What OIR-Bond Alliance Means for CRE

MIAMI—Opulence International Realty (OIR) a South Florida-based real estate brokerage and development firm, just entered into a strategic alliance with full service real estate brokerage firm BOND New York.

Since launching in 2014, OIR has established two distinct divisions that have made an impact on the market, (OSE) Sports Entertainment Division and (DS) Developer Solutions. With 37 luxury agents the firm increased the number of deals it completed in the first half of 2015 by 224%.

OIR offers one-on-one, custom, targeted real estate solutions for local, celebrity, and international clients and developers. BOND New York was founded in 2000, and currently has seven offices in Manhattan with over 500 agents. GlobeSt.com caught up with James Hoffman, president, OIR, to learn more about how the alliance will impact South Florida's real estate market.

GlobeSt.com: How was the partnership formed? 

Hoffman: Real estate is a relationship business and at OIR we understand the strength of our network and how it benefits our clients and our affiliates. The owners of Bond have built a great organization with over 500 agents, seven offices and cutting-edge marketing initiatives. 

During the most recent cycle we have seen a significant increase in buyers coming from New York. Bond and Opulence recognized a unique opportunity to leverage our expertise in both markets and since we are both independently owned it allowed us the flexibility to work with each other and combine our unique marketing expertise and clientele. It was a natural fit.

GlobeSt.com: What does the partnership mean for the OIR  brand?

Hoffman: It's important to start by saying that both firms—Bond and OIR—have seen countless luxury buyers enter the market through Miami and New York that are in search of opportunities outside their current markets. As part of the alliance with Bond New York, OIR is now able to tap into a new market and expand our services for South Florida and Latin-American-based investors seeking property in Manhattan. On the flip side, Bond New York is now able to tap into a new market and expand their services for Manhattan-based investors seeking property in South Florida. 

The partnership is a major growth gateway that helps us redefine our markets, and the resources we'll share will be a win-win for both firms who are heavily focused on expansion and leveraging relationships to engage new markets. By being well versed in the New York market, OIR will be able to provide more valuable services to our clientele.

Second to New York City, Miami's real estate market is one of the top and fastest growing in the world. It's no secret Manhattan living is high demand as the island is another hotbed for development, so it makes sense on both a financial and customer service level.

GlobeSt.com: What does the partnership mean for South Florida and Latin American investors?

Hoffman: Because one of OIR's specialties is relocation services, where our ultimate purpose is to help people establish residence in another geographic area, teaming up with a Manhattan-based firm allows us to present more options to buyers without turning them away due to our any inability to reach said market. Beyond increasing our offerings, Bond and OIR will share marketing tools and technology resources, including the ability for buyers and brokers to connect to a live agent instantly with the click of a button, meaning buyers can be interactive in the pursuit and evaluation of information and can view property listings located in both South Florida and Manhattan. In short, it allows Miami to meet Manhattan, and visa versa.

GlobeSt.com: Why did you decide to bring on an affiliate versus opening a new OIR office in Manhattan?

Hoffman: Both the South Florida and New York markets operate by and large as one, sharing much of the same clientele, so by teaming up, forming a partnership, and sharing our vast network of clientele looking to invest in outside markets, both firms can strategically utilize our strong networks to connect prospective buyers with new and more robust offerings. The partnership will stimulate creative thinking and help us both move forward rather than being restricted to our respective markets of expertise. Why reinvent the wheel?

GlobeSt.com: What's next for OIR in terms of expansion or additional partners?

Hoffman: I'm extremely proud of our accomplishments a year out of the gate. We launched in 2014, and since then, we've done a great job at establishing the OIR brand as the first Sports and Entertainment Divisions in the market led by a team of veterans who assist athletes, celebrities and Fortune 500 CEO's in finding their perfect dream home.

Another distinct division that has made an impact on the market is our Developer Solutions Division, which provides developers with professional services and unique sales tools including equity funding, consulting, sales and marketing managements, design aesthetics, pricing strategies and more. This elevates our brokerage firm and enables us to do more beyond closing a sale. In terms of future expansion plans, OIR is focusing expanding our current platform which will include bringing in new top tier talent and establishing additional office locations that better serve our agents and our markets.