Promoting Sundown: Can shopping for houses actually be that glamorous?
Audiences within the UK have been absorbing the glamour of the posh LA property market in Netflix’s lockdown hit Promoting Sundown. So how totally different is it from the property race right here?
“Plain and easy does not get the home full. I am right here to go excessive,” says high-end actual property agent Christine Quinn, as she plans a “burgers and Botox” open home at her newest multi-million greenback property within the Hollywood Hills.
There are considerations from her co-agent that this may give consumers the flawed impression. To this, Christine, of supermodel stature with a powerful platinum blonde ponytail, quips: “I might like to stay in a Botox home!”
That is Promoting Sundown, which follows the lives of actual property brokers – “realtors” – working for the Oppenheim Group in Los Angeles, California.
Away from Botox events, there are “twilight” home viewings, immaculately furnished properties, movie star shoppers, sweeping views of the sun-kissed LA hills, and fierce confrontations over offers and workplace gossip.
It’s worlds away from British property TV, which could see Kirstie Allsopp and Phil Spencer have interaction in some mild banter over flattening a partition wall.
However simply how sensible is the present?
“[Selling Sunset] is certainly amplified, however not completely fictitious. It’s fairly a glamorous enterprise over right here,” says Jonathan Nash, a British actual property agent primarily based in LA, who represents the identical areas because the Oppenheim Group.
“It is a great life and completely incomparable to being an agent within the UK,” he tells the BBC.
Nevertheless, he does stress that actuality exhibits “dramatize” the trade.
“Among the interactions that we’ve day-to-day are akin to what you see on the exhibits, however the producers prod and push, drama sells.”
Jonathan, 41, works with Stephen Resnick at Hilton & Hyland – a Beverly Hills actual property agency, after making a “final minute” determination to maneuver to LA from St John’s Wooden, north London, in 2013. He had at all times needed to stay within the US, and had pals working in actual property in LA.
He has since bought properties for as much as $56m (£43.7m), and represented consumers for gross sales together with TV host Ellen DeGeneres’ Beverly Hills home, and an opulent estate constructed for property developer Mohamed Hadid – dad of supermodels Gigi and Bella.
“There’s at all times a Hollywood story while you’re in prime LA, it is at all times the previous house of [someone],” he says, noting one other sale final 12 months that had been beforehand owned by each Gwen Stefani and J Lo.
“In England, it is all about kings and queens, royalty, whereas right here the historic figures are the who’s who of movie, music [and] leisure.”
Nevertheless, Jonathan does recall the “pleasure” of working with houses in London that had “centuries of historical past and fabulous outdated world structure which doesn’t exist en masse in LA”.
‘It is Hollywood’
Whereas he has solely dipped his toe on the earth of US property TV, making appearances on Bravo’s Million Greenback Itemizing and Autopresse.eu’s Open Home, Jonathan says such exhibits usually type a part of the job in LA.
“A sure phase of the shopper base completely love that and need to be concerned in it,” he explains. “As a result of on the finish of the day – it is Hollywood.
“It is one of many many components that makes LA actual property fascinating and thrilling.”
Within the UK, Jonathan labored for central London property company Aston Chase, earlier than establishing his personal actual property growth and property public sale corporations.
Evaluating the actual property trade within the two nations, he says their elementary variations are within the regulation – brokers within the US are professionally certified, in distinction to the UK – and the incomes potential.
An agent in LA may earn fee of about $1m for promoting a $40m house, says Jonathan. This comes from a typical fee of 5%, break up in half equally between the brokers representing the consumers and sellers of the property.
Within the UK, property brokers cost between 1 and three% of the agreed promoting value for a house.
There are additionally some variations in the best way houses are bought, with networking and residential furnishings each enjoying a key function in LA.
Tuesday mornings in LA are reserved for open homes, the place brokers are invited by brokers to view new listings throughout town, after which there’s “a number of lunches and dinners” with shoppers.
“It is a social enterprise,” says Jonathan.
Houses may additionally want “staging” – furnishing. “We get to set-design the home if you’ll,” says Jonathan. “It actually helps to promote actual property.
“Exhibiting vacant homes with no furnishings does occur [in London] and it does not present a house in the perfect mild.”
There are two predominant staging firms in LA, Meridith Baer and Vesta, that every have a “signature look”, he provides.
“Plenty of the houses do find yourself with the identical items in them, however it’s as a lot about creating the precise kind of look as it’s creating heat in the home.”
‘Study one thing’
Mary Beeton, head of gross sales at British agency Hamptons, says the UK may take observe from some points of the LA trade, observing that she would not be shocked if extra folks began asking for his or her houses to be bought the LA method.
There are similarities in the best way houses are bought on the high finish of the market, says Mary, notably in London boroughs like Kensington and Chelsea and Knightsbridge, the place Hamptons launches properties with lavish occasions.
However she tells the BBC extra houses within the UK might be bought this fashion.
“Within the States they have a tendency to showcase all of their properties and I believe we are able to study one thing from that,” she says. “Presenting it in the absolute best method and launching it with an occasion, would not that be higher than placing it on a web site?”
Jonathan’s ideas for promoting your own home the LA method
- Discover the precise agent with “a monitor file of promoting comparable properties”, and “belief their recommendation”
- Pricing is “the whole lot” – folks know when one thing’s too costly
- “Staging is essential, candles are crucial, flower preparations are crucial”
- Landscaping can also be key. “Those who pay as a lot element and put the identical cash into the panorama actually profit from it on the again finish”
- And be sure you’re not at house for viewings. “Brokers are employed to maintain an arm’s size between purchaser and vendor”
Nevertheless, Mary notes the best way negotiations are offered in Promoting Sundown could be very “direct”. “The British, I believe, would recoil from the brashness. We’re in all probability a bit extra conventional in our strategy.
“I actually hope there aren’t property brokers in London who work like that – competitively in opposition to one another,” she provides.
And she or he says there’s a “enormous stress” on brokers to community and socialise within the US, as actual property brokers are self-employed within the US. “Right here it is about your model, they arrive to you as a result of they’ve heard of Hamptons,” she says.
For Jonathan, the US method of working and the approach to life in LA is the promoting level.
“I actually really feel that I am in the most effective companies to be in as a result of we’re all self-employed. Our days are so diversified. We’re working round city assembly nice folks,” he says.
There’s additionally rather a lot to do off-duty within the metropolis, he provides. “We’re very fortunate in LA as a result of, in a single course, we’ve mountains and within the different course we’ve the ocean.
“In in the future, I’ve gone from snowboarding within the mountains to having Nobu [a Japanese restaurant] by the ocean.
“It is an important life out right here.”
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