Million Dollar Listing: Los Angeles
Episode 4 – Last Laugh
Josh Altman and his brother Matt are hoping to win a co-listing of a gorgeous Beverly Hills mansion in the Benedict Canyon area on Oak Pass. It is still under construction but would be in the $10 million range when completed. The brothers are eager to win the listing from the clients but disagree in front of the seller’s reps on when the house should be shown to potential buyers; Josh would like to wait until it “shows” better; Matt would prefer to let the construction continue further. They all agree to not hold a huge open house until the house is completed. Josh later admonishes his brother that they should always be on the same page in front of clients.
Madison meets with Dwight and Kellene, a couple from Aspen who own a second home in West Hollywood but need something larger. They would like to consider the surrounding area of Beverly Hills as their second residence. Their budget could range up to $4 million and they would need at least 4,000 square feet. Madison usually focuses his selling area on Malibu, but lately he has been expanding his geographical area into Beverly Hills. He gathers his troops to start finding the perfect home for Dwight and Kellene. One of his employees finds a home to look at, but HEATHER, his former assistant and Josh Altman’s girlfriend, is the listing agent!
Josh Altman and his brother Matt continue to bicker about how to best market the Oak Pass house. Josh want to get buyers in immediately; Matt still wants more construction to be done. Matt finally agrees to try it Josh’s way.
Madison meets with his new Aspen clients at Heather’s Beverly Hills listing. While a beautiful home, Dwight and Kellene find the master bedroom to be on the small side.
Heather and Madison speak privately after the showing. Heather tries to explain her feelings of how close they had been and how she had only wanted to continue working with Madison in an expanded area, which is what he doing now without her. He tells her that because of her relationship with Josh A. it had become a conflict of interest to keep her as an employee and friend and that he feels Josh is a slimeball. They try to clear the air but Madison knows they never would be close friends again.
Private showings are now being set up at the Oak Pass construction site by Josh A. and Matt. It is difficult to try to help the potential buyers envision what the home will look like, but Josh and Matt try their best.
Madison finds another home in Beverly Hills for Dwight and Kellene to look over. It is their desired 4,000 square feet but needs some renovating. Madison asks the couple to consider Malibu with its stunning ocean views. They finally agree to expand their search to Madison’s usual selling zone.
Josh F. and his co-lister Billy Jr. are in receipt of an offer of $1.2 million for Billy’s parents’ house. They counter-offer $1.3 million which the buyer’s agent Tina feels is excessive. Josh asks the agent if her client would consider letting the sellers remain in the home rent-free for 90 days (a “leaseback”) if they agree to the latest $1.2 million offer. She goes off to make that important phone call.
Madison has gotten his Aspen clients to agree to travel to Malibu to look at wow-factor homes. The first is $3,350,000.00 with custom Versace tile work and a huge marble kitchen. The requisite 180-degree ocean views are all there. Kellene feels the home, at 3,200 square feet, is still a tad small.
Billy Jr. and Josh F. get good news: the buyer agrees to let Billy’s parents remain in their home for 90 days after closing to allow time for them to find another home. They call Billy Sr., who at first is hesitant to even consider the low offer. His son convinces him that he knows Cynthia is the right person to buy their family home and he won’t find a better buyer. Billy Sr. finally agrees after listening to his son. It’s a win-win situation, as the buyer’s $1.2 million offer is now accepted on the leaseback terms. Josh F. and Billy celebrate!
Madison takes his clients to another Malibu masterpiece, it is 4,000 square feet and priced at $2,895,000.00. The views are fantastic, but fussy Kellene and Dwight feel the house may need too much renovation.
Josh A. and his brother have a private showing of the Oak Pass house. The client is hesitant to consider the property due to its unfinished state.
Madison sits down with Dwight and Kellene to gauge their interest in the homes he has shown them, from Beverly Hills to Malibu. He is surprised to hear that they actually are willing to make an offer on one of the Malibu properties, the home priced at $2.895 million. They admit they have fallen in love with the area only after he had planted the idea of Malibu in their heads.
Josh A.’s brother Matt continues to harp at his brother that they made a mistake in showing the Oak Pass property too soon. Josh A. grudgingly admits his brother is probably right, but hates that working with his brother makes him feel like a child again.
Madison returns to his clients with a $2,650,000 counter offer on the Malibu property. They feel the price would work with their budget, and cannot believe they will now be part-time Malibu residents!