Even amid rising interest rates, Hollywood’s real estate up-and-comers agree that business is good. Five emerging agents on the scene — Kati Cattaneo, Jacob Greene, Marco Salari, Kevin Stewart and Caroline Wolf — notice that although inventory may be lacking, demand for well-made homes in Los Angeles is unwavering.
“Los Angeles will always be one of the best and most desirable places to live in the world,” says Coldwell Banker’s Salari, 26. “Even with the interest rates and threat of recession, this market is strong with many buyers needing homes.”
This year, Salari closed on a deal for a Santa Monica property that got 22 offers, all over asking. His clients were the prevailing buyers, which Salari calls a “hard-fought win.” Salari, a former Italian basketball player, also struck deals with Favorite Daughter co-founder Erin Foster and actress-screenwriter couple Katey Sagal and Kurt Sutter. (Note: All information on celebrity clients and transactions is from public records, unless otherwise noted.)
Sotheby’s International Realty’s Catteneo, 31, also assures that “the market is stabilizing from the sharp rise in interest rates.” With a former career in the fashion industry, the Pacific Palisades-based realtor has struck deals for the Riverdale cast, including Cole Sprouse, KJ Apa and Lili Reinhart, along with Dylan Sprouse and Barbara Palvin.
The Agency’s Stewart, 28, came to L.A. five years ago to launch his real estate career and has since found homes for actress Billie Lourd, NBA player Luke Kennard, Tinder and Bumble co-founder Christopher Gulczynski and actor Gary Cole. As for the current state of the market, Stewart says it’s “even more price sensitive than before” due to the recession.
“If there is one thing that holds true in L.A., it’s that people are willing to pay a premium for style,” Stewart says. “Good houses that are done really well will continue to sell in this slow market.”
“Buyers seem a bit hesitant to do a lot of work to houses before move-in,” Wolf, 35, says. “I think that collective exhaustion is a real thing after the past few years! That said, if a house is great and especially move-in-ready, high numbers are still happening.”
Greene, 28, agrees. “Buyers love a well-executed finished product that does not require any work. Turnkey homes are commanding the top prices due to the lead time and cost of construction.”
Twelve years ago, Greene saw Million Dollar Listing: Los Angeles star Josh Altman driving on the road. “I told him he had to hire me,” Greene says. He has since worked his way up in the business under the tutelage of Josh and his brother Matt. Recently, he repped Hailey Steinfeld, in addition to listing the former home of the late, long-married actors Hal Holbrook and Dixie Carter.
Wolf, 35, comes from an interior design background, with a master’s in interior architecture under her belt. This year, her clients have included the likes of OneRepublic bassist Brent Kutzle and Spider-Man: Far From Home actress Laura Harrier.
All five agents are nominated for the rising star award as part of The Hollywood Reporter‘s Los Angeles Power Broker Awards, set to take place on Sept. 20 in Los Angeles and presented by The Society Group.