Whereas finding out legislation at UCLA, Syd Leibovitch stumbled into actual property making an attempt to earn some further money. And after promoting only a few houses, he rapidly grew to become hooked on the occupation and ditched legislation faculty plans.
Following commencement, Leibovitch went on to work for just a few big-name brokerages of the time, together with one which merged with Coldwell Banker, when he determined the bureaucratic life was not for him and it was time to start out his personal firm. Leibovitch based Paramount Properties, a enterprise that later advanced into Rodeo Realty, in 1986 on the age of 25. In the present day, the corporate stands as one of many largest impartial residential brokerages in California, working 12 workplaces and with its fingers in roughly 5,000 transactions a 12 months.
Leibovitch sat down with the Enterprise Journal to debate his profession, what’s it like working an impartial agency and firm development plans.
Rodeo Realty has 1,200 brokers spanning Los Angeles, Ventura and Orange counties. What’s it prefer to oversee all of it?
It’s very rewarding. Now I’ve the kids of some brokers working right here. I’ve watched them develop up and now I see them promoting actual property. I’ve seen individuals go from nothing to doing rather well. It’s all the time a problem. I like dealing with the tougher offers. I like motivating and making an attempt to get individuals to grasp that they’ll get to the following stage in the event that they consider in themselves and observe a program. I like to think about myself extra like a coach than a enterprise proprietor.

Are you continue to promoting actual property?
Again within the day, the agent didn’t need an proprietor that was competing towards them. So I decided to cease promoting (round 2010). I used to be one of many prime brokers right here, however I decided to cease promoting and give attention to working the corporate. However I’m seeing a brand new breed now. A brand new philosophy the place a few of these folks that do personal these firms are promoting actual property and the brokers appear to love it. I’ll do some offers, however they’re largely higher-end offers.
Inside Los Angeles, which neighborhoods are you most keen about, and why?
No matter my purchasers are on the lookout for, I simply love the homes which might be the appropriate homes in that worth vary. I imply, who’s not passionate a couple of $100 million home in Bel Air, Beverly Hills or Holmby Hills – which might be the realm that I do know finest lately – however I’m actually aware of many areas as a result of we’ve brokers throughout. I’m keen about all actual property.
You’ve supervised greater than 150,000 actual property transactions. Does one stand out to you?
I’d say the primary residence I offered after I was in faculty needs to be one in all them. I used to be 22 and I used to be capable of present a younger couple (some) houses. After seeing 10 or 15, they selected one. It was a colonial on a big lot with a view and pool. When the escrow closed, I met them on the home and delivered the keys and a microwave oven that I purchased them as a housewarming reward. The spouse was pregnant, and he or she gave me the most important hug and stated, ‘I by no means imagined proudly owning a house like this!’ That’s what offered me on actual property. I knew instantly that I had discovered a occupation for all times.
One other residence that I offered was a 7,000-square-foot residence. The client had lately gone by a divorce. He was in a brand new relationship with a woman whose husband had handed away. I offered each of their houses and offered them the 7,000-square-foot residence. After I met them to thank them and convey the keys and a present, he stated, ‘I not solely obtained a terrific home, I made a terrific good friend!’
In fact I’ve been concerned in houses which have offered for $62 million, $70 million, $94 million, but it surely’s gross sales like the 2 above which were essentially the most rewarding. I’ve met so many nice individuals and have tons of of shut relationships. I couldn’t be extra proud to be an actual property agent.

What’s it like working an impartial brokerage? How does Rodeo Realty set itself aside from its larger opponents?
I feel the distinction is that I’m an actual property particular person. I grew up promoting actual property. I’m used to working with patrons and sellers, and I’m not asking anyone to do something that I haven’t finished myself. I feel I’m in a novel place over these different firms as a result of they’re run by sensible individuals – a lot smarter than me, MBAs from Harvard and stuff and so they ran enormous firms – however they by no means sat in an open home and offered houses and confirmed property and labored with purchasers. It’s onerous to know the way one thing is till you’ve finished it. All the pieces we do right here is with that in thoughts.
This can be a unhappy time in actual property. It’s a tragic time in every little thing. Companies are out the window. These actual property firms have in the reduction of a lot on employees and advertising and promoting that there’s simply little or no assist for these individuals. They usually purchased all the businesses that have been supportive to attempt to get them out of {the marketplace}. Do we actually all must work for an enormous company? They do every little thing they’ll to cease me. They hate me as a result of I’m standing of their means.
Given the variety of high-profile agent strikes we’ve seen recently, how do you appeal to and preserve expertise?
I feel it’s important to take nice care of them. It’s important to have a number of employees, a number of service, and it’s important to care. And I’m very lucky as a result of I had three prime brokers that left. Two have come again and one we’re going to announce is coming again subsequent week. We’ve been very lucky; we very hardly ever have individuals go away.
Do you have got any plans to increase into different markets or open further workplaces?
Sure, we’re actually on the lookout for alternatives to increase. Proper now, all people is closing workplaces and slicing again. I’m form of hanging in there, however I’m on the lookout for alternatives.
I’d actually like to increase to the Newport Coast. I’d like to increase to the Pasadena space. I’d like to increase and open one other workplace within the South Bay space (and perhaps) Palm Springs. I don’t wish to go thus far that I can’t oversee it.
What’s subsequent for Rodeo Realty?
We wish to continue to grow slowly in order that we are able to proceed to ship every little thing that we promise. It’s our job so as to add worth, to assist take our brokers’ careers to the following stage and to guarantee that our purchasers are getting the perfect service that may be potential.
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