Navigating the Los Angeles real estate landscape is challenging, especially as trends indicate a continued tight market where demand remains greater than supply.
Finding the real estate you’re looking for requires a combination of market awareness, expertise, and strategic planning. The search can be daunting but a real estate agent with the right experience and knowledge can make real estate acquisition easier.
So, how do you find the right real estate professional? Plus Render makes the process easier with this guide. We’ll also share our shortlist of the best real estate agents in Los Angeles.
Let’s begin by tackling the subject matter of foreign ownership.
Can Foreigners Buy Property in LA?
Yes. foreigners can buy, sell, and even rent properties in Los Angeles.
It’s easy to capitalize on its thriving economy, but you need to obtain an investor visa if you’re buying as a non-resident foreign national. Also, you can only pursue real estate as an investment opportunity, not for personal use.
That being said, you can approach lenders for financing. This requires a larger down payment which can be as high as 40% of the purchase price. You must also provide proof of income and an Individual Taxpayer Identification Number (ITIN) from the IRS.
If you’re selling, 15% of the selling price must be withheld according to the Foreign Investment in Real Property Tax Act. The percentage will be used to pay for taxes from capital gains.
It’s a rather complex process so it’s best to hire a real estate agent who can familiarize you with the current landscape.
If you aren’t from LA, a convenient way to view and examine properties is by asking about renders and virtual experiences. These allow you to survey listings even if you’re located thousands of miles away.
Best Real Estate Agents in Los Angeles
Who are the most successful real estate agents in LA?
The list of star performers varies across areas. Here are the best of the lot:
1. Jade Mills
Sales Volume (2023): $337 million
Jade Mills, known as the #1 agent for Coldwell Banker, recently surpassed $9 billion in sales. She finds and sells condominiums, gated estates, and mansions for the rich and ultra-rich. Her network includes celebrity A-listers, tech founders, and other business leaders.
Mills is known for her integrity, professionalism, and for prioritizing her clients’ needs above all. She works on the principle, “Don’t sell anything that you would not purchase yourself”, so quality listings are guaranteed!
Check out her home tour videos on Instagram.
2. Chris Cortazzo
Sales Volume (2023): $449 million
Chris Cortazzo has become synonymous with Malibu, the ultimate coastal paradise. He closed more than $8 billion in sales during his nearly three-decade career.
Cortazzo has been honored as the top sales associate, outranking more than 92,000 Coldwell Banker-affiliated agents.
Cortazzo is known for his down-to-earth personality, deep understanding of the market, and negotiation skills. He was also a recipient of the Philanthropic Impact Award in 2023.
3. Santiago Arana
Sales Volume (2023): $312 million
Santiago Arana ranked 6th in the country, making him one of the most distinguished agents. His is a true rags-to-riches story, with a strong network of clients in every pocket of LA and globally.
Arana led The Agency’s expansion in the Bal Harbour neighborhood, demonstrating his solid foothold in a fluctuating industry.
He’s been recognized for his excellent work ethic, research-backed guidance, and discrete transactions, making him the perfect choice for the elite.
4. Brett Lawyer
Sales Volume (2023): $188 million
Brett Lawyer began his career in the challenging real estate market in 1985. Since then, he’s earned over three-quarters of a billion dollars in sales!
Lawyer has a vast network, with clients like Katy Perry, Madonna, and Adrian Gonzalez. He also helped Ben Affleck and Jennifer Lopez acquire a 5.2-acre property in Beverly Hills for approximately $61 million.
5. Josh Flagg
Sales Volume (2023): $173 million
An original cast member of Bravo’s Million Dollar Listing Los Angeles, Josh Flagg is a fan favorite. He crossed $3 billion in sales in the last decade, with achievements that include the $40 million sale of 1001 North Roxbury Drive to Eric Baker, the 51-year-old co-founder of StubHub.
As reviews put it, Flagg is “brilliant, professional and wise beyond his years” offering an “immediate understanding of the property.” This dedicated agent has an eye for detail, which explains why the Wall Street Journal named Flagg as one of the top agents in California.
It’s worth noting that top realtors don’t shy away from technologies like virtual tours and walkthroughs. Aside from letting you evaluate listings more accurately, they facilitate smoother transactions while minimizing unpleasant surprises.
4 Things To Look for in Real Estate Agents
When vetting real estate agents, keep an eye out for their:
Experience
It takes less than six months to become a real estate agent, which explains why the industry is so saturated. Sift through the noise with realtors who are members of the National Association of REALTORS. They should have an extensive knowledge of the local market, including its past and future performance.
Chasing experience won’t just bring you peace of mind. It will also help you tap into their networks, giving you access to reputable lenders, inspectors, contractors, etc.
Relevant Certifications
Look for agents with additional certifications. They indicate continuous learning and a dedication to keep you ahead of the curve. This could include certifications as a Certified Luxury Home Marketing Specialist (CLHMS), Certified Residential Specialist (CRS), and Resort and Second-Home Property Specialist (RSPS).
Great Marketing Skills
Whether buying or selling, you need a real estate agent with excellent marketing skills. Of course, it doesn’t hurt if they know how to leverage tech-enabled sales tools like 360 interactive virtual tours, photorealistic renderings, and walkthroughs and flythroughs.
It can help you offload your property quicker and at a higher price!
Availability
Investing in real estate is stressful, but it can be more pleasant with a responsive realtor in your corner. Choose one who is available via call or text so they can promptly address any of your queries and concerns.
Reading reviews will give you a good idea of their communication style and timeliness. Once a few have caught your eye, schedule an interview with promising candidates and then decide.
Tips for Building a Custom LA Residence
Found the best real estate agents in Los Angeles? If you’re dealing with an empty lot and plan to turn it into an apartment or a single-family home, take these considerations into account:
Location
Hot neighborhoods in LA include Beverly Hills, Echo Park, Los Feliz, Malibu, Pasadena, Santa Monica, Silver Lake, The Valley, Venice, and West Hollywood.
When looking at a potential area, consider the range of utilities and amenities as well as the transportation options. Also, check specific zoning regulations and topography to assess your building options.
Budget
How much are you willing to spend? Land costs $731 per square foot on average, but that won’t be the only expense on your list. You also need to factor in the price of house plans, excavation, foundation, inspections, construction project management, and so on.
Cost overruns are common so start with a detailed and carefully formulated estimate! This will also help you get funding if you’re building a commercial structure.
Design
Designs do more than bring your vision to life. They also help you ensure compliance so you can gather the necessary permits and approvals for construction and renovation. Bring an expert architect on board to create functional and attractive spaces.
This process can take 2 to 6 months depending on the complexity of the building. Hence, you should plan ahead. It will help you avoid setbacks caused by unexpected delays. Even better, get quality renderings from Plus Render so you can see the design take shape before starting construction.
Plus Render: See Your LA Property Before It’s Built
LA is an expensive place for planning and building mistakes. Ensure a satisfying outcome with Plus Render. Allow us to create high-quality renders that enable you to identify, correct, and anticipate design and construction flaws before they happen. This will help you meet timelines, reduce costs, and avoid the headache of do-overs. Contact Plus Render and let us help you with your property development project.
