New episode dropped

Our latest episode of our podcast, Rise Above the Ranks, is a real treat for anyone looking to hear about one of the great successes in the luxury market. Our guest Aaron Kirman has amassed $19 billion in career sales ($2 billion in 2023 alone) and established himself as one of most forward-thinking agents in our business. He is renowned for his deep market knowledge, Rolodex of ultra-exclusive names, and smart marketing strategies.

We loved getting the chance to sit down with him, and we think you’ll love watching or listening. The episode is available now on YouTube and on all the top podcast platforms.

– James and David

Drop in existing home sales bigger than expected

In January, sales of previously owned homes fell 4.9% from December to 4.08 million units on a seasonally adjusted, annualized basis. This was nearly double the 2.6% drop that analysts were expecting. That’s according to the National Association of Realtors via CNBC. Here’s what else the network reports from January:

• While sales were up 2% year-over-year, they were still running at a roughly 15-year low.

• There were 1.18 million homes for sale, up 3.5% MOM and 17% YOY.

• There was a 3.5-month supply of inventory at the current sales pace. 

• The average home for sale last month spent 41 days on the market, the longest since January 2020, pre-Covid.

• The median price of a home sale was $396,900, up 4.8% YOY and the highest price ever for January.

• All-cash offers made up 29% of sales, which is historically high, but down from 32% last year.

• First-time buyers accounted for 28% of sales, unchanged from a year ago, but well below historical averages of about 40%.

Our take

These trends are in line with those we reported last week using Redfin’s market update numbers. One interesting new tidbit: home sales are faring significantly better at higher price points and falling at lower price points. For example, sales of homes priced between $100,000 and $250,000 dropped 1.2% YOY, while homes priced over $1 million rose nearly 27%YOY. That was unexpected. We’ll be watching to see if this trend continues. With that said, get as many listings as you can and help buyers recognize their increased negotiating power. It’s a buyer’s market out there… for the most part… which leads to our next story…

We’re giving away an Amazon gift card valued at $250 USD and a 1-year membership to our new luxury real estate program, Estate Elite (valued at $1500), to both new and existing subscribers to the Blueprint Newsletter. Here’s how to enter:

1. Subscribe to the Blueprint Newsletter (if you haven't already!)

2. Follow us on Instagram: @estateeliteagents & @readtheblueprint

3. Tag TWO friends on our Instagram post

4. Fill out the survey included in the newsletter (it’s quick and easy!)

Entry closes at 6 PM (PST) on February 28, 2025, and two winners will be announced on Instagram on March 4, 2025. Click here to enter!

Top buyer and seller markets in the country

As we reported last week, the housing market has tilted in favor of buyers for the first time this decade. But that fact isn’t true across the board. Sun Belt markets heavily favor buyers with more inventory and, therefore, more room for negotiation. Meanwhile, Northeast markets, with only about a month and a half’s worth of supply (1.54) on average, are massively tilted toward sellers.

Here are the top buyer and seller markets with their respective months of inventory supply, according to Redfin.

Our take

This is why it’s so crucial to track months of supply in your particular market. It’s one of the best ways to if your area is tilting toward buyers or sellers. Use this report from Redfin. They list the months of supply for the 100 most populous metro areas in the country. As we repeatedly say in this newsletter, it’s so important to be able to talk about national trends while keeping your finger on all the trends in your local market.

The 10 most expensive home listings in the U.S.

If you happen to have $285 million sitting in the bank, then good news–you can afford the nation’s most expensive listing in Manalapan, Florida. In fact, five of the nation's ten priciest home listings are in Florida, while Southern California is the runner-up with three.. 

Here are today’s 10 most expensive active listings in the U.S and their list price, according to Redfin:

1. 1960 S. Ocean Blvd, Manalapan, FL 33462: $285 million

2. 100 Bay Road, Naples, FL 34102: $210 million

3. 1261 Angelo Dr., Beverly Hills, CA 90210: $195 million

4. 1949 Glenbrook Inn Rd., Glenbrook, NV 89413: $188 million 

5. 2200 Gordon Dr., Naples, FL 34102: $175 million

6. 190 Palm Ave., Miami Beach, FL 33139: $150 million

7. 217 W. 57th St, Units 217 and 218, New York, NY 10019: $150 million

8. 31062 Casa Grande Dr., San Juan Capistrano, CA 92675: $150 million

9. 594 S. Mapleton Dr., Los Angeles, CA 90024: $137.5 million

10. 3585 Anchorage Way, Miami, FL 33133: $135 million

Our take

Without a doubt, L.A. and New York attract a lot of millionaires and billionaires, but as you can see, the place to be among the ultra-luxe crowd right now is Florida. Despite rising natural disasters and soaring home insurance costs, Florida remains a top choice for affluent buyers drawn to its luxury lifestyle, warm climate, and tax benefits. Cities like Miami Beach and Naples boast extravagant beachfront estates and elite communities, making Florida a leader in high-end real estate.

The news that just missed the cut

• How zoning ruined the housing market in blue-state America

• British billionaire Chris Rokos wants $150 Million for his Florida mansion

• Listing presentation template worth your time

• Buyer of Michael Jordan’s iconic Chicago estate is now renting out the megamansion for $230K a month

• Strategies to lower the cost of your homeowner’s insurance

Foundation Plans

Advice from James and David to win the day

Our latest episode of Rise Above the Ranks has dropped! We had a fantastic conversation with Aaron Kirman. With $19 billion in career sales and $2 billion in 2023 alone, Aaron is a top luxury agent who represents some of the world’s most prestigious estates. He is renowned for his unmatched market knowledge, exclusive contacts, and innovative marketing strategies. He holds the largest market share of luxury listings in the U.S. and consistently sets records with multimillion-dollar sales, including the historic sale of 'The One.' A star on CNBC’s Listing Impossible, his expertise has made him a sought-after advisor, regularly featured in major media outlets. We hope you listen, because it’s a great conversation. Here are some of the topics we covered:

Work Ethic and Specialization –  Aaron attributes his success in luxury real estate to a relentless work ethic and strategic specialization. Starting at 17 years old, he committed to showing up daily, knowing that was half the battle. He carved out a niche in architectural homes, gaining access to high-profile clients in fashion, art, and entertainment. His transition from Hilton & Hyland to the John Aaroe Group was marked by a bold strategy—securing multi-million-dollar listings immediately, proving that success requires both hard work and smart positioning.  

Adaptability and Team Building – Aaron emphasizes staying ahead of industry trends. He credits his early adoption of real estate teams for his continued dominance. By training and mentoring agents, he built a powerful network before team models were widely accepted. He also highlights authenticity, sharing how embracing his personal style over traditional business attire improved his confidence and client trust. His success proves that being genuine and adaptable are essential in an evolving luxury market.  

Resilience in Market Challenges –  Despite industry challenges like wildfires and policy failures, Aaron believes in Southern California’s long-term strength. He disputes claims of mass migration, arguing that deep community ties keep residents committed. However, he stresses the need for policy reform to prevent future disasters. His approach to adversity is proactive. He focuses on opportunities rather than setbacks, a mindset he sees as essential for thriving in real estate.  

Relationships and Playing to Strengths – Aaron secures top-tier listings through strategic relationship-building rather than cold calls, leveraging referrals from business managers, attorneys, and CPAs. He stresses the importance of delegation, knowing his strengths lie in negotiations and client connections rather than administrative tasks. His advice to agents: control your mindset, focus on personal well-being, and harness positive energy to drive business success.

Learn from the Best in Luxury Real Estate!

Elevate your real estate career with Estate Elite! Along with top agents Josh Flagg, Tracy Tutor, and Glennda Baker, get direct coaching from us, James Harris and David Parnes. Gain VIP access to exclusive training courses, live interactive workshops, and a powerful network. Transform your skills in personal branding, marketing, negotiations and much more.

We are offering a FREE 14-day trial where new members of Estate Elite can try out the membership before paying.

Here’s what you’ll gain during your trial:

• Exclusive Access: Join twice-weekly live workshops and Q&A sessions, led by industry-leading top producers.

• Proven Strategies: Build a powerful personal brand that attracts high-net-worth clients.

• Actionable Tools: Learn how to streamline operations, justify your value, and confidently negotiate at the highest levels.

• Industry Insights: Stay ahead of 2025 market trends and evolving conditions.

Gain insider knowledge, industry tools, and direct access to leaders in the field—all in one destination. Don’t just sell luxury—live it, breathe it, and master it with Estate Elite. Try it out. You won’t be disappointed. We really believe that it will elevate your real estate game to the next level.

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Just in Case

Keep the latest industry data in your back pocket with today’s mortgage rates:

“Just because you are doing a lot more doesn't mean you are getting a lot done. Don't confuse movement with progress!”.” — Denzel Washington

Make sure you’re hitting your targets, friends. It’s easy to confuse movement with progress. Keep your eye on the ball and go after it. It’s your life, so make the most of it.

– James and David