Most brokerages never make a generational transition, and according to RealTrends, more than 50% of all brokerages are currently for sale due to this. However, Michael Nournmand, and the Nournmand family, have successfully upended these statistics by running a multi-generational real estate brokerage in Los Angeles - one of the most competitive markets in the US.

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Eric Stegemann (00:02):

Hi everybody. And welcome to Brokerage Insider the podcast where we interview the leaders in real estate and technology today, I'm very fortunate to be joined by Michael Nourmand. He's the president of Knorr modern associates, an independent real estate brokerage in the LA area. Michael, thanks so much for joining us.

Michael Nourmand (00:22):

Thanks Eric. It's a pleasure to be on a, on the podcast.

Eric Stegemann (00:25):

Great. Well, I'm excited to ask you some questions about the market and how things are going, but first, before we do that, why don't you tell us a little bit about yourself and I know your family history in the, in the real estate business. And tell us a little bit about that and how Norman and associates got started.

Michael Nourmand (00:43):

So I was born and raised in Los Angeles, went to local schools, graduated from USC. I was an undergrad business major, and I always liked being around people. I would say that the people, part of the business, the social aspect was what initially caught my interest. My parents would talk real estate at the table. My siblings thought it was boring. I thought it was interesting. I wanted to kind of know how the deals were going to come together. Even kind of for my apartments, but when I turned 13, the theme of the party was monopoly. So it was definitely something that, yeah, we still like something that, that peaked my interest. And then when I was finishing at USC, I had already gotten my real estate license and had closed a couple of deals. And once I got my first taste, I was hooked and the rest was history.

Eric Stegemann (01:35):

So you started selling real estate to him while you were in college?

Michael Nourmand (01:39):

Yeah, I closed my first deal. I think I was either 20 or 21, but I pretty sure I was 20 when it, when it closed.

Eric Stegemann (