Ongoing success with luxury homes in Banderas Bay

Any conversation about luxury homes in Banderas Bay is bound to include Sherri Narro or her companies, Sherri Narro & Associates and Puerto Vallarta Dream Homes. Prior to arriving in our destination in 1996, she lived in the United States with her husband, David Lyons, where both enjoyed a very successful professional life as lawyers. When time came to retire, they visited Puerto Vallarta, loved it, and decided to relocate permanently.

“I had no intention to keep working, but while David was writing, I didn’t have much to do,” she recalls. “We were looking for a place to live, so he suggested I look into real estate. This started the ball rolling.”

But her interest was far more specific from the get-go. Sherri decided to focus her attention on luxury homes. “I truly enjoy it. When we practiced law in the US, most of our clients were multiple property owners, which allowed me to experience some truly spectacular properties around the world. This is why I chose to focus on this market.” Nowadays, her company also represents luxury condominiums, offering a variety of excellent choices for those looking for an oceanfront or beachfront home, spectacular views, or any other feature associated with luxury home living.

When we asked about the challenges of starting her company, she told us she felt like fish in the water from day one. She had practiced real estate law in several places in the US, so she was looking for a related, yet different activity. Being licensed in the state of Louisiana has proved to be an advantage, given the fact that the state’s legal system is based on Civil Law (also known as Napoleonic Code, a system that inspired Mexico’s Civil Code). “As far as understanding titling and the underlying theme of land ownership, understanding the different systems provides an additional advantage. Not everybody can.”

While just about anyone can acquire the necessary skills to conduct a real estate transaction, it takes a certain quality to navigate gracefully through a luxury home purchase. Many real estate agents might feel inclined to consider this particular market due to the possibility of higher sale commissions, but not everybody can accomplish this successfully. “You can’t learn it in a book,” she explains. “You can’t learn how to deal with a person who is in that rare area that can drop one, two, three million dollars or more in cash for a property. I’ve been doing this all my professional life.”

The similarity between Sherri’s life experiences and those of her clients has been an added plus. So, while a slight decrease in the average age of most luxury property clients, their ability to make the purchase has more to do with having had enough time to accumulate the required wealth to do, in cash. “Our clients haven’t changed all that much. Usually they are company owners who have just sold their company, or can distance themselves from it for long periods of time, and would now like to enjoy a luxury home near the beach. After 20 years, this client continues to be interested in Puerto Vallarta. Today’s technology now allows for remote dialogue and negotiation, but the basic parameters remain the same.”

“Despite changes in the economic climate around the world in the past few years, the interest in luxury property ownership has not diminished, and in fact, is now on the upswing.”

While many local real estate offices have invested considerably in suitable office space, Sherri has chosen not to have one, given the fact that most of her clients are referrals from previous ones. So, instead of having an office space, she has chosen to invest in strategic advertising in the region’s most prestigious publications, lifestyle magazines, and international websites and real estate networks, always keeping her aim on the luxury market.

We asked what happened with her retirement and she laughed. “I work harder today than when I was a lawyer. But I truly enjoy the work and will continue at it as long as the luxury market remains interested in the destination.” And when we asked about her favorite activities to unwind, she did not offer many details. But somehow, the topic of Netflix and binging quickly came up in conversation.

More personalities of the Puerto Vallarta’s real estate industry.