Alex Abad South Bay’s Homegrown Entrepreneur Talks About the Rise of El Segundo and the Real Meaning of Real Estate Success
Alex Abad was well into adulthood when he selected real estate as his ambitious next act. “It was something I always wanted to do,” says the entrepreneurial Alex Abad, who joined South Bay Brokers in 2005 after selling off majority control of his multi-million dollar janitorial company, which he had built from scratch with his wife and a $5,000 credit card.
“We had established ourselves as a very elite company that provided an extremely high level of service,” says Abad, who still owns a stake in the firm.
“That carried with me over to real estate.”
Best in Class: Abad is consistently ranked no. 1 at Palm Realty Boutique, which includes over 100 agents
The Real Deal: In 2017, he closed over 100 residential and commercial real estate transactions
Community Minded: Abad is a current member of EDAC, El Segundo’s’ Economic Development Advisory Council, and former chairman of the El Segundo Education Foundation
Soon after joining South Bay Brokers (since merged with Vista Sotheby’s International Realty), Abad was charged with opening a Hermosa Beach office with colleague Nick Schneider. He then opened another office for them in El Segundo. With the move to El Segundo came a homecoming of sorts and a planting of his flag in what would become the center of his business.
El Segundo, after all, was where his father had worked not long after bringing his family from Argentina in the late 1960s. As a child growing up in the South Bay, Alex spent many happy days doing what South Bay boys do—surfing and hanging out on the beach.
Even after switching real estate firms in 2013—the year that Abad joined Palm Realty Boutique—he stayed focused on El Segundo. From his brick-front office located in the center of the still-charmed town, Abad’s been active not just in real estate but in shaping the town’s future too. In addition to being its high-profile booster, he is a member of EDAC, the town’s Economic Development Advisory Council, along with being the former chairman of the El Segundo Education Foundation.
In recent years, the town has blossomed to heights few could predict, and Abad is more than pleased.
“In the last couple of years we’ve had over 170 companies come to El Segundo.”
Many of them are in tech or production and seeking sharp-looking creative spaces blessed with El Segundo’s close proximity to the airport, along with other plum bonuses that come with the location.
“The main reasons why a lot of individuals and companies are intrigued with El Segundo,” says Abad, “is the quality of education, the quality of life and the business-friendly atmosphere that El Segundo provides along this amazing coastal corridor.”
News on the residential side might have you kicking yourself for not scooping up that $500,000 charming shack you were eyeing 10 years ago. Inventory is low and prices are soaring.
“There’s an average of eight to 11 single-family homes at any given time,” says Abad.
“This makes it extremely competitive for buyers, who find themselves often dealing with multiple offers on any given home.”
Scarce inventory is not unusual in the South Bay, but demand has stepped up with the number of new companies coming to town—which means, prices are rising at the pace of a turbo-charged elevator.
“In 2016 the median price home in El Segundo was about $950,000,” says Abad.
“In 2018 it’s roughly $1.4 million. This growth has made El Segundo the city with the fastest increasing land value in California for 2017.”
It’s a wave Abad has been riding with ease. After all, he was that kid with a penchant for making others happy, and in business, the entrepreneurial self-starter with no qualms about rolling up his sleeves to get a job done.
It’s a lifetime of experience that makes for a clear-eyed assessment of what his current vocation is really about: “I start every day by being extremely grateful for everything I have,” says Abad.
Then a challenge: “How can I do a better job today?” It’s a mentality that Abad adapted from his earliest work history—to perpetually bring forth an increased level of service, with the goal of being the go-to guy. In the South Bay’s sea of agents, how does one even stand out, much less be selected as the right one for the job? Being highly knowledgeable, likable and reliable are good places to start, he says, “If I’m chosen it means I’m trusted—and to be trusted is the greatest reward you can have in this business.”
Palm Realty Boutique
201 W Grand Ave, El Segundo, CA 90245
310.877.6488 | alexabadrealestate.com
Photography Courtesy of Alex Abad