Million Dollar Listing: Los Angeles
Episode 3 – Dire Contingencies
Madison Hildebrand has a potential new client, a couple from Texas referred by his friend Judy. Madison and Judy meet to exchange information and gather details about the couple’s requirements and tastes.
Josh Flagg sits down with a new agent in his office named Billy who has a Westlake Village home he would like to co-list, which happens to belong to his parents. Josh agrees to co-list but due to this home’s distance from Beverly Hills, not his usual selling area, he would not be able to show it personally.
Josh Altman is still struggling to find a “superhome” for his wealthy foreign investor. He had shown him the ONE bedroom Zanuck estate in last week’s episode. Surprisingly, this is the home his client is ultimately interested in. The offer will be 22 million dollars, short of the $26 million list price stated by Marisa Zanuck.
Madison has found a beautiful Malibu Canyon property for the Texas couple. It has 9 acres of mountain-top, seven bedrooms and a list price is just under $3 million. The flaky selling agent Lisa tries her darndest to showcase the home’s unique green features, including actual dirt-painted walls.
Josh F. and Billy head up to Westlake Village to check out Billy’s parents’ home. It is 3,700 square feet with an indoor pool and has a 1950’s feel. They agree on $1.4 million on the condition that they get to meet any potential buyers. They set up a 50’s-style brokers’ open house for the home. Billy struggles a bit in showcasing the home’s features but the house shows quite well to the many agents who arrive. It is considered a successful open house according to Josh.
Madison finds a Malibu property with ocean views on 1.3 acres with a movie theatre. It’s a nice home, but he notices water condensation on most of the windows which could indicate they need to be replaced. They agree on an offer of $2,650,000.
Bobby arrives at Madison’s office to present a counteroffer of $2,725,000 for the Malibu oceanview home. Madison feels the windows will be a problem for his clients, as they all need to be replaced. He feels the window issue on will kill the deal unless $25,000 is taken out to replace the failing windows. Bobby counter offers $16,000 maximum. The purchase price will now be $2,709,000. Victory for Madison!
Josh F. presents a cash offer of $1.2 million for his co-lister Billy’s parents’ home. They insist on meeting his potential buyer (rather unheard of) but Billy Sr. feels strongly about getting a good vibe on anyone who would be living in his home.
Josh A. presents his offer of $22 million to Marisa Zanuck. Her counter offer, after speaking to her mother-in-law, will be $23 million. She also wants the imported brass banisters and chandeliers. Josh calls the buyer’ s agent, who informs Josh that the home will be razed and rebuilt. They decide on a counter offer of $21 million. Josh presents the new offer and decides not to inform her about the demolition. Marisa’s mother-in-law accepts!
Josh A. and Heather are having friends over for her birthday. Her friends egg him on for a proposal. Josh compares the women to his most ruthless clients.
Josh A. and Marisa Zanuck meet with Robbie, the broker representing the wealthy investor. Marisa will be stunned to find out her in-laws’ gorgeous home is to be bulldozed and rebuilt. She is emotional at the thought of her in- law’s family home demolished. She also wants the hand painted kitchen tiles along with the banisters and chandeliers. The buyer’s agent wisely advises Marisa how his client will be there to create new memories in the rebuilt home. Marisa reluctantly hands over the keys.