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David Parnes Shares How the COVID-19 Outbreak Has Changed His Real Estate Business
"It’s all about adapting," says the Million Dollar Listing Los Angeles broker.
After breaking six real estate records last year, David Parnes and his team were ready to walk into 2020 stronger than ever. Now, amid a global pandemic, the Million Dollar Listing Los Angeles broker is even more determined to continue his success in business.
"We’re using this period to be creative and think outside the box. That’s what we’ve always done. That’s how we’ve always tried to separate ourselves from everyone else: by coming up with new, fresh ideas," David told BravoTV.com exclusively. "The whole coronavirus [COVID-19] situation has just given us another incentive and reason to get more creative and sometimes go back to basics."
"I think that every cloud has a silver lining. What we’ve done as a team is we've adapted, we’ve been creative, and we’ve kept going," he continued. "Right now there are opportunities for buyers and for sellers. There are opportunities for marketing and promotion. It’s all about adapting. Life changes. We’re always presented with new situations and curveballs thrown at us and I think it’s not just survival. It’s about thriving, not just in the good times, but in the difficult times as well."
While the team's new processes, including Instagram Live property tours and showings via FaceTime, have been proving successful, David noted that sales take on a deeper meaning given the current global circumstances. "We’re getting to help people. We’re getting to put people in their houses. Especially if they’ve been living in a condo or an apartment and they want to get out and have more space for themselves, to be able to help facilitate that, to put their minds at ease, and get them relocated and more comfortable is hugely rewarding."
Amid the pandemic, David is working on a listing that he calls "a once in a generation, if not a lifetime, opportunity": the Park Bel Air, currently listed for $125M. With 10.6 acres of land, the property, located directly across from the iconic Hotel Bel-Air, allows for immediate construction of up to three fully planned 60,000 square-foot residences (see below for a photo of the park as well as approved renderings of the potential homes' exteriors!).
"I think it’s just a really, really good opportunity and a piece of real estate that’s probably never going to come up again in our lifetime," David explained. "It comes down to the location, the size of the land, and all the opportunity [to build] there. It is a big price, but the upside potential and the opportunity is huge."
For the right buyer, the listing is coming at an especially interesting time, David noted. "If someone can afford it, I think it presents a really unique opportunity. Not just from an investment perspective, but from a lifestyle perspective, during and post-coronavirus," he said. "Los Angeles has amazing weather year round, so if someone’s quarantining, what better place to quarantine than in your own park?"
"I really genuinely believe in it," he continued. "I can’t afford it, most people can’t afford it, but if someone can afford it, they’re getting an incredible opportunity with an amazing lifestyle: your own park opposite the Hotel Bel-Air."
For more information on the Park Bel Air, click here.
For the latest, most accurate information on the coronavirus pandemic, go to the World Health Organization (WHO) website.