A new kind of deal for our brokerage

Today, one of the clients of our brokerage is closing on a really interesting fourplex deal.

The minute I saw this one on the MLS, I liked it… it’s big, (mostly) non-rent controlled, in an interesting area, on a large lot (so plenty of parking and outdoor space), etc.

The reason I’m writing about it today, though, is that it may mark the beginning of a new phase in our brokerage.

Up to now, there has been a line between our fee-for-service business (where we are paid cash fees to consult on the repositioning of apartment buildings) and our brokerage.

Of course, our agents have always advised clients on how to improve their buildings, but we have not had a formal means by which our development business could step in and actually carry out those suggestions.

This deal is the first one we’re doing where our agent sold the property to a client on the basis that Adaptive would carry out the repositioning of the building post closing. Good for the client, good for the agent, and good for Adaptive.

This, of course, opens up a whole new vista of deals for our agents and their clients. For a client with sufficient resources who works with one of our agents, almost any building, in any part of LA, can be made awesome, with minimal hassle.