Dennis Chernov is one of the top producing agents at The Agency, a Beverly Hills boutique brokerage firm.
Chernov, who specializes in luxury home sales in the San Fernando Valley, joined The Agency in 2022 after 13 years at Keller Williams Realty Studio City. Last year, he sold over $330 million worth of homes in L.A.
How did you get your start in real estate?
I entered the world of real estate at just 16 years old as a telemarketer for a lending company. I quickly grew into a top loan officer and, by the age of 20, I was running a large mortgage brokerage.
When the 2008 recession hit, I transitioned to Keller Williams full-time as a real estate agent, embracing the challenges of the market and solidifying my career.
Within Los Angeles, which neighborhoods are you most passionate about and why?
Having grown up in the Valley, my heart is truly here. I specialize in neighborhoods like Studio City, Sherman Oaks and Encino, along with the surrounding areas. These communities have an incredible mix of charm, luxury and livability, making them some of the most desirable in Los Angeles.
What excites you most about a home?
A home is more than just a place to live – it’s where life happens. It’s where families gather, where memories are made and where every day begins and ends. Beyond that, I have a deep appreciation for new developments.
How did 2024 compare to other years for you?
The 2024 Los Angeles real estate market was a blend of challenges and opportunities. High interest rates, Measure ULA, low inventory and uncertainty surrounding the elections all played a role, yet the market remained resilient.
Turnkey properties continued to sell quickly, while modern and new-construction homes in Sherman Oaks, Encino and Studio City saw strong demand. In the luxury sector, high-end homes in Beverly Hills, Bel Air and the Westside moved – though only when priced correctly.
Overall, 2024 was a dynamic and competitive year, (in which) pricing strategy and marketing were more crucial than ever in achieving a successful sale.
It’s been almost two years since Measure ULA first went into effect. How would you say it’s impacted the landscape of Los Angeles real estate?
Measure ULA has significantly reshaped the Los Angeles real estate market, particularly in the luxury and new development sectors. We’ve seen a noticeable slowdown in high-end sales as many luxury homeowners and investors have opted to delay selling or structure deals creatively to minimize tax exposure.
The impact on new construction has been just as pronounced – many developers have pivoted to smaller projects under $5 million or are shifting their investments outside of Los Angeles. The overall effect has been a reduction in high-value transactions and a shift in how deals are structured in the city.
Have the recent Palisades and Eaton fires impacted your personal portfolio? Are you seeing a rise in sales or leases because of them?
While our listings are primarily based in the Valley and the Westside, meaning we weren’t directly impacted, the recent fires have certainly caused market shifts.
There has been a surge in lease activity, with displaced homeowners urgently seeking housing. Additionally, some buyers are now prioritizing properties in lower-risk areas, which has driven demand in safer neighborhoods.
The fires have reinforced the importance of location and environmental considerations in today’s real estate decisions.
What are your expectations for 2025?
I anticipate 2025 will remain a competitive market, with shifts influenced by economic and environmental factors. For sellers, the outlook remains positive but strategic pricing and marketing will be more important than ever. If the Federal Reserve lowers interest rates, we could see a wave of buyers reentering the market, increasing demand. Additionally, with wildfires displacing homeowners, we may see heightened activity in both the rental and purchase markets.
What’s your favorite part of being an agent?
Without a doubt, winning for my clients. There’s nothing more fulfilling than negotiating the best deal and making their real estate dreams a reality.
Beyond that, it’s the relationships I’ve built along the way. Real estate isn’t just about transactions – it’s about connections, trust and lifelong partnerships. That’s what makes this career so rewarding.
