TRD’s ranking of high-flying agents finds them begging sellers to lower their expectations while listings priced over $40 million proliferate
Multi-course dinners, brandy tastings and even the odd theme party are among the fêtes high-end brokers throw in the hopes of drawing the right clientele.
And while some ostentatious events were always part of the game, there’s an increasing urgency to the sales pitch these days. The top luxury brokers in Los Angeles said the market is moving to extremes, with even more overpriced luxury homes on the market than ever. High-end buyers are looking for value and want properties with more land and less house, while sellers are largely unrealistic in their pricing expectations, brokers said.
To get a better sense of what’s happening in the luxe market, TRDranked the industry’s highest-performing luxury market players, analyzing single-family home sales of $4 million and higher to identify the 20 top-producing agents from March 1, 2017, through Feb. 28, 2018. Agents were credited with both listing and buying sides, including deals where they were the co-broker; an agent who represented both parties received full credit for each side.
Topping the ranking was Westside Estate Agency’s Kurt Rappaport, with over $627 million in sales…