The luxury real estate business operates on a fundamentally different timeline than most professionals realize, according to Jed Weaver, a Realtor with The Keyes Company who has spent two decades in South Florida’s high-end markets.
“The average real estate agent is going to close five deals a year, but those five deals come very seasonally,” Weaver says. This cyclical and unpredictable income, he explains, forces agents in the luxury segment to adopt a long-term approach to client relationships rather than focusing on quick transactions.
Weaver’s entry into real estate was motivated by his own experience as a professional athlete. After three years with the Miami Dolphins and a Super Bowl win with the New England Patriots, he became licensed to help fellow athletes make informed property decisions. “I really wanted in the beginning to help out the players and try to get back in the locker room and be an advisor to those guys,” Weaver says.
His approach was shaped by a lack of quality guidance as a buyer. “Moving around, we didn’t really get good help when it came to the real estate person that we were working with.” That experience led him to prioritize client advocacy over quick sales.
Weaver believes the biggest mistake agents and buyers make in luxury real estate is expecting fast returns. “I think people get the misconception that real estate can be a profitable venture in the short term, and I don’t think anyone should ever look at real estate in the short term,” he says.
He acknowledges that the COVID-era market was an exception, with rapid price increases and quick profits. “So many people during the COVID insanity made a lot of money in the short term, but that was obviously a lifetime anomaly.” Weaver cautions that building a business around such rare events is risky and unsustainable.
Instead, he advises clients to buy properties they can afford and will enjoy living in, regardless of short-term market conditions. “If you can afford it now at a million and you can enjoy it and you’re going to live there, then down the road it’ll definitely be worth more,” he explains. Conversely, he warns against speculative buying: “If you’re trying to prospect and buy it at a million today and in six months think that it’s going to be 1.2, that’s just the wrong mindset to have.”
Weaver measures his own success by the quality and longevity of his client relationships, not by the number of annual transactions. “My mindset is just building those relationships with clients and helping them make the best decision for the long term,” he says. He argues that this approach ultimately delivers better results for both clients and agents.
Over two decades, Weaver has developed a philosophy rooted in patience and perspective. “When a property’s meant to be, it is the one that works out for people,” he says. He describes how deals sometimes fall apart due to issues like insurance or inspections, even when clients are convinced they’ve found the perfect home.
“Even though sometimes at the moment you feel like this is the place for us, and if we’re going to miss it for whatever reason, we won’t find anything better, it always ends up working out better for the clients,” Weaver observes. He says this pattern has repeated throughout his career, allowing him to guide clients through setbacks without putting pressure on them.
Weaver uses this perspective to help clients remain calm when deals collapse. “You might think it’s not going to get any better, but around the corner, something else comes around, and the deal ends up working out, and it ends up being the best place for those clients,” he says.
Weaver began his real estate career just as the market cooled in 2005–2006 and stayed through the 2008 crash. “It was tough starting in the business after the market crash,” he recalls. Despite these challenges, he has remained active for twenty years, which he attributes to his focus on long-term relationships rather than chasing transaction volume.
“I’m still here after 20 years, so it’s definitely been working and I’ll continue to do that,” Weaver says. He contrasts his strategy with agents who prioritize closing as many deals as possible or try to time the market. Those agents, he argues, are more vulnerable during downturns when sales activity drops.
By focusing on building trust and maintaining connections, Weaver has created a client base that returns for multiple transactions and refers new business, regardless of market conditions. He points to “charity events and meet and greets” as key sources for building relationships that may not turn into deals for years but create a steady flow of clients over time.
Weaver notes that the long-term approach in luxury residential real estate mirrors that of institutional investors in commercial real estate. “Commercial properties are a great investment,” he says, emphasizing that income-producing assets have clear valuation metrics based on cash flow and returns. “It’s easy to find what the value is there because you have the income base, the rents, the cash flows, all of that that determines what a value is.”
However, he warns against short-term speculation in commercial real estate as well. He argues that real value in both residential and commercial real estate comes from holding properties over extended periods, not from chasing immediate profits.
For luxury agents, Weaver believes the business model must center on relationship maintenance rather than transaction maximization. Agents who can afford to take this long-term view—both financially and psychologically—are better positioned to withstand market volatility and build sustainable careers.
Whether this relationship-driven model will remain as technology reduces friction and increases information for buyers and sellers remains to be seen. But for now, Weaver maintains that luxury real estate is fundamentally a relationship business, where trust and long-term thinking provide the foundation for lasting success.
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