Top Bay Area real estate industry names Olivia Hsu Decker, Michael Dreyfus, Herman Chan, Roh Habibi, and Jill Levy of Golden Gate Sotheby’s International Realty joined Haute Residence for a west coast-focused webinar. The firm has 600 agents in 26 offices. In 2019, it generated sales of $5.2 billion. It is #3 by sales volume among 1,000 Sotheby’s International Realty affiliates worldwide.
The event was hosted by Haute Living's Seth Semilof, and it touched on the real estate industry in the San Francisco Bay Area and California as a whole. Watch the webinar below.
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Top left: Jill Levy, bottom left: Olivia Hsu Decker, top right: Michael Dreyfus, bottom right: Roh Habibi, center: Herman Chan
Highlight quotes:
Olivia Hsu Decker: "People are looking outside the major city areas. The wealthy will keep their homes in cities but will get secondary homes in open areas. The whole lifestyle is shifting from major city crowding... A positive attitude is most important. There is unemployment, worries, and deaths, but we have to stay positive and do our best... We are showing homes following the safety guidelines... In high-end, over $5 million, inventory is low. Sales for the first quarter of the year were good."
Michael Dreyfus: "Things are starting to happen. It seems like this week people are waking up a bit more... $15 million+ market is super active, the $5 million market is slow, and entry-level seems to be OK... I have seen four crashes but never been in a market where I couldn't do anything; the first couple of weeks were strange and not a good feeling... This is an easy time to burn out. I'm trying to watch my team, to pick up signs that they are working or worrying too hard."
Herman Chan: "I don't feel much of a slow down. To a certain degree, people are back in business, not wanting to wait anymore. For discretionary buyers or sellers, they can wait. But for those compelled to transact that fit into the four Ds (divorce, diapers, death and diamonds) life has to go on for them."
Roh Habibi: "It has been fun to spend time with my wife and kids. Just being able to find the silver lining, to be able to spend quality time with the family, and continue doing work and flourishing... Everybody is at home, stuck to their phone, so right now is the time to capitalize on attention to build a solid brand. Social is a great way to expand your brand, doubling and tripling down on that."
Jill Levy: "We have a trend of people from the city, South Bay and Silicon Valley to purchase second homes in Napa Valley. We have seen a spike in our markets, especially since last week once they allowed owner-occupied properties to be shown... Because of the shortage of inventory and the demand, we (in Napa Valley) have been able to maintain our pricing."
