At the pinnacle of luxury real estate stands ‘Hyland Honoree’ Stuart Vetterick, a distinguished Broker Associate at Hilton & Hyland/Forbes Global Properties, synonymous with Los Angeles’ landmark sales. Having orchestrated monumental transactions, including “The One” and numerous other nine and ten-digit deals, Vetterick offers unparalleled insights into the future trajectory of high-value property sales.
In this exclusive Q&A session, superagent Vetterick reveals his forecasts for the upcoming wave in real estate transactions, discusses his strategic methods for serving clients and colleagues, and imparts invaluable wisdom for those aspiring to thrive in the luxury real estate arena.
Hilton & Hyland: After the sale of “The One” and the other 9-digit sales, what are some possible sales numbers we could see in the next 3–5 years?
Stuart Vetterick: We are going to see a single property sale of $200mm or more in the next few years, both here in Los Angeles and in other major gateway cities. For LA, the key reasons are local development restrictions, the effects of higher inflation costs for material/labor/cost of borrowing, and a general scarcity of existing trophy assets. Of course, the weather will continue to drive people to want to own a place here in paradise.
The One, Bel-Air. Sold. Stuart Vetterick Represented buyer. Photo Credit: Marc Angeles.
HH: As a top agent at Hilton & Hyland/Forbes Global Properties and in Los Angeles, what insights do you aim to bring to your clients and colleagues?
SV: We have the unique opportunity to represent clients in one of the most important financial decisions of their lives. Since the residential market is constantly evolving, it is necessary to try to be aware of anything that could have a positive or negative impact on the residential market at the local, state, or national level. The sources that provide me with the best information are my network of real estate agents, both in and out of the office, my close connections with title and escrow, and various news publications.
HH: What advice would you give to aspiring real estate professionals looking to excel in the luxury market?
SV: There’s an old saying, you have to learn to earn. If you want to be the best, you have to know what the best know. Focus on really learning an area (or areas) well, what drives demand, why certain blocks drive for higher value, what areas are undervalued, and know what homes will be coming to the market, pocket listings, and off-market properties. Make it your goal to be an “in-house” market expert in your company or the industry. If you are an expert, you will become directly or indirectly involved in that market. That takes a lot of time and dedication, but those who are willing to do it will steadily rise. Furthermore, study and try to surround yourself with the best agents who inspire and influence you to become better.
21606 Pacific Coast Highway, Malibu. Available For Lease. Represented by Stuart Vetterick. Photo Credit: Tyler Hogan.
Q: Is there a current property on the market that stands out to you?
SV: Absolutely. 21606 Pacific Coast Highway in Malibu is an extraordinary combination of architectural quality, style and character. This property is a rare find on Malibu’s highly coveted La Costa Beach. Situated on an oversized 60′ wide lot, boasting truly exceptional details and privacy rarely found in Malibu beach houses. The layout effortlessly adapts and accommodates anything from a quiet weekend with a loved one to a full house of family and friends. Perfect for entertainers, the primary bedroom suite is a dream oceanfront retreat with fireplace and separate office/den. A truly exceptional and very special property.
Vetterick’s perspective takes on the dynamic world of luxury real estate. As he forecasts the inevitable rise of $200 million-plus property sales and underscores the significance of market acumen and continuous education, Stuart serves as a beacon of inspiration for both seasoned professionals and aspiring agents alike. With his insights guiding the way at Hilton & Hyland/Forbes Global Properties, we gain a deeper understanding of market trends and the tools and strategies needed to navigate and excel in the ever-evolving landscape of luxury property transactions.