Real estate startup targets high-end market

Industry veterans set up shop in Beverly Hills

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Southern California is recovering from a series of wildfires while its housing market is in a dive and a credit crisis threatens to deepen the crater. You might think that’s a recipe for disaster for a startup real estate brokerage company.

But the high-end luxury market is a unique beast. And Lou Piatt, an industry veteran who is co-founder and CEO of a new real estate brokerage firm, Teles Properties, said he believes this new company will thrive despite the slowdown.