt
Work With Ronival Real Estate
Ronival Real Estate has helped thousands of buyers and sellers across Los Cabos since 2010. If you’re interested in Cabo Real Estate, our team can assist with everything from showings and negotiations to closing and property management. Have questions? Contact us here or call +52 (624) 227 5766.