R
eal estate agents in Los Angeles are working around the clock to help clients, friends, and strangers affected by the devastating wildfires. "I'm a public servant at this point," says Juliette Hohnen of Douglas Elliman. "I have to help whoever I can." With an estimated $250 billion in economic loss and 75% of properties in Pacific Palisades destroyed, the task is daunting.

    Agents like Carl Gambino of the Gambino Group are coordinating with other brokers to provide available rentals and homes for those displaced by the fires. Viewings have become packed affairs, with victims trying to find houses already on the market to purchase. Some agents, like Tomer Fridman of The Fridman Group, are holding showings late into the night to help clients.

    To increase inventory, brokers are reaching out to wealthier clients with multiple homes, asking them to provide access to their properties for rent or sale. "I'm suggesting they go live in their house in Palm Springs or Palm Beach," Hohnen says. "I'll rent it." Many clients are responding, eager to help.

    However, some opportunists are taking advantage of the situation by illegally boosting rents, especially in safer neighborhoods. Realtors are dismayed by this behavior and fear that it will worsen the already low-inventory market. According to agents, many displaced residents are looking for homes in Brentwood, Bel-Air, Beverly Hills, western Malibu, and Manhattan Beach.

    For those who choose to rebuild, brokers foresee a multiyear process. They voice concerns about insurance claims being honored, especially in beach areas where homes are traditionally under-insured. "Our insurance system was broken before these fires," says Aaron Kirman of AKG | Christie's International Real Estate. "And they're really going to have to figure this out because Los Angeles deserves to be insured."

    Homeowners who survived the fires are being advised by brokers like Sandro Dazzan of The Agency to be more vigilant about safeguarding their homes. This includes having defensible space, using fire-resistant materials, and installing fire suppression systems. "We're here to support our clients," Kirman says. "We're here to help rebuild communities."