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Our Expert Panel On the Ins & Outs of New Construction

by | May 10, 2023

The Agency’s industry-leading new construction experts came together for a wide-ranging panel discussion that covered the ins and outs of the building process. Featuring Managing Director of The Agency San Fernando Valley, Dennis Chernov and moderated by Managing Partner of The Agency Sherman Oaks, Studio City and Calabasas, Craig Knizek, the esteemed panel expounded on several topics throughout the event; from how they found properties for developers and got involved with design and pro forma market research to advice for pre-marketing or pre-selling properties, how they had each secured acquisition properties for development and (of course), what it takes to successfully roll out new construction listings. 

Hosted at a stunning, newly constructed Modern Spanish estate at 23401 Mulholland Highway in Calabasas, the event was attended by more than 70 agents from brokerages around the region. Spanning more than 11,000 square feet on nearly five acres, the newly completed estate features far-reaching hilltop views, a pool, lawn, sunlit living spaces and is represented by Billy Rose, Craig Knizek and David Smith.

Having sold more than 580 new construction homes in the San Fernando Valley, Dennis Chernov has established himself as the pre-eminent real estate professional for marketing and selling new construction properties in the Valley. During the discussion, Dennis shared some of his personal strategies when it comes to new dev projects; how he focuses on the potential inventory and studies the “exit” comps. But, most of all, Dennis attributes his success to the commitment of his developers to profitably succeed with the projects that he brings to them for development.

“I invest fully in my relationships with developers,” said Dennis. “We have an honest and respectful report that allows me to trust in them, and them to trust in me.”

Dennis also touched on the highly competitive landscape of new development listings and the tactics they use to secure them. They also discussed how to negotiate commission and price a newly built home. Additional topics broached included lease options, construction lending and key details of pre-selling contracts.

“The Agency was founded on a principle of sharing our expertise and collaborating with each other to adopt best practices,” said Craig. “I know Dennis to have a keen command of all aspects of new construction and knew that other agents would greatly appreciate hearing him share his knowledge and experience.”

“It is so gratifying to see a rapt audience of agents paying attention to the conversation,” Noted Derick Vallance, Regional Manager of The Agency’s San Fernando Valley offices. “Everyone there was engaged and posed really thoughtful questions to the two speakers. There were a lot of great takeaways.”

Stay tuned for more updates on The Agency’s connective and informative speaker events.

(Lead image: Exterior of 23401 Mulholland Highway)

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