''If you have a 10-year time line, Los Angeles real estate is generally a good investment.''
An Interview with Michael Repka
CEO and General Counsel, DeLeon Realty
Our interview with MICHAEL REPKA, Chief Executive Officer and General Counsel at DeLeon Realty, showcases one of Silicon Valley’s pre-eminent firms delivering exceptional customer service and superior value within the neighbourhoods of Palo Alto, Menlo Park, Atherton, Mountain View and Los Altos, through a unique new business model that reduces conflicts of interest. Executive Global discusses luxury real estate and the DeLeon difference with the number #1 real estate team in Northern California.
Executive Global: Tell us about DeLeon Platinum and how you serve the needs of high net worth clients in the luxury real estate market?
Michael Repka: We fully stage our houses at no cost to our sellers and market them extensively via television commercials, multiple magazines and newspapers, and extensive international marketing.
EG: Being the number one real estate team in Northern California due to your business model what would you say it is that makes your approach so special?
MR: Among many other things, we never take a commission from both sides of any transaction. We also offer access to lawyers at no additional charge.
EG: What unique advantages do clients gain by having access to one stop shop brokerages with attorneys, tax advisers, and real estate professionals working diligently under one roof?
MR: An integrated suite of professionals to collaborate with, at no additional charge to the client, results in a far more comprehensive and stress-free transaction.
EG: Talk about the particular benefits posed to buyers with your ethical commission structure?
MR: Buyers who prefer to work without an agent, or to utilise a DeLeon Realty buyer’s agent, will have a 2.5% advantage over other buyers. Nevertheless, they will still receive comprehensive, professional advice.
EG: What is your experience working within the luxury real estate sector taught you about the importance of quality customer service?
MR: Quality customer service is exceptionally important. Buyers in this price range stay in the best hotels, fly first class or privately, and drive luxury cars. They are used to the very best in customer service. It is our obligation to deliver an experience consistent with the other facets of their life.
EG: DeLeon is known for being generous to employees. How important is it to ensure staff members remain motivated and how may this affect overall profitability in Silicon Valley real estate?
MR: Our success comes directly from the quality of our people. That is why we pay above-market salaries, pay health insurance, paid vacation, and even take our employees and their spouses on weeklong vacations.
EG: As an NYU Law School-trained attorney specialising in taxation, what future opportunities do you see on the horizon for real estate investors?
MR: In high-end real estate, there are often tax structuring opportunities, or legal pitfalls, that are simply missed by agents who lack the legal or tax training. We believe that clients deserve a higher level of representation than is typical in the real estate industry.
EG: With several wonderful testimonials, what can affluent clients expect when having their properties represented by you?
MR: Quite candidly, our clients expect that every facet of the transaction will be at a level that is the best in the industry. We make less money per transaction than other agents or teams, but the quality of our work, and the prices we achieve, attract a lot of people to us. EG