Are you receiving Inman’s Broker Edge? Make sure you’re subscribed here.
Broker Spotlight: Craig Studnicky, ISG World and RelatedISG Realty
Name: Craig Studnicky
Title: CEO of ISG World, broker of record of RelatedISG Realty
Experience: 30+ years
Location: Aventura, Florida
Brokerage full name: ISG World and Related ISG
Team size: Related ISG has 375+ agents and ISG World has 30 corporate employees
Sales volume: Related ISG has completed more than $1 billion in sales over the past two years. ISG World is recognized for providing tailor-made real estate marketing, sales and administrative solutions, having sold over $12 billion in real estate across 110 projects since 1992.
Awards:
AAF- American Advertising Awards (2016): Best in Sales & Marketing for ISG World Miami Report, Fall 2015 edition.
South Florida Business & Wealth CEO Apogee Award
Named one of the Power Leaders and Power Brokers of 2022 by South Florida Business Journal
Why Craig Studnicky is in the spotlight
With more than three decades in the real estate business, Craig Studnicky is both an active participant in the markets he serves and an interpreter of market trends. He serves as CEO of ISG World, a fully-integrated sales and marketing organization serving the real estate development industry. The firm has represented some of the most prestigious developers and financial institutions in the country, providing tailor-made real estate marketing, sales and administrative solutions.
In 2011, he co-founded RelatedISG Realty, along with Jorge Perez, Chairman and CEO of Related Group. Studnicky serves as broker of record for the general realty group which now encompasses six offices across Miami-Dade and Broward counties as well as a commercial division.
Studnicky is the creator of the award-winning publication The Miami Report, offering comprehensive and in-depth analysis of South Florida’s residential market. The Miami Report provides updates on the trends and opportunities existing in the various sectors of the area’s real estate market. It reflects the opportunity for investment and development, publishing quarterly information and statistics on the pre-construction and resale markets in the region.
How did you get your start in real estate?
During the summer of 1979, I went to work for a family member in construction on a condo project on the New Jersey shore. While on site, I would listen to the sales agents selling the project, engaging with buyers, and watch them drive their nice cars, all while I was making $6 an hour in construction. That is the moment I realized I wanted into this business, to sell this type of inventory.
It was my family member’s plan all along to have me go into sales but I was always reluctant. He initially brought me into the business on the construction side knowing that I would be exposed to the sales side of things and when I finally got the courage to tell him I wanted to go into sales, I had my real estate license within a week.
What do you wish more people knew about working in real estate?
This might sound very simple, but I wish more individuals understood the fundamentals of supply and demand. When you understand where your customers are coming from (demand) and how developers are meeting that demand (supply), many aspects of real estate become crystal clear. Knowing what makes certain markets move is crucial to your success in this industry.
Tell us about a high point in your brokerage career.
I’ve had two highlights in my career. I was deeply flattered when Jorge Perez, the condo king of Florida, selected me to head our general real estate company, RelatedISG Realty. It was a meaningful endorsement from one of the most successful real estate developers in the country.
The second highlight in my career was creating The Miami Report by ISG World. I published my first issue in 2009 because of the fragmented information that was coming from various sources after the recession in 2008. I am incredibly proud that it has become a sought-after source for industry leaders nationwide to separate the fact versus the fiction of what is happening with real estate in South Florida. We are now in our 13th year of publishing, and going strong.
What’s your top prediction for 2022?
My prediction is that residential real estate prices in the United States, particularly South Florida, at their worst will plateau but more than likely will continue to increase.
South Florida has become one of the most expensive locations in the United States given its strong popularity for both sale and for rent. This has opened the door to alternate locations for real estate purchases like Costa Rica which continues to be the fastest growing location for American real estate purchasers outside of the United States.
The American population in Costa Rica grows by 32 percent each year and has increased by 160 percent from 2016, with approximately 13 families moving to the country daily. In response to this, ISG World is now handling the sales for three beautiful and unique projects in Costa Rica — Ventana Costa Rica, Arenal Hills and Mistico Beach Town and Resort.
We have seen great momentum and success with these ventures, as Americans are ready to make the international move in pursuit of a better market and quality of life.
What’s your top tip for freshly licensed brokers?
Firstly, hire a social media consultant to help build your brand through various platforms. Secondly, learn all that you can about what moves this market. Ask yourself the right questions: Where are the buyers coming from? What size product do they want? And why? Those are the fundamentals for being successful.