By MICHAEL EDLEN | Special to the Palisadian-Post

Effective teams are organized to leverage the diverse skills of their members, providing a broader range of services to clients than a single agent might be able to offer on their own.

The Value of Teams

Teams often are more structured, with roles defined by the specific strengths and specialties of team members, such as sales, marketing, administrative support, customer service and strategic planning. The team leader oversees operations, ensuring that the team’s efforts are aligned with client needs and goals.

The value of having a seasoned team—especially with years of cohesive experience—cannot be overstated. Our team was the first in our marketplace, beginning in 1990 with three specialists. We have gradually grown to seven, including four team members together for nearly 25 years.

This depth of experience equips us to anticipate market trends and advise our clients effectively, ensuring they make informed decisions at every step. We excel in minimizing difficulties for our clients, and troubleshooting and problem-solving when challenges arise.

We come together to brainstorm marketing, pricing strategies, negotiating most successfully and solutions leveraging our collective expertise to navigate obstacles efficiently and effectively.

What to Look for in a Team

Some guidelines to considering a team-based approach for a more successful home sale experience include:

Experience in diverse and transitioning markets, which enables a broader perspective to better understand current issues and possible future trends.

Expertise in various fields, including market analysis, pricing strategies, home preparation and staging, photography, legal issues, and ensuring all aspects of the escrow process are professionally handled.

Well-organized systems and procedures that provide individual expertise in each aspect of the processes involved and minimize common pitfalls, unnecessary challenges and inefficiencies.

Effective marketing strategies can be deployed by a team that leverages digital platforms, networking, social media postings, and traditional print and other marketing to reach a wider audience.

Seamless internal coordination within the team that ensures all members are aligned and moving toward the same objectives, minimizing delays or frustrations for clients.

Utilization of technology for better coordination, marketing and client communication.

Effective communication with clients and among team members to ensure that everyone is informed and on the same page.

Accessibility and availability with a team provides someone being able to answer questions, respond to inquiries and show the property even with relatively short notice.

A collaborative approach with clients, offering suggestions and strategies rather than dictating actions or making decisions for the client.

A client-centric experience that prioritizes excellent client experiences to facilitate smooth processes and deliver positive results.

Support and guidance to help clients deal with the emotional challenges and stress often involved in the process.

Negotiation skills enable securing the best price and terms for the client, including issues that may arise during the escrow period.

Network and connections with other agents, potential buyers and industry professionals increase the chances of a smoother and better sale.

Concluding Thoughts

It is highly recommended that anyone thinking of selling or buying real estate carefully consider these factors when choosing their next real estate agent or team. Since a home is often one’s most valuable asset, who one employs to sell it can make a substantial difference in the financial results.

Michael Edlen and his team are available for complimentary consultations about residential or investment properties. They may be reached at 310-600-7422 or michael@edlenteam.com.

By MICHAEL EDLEN | Special to the Palisadian-Post

As of February 29, there were 69 single-family Palisades residences listed in the Multiple Listing Service, which is a 9% decrease from this time last year. So far this year 19 Palisades homes have sold, which is 24% fewer sales than last year’s first two months. There are currently 14 Palisades homes in escrow—a 33% decrease.

The median sale price per square foot has fallen by 20% as compared with the same period in 2023 and is now at $1,507 per square foot. The median sales price has decreased by 21% and is currently $4.35 million, as compared to $5.5 million a year ago.

Sales in the beginning of 2023 were unusually strong due to the interest rates being at near-historic low levels at that time. As a result, homes were selling for far more than was feasible during the same period this year.

The lowest-priced available home is a three-bedroom, two-bathroom on Tellem asking $1,995,000. The highest-priced property is a seven-bedroom, 11-bath on Casale Road, asking $49.95 million. The median list price for Pacific Palisades is now $6,895,000.

The lowest sale price so far this year was a four-bedroom, three-bathroom on Las Lomas, which sold for $1.98 million. The highest sale so far this year was a six-bedroom, eight-bathroom on Alma Real, which sold for $20 million.

There are 10 Palisades condominiums/townhouses on the market now, which is a 56% decrease in the level of inventory from this time last year. They range from one-bedroom, one-bathroom in the Edgewater Towers on Sunset Boulevard offered at $649,000 to a two-bedroom, two-bathroom condo in the same community offered at $2 million.

Only four condos are currently in escrow. There have been only two condo sales so far this year, ranging from a one-bedroom, one-bathroom on Sunset Boulevard, which sold for $500,000, to a two-bedroom, two-bathroom unit also on Sunset Boulevard, which sold for $1,565,000.

There are currently four pieces of raw land available, ranging from a 7,286-square-foot lot on Castellammare being offered at $1,175,000 to $14,995,000 for approximately six acres off Casale Road in the Riviera. So far this year, one lot sold—nearly two acres off Via Santa Ynez, which sold for $550,000.

There are currently 85 available leases in the Palisades, which is a 20% increase from this time last year. They range from a one-bedroom, one-bathroom on Sunset asking $2,600 per month to a six-bedroom, 14-bathroom home on Pampas Ricas asking $140,000 per month.

There have been 48 leases so far this year—30% more than this period last year. The highest lease so far this year was a seven-bedroom, eight-bathroom on Spoleto, which leased for $55,000 per month. The lowest was $2,700 per month for a two-bedroom, two-bathroom unit on Sunset Boulevard. The median leased price was $9,775 per month, up 15% from this time last year.

Michael Edlen, an agent with Coldwell Banker, has been keeping statistics on Pacific Palisades housing prices for the last 38 years.

By BRUCE SCHWARTZ | Contributing Writer

I have an interesting story to tell about a lifelong fellow Palisadian who is one of the smartest soil scientists and chemists I have ever met.

I ran across him in the San Joaquin Valley in the early 1990s. Agricultural consultants in the fertilizer business got around and were always in competition to be in the know to clients in the pre-internet days. There he was in the Crop Protection Services office, a large fertilizer company.

It was not until 20-something years later that I met him here in the Palisades in a coffee group. I did not realize he was the person I had met so many years ago.

After talking to other Palisades folk who grew up with him, it turned out that his family owned a chemical company and he had a line of fertilizer produced that he developed. As I started associating with him, I realized he was the same fellow that I met all those years ago.

His family was in the chemical business for many years. His name is John Atwill. He grew up in the Riviera.

His product line of plant nutrients, made in Los Angeles, are some of the finest products on the market—both for commercial and for consumer use. He has spent decades using the best practices of science and practical application in the field to develop and prove his products.

I had coffee with Atwill recently and he showed me the catalog of his products for the consumer (growmore.com). Their soluble fertilizer product line that he has developed over the years is really impressive.

Atwill and I thought about how fun and interesting it would be to work with the Palisades community and develop an advisory to residents who have questions about fertilizer for plants and gardens that could be helpful to the local gardening community.

What we would like to do is to help residents who are interested set up replications of treated and not treated applications of the products on different flowers and vegetables so that they can see the difference with their own eyes.

“Seeing is believing” really applies when working with fertilizer to see whether it is working or not by visual inspection. Seeing results in this way is rewarding.

This is what Atwill and I did for years, demonstrating to farmers whether a product worked or not on crops. Replicating test plots on large fields, treated and untreated, to see if it made a visual response and yield response, then collecting data.

I can tell you I had hundreds of test plots at USDA Agricultural field stations in the San Joaquin Valley, as well as grower clients, testing products on crops like cotton, carrots, potatoes, grapes and many others.

When it comes to prepping soil for this year’s vegetable garden, use the Lilly Miller Triple 16 along with composted chicken manure. Triple 16 and compost are a good pre-plant fertilizer.

With our fertilizer program, we are going to educate Palisadians on plant nutrition and have fun doing it.

Bruce Schwartz is a 24-year resident of the Palisades Highlands. He was an agricultural consultant for 20 years, specializing in soil nutrition for crops grown in the Central Valley. He was named Pacific Palisades’ Citizen of the Year in 2017 and a Golden Sparkplug award winner in 2013 and is a member of several community organizations. To reach Schwartz, call 310-779-1773 or email bruceschwartz@rodeore.com.