From Professional Golf to Real Estate Success in Sarasota’s Changing Market

Written by:

Steve Marcinuk

Date:

20 Oct 2025

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The move from professional athletics to real estate might seem like an unusual career shift, but for Joseph Lamielle, it was a logical next step. After competing at golf’s highest levels, including two U.S. Open appearances, the Sarasota-based agent has spent over a decade building expertise in a market that has seen significant change.

“I was in South America arguing with a window guy about a project we had going on, and I’m teeing off in 30 minutes,” Lamielle recalls of his days juggling professional golf with real estate investing. “That phone call cost like 80 bucks. It was ridiculous back then, but I’ve always had a passion for real estate.”

When rule changes made returning to the PGA Tour a two-year process in 2012, Lamielle decided to retire from competitive golf after more than two decades. “I was not a happy person towards the end of my golf career,” he explains. “I gave this 20-some-odd years of my life. It was time for a change.”

Adapting to a Shifting Market

As a team leader with RE/MAX Alliance Group, Florida’s largest RE/MAX franchise, Lamielle has experienced his first major market downturn since entering the industry. The brokerage recently merged with several other offices, creating a network of over 400 agents across 15 locations in Florida.

“You adapt, right? That’s the number one word,” Lamielle says about managing current market conditions. “This is the first downturn I’ve seen since jumping in the industry. We’re in a completely different fundamental market right now.”

The shift from the extreme seller’s market of 2020-2022 to today’s more balanced conditions has required significant adjustments in client conversations. “We have to bring the sellers a little bit more to reality. It’s not 2022 anymore,” Lamielle notes. “From 2019 to 2022, your property jumped over 50%, 55%, 60% even. Now we’re having a little bit of correction. Nothing goes up forever.”

He describes the current dynamic as increasingly buyer-friendly. “I think that balancing changed about six to nine months ago, and now it’s more of a buyer’s market where they have a lot of options. Inventory is rising.”

This has changed buyer behavior. “Buyers are starting to go after properties that have been on the market six to nine months, coming in a little bit lower to try to get a solid deal. You cannot blame them for that,” he explains.

Managing Expectations and Pricing Realities

A key challenge in today’s market is educating sellers about realistic pricing. Lamielle reports having three to five listing appointments per week, with pricing discussions now a regular feature.

“Over the last three months, it seems like half of the sellers now start off saying, ‘Listen, I know this is not the best time to sell,’” he observes. “It’s happening at almost every appointment now that you have to explain where things are at.”

Lamielle is direct when expectations don’t match the market. “I’m very straightforward, and I say this is what I can prove. If it’s within a certain percentage, sure, we can try to bump up the price a little bit to leave room for negotiation. But I have walked away from taking some listings that are just so atrocious.”

He recalls a recent example with a neighbor who wanted $90,000 over what market data supported. “I don’t think we’re going to work well together, because you want $90,000 over what I can prove, and you’re just going to get disappointed in me when it doesn’t sell.”

Cash Buyers and Investor Activity

Sarasota’s market has seen strong cash buyer activity, with 68.5% of townhouse and condo sales being all-cash transactions. Lamielle attributes this to pent-up demand from investors sidelined by high interest rates.

“When interest rates spike and cap rates don’t go along with it, that leaves investors on the sidelines. We can’t make any numbers make sense. So we’re just going to sit on a pile of cash and wait,” he explains. “Now you’re starting to see some of that faucet being turned on from investors coming out, sensing that prices have gone down.”

The demographic also includes retiring baby boomers with accumulated wealth. “Boomers are starting to retire quicker and quicker, and they’re getting older. That market segment tends to have a little more cash than your new buyers coming into the market for the first or second time.”

Insurance Issues Adding Friction

Florida’s insurance market has become a significant factor in real estate transactions. Lamielle cites numerous examples from current deals. “I can give you 15 examples of 15 current deals that I have going on right now,” he says about insurance-related issues.

Common problems include roof age, water heater conditions, and electrical issues. “They’re really starting to get strict on that,” Lamielle notes, referencing his own recent home purchase where insurance required addressing water heater leaks and electrical problems before coverage would be approved.

The challenge extends to older properties that may be in good condition but don’t meet current insurance standards. “Had a listing appointment yesterday where it’s sitting on a 22-year-old roof. There’s no leaks, two contractors said it’s in perfectly fine shape, but we’re going to have issues when we go to sell. A new buyer is not going to be able to get insurance on a 22-year-old shingle roof.”

Hurricanes Shaping Buyer Priorities

While Sarasota avoided direct hits from recent hurricanes Ian and Helene, the close calls have influenced buyer behavior and investor strategy. “Buyers are definitely more concerned with flooding, hurricane windows, impact windows, and how that all correlates into what am I going to be paying in insurance every year,” Lamielle observes.

The storms also created investment opportunities for those with available capital. Lamielle’s group acquired several barrier island properties at land value, but they’re taking a patient approach to development. “Their exact words were, ‘We’re going to let everybody forget about the storms, and when everyone’s coming back for beaches and sunshine, that’s when we’re going to start building again.’”

Market Segmentation and Performance

Not all segments of Sarasota’s market are performing equally. Lamielle identifies two thriving categories: new construction communities with incentives and acreage properties offering more space.

“There’s a lot of new builds coming in where builders are making it very incentivized to buy, with closing costs, slashing prices down, and giving more upgrades,” he explains. “It’s very attractive for newer buyers and people that don’t want to do any renovations.”

The acreage market serves residents seeking more space. “There’s another segment that’s been here for a while and starting to see Sarasota really blossom. They’re like, ‘This is great. I still want to call this home, but I need a little more breathing room.’”

Condominium Market Under Pressure

The condominium sector is experiencing significant stress, which Lamielle describes clearly: “There is no question about it that market just got slaughtered. Upwards of 20, 25% they took a hit in value almost year over year.”

The decline stems from multiple factors, including insurance issues, special assessments, and new building safety requirements. “If your HOA goes up four or $500 a month, that’s a lot for some segments of our market. That’s why you’re seeing people just needing to get out.”

However, Lamielle sees opportunity in the downturn. “From a buying standpoint, you’re buying at a discount right now. If Apple stock just dropped 25% in one year, that’s a great opportunity to purchase. Same thing with the condo market, different asset class.”

Luxury Market Shows Stability

The higher-end market remains relatively strong, with luxury buyers less sensitive to interest rate changes. “The luxury buyers are not necessarily looking at the interest rate charts every morning,” Lamielle notes. “You’ve obviously had some success in your life to be able to do what you want, when you want it.”

He attributes some luxury activity to capital rotation from other asset classes. “The stock market just keeps hitting high after high after high, and you start seeing a rotation of capital, where people are rotating out of a high market to buy into a market that’s not so high right now.”

In contrast, middle-market buyers face significant affordability challenges. “Three years ago, they could have gotten into a $500,000 house for $2,800 a month. Now it’s $4,000 a month. It’s a big chunk of change when you might be on a tighter budget.”

Looking Ahead

Despite current challenges, Lamielle isn’t seeing significant distress in the form of foreclosures or short sales. “I’m not seeing the foreclosure market tick up at a noticeable rate,” he reports, though he acknowledges difficulties for recent buyers. “Every time I go on a listing appointment and see somebody that bought in 2023 that needs to sell now, I know it is going to be tough.’ But we’re able to at least break even, which is good.”

For Lamielle, success in the current environment comes down to preparation and honest communication. “You prep them for the best case and you prep them for worst case, and as long as they’re educated going into the process, whether buying or selling, you’re going to have a successful transaction if you prep your clients properly.”

His approach reflects the broader reality facing real estate professionals in transitional markets: adaptation through education, realistic expectations, and strategic positioning for both challenges and opportunities ahead.