Rei Mesa, President & CEO, Berkshire Hathaway HomeServices Florida Realty

Invest:spoke with Rei Mesa, president and CEO of Berkshire Hathaway HomeServices Florida Realty, about shifting market conditions across Florida, evolving buyer behavior, and why human judgment remains central in a technology-driven industry. “Technology and AI are critical tools, but they can’t replace the trusted real estate consultant,” Mesa said.

What changes or major milestones have most influenced Berkshire Hathaway HomeServices’ operations in South Florida over the past year?

2025 was a challenging year for the real estate industry across the board, whether you look at Miami, Fort Lauderdale, Orlando, or markets outside Florida. There was a lot of talk about interest rates trending down, but that didn’t happen. We did see an increase in inventory, which was needed, but buyer demand didn’t rise at the same pace.

Overall, I would describe 2025 as a flat year. Expectations coming out of 2024 were higher than what ultimately materialized. Transaction volume didn’t increase the way many hoped. While average sales prices didn’t drop significantly, asking prices did begin to adjust more realistically to meet buyer expectations, which helped bring some balance back into the market.

One major positive was that Florida went an entire year without a hurricane for the first time in a decade. That helped stabilize confidence and has supported improvements in the insurance environment. We’re also seeing more insurance companies writing policies in Florida again, and buyers now have more choices because inventory is higher. That said, every market remains local, and conditions vary widely depending on where you are in the state.

How is the firm approaching expansion?

We did not open any new offices in 2025. Our focus was on increasing market share in the markets we already operate in and strengthening our presence across the state.

The last acquisition we made was just before Hurricane Ian, in Sanibel Island. The timing was obviously difficult given the impact of the storm, but it remains a strong long-term market, and we don’t regret that decision.

What macroeconomic forces are most influencing buyer and seller behavior, and how has that reshaped South Florida specifically?

Every market is local, and broad generalizations don’t always reflect what’s happening on the ground. Miami and Southeast Florida have benefited tremendously from continued migration from other parts of the country. It’s increasingly becoming a financial hub, attracting companies and professionals from the Northeast and beyond.

That demand has supported pricing, but it’s also made affordability more challenging for first-time homebuyers. New residents with higher incomes tend to push prices up, and that creates barriers at the entry level. Other parts of Florida haven’t seen the same level of demand, though heading into 2026 we’re starting to see more buyers re-engage.

Uncertainty played a big role in 2025. When people feel unsure about economic or political conditions, they tend to pause. I also firmly believe homeownership remains one of the most important ways to build wealth and become rooted in a community.

How has international buyer activity compared with domestic capital recently?

Florida has always attracted buyers from across the United States, particularly retirees and second-home buyers from states like New York, Michigan, and Minnesota. The absence of a state income tax, relatively manageable property taxes, and lifestyle advantages continue to be major draws.

South Florida’s diversity is another strength. Miami, Fort Lauderdale, and Palm Beach together create a region where virtually every language is spoken and every culture is represented. While Miami gets much of the attention, the entire tri-county area is highly sought after.

International buyers have been a bit more cautious lately, largely due to broader political and economic uncertainty. Even so, Florida continues to benefit from strong domestic migration, and I remain optimistic about long-term international interest.

How are your agents reinforcing their role as trusted advisers in this environment?

We view our agents as real estate consultants, not just salespeople. Our goal is to be the trusted advisor for our customers throughout their lifetime, whether they’re buying their first home, a second home, or building an investment portfolio.

We’re also more than just a brokerage. We offer mortgage, title, insurance, and home warranty services, which allows us to manage the transaction from beginning to end. When all those pieces are aligned, the process is smoother for the consumer. Things will always come up in a transaction, but having everything under one umbrella allows us to resolve issues more efficiently and protect the customer experience.

How do you see the role of technology and AI in real estate today?

Technology and AI are critical tools, but they can’t replace the trusted real estate consultant. What they will do is replace professionals who don’t leverage them effectively.

Real estate is also a personal business. Buying or selling a home involves emotion, timing, and individual circumstances. Technology supports efficiency, but customer service, judgment, and trust come from people, and that will always matter.

What neighborhood redevelopment or housing needs are most urgent right now?

Affordable housing is a major priority, especially for teachers, nurses, first responders, and members of the military. Many cities struggle to attract and retain essential workers because housing costs are too high relative to wages.

This is an area where the public and private sectors need to work together. There are opportunities to repurpose underutilized commercial properties into housing that better serves today’s needs, and that should be part of the conversation.

Looking ahead, what are your top priorities for the company and for South Florida?

Our priority will always be our people, both our customers and our sales professionals. They are the heart of the organization. We’re focused on delivering an exceptional customer experience while continuing to attract talent that reflects the diverse communities we serve.

As the market continues to recalibrate, staying aligned with consumer needs and local dynamics will be critical. Real estate is, at its core, a people business, and that will continue to guide how we grow and operate in South Florida and across Florida.