L.A. Realtors to the Rescue: “I’m a Public Servant Now”

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Carl Gambino from the Gambino Group has been constantly talking on the phone, from morning till night,” he shared.

Throughout Los Angeles, leading real estate agents – several of whom were forced to evacuate themselves – have been tirelessly assisting clients, friends, and even strangers since the fires started causing destruction in Pacific Palisades, Altadena, and Malibu. “I’ve become a public servant in this situation,” Juliette Hohnen from Douglas Elliman explains. “I need to help anyone I can.”

The original text has been rewritten in a way that maintains the same meaning but uses different words and sentence structures. The focus of the real estate agents helping people has been emphasized, and the idea of public service has been made clearer.)

Approaching a staggering $250 billion in potential economic damage and with approximately 75% of properties in Pacific Palisades left in ruins, the task at hand can seem daunting. Nowadays, empty listings on Zillow lure buyers with enchanting images of interiors that have since turned to ashes. Real estate agents are more familiar with these destroyed homes than their former owners. “The Alphabet Streets have been completely leveled,” Hohnen remarks. “I had roughly $150 million in potential sales, and I’d estimate around $30 or $40 million of that was reduced to ashes.

As reported by Aaron Kirman of AKG | Christie’s International Real Estate, 70 of his clients have unfortunately lost their homes. This significant impact has prompted the usually competitive Los Angeles real estate community to unite swiftly. “We reached out to nearly every broker in L.A., and compiled a list of all available furnished rentals and properties,” Gambino explains.

Home viewings are now bustling events, as people affected by recent incidents are scrambling to find and buy properties that are currently listed for sale. Many real estate agents, such as Tomer Fridman from The Fridman Group, have been arranging showings even in the late hours of the night to accommodate their clients. For instance, a showing in Santa Monica on Thursday night attracted no less than 25 families who lost their homes in the fire. By the following morning, the homeowner was already receiving multiple offers.

Brokers are devising innovative methods to expand their stock. As Fridman explains, “We’re utilizing all our resources and every client who owns a secondary or tertiary property, trying to persuade them to make these properties available — whether it’s for leasing, selling, or any other purpose.

Hohnen is also targeting clients with multiple properties, proposing, “Why not stay at your home in Palm Springs, or perhaps Palm Beach? Or why not spend three months in Europe instead? I can handle the rental for you.

Numerous clients are expressing interest, willing to provide assistance. Fridman remarks, “We received a call from a client – she owns a large house valued at around $30 million that’s currently listed for sale. She suggested, ‘If there are families who have been displaced, feel free to temporarily accommodate them in the property and we can postpone showings.’

Real estate agents are disappointed to find that some individuals are unlawfully increasing rent prices, particularly in areas perceived as safer. For instance, a house in Beverly Hills, initially priced at $40,000 per month, suddenly demanded $60,000 just four days later, according to one broker. Chad Rogers, a Malibu native and real estate agent with Hilton & Hyland, expresses concern that vulnerable residents might be exploited during this fragile period, saying “My main concern is that people might seek to capitalize on our residents at such a weakened state.

Based on reports from real estate agents, a significant number of displaced individuals are seeking homes in Brentwood, Bel-Air, Beverly Hills, western Malibu, and Manhattan Beach. However, some are considering leaving Los Angeles entirely. As Gambino notes, there has been an increase in clients who have either been directly impacted by the fires or live near them, and they are planning to move to New York City and Miami.

As a gamer speaking from personal experience, if you decide to rebuild after the devastating fires, keep in mind that it’s likely to be a multi-year journey. There’s been quite a bit of chatter about insurance claims getting honored, particularly in coastal areas where homes are often underinsured. Kirman, someone I respect in this field, says our insurance system was flawed even before these fires. He emphasizes that it’s crucial for Los Angeles to have proper coverage because it deserves nothing less.

There are strategies for rebuilding with improved resilience. Sandro Dazzan from The Agency, who bravely stayed behind to battle the fires in his hometown of Malibu and safeguard both his own home and others, strongly advises homeowners to take extra precautions when it comes to securing their properties. According to him, homes that survived the fires were those with a safe perimeter, meaning there was no landscaping directly against the house or exposed eaves. Additionally, he suggests using less flammable materials such as tile roofs and stucco instead of wood shingles or wooden siding for better protection.

As a safety-conscious enthusiast, I can’t help but appreciate the convenience of gel systems that blanket your entire home with fire retardant at the touch of a button. Beyond that, having fire suppression systems, pool pumps, ample fire hoses, and knowing how to connect them all effectively is equally important, according to my understanding.

Brokers understand that their tasks are merely the first steps. “Our role is to assist our clients, our role is to aid in the restoration of communities,” Kirman explains. “So, we’re all making every effort to be helpful.

In the January 17 edition of The Hollywood Reporter magazine, this story was published. To keep up with future issues, consider subscribing by clicking here.

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2025-01-19 21:25