Million Dollar Listing: Josh Rethinks Selling Homes
This week on Million Dollar Listing, we saw two realtors who lost commissions and only one seal the deal. Josh was to list Pierre’s house, but this guy was tough. He wanted his son in on the deal, which was okay, but he wouldn’t hardly budge on his price, which was WAY over the market. He hoped to double his price in a year – not happening. He wanted $10 million, but finally settled on listing the house for $8.495 million. No one seemed interested, but Reuben finally found two buyers. After Pierre all but cut Josh out of the deal (he was still going to get his commission, but not able to negotiate), the whole thing fell through and they took the house off the market. Josh is thinking maybe he doesn’t want to sell houses forever. It was sad at his 22nd birthday party when he said he has 150 acquaintances, but only two friends.
Chad was going to sell the home of a Lakers player, Cuttino. He suggested going low and hoping for a bidding war to raise the price. First, Cuttino surprised him by removing all the furniture without telling him, but the bigger surprise was the water damage no one knew about. I mean this was a big problem – they had to take the house off the market and pretty much gut the inside. Chad lost a potential commission of $99.875 – at least temporarily. Once the damage is fixed, Cuttino plans to let Chad put the house on the market again.
The only one to make his commission this week was Madison. He had a college student whose daddy was buying him a home. After making them realize they needed to spend a little more than a million, they found the perfect home in Malibu. But, they had to move quick – the dad wanted to close in two weeks. Fortunately, the buyer accepted the price, the house passed inspection, and Madison took home a nice commission of $78,000.
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