Why Overpricing Your House Can Cost You Thousands | Howard Lorey on Selling Real Estate

You're not seeing the street. You're not seeing what's down the street on the corner. And I feel like the human part of it is still the most important thing because I don't think tech can replace that. I think the tech can speed up what we're doing, make it easier, give us tools to move through all the data, but it's not gonna replace the agent being able to help the consumer make a savvy investment. That's gonna come from a human.

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[upbeat music] Hey, folks. Welcome back to the show. Today, we're joined by Howard Lorey, the Executive Vice President of the Norman & Associates Beverly Hills office. He's also the brokerage manager, bringing more than 25 years of experience across Los Angeles, and a career built around brokerage leadership, agent development, and deep local market relationships. Howard, thanks for joining us here today.

Thank you. Thanks, Dylan. Thanks for having me. Nice to be here.

What types of deals and conversations are coming across your desk these days?

Well, it's, it's pretty, it's pretty eclectic because we're, we're across the city in Los Angeles. Our brokerage starts at, basically at the coast and comes all the way across to what they would deem as the east side. So the sizes of the deals are vast. I think there's a bit of a misconception that the, that the market is bad right now because of the rising interest rates, but actually we've had a relatively busy year, and their product is moving through our cycle pretty, in a, at a pretty healthy clip. So that's been interesting because that's not necessarily what you see written or talked about in public forums.

No, you hear a lot of people who are, uh, pessimists about the current real estate conditions, and people talking about rising interest rates and, uh, homes b- being unaffordable for many folks, and how can I get approved, right? But you're in Beverly Hills, right? A- and when we talk about that market, it's of course gonna be different than many other, uh, markets. I wanna ask you about the urban sprawl, if you will-

Mm-hmm

... of Los Angeles as a whole. And when people look at buying a home in Los Angeles, I can imagine that there's a lot that goes into this, but it's also where do you want to buy? And that could mean many different opportunities. I've also heard this idea from another guest, this idea of being like a super commuter, right? And so-

Right

... commuting relatively far distances. On a, on a, what we'll call a bird's-eye view, looking, looking into this, where do people start? How do they start this conversation?

That's a, that's a good question. Our market here is really diverse. It's, it's, our city is