‘MDLLA’ Season 15: How 'listing drama' cost Josh and Heather Altman $400K
LOS ANGELES, CALIFORNIA: 'Million Dollar Listing: Los Angeles' Season 15 started off with a bang as tensions rose between Josh Altman and Heather Altman over their $15,888,000 Readcrest listing.
The property had been on the market for 18 months with no success, leading Altman to admit that the listing was "stale" and difficult to show due to ongoing tenants. To make matters worse, the Altmans faced more challenges with the listing and ultimately lost out on nearly $400,000 in commission.
In the second episode of 'MDLLA' Season 15, the couple had a discussion with their co-listing agent to address the issues they were facing in getting an offer on the property.
"We've been on for about 45 days now, right? We, of course, are still super excited and pumped to sell the house. We've missed a few showings because we've run into some roadblocks with tenants in there," Josh said.
"I spent a lot of money on the brokers open. I spent a lot of money marketing this. You win some, you lose some, that's business. The fact that I can't do my job and actually help these people sell this house, that I care about more than anything," he shared in an interview.
The sellers reluctantly decided to forfeit their $80,000 monthly rental income in order to accommodate Josh and Heather's request to show the house. However, upon arriving for a private showing, the couple was surprised to find out that there was a new tenant already occupying the property.
"You gotta be kidding me. That's so annoying," Josh said.
Heather was also unhappy with the situation and she said, "When you cancel a showing last-minute, you look unprofessional. And it's a big 'F you' to the other agents and the buyer especially."
With only a brief amount of time remaining before they were scheduled to present the house to a potential buyer, Heather devised a plan to address the situation.
Talking about a nearby listing, Heather said, "Let's take him to Beverly Grove."
'MDLLA' Season 15 stars Josh Altman and Heather Altman Beverly Grove listing stands at $14,495,000
During the episode, Heather Altman spilled the beans on the Beverly Grove listing and said, "Beverly Grove's just a few minutes from Readcrest."
"Both hillside, vertical builds, both new construction. Readcrest is $15,888,000, Beverly Grove is $14,495,000," she further added.
Josh Altman went on to say, "You want to know what the main difference is between Beverly Grove and Readcrest? I can get into Beverly Grove."
'MDLLA' Season 15: Did Josh Altman and Heather Altman sell the Readcrest listing?
Josh and Heather Altman were unable to secure a buyer for the listing. As the episode drew to a close, Josh reached out to the co-listing agent to delve into the challenges they faced during the process.
"The listing agreement is coming to an end. We didn't get as much access as we would have liked to," Josh said.
Josh mentioned that they did receive an offer, however, the sellers failed to act quickly enough.
"I just don't think that I'm going to be able to sell it with the rate that we're going. I think we should take it off the MLS right now," he added.
'Million Dollar Listing: Los Angeles' Season 15 airs every Wednesday at 9 pm ET on Bravo.