LA luxury market is strong and brokerages are expanding

Several firms in expansion mode plan to close more than $1 billion in transactions this year
  • Gibson International considers itself the market's first "invitation-only" brokerage.
  • Gibson and John Aaroe Group are some of the market's biggest luxury players.
  • Pacific Palisades entered this year as a standout luxury submarket.

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The strength of Los Angeles' luxury market has influenced some of the city's most prominent luxury brokerages to expand this year. Karin Hildebrand Lau / With plans to close $1 billion in luxury sales, transactions valued at more than $3 million, Gibson International will introduce a Santa Monica office this spring and continue to grow its network of brokers. "We also have our eye on some key luxury markets in the Valley, as well as east of Beverly Hills," said Scott Gibson, president and CEO of the luxury brokerage. The seven-year-old firm currently has roughly 150 agents, with offices in the luxury markets of Brentwood, Pacific Palisades and Marina del Rey. Dubbing itself as Los Angeles' first "invitation-only" brokerage, Gibson is also looking to up its marketing game. The brokerage recently appointed a new, locally-based PR firm, Murphy O'Brien Inc. The firm will be utilized to market the individual transactions of certain agents and highlight ...