In times of uncertainty, cold, hard numbers are reassuringly straightforward. And as residential pros predict an imminent market correction and attorneys in our ranking of top real estate law firms say commercial investors are exercising caution in anticipation of a slowdown, complex algorithms and data-fueled A.I. software are looking like the life preservers that could keep us afloat.
To get industry folks and consumers to embrace emerging technology, companies are employing a new iteration of the chief economist role as the ultimate salesman. There is perhaps no more visible example of an effective data ambassador than Zillow’s Stan Humphries, who invented the home valuation tool that’s giving brokers headaches from Malibu to Montecito Heights and beyond: the Zestimate. Check out our story here.
With the proliferation of so many data tools, though, residential brokers must offer far more than what’s available to buyers and sellers online. Our look at how prominent luxury residential brokers manage their teams of agents, tech experts and marketers reveals that putting together an effective full-service workforce takes time, chemistry and plenty of group texts.
In the course of touring the exclusive enclave of Hidden Hills, The Real Deal Los Angeles managing editor Alexei Barrionuevo learned that one thing you can’t do in the land of Kimye is get consistent cell service, which is just one reason only a select few brokers have managed to crack that market. Read his take on the ’hood and its increasing allure for celebs — and correspondingly increasing prices — right here.
Over in investment sales, powerhouse teams at Eastdil Secured have been working in lockstep for years to dominate the field, but our ranking of top office tower deals reveals that Newmark Knight Frank’s teams are edging in on their territory, steadily increasing the number of pricey sales they’ve handled since TRD’s 2017 ranking.
Meanwhile, office leasing activity is buzzing along steadily, and to find out who will be leading the way on the deals of tomorrow, TRD reporter Natalie Hoberman spoke to industry insiders to profile the rising stars in the field.
Other highlights in this issue include reporter Dennis Lynch’s look at the YIMBY movement’s efforts to drive development and a candid interview with Chris Rising of Rising Realty, who isn’t afraid to imagine that offices may not exist one day soon.
Enjoy the issue!