The luxury real estate market in Los Angeles ranks as one of the most fiercely competitive in the world, with firms large and small all vying for top listings in coveted locations.

Yet real estate developers looking to get the word out about a glossy new home listing or gleaming condo tower are increasingly turning to one man: Alexander Ali, a veteran entertainment industry executive who has turned his artistic eye to real estate.

“I grew up idolizing Hollywood so I market high end properties like a high-budget Hollywood film,” the 34-year old Mr. Ali says from his light-filled office in West Hollywood. He says he gets involved in a project a few months before the property hits market and devises everything from titles, movie trailers, and premiere events. “We’ve applied the same tactics used for launching a Hollywood film to these multi-million dollar properties and it’s carved a new path on how to get buzz to sell the home off market and get international exposure.”

 The CEO of Society Group, the lifestyle and real estate public relations firm he founded in 2013, Mr. Ali is in many ways the perfect fit for a city long idolized for its glitz and glamour. Blending the worlds of art, architecture and interior design, he’s managing to reshape the way we think about marketing luxury real estate in Los Angeles.

The numbers tell the story of his success: Society Group has helped sell more than $250m in real estate since 2015, company figures show. They represented Hilton & Hyland on The Playboy Mansion which fetched $100m, and the firm is currently marketing a range of sprawling LA projects, including Nile Niami’s Opus, the nine-figure spec home perched above Los Angeles and The One, a 74,000 square foot mansion in Bel Air with a $500m price tag.

 Some of the company’s success is also coming in LA’s expanding condominium market where a record number of projects are being developed. The firm is currently marketing inside Beverly West Residences, a posh new development on the famous Wilshire corridor. In Downtown LA, more than 2,500 new condo units were under construction and more than 6,000 new residential units were proposed in the third quarter of last year, according a market report by the city’s Downtown Center Business Improvement District.

Prices for new developments are also rising. Average price per square foot was $1,095 by the end of 2016, a 14% increase from a year prior, according to appraisal firm Miller Samuel.

 

Courtesy of: Forbes and Troy McMullen