Profile: Michael Greenwald
Michael's Approach to Servicing His Market

Since Michael's role in real estate involves both the purchasing of homes and the listing and selling of them, his market strategies break down into methods specific to the job.

When working with the buying of homes, Michael researches exhaustively by viewing over 100 homes every week. He has an extensive knowledge of the inventory currently on the market, but far more important than this, he also has a wide range of knowledge regarding homes not yet listed on the market, what are called "pocket listings"--properties which only a few agents know about which are not yet officially for sale. This is important because of the quickly growing market in the Los Angeles area. Houses do not stay on the market long, and in order to find the home a client wants, it may be necessary to dig a little deeper than the official listings. "It used to be common for us to have properties sitting for months and months," says Michael, "but now they don't sit at all. Things are moving at a remarkably rapid rate."

When working on selling a home, Michael takes pride in knowing that he is technologically up to par, with an extensive marketing strategy in place on the internet. Michael specializes in marketing to potential buyers in what he calls "East of 405", East of the San Diego freeway--clients who are interested in moving toward the Westside, or also from the hills and canyons of Los Angeles.

One of the most important parts of Michael's marketing schematic is networking. He networks not only between himself and other real estate agents, but also between himself and people in his community. Since he has been involved in so many different aspects of the Westside economic structure, he has many ties to many people in the area. On a local level, "I hold quarterly networking meetings between three and four hundred agents on the Westside, promoting each others' properties. This is a group which I formed several years ago in order to facilitate the buying and selling of properties in a more cooperative way."

Michael sees networking as one of the key elements to being successful in Westside real estate. "If you are an expert at networking between agents and people in the community, you are going to find a great home for your buyer before it even gets on the market. When you expose a home to as many people as I do, it is even quite common to receive multiple offers."

Philosophically, Michael realizes that buying a house can be an inordinately stressful affair. He has a program entitled Real Estate Stress Management, where he understands that it is also his job to help the client through what can often times be a maze of legalities and logistical confusion. "I work with both buyers and sellers regarding all of the stresses related to handling a real estate transaction. Right now the situation is excellent, a win-win scenario for both buyers and sellers."

One of the most important characteristics of a good real estate agent, says Michael, is that of being a good listener. Michael prides himself on having an open ear to the ideas and desires of his clients. "I listen to the needs of what my buyers and sellers want and expect, and I work with them accordingly. Many agents get criticized because they have their own agenda, and suddenly they'll show clients a property, and the clients' reaction will be 'you didn't hear me-- I don't want this.' In real estate an agent doesn't have the opportunity to make many mistakes, because there are a lot of other good agents out there. I try to listen well so I have a good idea of what my clients are really looking for."

Using Technology to Enable Communication

One unique aspect of Michael's marketing approach is his use of technology. "In many ways, real estate is 20 years behind everyone else. I want to keep up with what technology has to offer." Michael has done this by using pagers, lap-top computers, cellular phones, fax machines, and the internet to acheive what he calls "instantaneous communication of community real-estate issues." Michael sees these technologies as valuable tools with which one can simplify and expedite the process of buying the right home."

More and more people are telling me about houses they've seen listed on the internet. With many clients, I receive three or four e-mails from them before I ever meet them in person. We have definitely moved beyond just relying on index cards here."

Specific Industries Michael Works With

Michael specializes in working within some of the industries in which he has made his living in the past, especially the entertainment and health club industries. He works closely with the Los Angeles Writers' and Directors' guilds. "Quite a few agents make claims to working in these circles, but since I have actually been a part of them, I feel well qualified to help. I work often with business managers in the entertainment industry, and I feel that I have a unique understanding of their schedules and other important peripheral concerns."

Also, one of Michael's specialties is the relocation of physicians and management for the UCLA Medical Center and School of Medicine. "When someone is being recruited by the Center, UCLA will have me show them homes, and the Westside as well, since I grew up here. During the last five years I have sold houses to about 25 doctors and faculty at the UCLA Medical Center, as well as to the deans of 2 or 3 of the major schools."

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