David and James' Big Mistake

I am so excited and grateful to be back for another season of Million Dollar Listing Los Angeles! I think it is going to be the best season yet with bigger prices, incredible properties, and new rivalries! 

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This past year has been a whirlwind. Business has been booming! The Altman Brothers ranked #22 in the country according to WSJ selling $225 million in the last year. A huge honor as my brother Matt and I have worked so hard to get where we are; considering just 12 years ago we were two kids from Boston that moved out to LA with no money and big dreams. We have now expanded The Altman Brothers -- locally, nationally and internationally -- so we can cater to our clients' needs anywhere and everywhere. 

In addition to our clients' needs, we have offered our knowledge, time, and expertise to other real estate professionals and investors around the world through various platforms. We have had the privilege to speak to some of the largest corporations and networks worldwide about real estate and entrepreneurship. Our newest venture is our mentor program helping agents and investors take their real estate business to the next level, breaking into the high-end market, making profitable investments, and achieving overall success in real estate. 

It only seems fitting since opening our mentor program to take this opportunity to talk about some of the learning experiences this episode has offered as well as a little commentary on Flagg and the new kids…of course.We were introduced to some fresh meat on the show this season, James and David. They’ve been around the Beverly Hills real estate scene for the past couple of years in the shadows of the big boys. Their bark is big, but their bite, mmm…not so much. I think they’ll be a good addition…or at least their accents will be. It seems like James is a nice family guy and very likeable. And it is always good to see my old friend Josh Flagg as you know we love to mess with each other and that will definitely never stop. By the way, did you see Flagg’s pony tail this episode?!

This year the real estate market has been very good, but very intense. New development is in high demand and these developers have the upper hand and are controlling the market. Danny, the seller of San Circle, is a savvy real estate investor and knew this. Danny interviewed with several agents, including David and James. This is not unusual, and in fact, I encourage sellers to interview multiple agents as this is typically the biggest investment of your life. 

As a listing agent going up for a listing, you must be on your toes knowing the sold, current, and upcoming inventory, the latest in marketing, and have innovative ways of tapping into the demographic that is going to buy that listing. That is where my staging suggestion put me ahead of the game. Staging is key in selling any home, whether new construction or resale. Staging serves multiple purposes: 

1) Proper staging compliments and showcases the architecture and selling features of a home.

2) Staging helps buyers visualize how to utilize the space and decorate.

3) A vacant property benefits from staging as it provides a warm feeling to buyers.

4) Staging doesn’t only mean hiring a company to furnish a home, it also means forces the sellers who are living in their homes to de-personalize, de-clutter, and even rearrange their furniture to maximize the living space. This is key to selling. I even suggest limiting patterns and color in a home. Keeping simple white bedding and painting walls neutral colors.

Staging is a must in any house and worth every penny. Staging will help maximize your profit significantly and get your home sold in a much faster amount of time.Now going on to the next learning experience of this episode, losing a listing (like David and James did). I was very disappointed with the way in which David and James handled losing out on Danny’s listing. We have all been down this road, but you always handle yourself and your business as a professional. David and James coming to the listing they lost out on and bad mouthing the construction, the builder, the price, and me is a big NO NO. Insulting the owner and his work is not going to get you ahead in this business as you are going to run into this developer again and hopefully interview for another one of his listings or even bring the buyer. Don’t burn bridges. Take the rejection as a learning experience and ask the seller why you did not get the listing so that you can improve yourself and your business plan for the next interview.

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Flagg’s listing is located in an amazing community called Bel Air Crest. I sold Kim and Kanye their home in this neighborhood last year actually. I also did the biggest lease in the community which was listed at $100,000/month. I put the tenant in the house for 4 years! 

Thanks again for watching. Make sure to tune into Bravo every Wednesday at 9/8c. To book me for your next conference, to sign up for mentorship or to buy or sell a property, email me at Josh@TheAltmanBrothers.com. For real estate advice and tips, amazing architectural photos, and some fun selfies of the crew, follow me and my team on Instagram, Twitter, and Facebook @TheJoshAltman.