OneWorld Properties CEO Peggy Olin leaps right over boundaries to success from language and culture to economic downturns.
The deck wasn’t exactly stacked in Peggy Olin’s favor. As a teenager, the future CEO of OneWorld Properties fled Peru to find safety in the United States in the 1980s, during the tumultuous era when the Shining Path, a Communist group soon to be regarded as a terrorist organization, roiled the country. Olin didn’t speak English making high school a challenge; she felt college was never an option.
Still, Olin had the wherewithal to found OneWorld in 2008 during the market crash, specializing in pre-construction developments shaping Miami’s skyline. Since then, she has been a key player in the globalization of Miami, growing her team to more than 50 agents and achieving over $4 billion in sales to primarily international markets, including South America, Europe and Asia.
OneWorld has offices in Miami, Fort Lauderdale and Shanghai, and Olin counts the following as some of her most notable successes: breaking sales records at Paramount Miami Worldcenter, the Crosby, Legacy Hotel & Residences; developing cross-marketing strategies to work effectively with buyers from major U.S. cities and international clientele from more than 60 countries; and thriving in a male-dominated sector. SFBW asked Olin how she accomplished all this, given such a difficult past.
How did OneWorld come to be? What made you want to start your own company?
In 2008, I established OneWorld Properties with a vision to create a unique real estate brokerage that could generate innovative ideas, even during challenging times in the market. As an entrepreneur, I’ve always aspired to have a business where I could express my creativity to the fullest. Our fullservice brokerage firm, headquartered in Florida, provides specialized services for luxury properties, and also offers integrated sales and marketing for residential development condominium projects.
What advice would you give to women in real estate?
My advice to women in the real estate industry is to actively seek out mentorship and networking opportunities. It’s important to connect with other women who have paved the way and learn from their experiences. Always be confident in your abilities and speak up for yourself. Remember,knowledge is power, and with the abundance of information available through technology, it’s more valuable than ever. So, establish a strong foundation of education and never assume you know all the answers. Don’t be afraid to ask questions and always celebrate your wins.
What is the future of the luxury real estate markets in Miami and Fort Lauderdale—and how do they differ?
The luxury real estate markets in Miami and Fort Lauderdale are developing in distinct ways. In the past, Fort Lauderdale’s high-end residential condo market was primarily focused on beachfront and waterway properties; however, now the demand for luxury residences has expanded into the downtown cores of both Miami and Fort Lauderdale, which have grown exponentially in recent years. We believe there is an opportunity for the flexible ownership condominium product, which has been a significant selling point in Miami but has not yet been fully realized in Fort Lauderdale.
Tell me the most important things you did technologically at OneWorld? Can you elaborate on the importance of technology in the modern real estate industry, how it’s changing how properties are bought and sold and what innovations you see on the horizon?
The real estate industry has rapidly evolved with the integration of various technologies, from the use of social media to show listings and video conferencing platforms like Zoom to complete sales transactions with buyers around the world. Most recently, OneWorld Properties partnered with a social gifting platform called CHEQ. The platform is the next wave of technology integration their clients and allowing them to send food, drinks and gifts in real time, creating a seamless and unforgettable experience that allows relationships to be built further between our brokerage and clientele.
Can you share sales numbers for Paramount Miami Worldcenter, the Crosby and Legacy Hotel & Residences?
OneWorld Properties has a proven track record of success, having sold over 4,000 units with a total sales value of $4 billion or more in the residential market. Our most recent project, Paramount Miami Worldcenter, achieved a total sellout of $700 million. Other successful projects include Legacy Hotel & Residences, with $155 million in sales, 501 First with $220 million, and the Crosby with $240 million, which was our fastest-selling project, selling out in just six months. Currently, we are selling 600 Miami Worldcenter in downtown Miami, with a sellout value of $350 million, and 2200 Brickell with a sellout value of $175 million.
What is your presence in China? What made you expand your business there?
OneWorld Properties is among the few national firms with a permanent presence in China, operating offices in Shanghai, Beijing and Shenzhen. We established our presence in response to the growing demand from Chinese buyers for U.S. real estate, particularly in Miami. I personally started traveling to China in 2014 and recognized the appetite for Chinese buyers to purchase and sell international properties, including those in Florida, New York City, California and Europe. In 2015, we opened our China office to better serve this market. With the aid of technology, we had some of our best-selling years in
Asia during the pandemic. ♦