What do you guys think about the Bravo TV show "Million Dollar Listing"?
For the most part, agents would you say the show is an accurate perception of the life of a licensed agent? Would you say the show could persuade someone who was on the fence to get licensed, to actually go for it?
No one watches the show??
I watched the show for the first time last weekend and watched 4 or 5 episodes. For someone who doesn't watch anything on that channel I found it pretty entertaining. Personally, it doesn't make me want to be an agent but I will admit the commissions are pretty staggering. The characters make for good TV I just wish they went more into the deals and less into the personal life.
I like seeing the listings, and the different finishes they use, design details, etc. The agents on the show are really agents, but some of the assistants, etc. are actors. It's all staged and scripted. In Orange County, Million Dollar lisitngs are common place, in fact, in the coastal areas the listings are multi million dollar listings, and they're spectacular to say the least!
As for getting your license and getting in on these deals, it's a tough market to break into. The best bet is finding a successful agent with too many deals, and working for them until you can get your clientel built up.
It's not that easy.People need to quit looking for the quick buck.
I have watched the show for years for entertainment only.The agents you are looking at represent only a small fraction of top brokers/agents in that area.Many of the other agents are lucky if they do 1 to 2 sales a year if any.
Marketing these high end listings just for one property can cost tens of thousands of dollars or more .The brokers/agents spend this money only to end up signing a lease in many cases for a breakeven return on their marketing costs and hopefully a pay day down the road when the market gets better. If you take on a bunch of inventory that isn't saleable you can lose your shirt real fast. The image,cars,clothes,living is way more expensive to maintain out there as well.
They do not get to keep all of that money unless they are the head broker and even then they have business expenses (assistants,marketing,etc.) Most have to pay a split to their broker.
Just keeping it real.
I found it hilarious. All these youngsters, for some reason gay and/or Jewish (I guess it increases the ratings?), making it look so easy. It reminds me of Property Wars a bit.
What they don't show is their origins, which must play a major role because as brokers, some of them can't even negotiate a properly structured deal. How did they get their network at that age if not through family or Ivy League connections? Good for them, but it requires a huge suspension of disbelief from my part.
As Joel says, you can easily lose your shirt in that market. These houses are usually unsellable and the very definition of your house not being an asset.
Ah, American 'reality' shows...