For more than four decades, Joyce Rey, who heads the Global Luxury Division for Coldwell Banker, has proven herself indispensable in the refined world of international luxury real estate. She is nothing short of a legend—among her celebrity clients, her professional colleagues, and the community she serves. One of the most respected names in top-tier real estate worldwide, Rey has amassed nearly $6 billion in career sales. With a dazzling list of accolades, awards, and sales records, she is known, most of all, for her incomparable knowledge of the luxury marketplace, her acute ability to negotiate even the most complex transactions, and her particular talent for putting clients at ease.

Recently, Joyce talked with Haute Residence about the Beverly Hills market and where she sees real estate trends going in the future.

Haute Residence: What is unique about your market?

Joyce Rey: What makes Beverly Hills unique is that it almost exclusively deals with luxury homes, and I have been involved in this luxury segment of Beverly Hills my entire career. I have, on several occasions, sold the most expensive house in the United States, and in 1979, I started the first division in the world to only handle million-dollar houses. In today's market that doesn't seem that impressive but back then no one could believe there was a company only handling million-dollar houses. It was very exciting and made news around the world. I would say that's the single most unique part of the market I deal with, that the geographic area lends itself to these beautiful estate properties.

670 Hot Springs Road, Montecito, CA 93108

HR: What kind of trends have you been seeing recently in the market? Has COVID affected the market?

JR: The first trend improved our market. All of a sudden the household became the focus of people’s lives because they were living in their homes all day long and doing their work from home. I actually predicted that when COVID first hit and we had the first lockdown. I would say the prevailing thought among realtors was that we were going to have a tough time and that we wouldn't be able to sell houses during the pandemic but I tried to look for the silver linings. The first was that there was no traffic on the roads. I thought that was fantastic! I could always get to my appointments on time! Secondly, I looked at my own situation and I never used to spend any time in my house during the day unless I was sick. I was out and about all day long and then I would go out in the evenings, so I was largely in my house sleeping. All of a sudden I was locked up in my house for three weeks and I’m thinking it’s not just me who's looking around their house and realizing how important it is and the things I could be doing with it… this is going to be prevalent amongst everyone. They're going to want to have a larger place to live, a home office, a gym, an outdoor area, etc.

HR: Are there any other trends that have been happening recently now that we’re beginning to come out of COVID?

JR: Well we’re coming out of COVID but we’re coming into a difficult time in the economy with inflation hanging over our heads. Typically, real estate does well in times of inflation, though one concern, of course, is interest rates. Usually, the federal government will raise interest rates to tamper down inflation, so it’s kind of a catch-22. Another thing is the luxury market is the strongest it's ever been, presumably because people are searching for safe places to put their money and traditionally real estate is one of the safest. Especially if you’re spending more time in your home, what better place is there to have part of your savings than in your personal residence?

9152 Janice Pl, Beverly Hills, CA 90210

HR: What do you see happening in the future for your market?

JR: Most people would say that there has to be hills and valleys and since we’ve been on a 10-year up-trend there could be cloudy skies ahead, but I just don't see any indication of that in the marketplace. People are generally optimistic right now, though it has been harder for developers to find projects because the prices are high. We are in a seller’s market, so it’s hard for them to find projects where they can see a profit at the end. That certainly is problematic, though ultimately that means less supply, and less supply means rising prices, so right now most people are thinking that 2022 is going to be a favorable year for real estate—especially for luxury real estate.

Joyce Rey is the exclusive agent representing the Beverly Hills, California real estate market as a member of the Haute Residence Real Estate Network. View all of her listings here. For more information, please contact Joyce Rey at 310-291-6646 or joyce@joycerey.com.

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Novak Djokovic

Photo Credit: ShutterStock

In 2019, Djokovic purchased the lavish unit at Eighty-Seven Park in North Beach. Although his purchase was prior to the completion of the property in late 2019, he acquired the space at $5.8 million from the developer, an affiliate of David Martin’s Terra. In February of this year, the tennis pro listed his opulent home on the market for $6,199,000. Several months later, Djokovic’s Universe Collins Investment LLC sold the property at a slightly reduced final price of $6 million. The buyer has not been revealed.

The grand condominium building was designed by award-winning architect Renzo Piano, Rena Dumas Architecture Intérieure, and WEST 8 Urban Design & Landscape Architecture. Miami Developer David Martin of Terra Group completed the 66-unit, 18-story oceanfront tower at 8701 Collins Avenue in North Beach in November of 2019. The glass structure is uniquely shaped as an elliptical and offers picturesque views of the Atlantic Ocean.

Djokovic’s former residence in unit 901 of the glamorous condominium spans 2,233 square feet of living space and includes three-bedrooms and three-and-a-half-bathrooms. The interior highlights an open floor plan with walls of glass, 10-foot ceilings, and a 1,715-square-foot wraparound terrace. The minimalist style kitchen is equipped with ultramodern appliances, natural stone countertops, and an island with bar seating. The dining area sits adjacent to the kitchen and features a sliding glass door leading to the terrace. The master suite also includes access to the terrace as well as an ensuite bath with a stand-alone tub, glass shower, and dual vanities. The building offers a private, gated park with botanical exhibition. Other luxe amenities consist of a spa, fitness center, two oceanfront pools, cabanas, restaurant, and wine bar.

Carlo Dipasquale with Cervera Real Estate and Wendy Mendoza with Cayhill and Dumott Realty represented the seller. Joyce Gato with Douglas Elliman represented the buyer.

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Michael LaFido is a real estate consultant and top-producing Realtor with over twenty years of experience in the real estate industry specializing in Luxury listings as an @properties agent. He is the founder of the Marketing Luxury Group where he assists other real estate agents and affluent homeowners by providing top-tier services including consulting, lifestyle marketing, public relations, and coaching to help agents and owners sell their luxury homes; utilizing our proven and reputable strategies.

Michael’s marketing has been the featured cover story in Crain’s Chicago Business and highlighted in Forbes, Chicago Tribune, Mansion Global, Wall Street Journal, and FOX News Chicago Business Hour to name a few. He is the author of the books “Luxury Listing Specialist, “Outside The Box”, and “Marketing Luxury”.

Michael has also created the nationally recognized luxury designation for real estate agents which is known as Luxury Listing Specialist (LUXE) and is taking place this year on May 27-27, 2021 in Napa. This new designation establishes an in-depth and detailed set of standards for agents that represent luxury homes and is currently offered for Continuing Education (CE) for real estate agents in Texas and Georgia. 

Here is a sneak peek of what a day at the Napa Luxury Designation Event would entail: 

LUXE PART 1 – ATTRACT MORE LISTINGS

Day 1 – Schedule:

9:00am – 12:00pm: LUXE Part 1

Module 1: Luxury 101

Module 2: Build Your Foundation

Module 3: Luxury Listing Blueprint

Module 4: Video Marketing Methods

Module 5: Conversion Systems

Module 6: Pre-Listing Advantage

Module 7: Ultimate Listing Presentation

12:00pm – 1pm: LUNCH Served

1:00pm – 4:30pm: LUXE Part 2

4:30 pm: Wine Tasting

The training is based on the same principles Michael outlines in his book, “Luxury Listing Specialist” that he teaches to agents internationally. Here, Michael LaFido answers four quick questions about what realtors should know about the event. 

Photo Credit: Marketing Luxury Group

Why did you start the Napa luxury designation event? 

Agents have been requesting we start up live in-person training again. What better location to have a Luxury Designation event than in Napa at a winery?

What makes this program unique? 

Unlike other luxury designations, an agent doesn't have to have sold Luxury homes to become a Certified Luxury Specialist. We believe that agents should have the tools to be successful with working with Luxury properties.

What can someone expect to learn from the event? 

Agents will learn the various strategies to break into and dominate the upper price points in their market.

Why should someone attend? 

An agent, broker, or team leader should want to attend if they are committed to increasing their average sales price and attract more high-end and luxury clients.

To attend this one-of-a-kind event and take your realty business to the next level, please visit the website here to sign-up today: https://luxurydesignation.com/luxe/ 

Photo Credit: Marketing Luxury Group

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Minimalism in interior design is about clarity and a sense of zen, but all too often we get hung up on minimal texture and minimal color. The best spaces are the ones that take risks and in this living room, we dared to let a few knockout pieces stand for themselves. We grounded the space with natural elements while infusing a rich color palette with soft, luxurious texture.

This one-of-a-kind sofa was found in a warehouse buried under bolts of fabric and lovingly named, Giuseppe. Covered in a Ralph Lauren crushed velvet, its chesterfield style paired with mid-century modern legs is the epitome of luxe and sophistication. It softens the cold stone of the magnum fireplace yet stands strong on its own. No throw pillows necessary.

Photo Credit: John Friedrich

The unique tree sculpture next to the sofa was actually a fallen tree at one point that was stripped and charred and now repurposed as natural art, adding intrigue, texture, and warmth. The way it stands formidable and opposite the fireplace is an irony that deepens the character of the space.

We wanted textural window treatments, but for this application, we chose to think outside the box. Whenever you do something unexpected in interior design you breathe life into the space, giving it a pulse as this creates a sense of safety and desire. We cut thousands of strips of carpet binding and knotted them onto a galvanized pipe that acted as our curtain rod. The result is a stellar covering that filters the light and blends with the walls so naturally, you get the feeling you’re under a weeping willow tree. Pair that with the silk rug and oversized art and you are left with a calming, luxurious space evoking a personality all its own.

Photo Credit: John Friedrich

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The beautiful Willamette River flows through some of Oregon’s loveliest cities and feeds the fertile Willamette Valley, the heart of Oregon’s wine country which is home to nearly 600 wineries. Along the shores of the river in the cities of West Linn, Wilsonville and Newberg, luxury estates abound, and residents take advantage of the outstanding amenities and cultural opportunities each community has to offer.

Photo Credit: LUXE Christie’s International Real Estate

West Linn

West Linn is an affluent city of 25,000, centrally-located just minutes south of Portland. Located along the Willamette River, West Linn has been called the “city of hills, trees and rivers” and offers varied residential property options from upscale residences in the hills overlooking the river to luxury waterfront estates to vineyard acreage. “You’ll find an abundance of small-town charm in West Linn,” says Kendra Ratcliff, vice president and principal broker of LUXE Christie’s International Real Estate. With excellent schools, a quaint downtown, tree-lined streets, abundant parks, and recreational activities, West Linn is hailed as a superb, family-friendly community.

Photo Credit: LUXE Christie’s International Real Estate

Wilsonville

Situated just south of Portland along the Willamette River is the city of Wilsonville. This community of 24,000 residents is perfectly located for those looking for a suburban or semi-rural lifestyle while having convenient access to downtown Portland and Portland International Airport. With excellent access to the river, residents enjoy boating, swimming and other water sports. “While the river is a big draw in Wilsonville,” Ratcliff says, “you are also able to find acreage properties with equestrian facilities, vineyards and luxury estates. It’s a diverse city that combines a great school system, parks, restaurants, and a thriving business community.”

Photo Credit: LUXE Christie’s International Real Estate

Newberg

In the heart of Oregon’s wine country is Newberg, home to a vast array of award-winning vineyards and wineries as well as a historic downtown filled with restaurants, charming boutiques, art galleries, and a world-class cultural arts center. For water enthusiasts, through Newberg, the Willamette River is calm and quiet with little coves and beaches to stop and enjoy a swim or a picnic. “A wonderful thing about Newberg real estate is that you’ll find both extraordinary properties in the rolling hills among acres upon acres of vineyards and distinctive estates along the shore of the Willamette River,” explains Ratcliff. “Newberg is a quintessential wine country town. It has the feel of Napa or Sonoma but without the price tag!”

Photo Credit: LUXE Christie’s International Real Estate

For more information about luxury properties throughout Oregon, please contact Kendra Ratcliff at 503-330-6677 or Kendra@LuxeCIR.com.

LUXE Christie's International is the exclusive real estate company representing the Oregon & Washington (SW, Central & Eastern) real estate market as a member of the Haute Residence Real Estate Network. View all of their listings here.

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