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Josh Flagg Makes an "Impulsive" Offer on Altman's $17M Listing: "Veering Off Course"
The Million Dollar Listing Los Angeles agents negotiate a price with the help of Tracy Tutor.
After unknowingly buying a dilapidated house for $9,295,000, Josh Flagg has been looking for a new home on Million Dollar Listing Los Angeles Season 15.
Following his tour of Josh Altman's $16,995,000 listing, Flagg decided to make an offer on the house at the end of Episode 5. However, as the video above shows, the agents don't see eye-to-eye on price.
In the clip, which is a preview of MDLLA Season 15, Episode 6, Tracy Tutor, who is representing Flagg, tells Altman that Flagg's offer is "all cash at [$13.3 million] with a 30-day close."
Altman rolls his eyes and reminds Tracy, "I'm listed at $16,995,000."
In an interview, Tracy explains why she isn't going to encourage Flagg to pay the asking price for the house, which is on Chalette Drive in the Trousdale Estates neighborhood.
"The Chalette pricing is way too much money for that house," she says. "The views are obstructed by the roof and the house in front of them. This house is no more than 14 million dollars in my opinion."
Still, Altman isn't budging.
"Unless Flagg has a few million dollars sitting in the car right now, it's gonna be an uphill battle," he explains, noting that after informing his clients of Flagg's offer they responded with a "hard no."
In an effort to meet somewhere in the middle, Altman says, "I'll drop a million just to even get it started," which brings the price to $15,995,000.
Flagg, who had been waiting in the car, comes into the office to join the negotiation.
"I want to get you the house, I do," Altman tells Flagg. "Can you come up to [$15,250,000]?"
Flagg immediately says no, and requests, "Go back at $14.5 [million]."
Josh Altman and Tracy Tutor Offered to Give Up Their Commission to Help Josh Flagg Buy a House
Altman notes his seller is "not going to take" that offer and asks, "Will you come up to $15 million? I'll forgo the $350,000 commission to try to make it work."
In an interview, Tracy explains the benefit of Altman giving up his commission, which she plans to do also to make the sale work.
"When it comes to commissions, the seller pays all of the commissions. If Altman chooses to not take a commission, that 2.5% just goes back to the seller," she says. "Josh Flagg gave up his whole commission on the sale of my house two years ago. So you know what? I'm going to do this for free out of the kindness of my heart because, candidly, he needs me."
Josh Flagg makes a $15,000,000 offer on Josh Altman's listing
Considering his options, Flagg declares, "Just go for 15 [million dollars]. Done. That's it. Best and final." However, Tracy quickly stops the offer from being made.
"No! You're being impulsive again," she says. "Let's step outside for a minute because you are veering off course in a major way."
As Flagg and Tracy discuss the deal, Flagg admits, "I'm not even obsessed with the house," but explains he is excited by the fact that it's a turn-key home.
That doesn't justify the price for Tracy, who asks, "You're gonna pay a half-a-million dollar premium in a market that is proven to be absolute sh-t?" She adds, "We cannot go to 15 [million]. You need to cap this at [$14,750,000]."
Flagg agrees, telling Tracy, "You're right. I know that's stupid to pay 15 [million dollars] for that house."
When they go back to Altman, Tracy says, "Here's the deal: [$14,750,000] is the best and final offer, and if we're not taking commission, it's the equivalent of [$15,113,000]."
Watch the full negotiation in the video above and find out if Flagg's offer is accepted by watching more MDLLA Wednesdays at 9/8c on Bravo.
