Namaste and welcome, dear readers. You are powerful. In fact, you are power. You are successful. In fact, you are success. You are tapped into the well of abundance…And you will sell that house!
Now, take a deep inhale, and exhale any limiting beliefs or excuses. Raise your arms to the sky in gratitude and then reach down for this issue, turning to page 26 for an in-depth, behind-the-scenes look at the shockingly lucrative real estate coaching industry and — exhale — some of its pitfalls. Now read, read, read, read, dear readers, read!
But before you spend all your sacred bucks on inspiration, you can find it for free on in The Closing interview with power realtor Jade Mills of Coldwell Banker. Mills grew up in the California countryside as the daughter of a dairy farmer. Now, as L.A.’s highest-ranking female luxury broker, she is marketing the $350 million Chartwell Estate to the world’s billionaires.
And you may want to return to your breath as we delve into the high drama surrounding recent consolidations in L.A.’s residential brokerage industry.
Meanwhile, e-commerce companies have little breathing room as vacancy in L.A.’s industrial market remains historically tight. The San Fernando Valley, on the other hand, is breathing in new life as more office investment shifts the secondary market toward primary status. However, when it comes to office vacancy, brokerages are having trouble deciding on a unified mantra. Conflicting measurement methods are making it harder to take the temperature of L.A.’s overall office market as plentiful sparkly new supply begins to deliver. But don’t get your chi in a twist — look to the Cornfield, where all sectors of the industry are gluing together vision boards for the up-and-coming area near Chinatown.
Brokers in the hotel sector are channeling positive energy after a year of growth in tourism, and are optimistic that there is enough demand to meet the growing supply of keys. Investors from Canada, the third largest foreign spender in L.A., according to TRD’s ranking, seem to agree, as they’ve poured money into L.A. hotels and a variety of other sectors. Lest you need more positive vibes, there’s this: While Chinese investment in L.A. has decreased, it still made TRD’s list of top international investors. Government-backed Chinese firms are still spending despite the restrictions on so-called “gray rhinos,” Eastdil Secured’s Stephen Silk explained at TRD’s recent L.A. Showcase. See what other insights you missed if you didn’t make it to the event here.
Don’t let that FOMO (fear of missing out) percolate for too long. Keep those chakras clear and keep selling!
Om shanti and enjoy the issue.