At Side convention, optimism means laughter in down market

During his keynote address at Side’s annual conference, the white-label brokerage’s co-founder Guy Gal poked fun at the current down market for residential real estate.

Dressed in a hoodie and Nike Kobe A.D. sneakers, Gal remembered agents fantasizing about putting themselves to a grueling test during the bonanza market of 2021. 

“I remember many of you saying ‘I can’t wait until we have a market like this one that is contracting, that is more challenging.’ Here it is. Thanks a lot!” Gal joked to laughs and cheers from agents in the crowd.

Side’s convention, called Side x Side, or “Side by Side,” took place in a hall colored by fuschia, orange and purple lamps.  About 1,200 people registered for the event, which ran Feb. 8-9 at the Long Beach Convention Center complex. More than 300 registered to watch the brokerage platform’s event online, a Side representative said.

Many of the event’s speakers wrapped talk on the down market with jokes. A light tone could be seen in the sartorial choices of Hilary Saunders, a Side co-founder. She took the conference’s stage with her hair  dyed  blue, purple and pink. 

One of the themes of the annual conference was finding opportunity in a shrinking market. To rally the crowd, Gal interviewed former basketball star Magic Johnson on perseverance. 

Johnson spoke to the crowd about how many bankers didn’t take him seriously when he pitched them on lending to his initiative to open high-end cinemas in minority neighborhoods.

“They all wanted my picture and my autograph, but they did not want to give me money. They thought I was a dumb jock. But the last bank said yes. When they said yes, I knew I had to be successful, not only for myself, but for someone like you coming behind me,” he said.

 He also kept with the day’s theme of keeping it light, at least when he talked about his NBA career. “I still hate Larry Byrd,” he joked about his  rival from the Boston Celtics.

A website for a group named AAE Speakers, which handles speaking engagements for sports stars, said booking Johnson could cost $200,000. Side declined to confirm how much it paid Johnson.

A catered lunch featured street foods, with a menu that included vegan tacos, pizza margherita, Chinese noodles and hot dogs. The conference’s fun also included a party on the night of Feb. 8 at the Long Beach Aquarium.  

There was a serious tone under the event’s lightheartedness. Rick Sharga, an executive vice president of real estate data company Attom gave an economic forecast, while Amalfi Estates executives talked about prospecting for leads.