Our guest this week is perfect for anybody who wants to learn more about the ins and outs of real estate. Maybe you’ve just gone to a Forest Hill Real Estate Brokerage for help finding your dream home, maybe you want to go into the real estate business, or maybe you want to sell your house. Either way, this interview will help all of you.
Aaron Kirman, President of Aaroe Estates for John Aaroe Group, just set the bar to a historic high, with the sale of the iconic Danny Thomas Estate in the exclusive Trousdale Estates enclave in Beverly Hills. The sale marks the second highest sale for a residential property in Beverly Hills’ history, at $65 Million US. We had the opportunity to speak with Beverly Hills super real estate agent as he talks real estate investment, selling internationally and paving your own lane.
How did you become interested in real estate?
When I was a kid, I would have my parents drive me around the neighborhoods so that I could go to open houses. I loved being around the excitement that surrounded the buying and selling of homes and the energy and passion that were always so visible. I remember that I would pretend to be an agent and visualize how the people would react to my sales pitch. It was always something that seemed so intuitive to me, and something that I knew I was born to do. From there, my passion quickly evolved into a deep appreciation for the art and architecture of beautiful homes.
Would you say real estate is the number one long-term investment any one person should look into obtaining for future funding of their retirement? Why?
I would say that the real estate market in Los Angeles is clearly one of if not the strongest in the world right now. We are seeing record highs in 2016 and 2017 with numerous sales over 40 and 50 million. I would say that real estate has always been one of the strongest investments that anyone can make, but it is a tricky game that requires years of experience and skill. One of the marquee elements of Aaron Kirman Partners and the reason behind putting it together was the idea that I wanted to bring together the most diverse team of agents and brokers. We are able to provide unparalleled investment knowledge, as well as specific regional insight that ensures our clients end up in homes that are the perfect fit for their needs and wants.
What market would you currently say that we are in? Do you feel it’s a buyers market or a sellers market?
We are absolutely in a sellers’ market. We have seen the highest prices and some of the least inventory, which drives prices higher and higher every day.
How is selling different outside of the United States?
Every city and every country have different laws and procedures. On top of that, every place has a unique set of customs and culture that make for a very complex set of circumstances that must be dealt with in a particular way and with great understanding of all factors involved. It takes a very experienced and knowledgeable agent, and I personally believe, a very well traveled individual, to be able to handle this with grace and precision.
You have worked with celebrities like Nicki Minaj, Orlando Bloom, and Rhianna. As a realtor would you say that you create your own avenues or do realtors always depend on leads?
I think that we all have the ability in every aspect of life to create our own avenues. I always tell my team that we make our own luck. Leads are absolutely a huge part of this business, but the best leads are honestly referrals and word of mouth. Leads are what provide volume and opportunity, but ultimately it comes down to how well you connect with the audience that you are approaching and how persistent you are at going after the business that you want.
Is networking the most important aspect in a realtors career for obtaining new clientele?
It’s hard to say what the most important aspect of real estate is. It is such a multifaceted business and so diverse that so much goes into every sale and every client. I wouldn’t feel comfortable singling out one element, but of all of them, networking is absolutely one of the most important. With an industry that has so many variables, who you know and how strong of a relationship you have with them, is very often the deciding factor on whether deals get made and how well you can retain clients. Possibly the most important factor is how you can foster these relationships in such a way that you not only have a solid client, but also a real friend. One of the favorite aspects of my business is that I get to work on behalf of some of my best friends. A lot of those friends started as clients, and over the years and several deals, you really get to know people and their families. It really is a business that allows you to affect your clients’ lives in such a positive way.
If you could advise any person interested in becoming a realtor, what would you say?
Be sure that you are passionate about real estate. This is a business that demands incredibly hard work, diligence and a constant work ethic that allows you to work seven days a week. For those of us at the top of this industry, we have all learned that there are no breaks. We work on weekends, on holidays, and all times in between. If Real Estate isn’t your passion, it will grind you down, however, if it is your passion, it is the most rewarding profession that I could ever imagine. I wouldn’t change it for the world.
Check out one of Aaron Kirman’s exclusive listing below.
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