‘Sexy but overpriced’: Kim Kardashian’s real-estate agent snubs Sydney property market

Posted on by Jose K. Taing

Josh Altman walks on to the level nodding and smiling as even though he’s simply heard the funniest element and he can’t wait to share it.

He introduces himself as “real property-a-holicâ€. He explains: “See, I’m addicted to actual property.†He asks who of the target audience shares his dependancy, and about a hundred fingers cross up of a crowd several times that length.

“Are there many real property sellers here?â€

“Too many,†mutters a female in the back of me.

“How lots of you have got the real-estate dream?â€

I placed my hand up. however my real estate dream – it quick becomes obvious, then is relentlessly hammered home over the path of ninety minutes – could be very extraordinary to Josh Altman’s.

The star of the reality tv show A Million dollar list l. a., he purports to be the arena’s maximum a success actual property agent. He has sold more than US$2bn in actual estate, which include the maximum steeply-priced one-bedroom house in history for US$20m.
At any time, he says, he has extra than US$350m in listings. His customers include Kim Kardashian West, Selena Gomez, Miley Cyrus, Wes Craven, Denise Richards, and Ashton Kutcher and Mila Kunis.

Altman has the “finest activity in the globalâ€, he says: “I get to be part of the american dream.â€

On Tuesday night he shared the secrets of his success with ticket holders on the megastar activities centre in Sydney. The city has one of the most inflated property markets inside the international, in which the median residence rate is upwards of 7 figures and about 12 instances what the middle-earnings Sydney household earns in a year.

My actual estate dream is to, in the future, personal a few. Josh Altman’s real property dream, as he tells it, is a literal night-time hallucination approximately making 5% fee on a $200m mansion. “I was going to promote it, I used to be going to make $10m – then my spouse woke me up,†he says.

Tickets for the event, subsidized by Rolls-Royce, ranged from $49 to $199. The “rockstar revel in†bundle, which include a selfie and a handshake with Altman and a pre-occasion champagne reception, changed into limited to 30 spots for $997 each.

From a cursory inspection of the premises, greater people had taken advantage of this deal than I’d predicted. I had predicted 0.
however, Altman is a rock star among actual property agents, all the more aspirational for his humble beginnings, which he labours over: renting a couch to sleep on in a frat residence, skating to his process at a mailroom.
together with his older brother Matt – his enterprise partner, who later joins him on degree – they every stored US$5,000 and went in on a $400,000 condo. once upon a time in the US, there has been something called a hundred% financing, he says. “and those wonder why the economy collapsed!â€

The condominium offered for $600,000. the first thing he did become buy a Jeep.

“but for me, I desired to make extra money,†he explains, a habitual theme of the nighttime.

He studied for his real estate licence. He failed two times. Then he were given it. That’s what counts for adversity inside the Josh Altman tale. Later he talks approximately the choice process for A Million dollar list los Angeles: he was one of 200 potential candidates. “My possibilities have been amazing,†he says with sarcasm. He got it.

At 26 Altman became a loan broking, set up his own company and hired all his friends. “At lunch we’d all visit the health club and play basketball, and then we’d come lower back and near deals,†he well-knownshows. before lengthy, they’d traded their Jeeps for Ferraris, he says.

It seems like Entourage, I think derisively.

“you recognize that film Entourage?†says Altman. “It turned into type of like that.â€

Then the economic system collapsed. even as the good instances were rolling, he says, he’d stopped paying interest. He’d simply bought a $2.5m castle. “I used to be a millionaire by the age of 26 and I was broke by the age of 26 and a half.â€

He likens it to the Seinfeld episode where Jerry takes the offer of a seat in first elegance because Elaine hasn’t ever been and so doesn’t recognize what she’s missing out on. “That changed into my lifestyles. I knew exactly what I was missing,†he says.
This was Josh Altman’s rock backside: making an $800,000 loss on his fort, having his luxury automobiles taken away, a brush with melancholy. Then comes the redemption, nearly biblical in his retelling: the soles of his shoes carrying out from his pounding the pavement, evenings spent icing his knuckles after days of door-knocking.

hard paintings pays off is the lesson right here, certainly one of several has for the gathered Australian actual estate agents. the first is: “Get a reality display. It facilitates.â€

He’s joking, but what does assistance be promoting luxury properties well worth many hundreds of thousands of greenbacks to people with just that to burn. Mansions of among $1m and $5m are “flying off the shelvesâ€, says Altman; his clients are most of the richest celebrities inside the international. (No wonder they “love what they doâ€, his number 1 rule for fulfillment.)

How tough can it’s to promote them a house?

I’d imagined that for the notable rich, belongings changed into a negligible price like the gum or discounted chocolate bars which you chuck directly to the conveyer belt even as in line on the supermarket – yeah, thinks Kylie Jenner, mother gained’t note a $6m six-bed room residence in the Hidden Hills. (simply kidding, she offered it herself!)

To pay attention Altman inform it, that doesn’t appear so far from the truth. He satisfied the actor Tyler Perry, net worth $400m, to sell his house after he got directly to the treadmill next to him on the gymnasium. Perry instructed him he hadn’t been to the residence in greater than a 12 months.

Altman made greater than half of 1,000,000 greenbacks, he says, on an afternoon when he had nothing to do.

another time, Altman sold a property to an NBA star he brought himself to at the same time as in line at Starbucks, who volunteered that he become at that second inside the marketplace for three: for himself, his family and his entourage. (Altman supplied him $1,000 to get in his car there and then.)



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