Special Report: Residential Real Estate Agents – Architectural Approach

Drew Fenton is the chief executive and co-founder of the Carolwood Estates, which launched last year. Prior to starting the company, Fenton worked at Hilton & Hyland. 

During his career, Fenton has done more than $6.5 billion worth of sales including the Chartwell Estate, which sold for $150 million in 2019. He has sold more than 70 properties for more than $20 million each.

Fenton spoke with the Business Journal about his interest in real estate and the rise of interest rates. 

What got you interested in real estate?

I have a great respect for architecture and design. Having grown up in Los Angeles, I remember going to school and driving by major estates in Holmby Hills thinking, “Who lives there? What does it look like inside?” Today, I know both.   

How was 2022 for you? How did it compare to other years?

2022 was a year of growth and expansion.

Was it a buyer’s or a seller’s market?

Both.   

Were there any major surprises
last year?

The unexpected rise of interest rates.

What are your expectations for 2023?

Los Angeles is the only city in the world with gorgeous weather year-round. Our lifestyle will only continue to draw buyers from all over the globe.

Has Measure ULA, also known as the mansion tax, impacted the way people are viewing real estate? Do you anticipate it doing so this year? 

Too early to tell.

— Hannah Madans Welk