In Key West, a single transient rental license can run up to a million dollars, and the city no longer issues new ones. Krystal Sheehan, a Key West Realtor with eXp who started out managing $20,000-a-week vacation rentals, explains why that one license changes how a property is valued, moving it from comps to an income approach. She also explains why more than half of Keys transactions are probably cash.

Agents will get Krystal's rule of thumb for pricing licensed rentals (gross rental income of roughly 8–10% of price). They'll also hear how the 20-year sunset clause on Truman Annex Special Transient licenses can blindside an investor who buys with only five years left. On the business side, Krystal explains "appreciation marketing," the referral approach behind her sphere-based business, including the 14 Mother's Day cards that brought her two buyers.

https://www.kskeywest.com/

Epic Agents Podcast:
https://epicagentspodcast.com/

About the host:

Jeff Hamm is a real estate broker with Ivester Jackson | Christie’s International Real Estate, serving Lake Norman & Charlotte, North Carolina and Banner Elk, North Carolina. He specializes in luxury, waterfront, mountain, and investment property, with a focus on buyer representation. He is also the founder and host of The Best of LKN and Banner Elk Living.

Learn more and contact Jeff:
https://lknreal.com/
https://bannerelkliving.com/

Jeff's Marketing Agency:
https://aidawerks.com/

Jeff Hamm is a North Carolina real estate broker with Ivester Jackson | Christie’s International Real Estate, serving two of the state’s most sought-after markets: Lake Norman and Banner Elk and the greater High Country. He specializes in luxury and second-home property, from Lake Norman’s waterfront, golf, and lakefront communities to High Country communities including The Lodges at Eagles Nest, Elk River Club, Farm at Banner Elk, Diamond Creek, and Echota. He also works with buyers of condominiums, homes in active adult and family-friendly neighborhoods, and short-term rental and investment properties. His focus is buyer representation, where his relationships with each region’s top listing brokers, builders, and designers give his clients a measurable edge.

Jeff is also the founder and host of two local media platforms, The Best of LKN (since 2020) and Banner Elk Living. Each includes a podcast and newsletter that spotlight the area’s most admired small businesses, nonprofits, and entrepreneurs. He publishes the annual Lake Norman Visitors Guide and Banner Elk Guide, produces regular market reports for both regions, and hosts The Best of Lake Norman Business Network and the Banner Elk Business Network.