Table of Contents
- How long have you been in business?
- What made you choose real estate as a profession?
- What makes Coldwell Banker Previews, and the Edlen Team, stand out?
- What aspect of the business do you most enjoy?
- As one of the top agents for Coldwell Banker and the top real estate agent in the Palisades who has sold nearly $2 billion in home sales, what’s your formula for success?
- As a real estate agent specializing in the Pacific Palisades—and for more than 35 years, a resident of the area—what does life in the Palisades offer that other parts of L.A. do not?
- What are the latest Westside market trends that you’re seeing?
- How have things shifted in the last few years?
- Where do you see the real estate market headed in 2015?
- What do you do during your off-hours?
From listings to staging to escrow and closing, Michael Edlen and The Edlen Team are not only experienced in the logistics of buying and selling homes, they’re also invested in creating a smooth and pleasant experience for their clients.
How long have you been in business?
Michael Edlen: After a brief period of semi-retirement in the 1980s, I became a real estate agent and broker and am about to celebrate my 30th year.
What made you choose real estate as a profession?
Michael Edlen: When my wife and I searched for our own home many years ago, we felt frustrated at the lack of professionalism we encountered from the agents we asked to help us. None of them seemed very interested in finding what we wanted, even though we gave them a list of only five criteria!
After I’d retired, following the sale of a family business, I selected real estate because it gave me the opportunity to correct what I had found lacking in the marketplace so many years earlier by providing the level of service that my wife and I had been unable to find during our own experience.
What makes Coldwell Banker Previews, and the Edlen Team, stand out?
Michael Edlen: Coldwell Banker Previews is clearly the market leader in luxury home sales internationally, with a network of 3,100 offices in more than 50 countries and the largest sales volume in the world. Its commitment to high-level service has led it to be ranked number one for the 17th time in 2014.
Our team stands out because we have a combined experience of nearly 100 years of licensed and focused expertise to service our clients. Rather than merely being of general assistance, as is seen frequently in the industry, each agent on our team has specific skills developed in response to each aspect of our transactions. Therefore, we are able to provide in-depth guidance as well as anticipate challenges to avoid various issues that otherwise might result in difficulties for our clients.
What aspect of the business do you most enjoy?
Michael Edlen: I enjoy nearly every opportunity for us to be of service, which this business provides every day of the year.
As one of the top agents for Coldwell Banker and the top real estate agent in the Palisades who has sold nearly $2 billion in home sales, what’s your formula for success?
Michael Edlen: A genuine, enthusiastic interest in being of service, coupled with a well-developed set of skills that are necessary to understanding and being able to provide what can satisfy the client’s desires.
As a real estate agent specializing in the Pacific Palisades—and for more than 35 years, a resident of the area—what does life in the Palisades offer that other parts of L.A. do not?
Michael Edlen: Although it’s changed a lot since the 1970s, the Pacific Palisades still embodies a family-based lifestyle that is more characteristic of villages than of larger cities. The overall building height limitation has enabled it to retain that character, as compared with other former villages such as Westwood. It offers excellent schools, vast recreational alternatives, and a very pleasant climate.
What are the latest Westside market trends that you’re seeing?
Michael Edlen: A continuation of rapid new home construction fueled by the near-historic low cost of money and a higher rate of returns for investors. Although the pace and frenzy have slowed down noticeably, the trend still appears upward for a while.
How have things shifted in the last few years?
Michael Edlen: First-time buyers have become more frustrated in trying to compete with all-cash investors who have bought about 30-percent of the listings available. Prices have continued to escalate as the demand still exceeds the supply of homes available.
Where do you see the real estate market headed in 2015?
Michael Edlen: I think prices will generally increase another 5% to 8%, slowing down before an overdue market price correction might begin toward the end of the year. However, as usual, it will depend on actual interest rate levels and available homes for sale.
What do you do during your off-hours?
Michael Edlen: I could say that there aren’t any! But when I do find downtime I enjoy reading, studying, meditating, sharing time with family, taking walks and hikes, and listening to music.
Photography by Paul Jonason