Accidental Agent
Aaron Kirman is the chief executive of the Aaron Kirman Group and owner of Christie’s International Real Estate Beverly Hills. With more than $16 billion in luxury home sales, Kirman represents some of the finest estates across the globe and is consistently ranked in the top five luxury real estate agents in the U.S. by the Wall Street Journal. Prior to opening Christie’s International Real Estate in Beverly Hills, Kirman was at brokerage firm Compass.
How did you first get into real estate?
I got into real estate by accident. Between the ages of 15 and 18 I worked as a waiter, and somehow ended up owing the house money because I wasn’t great with numbers. It was costing me money to work. I realized at that time I had to be my own boss. I knew what I was good at, and more importantly, I knew what I was not good at. So I got into selling houses.
Tell me about your choice to branch off on your own and open Christie’s International Real Estate’s Beverly Hills office.
I was actually part of it years and years ago with Hilton & Hyland. It was everything luxury, and at the time it felt like it was very grand in its own right. So fast-forward to 2022; we had gotten to a place with a very large team that we wanted to take the next step and move on to greener pastures. And we had no question on our end what that was when it came to an international presence, alignment with our existing clientele, and of course the way Christie’s defines luxury on a global scale.
What are some of the benefits and challenges that first came with being on your own?
The challenges are really the same from brokerage to brokerage, financial risk, competition, recruiting, etc … Honestly, it has been difficult, especially with the market that we walked into. However, the team I have in place to help the growth and management, the brand and what it stands for, the growth and reception we are seeing, is incredible. It allowed us to penetrate the market in ways that have otherwise been challenging, locally here in Los Angeles and even internationally.
What excites you most about a home?
The unique aspect of any given home is something I love. Every house that we have taken on has been unique in some way, in its own way. It’s an ever-evolving landscape with each house we have taken on, and that keeps us up to date with the latest trends, things that aren’t working, things that are.
Within Los Angeles, which neighborhoods are you most passionate about, and why?
Santa Monica captures the essence of California’s coastal living with its stunning beaches and lively downtown. It’s a place where I’ve called home, and it’s overdelivered on everything I was expecting from it. The growth the city has seen offers just about any type of residential offering you can imagine.
And then there’s Bel Air, it’s exclusive, it’s a haven, it’s sophisticated, it’s breathtaking. Bel Air has had the unique ability to show the rest of the world year after year what the benchmark for luxury is. It offers the latest and greatest. It’s always changing, and never for the worse.
Tell me about the size of your team. How has it grown since its inception?
Well, right now I don’t have a team. Ever since we started the brokerage, every agent has been on their own. We started out with maybe 10 of us when we were at John Aaroe (Group), and that blossomed into 75 or so and continued to grow. Right now, the brokerage is all independent agents, which is around 180 agents and juniors.
What’s it like to run a brokerage in addition to being an agent?
Running a brokerage while also working as an agent has been both rewarding and demanding. On one hand, it offers a unique opportunity to have a direct impact on the direction and success of the brokerage, while also maintaining a hands-on role in serving clients and closing deals. As an agent-broker, you have the autonomy to set the vision for the brokerage. However, running a brokerage alongside an active agent role also comes with its share of challenges. Overall, it’s been something extremely rewarding.
How do you balance the two?
The right management team. Balancing the responsibilities of managing the brokerage with the demands of serving clients and closing transactions requires strong time management and organizational skills, something I hope I can say I have. Additionally, wearing multiple hats can be mentally and emotionally taxing, so I have a great team in place to help with a lot of those things that come up. It’s vital to have that structure and management team to still practice as an agent while running the brokerage.
How did 2023 compare to other years for you?
You really can’t compare 2023 to others. It was a year unlike any other in recent memory. The market dynamics were unprecedented, marked by a combination of factors that presented both opportunities and obstacles for agents and their clients. Overall, 2023 will be remembered as a year of resilience, adaptability and perseverance for Los Angeles real estate agents. While the market presented its fair share of challenges, it also underscored the importance of expertise, diligence, and a client-centric approach in achieving success in even the most demanding of environments.
What are your expectations for 2024?
I am optimistic and hopeful about the prospects for growth, expansion and rebounding in 2024. Despite the challenges and uncertainties of recent times, I see several factors that point towards a positive trajectory for the real estate market in the coming year. My expectations for 2024 are high when it comes to the Los Angeles real estate market. While challenges may still exist, I am confident that the resilience, adaptability and enduring appeal of the Los Angeles market will pave the way for a prosperous and thriving year ahead.
From Mailroom to Riches
Josh Altman, an agent at Douglas Elliman Real Estate, is the cofounder of The Altman Brothers. Altman, who works alongside his brother, Matt Altman, and his wife, Heather Altman, is also a television personality on the show “Million Dollar Listing.” He’s sold over $7.5 billion in Los Angeles properties.
How did you first get into real estate?
I was working in the mailroom at an entertainment talent company. I would take the top executives out for lunch or buy them coffee so I could pick their brains on how they became successful and what they were investing in. The common theme was real estate. So, my brother and I decided to scrape together our savings accounts and came up with $10,000 to buy a condo and fix it up with zero down; this was during the time they were doing 100% financing. We put it on the market three months later and made a $200,000 profit. I quit my job the next day and got into real estate. Not that it’s that easy now, but it was a great intro to the business.
What’s it like to work in a family enterprise?
My brother and my wife are my partners, and I wouldn’t have it any other way. Family has your back at all times. You trust them implicitly and we can fight it out like we did when we were kids, but then we hug it out and move on to closing out another deal. Being able to build an empire together and enjoy the success together is incredibly rewarding.
Within Los Angeles, which neighborhoods are you most passionate about, and why?
Los Angeles is a special city and has so much to offer in every neighborhood and community. I personally think Beverly Hills is the best and safest investment for many reasons – it’s been the most internationally recognized ZIP code in the entire world for decades, you are moments from the best restaurants and shopping and art galleries in California, incredible police and fire department, top-rated public and private schools, and (as a) bonus there is no ULA tax. I also think Bel Air and Brentwood are incredible neighborhoods with great history and trophy properties. Encino is also another great Los Angeles neighborhood; the significant properties being built and sold there are impressive, and now the area is home to some of Los Angeles’ top restaurants, fitness gyms and stores.
What excites you most about a home?
I love architecture and design, I love view properties, I love seeing the newest trends with amenities and finishes.
How do you balance being an agent with also being a television personality?
It’s one and the same, expect I’m nicer in real life. My show is about me being an agent. It’s simple. I love what I do, and I get to do it on TV. Nothing better than that other than working with my wife and brother.
How big is your team?
We have three locations: Los Angeles, Orange County and San Diego. We have a dedicated staff of 10 and about 30 agents. We also just launched in Scottsdale, Arizona.
How did 2023 compare to other years for you?
2023 was another banner year for us, but it wasn’t easy. ULA added challenges as well as rising interest rates, but buyers need to buy, and sellers need to sell.
What are your expectations for 2024?
Q1 of 2024 has been busy. The Los Angeles market is still very healthy. There is more confidence in the market than there was last year, interest rates are slowly reducing and sellers and buyers have watched the market and see that real estate is still the best investment.
A Passion for the Westside
Tami Pardee is the founder and chief executive of Pardee Properties, a Venice-based brokerage that she founded in 2004. Since the firm’s launch Pardee has sold more than $6 billion worth of residential and commercial real estate and now operates three offices across California.
How did you first get into real estate?
I initially went into the industry because I flipped houses, and when I hired agents (to sell them) I felt it was lacking human connection and there was so much more of a service to be offered. I got my master’s degree in business and learned what a huge financial and emotional decision buying and selling a home is for people. I wanted to ensure they were fully supported, making decisions that would help them make money and ultimately enjoy their homes.
Within Los Angeles, which neighborhoods are you most passionate about and why?
All of the Westside, really. Up and down the coast – from Malibu to Palos Verdes. We really love Mar Vista, Santa Monica and Culver City. We have our office right on Abbot Kinney in Venice, and it’s always abuzz with people out and about. The Westside is so convenient, with incredible restaurants and shops, community events happening all the time, and, of course, the beach is right there.
What’s it like to run a brokerage in addition to being an agent? How do you balance the two?
It’s busy and fulfilling. I have an amazing team that I trust. For example, I can hand off paperwork to someone on my team who is extremely diligent and great at contracts. That frees me up to do what I’m best at. Our VP of operations has been with me for over 15 years now, and she is a crucial part of the behind-the-scenes processes, too. She keeps everything running when I am at appointments or traveling.
Since its inception, how has Pardee Properties grown?
The quality of our work has been really important to me throughout this journey. I started out doing $30 million a year (in sales); (I’m now) up to almost $1 billion a year. We started out in my home office and (now) we have two offices – in Venice and Culver City, with a division in the desert for the Palm Springs/Palm Desert market. Our company’s growth has been super organic, with a deliberate and steady pace. Our focus isn’t on growth for growth’s sake. We really lean into connection. I think a home is like a living, breathing thing, and buying or selling a home is one of the biggest decisions people may ever make in their lives. It’s also such an emotional decision, so we really focus on each individual home and each individual person to get the best fit – we’re really a home matchmaker.
Outside of real estate, you are heavily involved with philanthropy. Tell me about the organizations you are a part of.
Initially, we donated a portion of the proceeds from every sale to a charity of the client’s choice, but we wanted to really target our efforts to the causes most important to us and our local community. That’s why we established the Life Change Warriors Foundation – a 501(c)(3) nonprofit. Now, a portion of our proceeds goes directly to the foundation. Life Change Warriors partners with local organizations, such as Harvest Home and Venice Arts, to help change lives through self-discovery, thoughtful planning and active support. We have workshops taught by experienced life coaches that mentor, support and positively change the mindset of the participants. The outcomes of this program are real and tangible. We also sponsor many local schools. Those funds go towards extracurriculars and field trips, which is so rewarding to be involved in.
Selling as a Couple
Husband-and-wife team Rayni and Branden Williams are the cofounders and leaders of The Beverly Hills Estates. Before branching off and starting the company in 2020, the two operated as top-performing agents at Hilton & Hyland, and before that at Nourmand &Associates, where they first met. With nearly $16 billion in career sales combined, the duo specializes in architecturally significant and historic properties in Malibu, Trousdale, Beverly Hills, Los Feliz and beyond. Outside of brokerage, the Williams have their own design and development firm, Disco Volante, as well as a members-only social club, which is heavily embedded in their brokerage.
Tell me about the decision to break off and start your own firm. What are some of the benefits and challenges that come with being on your own?
Rayni: The benefit for us is really that we are able to have the creativity and flexibility to do things outside of the box. We found that the brokerage model that we were confined to was just that – it was very confining. We couldn’t do deals and curate development and artistic avenues without having to take it to the top. And so, for us, we just have this enormous amount of flexibility to make things fun. And then what’s challenging is that we have to deal with all the little minutia of the deals and the agents and all the less glamorous things. But I will say we have the most incredible general manager. His name is Matthew Clayman, and he’s just one of the most remarkable people I’ve ever met in my life. He takes away a lot of the stress of the unfun things.
What’s it like to work in real estate as a husband-and-wife duo? Can you tell me about some of your individual strengths and how they enable you to work well together?
R: For Branden and I, I think the fun part of it is that we get to be together, which we love to do. We also love to collaborate and sort of riff off each other. We both have a lot of the same ideals on the big things, but then we both bring different smaller-level things to the table. I think that’s also been what’s made us successful.
How do you balance being successful brokers with running a brokerage?
Branden: You’ve got to lead by example, that’s what we do. Really, what we have done at our firm is made it very collaborative. For me, none of the (other) brokerages really ever empowered their agents. There was always a hierarchy and egos, and I was so tired of working in that environment and really wanted it to be fun. If you come into our clubhouse, we kind of took Soho House Bungalow’s vibe and made it very fun to go to the office. We share all our knowledge that we’ve been given over the last two decades from a lot of successes and failures. We love to share it and help all our agents to empower and inspire them.
Can you tell me about the size of your team?
R: Our brokerage has grown astronomically; we have more than 100 agents. We started with six. We made a pact that we weren’t going to try to take any of the agents from our previous brokerage; we had immense respect for our previous bosses, and we didn’t want to leave and try to take a bunch of their agents. We left very quietly and respectfully, and we left on great terms, so that feels very good. And we run our business very karmically and we run our lives very karmically, so we try to do the right thing and believe that the right thing will follow. And so organically, we would take on what felt right. We don’t take on just anybody, and everybody that’s there, we have an existing relationship with, or they were referred to us or we did a deal with them. We have a lot of friends, a lot of personal intertwined relationships in our firm.
What excites you most about a home?
R: The soul. You feel it right away like as soon as you walk in. I am very sensitive to, ‘do I connect with this space, does it feel good, and if it doesn’t feel good, is there something I can do to make it feel better,’ and if not, I just want to get out of there. I am very definitive about what I like and what I don’t like, and it’s not always aesthetics. It’s a feeling.
Tell me about your social club. How does it influence your real estate?
B: For me, it’s always been about style. I love fashion. I went to school for fashion originally, and Rayni and I met through fashion because I really liked her outfit and how she put it all together, and we started talking. That’s what brought us together. I think that’s kind of what makes us different and unique from the rest is we truly care about how people live and fashion and design and we set up our office very fashionably. All the offices are cabanas, they’re not like a regular office. Booths all around. We have our own clubhouse manager. We serve shakes, coffees, pastries, acai bowls, yogurt and granola, so that you never have to go to Starbucks and run out of the office. It’s all there. It’s all included; we have the best music, we have the best candles, incense smells, and it looks super cool. I think just stepping in the door you get reinspired and charged up and you just want to hang out and talk real estate. Unlike most offices, where people just go to their little cubicles and have their little section and kind of stay away from each other and everybody’s the competition, we’ve created a much different atmosphere where everybody works together and creates more deals together.
How has Measure ULA impacted the scale of the Los Angeles residential market?
R: I would say ULA has had a very negative impact on everything from actual transactions to the morale. I think it’s a very poorly written measure. I think it absolutely makes no sense. There are no parameters to it. The way it was pushed through in a very deceiving manner, I think, is really sad for our city and kind of digs out the bigger picture of our political situation. I do believe that something is going to give on that, whether it gets voted off next time because people now understand what it is, but I think it’s really dangerous and careless to tax the people who are the most sort of impactful people in the city.
Childhood Interest Is Now a Career
While other agents stick to Los Angeles’ lucrative Westside market, Tracy Do, a realtor at Coldwell Banker Realty, sees opportunity in a different geographic location, specializing in the sale of East Los Angeles homes. Last year she sold more than $163 million, mainly in the neighborhoods of Silver Lake, Pasadena, Glassell Park, Echo Park, Loz Feliz, Eagle Rock and Highland Park.
How did you first get into real estate?
Real estate has been an interest of mine since childhood, and in 2002 I became licensed. From a recent home purchase, I became friendly with my realtor, who graciously introduced me to his manager at a Los Feliz brokerage, which is where I got my start.
You specialize in the sales of East Los Angeles homes. What’s attractive to you about Eastside neighborhoods?
The variety of architecture on the Eastside is remarkable, with midcentury modern, Spanish and Craftsman, among others, and diverse topography that includes the Silver Lake Reservoir, Los Angeles River and Griffith Park. Somehow it all hangs together to form distinct but very connected communities, rich with history and a creative spirit that I relate to.
How does the Eastside compare to the Westside, both in terms of price points and clientele?
Los Angeles’ Westside remains more expensive on average, but some Eastside neighborhoods are catching up as they become increasingly popular. I’m not sure there’s an obvious “Eastside client” versus “Westside client,” but I do see people making choices based on an important question: do you prefer hiking or surfing?
Tell me about the size of your team.
We have a team of 12 sales agents, four full-time marketing associates and two in transaction management and administration. That’s 19 of us in total. We’ve all been together for a long time, so we’re friends as much as colleagues and it really fuels our success.
What excites you most about a home?
The fact that it’s so many things. Not just a roof over our head, but an expression of who we are.
What was the most challenging part of 2023?
Interest rates made last year difficult, but the biggest challenge came when labor unions went on strike. Film and TV are a huge engine for Los Angeles’ economy, so when production went dark for all those months, we definitely felt it in the real estate market.
And the best part of 2023?
The slower pace. Pandemic-era real estate was not sustainable; the market became extremely frenetic, which left a lot of people feeling discouraged. A healthy real estate market finds equilibrium between buyers and sellers, supply and demand.
What’s your favorite part of being an agent?
Without a doubt it’s the people I work with, my team, our colleagues, and the wonderful clients we serve. It is my privilege and truly rewarding to help someone during this important time in their lives, selling or purchasing a home, which is foundational to their personal and financial well-being.
Like Mother, Like Son
Tomer Fridman, an agent at Compass, works alongside his mother, Isidora Fridman. Together they make up The Fridman Group. With more than $3 billion in career sales, Fridman specializes in residential luxury estate properties and large-scale projects throughout Los Angeles, Europe and the Middle East. In addition to being an agent, Fridman is also the cofounder of Israel Sotheby’s International Realty.
How did you first get into real estate?
My love and intrigue of real estate began when I was a young child around 8. It is that innate fascination that continues to drive my passion for the industry. Following law school, I decided to join my mother, Isidora Fridman, who had been in the business for 15 years or so at that point. I joined her as her assistant, and through our career I worked my way up to spearheading the operations of our company.
Within Los Angeles, which neighborhoods are you most passionate about, and why?
Both my early life and career began in the Calabasas and Hidden Hills area. I am still extremely passionate about those two neighborhoods because of the lifestyle, the family-oriented nature and the slower change of pace from the city. In terms of architecture and history, I love the platinum triangle of Bel Air, Holmby Hills and Beverly Hills. There are so many important properties in those three areas and each is so different in terms of what you can find. From mid-century to Hollywood Regency, the diversity in styles with the areas makes those three neighborhoods historically iconic.
Tell me about being the cofounder of Israel Sotheby’s International Realty. How do you balance working in both Los Angeles and Israel?
Isidora, my business partner, leads the operations for Israel; however, I still maintain a pivotal role in the brand. The Sotheby’s DNA is extremely important, as it began as an action house more than 400 years ago and maintains the symbol of luxury and exclusivity. Each day I continuously strive to ensure that the status of the brand is upheld in the utmost professional manner.
What’s it like to work alongside your mother?
After all these years, although I spearhead our United States operations, I will never not be her assistant. She is the boss. Having a family business is a blessing and a curse at the same time. I think that, at the end of the day, we’re a great balance. She’s extremely business oriented, and I ensure the essence of our brand is accurately positioned.
What was the most challenging part of 2023?
The most challenging part of 2023 was the fact that the market dropped from under all of us in Los Angeles, so rapidly. We had come off five years of being the most important luxury market in the country to now having to pivot because of certain regulations that came into place. I think the adjustment came so quickly, and the challenge was learning how to pivot and be flexible in an instant.
What’s your favorite part about being an agent?
My clients and their beautiful homes. The fact that clients let me into their lives and into their homes. It’s something so personal, and I am beyond grateful and appreciative to be welcomed so graciously.
Tell me about your TV show launching this year. What should we expect?
All I can share is that we’re so excited for the world to get to see how we do what we do.
Immigrant Rises to the Top
Santiago Arana joined The Agency in 2014 as a principal and partner, specializing in high-end residential real estate and new construction across some of the region’s most coveted neighborhoods. Originally from Bolivia, Arana has closed more than $4.6 billion in Los Angeles real estate.
How did you first get into real estate?
As an immigrant who came to learn English and fell in love with this country and city and decided to live here, real estate was suggested to me by a family member while I was waiting tables and dropping resumes to different companies in search of a job as a business administration and marketing graduate. I educated myself and decided to understand what it would mean to be a real estate agent in a city like Los Angeles, and I decided to get my license and pursue it as a career.
Within Los Angeles, which neighborhoods are you most passionate about and why?
I am most passionate about Brentwood, Pacific Palisades, Santa Monica and Malibu because of the proximity to the ocean and the activities and lifestyle you get to have.
What excites you most about a home?
The things that excite me most about a home are a good kitchen, a great yard with privacy, a gym and wellness area and a view.
Tell me about the Westside expansion you helped spearhead at The Agency.
Since I was a long-time Westside resident and successfully doing business for several years, by the time I met Billy (Rose) and Mauricio (Umansky), and we decided to open The Agency in the Westside, it was only natural for me to want to bring The Agency with all the cutting-edge technology, marketing and new way to sell properties and curate lifestyle to the area that I am part of.
Tell me about being partners with Umansky and Rose. How do you three work together?
As company owners, we exchange information and ideas on how to grow the company and in which direction. We share our individual goals and collective goals as we enjoy the journey. We became very close friends, and we feel blessed to have the ability to build an incredible company at the same time that we have built a great friendship and enjoy it while we do it.
What was the most challenging part of 2023?
The most challenging part of 2023 was the substantial number of fewer transactions that occurred compared to the years prior. Having the ability to individually, and as a company, adjust to those changes rapidly and keep moving forward and continue to grow at the same time (was challenging).
And the best part of 2023?
The best part of 2023 was, while going through the adjustments and making the right moves, there was a reminder that in our business there are cycles, and we can be nimble and learn from the experiences of a challenging year to become better and be prepared for the future.
What’s your favorite part of being an agent?
Having the opportunity to meet incredible, unique individuals of all different ages, backgrounds, diverse businesses and cultures and, in my case, become friends with many of them to enrich my life on a professional and personal level.
An Emphasis on Iconic Estates
Drew Fenton is the chief executive of Carolwood Estates, a boutique brokerage firm he founded in 2022 after 16 years at Hilton and Hyland. Fenton, who specializes in significant estate properties, primarily in the Beverly Hills, Holmby Hills and Bel Air area, has listed and sold more than 70 properties in excess of $20 million.
How did you first get into real estate?
I’ve always had a great respect for architecture and design. I entered the industry while in college. The connections and colleagues I made during that time helped to build the foundation of my current business.
Tell me about your choice to branch off and create your own boutique firm, Carolwood. What inspired this transition?
Starting Carolwood was an organic process. It came out of necessity. A natural progression of 20 years in the industry.
What are some of the benefits and challenges that come with being on your own?
Being able to set a new standard for the look and feel of what a bespoke firm should be has been a thrill. There are always learning curves when starting something new, but our team consistently rises to meet any challenges.
What sets Carolwood apart?
Within just one year we have already solidified our place in the market with an instantly recognizable brand and an unrivaled pool of talent and clientele.
Within Los Angeles, which neighborhoods are you most passionate about and why?
We focus on the prime locations in Los Angeles. Our agents represented the highest sales of the year in the city of Los Angeles, Beverly Hills Post Office, Los Feliz, Broad Beach, Holmby Hills, Brentwood, Santa Monica, Toluca Lake and the Hollywood Hills.
What excites you most about a home?
I’m honored to have been able to represent some of the most iconic estates in the city over the years. Exploring the history of and presenting to the world the architecture of Casa Encantada, Chartwell, the Manor, the Playboy Mansion, the Owlwood estate, the Wave House and Ennis House, among others, has been a dream.
What was most challenging in 2023?
Lack of inventory and high interest rates.
And the best part of 2023?
The overwhelmingly positive feedback and recognition we’ve received has been incredible.
How has Carolwood grown over the course of the last year?
We started the year at around 90 agents at our penthouse office. We’ve now expanded to around 150 associates with an additional floor secured within our Beverly Hills headquarters. “The Terrace” is also home to our newly established commercial division. Outside of Beverly Hills, we expanded into Montecito and Newport Beach. Most recently, we partnered with David Parnes and James Harris of Bond Street Partners in February.
What’s next for the brokerage?
The best is yet to come.
