A Palos Verdes native, Michael Majid has worked as a Realtor for more than 30 years. He started in commercial real estate, working at his father’s brokerage. He switched to the residential side and in 2016 joined Vista Sotheby’s International Realty, where he has been a consistent top producer. Michael graduated from Palos Verdes High School and earned a degree in business administration from the University of Southern California. He holds the designation of Palos Verdes Specialist and resides there with his wife and two children. He is an honorary member of the Long Beach Police Officers Association.
What is your agency known for?
“We are known for having some of the most experienced and dedicated agents who provide exceptional personalized service and local expertise to help our clients achieve their real estate goals.”
What are key factors for finding a good fit when choosing a real estate agent to work with?
“I think there are three key factors to consider when choosing your agent. First, the agent must be an area expert who can share the nuances of a particular location and what makes it more desirable and/or valuable. Second, that agent must have experience and a good reputation. They need to know how to strategize and overcome challenges quickly, be creative in a competitive market, be respected by their peers so your offer gets accepted, and take all the unnecessary stress off you.
Third and most important, the agent needs to really understand you and your needs. After the second or third meeting, you should have connected with your agent on both a personal and professional level. If you haven’t had that connection, you need to move on immediately. When you find that level of comfort with your agent, it’s no longer transactional—you’ve developed a relationship where they become invested in the successful sale of or search for your home. They want the best for you and will fight for you tooth and nail when it’s the right home.”
Speak about the level of flexibility required to be successful in the real estate industry.
“Today’s clients have demanding lives and schedules. They expect their agent to cater to their schedules. If a client needs to see a property now or wants you to get them information immediately, you have to be able and willing to make that adjustment to your personal and professional schedule. We are in the customer service business, and flexibility is key to being of value.”
What do you love most about your job?
“Developing relationships with my clients and making lifelong friendships is something truly unique about this business. It’s an amazing feeling to hand over the keys to my buyers’ new home or when I get my sellers the price they wanted on their house.”
Have you seen a recent increase in first-time home purchases? What about multifamily real estate purchases?
“First-time homebuyers seemed to triple in 2021. It was clear that people were taking advantage of the historically low interest rates before they were gone. With the changes in the state rent control laws, I was surprised to see multifamily housing purchases rise rather than fall as anticipated.”
Do you anticipate a time that every property will feature a virtual home tour?
“Absolutely! The pandemic shifted the paradigm on how people search for a property altogether. While virtual home tours will never replace in-home viewings, I think there is a natural progression for consumers who want more content as well as instant gratification to see whether a home fits their style before deciding on the next steps.”
What do you predict will happen with mortgage rates in 2022?
“Although the Federal Reserve has indicated that interest rates are likely headed for multiple increases throughout the year, they will probably remain small—which will keep interest rates low overall and continue the consumer housing demand. The Fed has indicated its need to get control of inflation quickly and has discussed the need for rate increases throughout the new year, which will help with a more reasonable growth in the market.”
Do you think home prices will continue to soar in 2022?
“Yes, but with a caveat. The unprecedented growth we have seen in 2020 and 2021 will continue into 2022 at a more reasonable pace. However, it is likely that the record increases in property values year-over-year will begin to taper off and plateau toward the third and fourth quarters of 2022, leading to a stabilization in home price affordability. It must be noted that consumer demand will remain high because rates will still be very attractive (even with any increases during the year) and a lack of inventory will remain. Overall, my outlook for the 2022 real estate market is bullish.”
Do you involve your family in your work?
“Although my children are still too young to fully bring into my business, I do have them help out from time to time. They are great neighborhood ambassadors and help with passing out flyers for my listings. I would love it if they came to work with me when they graduate college, like I did with my father.”