August 16, 2025
Randolph’s long sales process is indicative of a depressed housing market
Memphis Grizzlies legend Zach Randolph has finally sold his sprawling Los Angeles mansion, closing the deal after pulling it off the market once and slashing nearly $1 million from the asking price.
According to Realtor.com, the 17-year NBA veteran sold his home on Aug. 7 after it spent 11 months on the market, but he first listed the 8,500-square-foot home for sale in September 2024 and each time he took it off the market, it was relisted for a lower price.
The six bedroom, 10 bathroom home is part of the celebrity-laden Amestoy Estates community, and was custom built to Randolph’s specifications, including a fortified concrete exterior, floor to ceiling windows, a sauna, a gym, a basketball court, a home theater, a library, a full bar, and a panic room which also has a vaulted door.
In order to facilitate the sale of the lavish mansion, Randolph enlisted the services of Distinct Concierge, a firm specializing in sports and entertainment real estate, and the sale was managed by the family that owns the business, Rod Watson, Laura Watson, and their daughter, Renecia Watson.
The family-run outfit sold the mansion to a high-level energy company mogul, on behalf of Randolph. The unnamed buyer is moving from Houston to Encino, California, a source confidentially revealed to Realtor.com.
According to Rod Watson, the firm’s CEO, “We were entrusted with this listing because of our track record as proven real estate advisors for NBA and NFL professionals who value discretion, strategy, and results. Our team understands how to position luxury estates like this in a way that speaks to elite buyers.”
Watson continued, “We leveraged cutting-edge AI video content and targeted digital marketing to spotlight the home’s most compelling features, and that strategy paid off. The estate captured serious attention early on, leading to a successful sale at $7,350,000 in one of L.A.’s most coveted celebrity neighborhoods.”
Laura noted that they are trusted by their clientele because “in this market, reputation and relationships matter. Athletes trust us because we understand the pace, pressure, and priorities of their lifestyle, and we bring that same championship mindset to every deal. This wasn’t just about selling a home, it was about protecting our client’s legacy and maximizing their investment. That’s the level we play at.”
Renecia, likewise, echoed her parents’ statements.
“For us, it’s not just about closing deals, it’s about creating an experience our clients can trust from start to finish. With this estate, we focused on curating the story behind the home and showcasing it through elevated, tech-driven content that resonates with today’s luxury buyer. As the next generation in this family business, I’m proud to bring a fresh perspective that blends innovation, culture, and concierge-level service our clients truly value,” Renecia Watson stated.
Randolph’s long sales process is indicative of a depressed housing market.
According to Fortune, in July, Mark Zandi, the chief economist of Moody’s Analytics, warned that the state of housing in America had earned a “red flare” from him on social media.
“Home sales, homebuilding, and even house prices are set to slump unless mortgage rates decline materially from their current near 7% soon. That, however, seems unlikely,” Zandi cautioned.
He continued, “Housing will thus soon be a full-blown headwind to broader economic growth, adding to the growing list of reasons to be worried about the economy’s prospects later this year and early next.”
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