Q&A: Dave Osman

By JACQUELINE PRIMO | Reporter

Dave Osman, vice president and branch manager for Sotheby’s International Realty’s Pacific Palisades and Santa Monica brokerages, has been a professional in the industry for 38 years and has personally overseen more than 18,000 transactions valued at more than $9 billion. From humble, hardworking beginnings in Chicago, Osman has brought his affinity for all things real estate to the crystalline coast of Southern California and the quaint small-town feel of Pacific Palisades, with top sports, business and entertainment industry figures among his clients.

Jacqueline Primo: What was your upbringing like?

Dave Osman: I was raised in the suburbs of Chicago as the oldest of six children. My father worked day and night to feed us, and my mother had to be a multi-tasker. I played football, wrestled and was on the track team. I was also president of the school band, served on the school council and was president of my senior class.

Primo: What was your first job?

Osman: My first job was while I was still in grade school as a carpenter for my father, who was a custom home builder.

Primo: How did you get into real estate?

Osman: Pure chance. I was bartending after college, not having any direction. I knew I needed a new career, and a woman I met at the bar suggested I take a real estate course.

Primo: Do you live in the Palisades?

Osman: My wife and I used to live in the Palisades, but now we reside in Westlake Village, by the lake.

Primo: How is the Palisades real estate market being affected by developer Rick Caruso’s Palisades Village project?

Osman: Since the announcement at Palisades Charter High School, there has been a palpable excitement about what will come. I know demand and prices have escalated a bit more than this strong market has mandated, especially for properties within walking distance of the Village.

Certainly, this will crescendo as the development nears completion and beyond. The “Silicon Beach” effect will also magnify the desirability of the Palisades.

Primo: What trends do you see in real estate currently that you anticipate going away in the next 10 years? (Think: What is the “green shag carpet” of today?)

Osman: Bamboo floors (too soft), draperies (hold allergens and dust), incandescent lighting (costly to maintain over time), non- “smart home” devices or controls.

Primo: Who is the typical homebuyer in the Palisades right now?

Osman: First and foremost are builders and developers as they are desperate for lots to build on, and then young couples and families, predominantly, who prefer the new or newer homes.

International buyers are still discovering the Palisades and the Caruso development, once complete, will attract even more of their attention.

Primo: Do people go from one house to another in the Palisades often, or do buyers tend to live for a long time in one home?

Osman: Many have lived in their homes for a long time. Who can blame them? It’s hard to beat the Palisades.

When my wife and I purchased our home in the Palisades, the seller (a high-up at the South Coast Air Quality Management District) told us at the final walk-through that he had bought the home many years prior because [the Palisades] had the cleanest air in LA. The topography and prevailing winds were largely responsible, he explained.

Primo: Over your 40 years in the real estate industry and throughout your more than 18,000 transactions, what are some transactions that stand out to you?

Osman: Here are a couple of memorable ones. I sold five houses one Sunday to a young man who walked into my office looking to buy one home (this was in Chicago, circa 1976). He had just sold his business, had a good chunk of cash and I introduced him to the concept and power of leverage. He was very excited, and he later sold all five homes for a nice profit.

We had one home for lease and when a prospective tenant came to view it, his agent informed me his client was a significant porn star. It turned out he was huge.

Primo: Since you have been in the industry for so long, what are some things you still find challenging about being a real estate professional?

Osman: I no longer list or sell, as I will not compete with my agents. However, I share my amazing agents’ joy and pain daily. For them, the challenge is the intense competition created by the shortage of properties to sell in the current marketplace.

It’s a business with many emotional swings, part of the territory of working on a commission basis only. Not for the faint of heart, but for those disciplined, driven individuals who thrive on reward being tied to effort, it can be very satisfying.

Primo: What are five things you love most about the Palisades?

Osman: The ocean, the hometown feel, the Village and parks, the beautiful homes and neighborhoods, and the proximity to all the great things the Westside offers.