5 Things All Agents Need to Hear from Million Dollar Listing’s Josh Altman

With optimism and clear vision, Josh Altman joined this week’s high-energy Good Morning RE/MAX to discuss what he’s seeing in his market and how his team is responding.

As part of the top 1% of agents in the world and star of Bravo’s “Million Dollar Listing Los Angeles” show, now approaching its 12th season, Altman shares insight he’s gleaned from 20 years in the business.

“Anybody who says this hasn’t rocked their world is just not being honest,” Altman told RE/MAX Chief Customer Officer Nick Bailey, noting he’d recently lost approximately 70% of the $100 million in escrows he had. “Like any good agent, we’ve adjusted and figured out how to pivot with the market and what’s working, what’s not working. Most importantly, communication is key in a time like this.”

Altman, who says he’s looking to set records as he navigates the market, shared his top advice with RE/MAX agents around the world.

In times like this, clients become your clients for life.

“I’ve been in the business a long time. When you’re there for your clients in times like this they become your clients for life. And I think it’s really important to bond right now, that you can make [that bond] with your client, and that’s why on all of our Zoom calls with our team, it’s all about communication and constantly calling your client list right now. I think that’s the most important thing. … I always overcommunicate. I feel that if somebody doesn’t want to hear from me, they’ll let me know.”

Deals are not going to fall in your lap right now. You need to create them.

“You need to go outside of your comfort zone. You’ve got to make things happen, if you’re sitting in your pajamas watching TV, you’re not making things happen. Get up, put your suit on, put your blazer on, put your whatever you wear to work on, go into your office, close the door and get down to business. There’s a lot of opportunities out there right now. And this is when good agents rise to the top. I’ve seen it before. And, you know, this is when if you’re prepared, you’re going to come out the gates just sprinting to success.”

You have to change your business.

“The agents that are going to be successful are not just marketing, they’re doubling down on their marketing – and those are the people who are going to rise to the top. Yes, there’s going to be a lot of inventory, the MLS books are going to be like phone books, but you know what, to me that just means there’s going to be a lot of deals. There are going to be a lot of sellers who have to sell, and a lot of buyers who want to buy. So you have to change your business. If you’re a seller’s agent, pivot; become a buyer’s agent. If you’ve never written lowball offers, well get the pen warmed up and start writing lowball offers. Change your business with the time. I keep saying this, there is so much opportunity. Keep your head and really just figure out how you’re going to succeed in this market. The whiners never win, the winners figure it out and they move forward, and real estate agents are some of the greatest entrepreneurs on the planet. This is what we do. This is how we thrive. I love not knowing when my next paycheck is coming in. It makes me hungry. This is when we rise to the top.”

Become an expert in your micro-market.

“The No. 1 battle as a real estate agent is walking into a house and telling somebody really what their house is worth, and they don’t believe you. Well now they might believe you as the expert that you are. Become an expert in the micro-market you’re working in. Become the go-to person who knows everything about the new rules, and everything going on in your local market. Be that expert. I always talk about that; study your market, be the expert, especially in the high-end market. Time is money, and if you waste a high-end buyer’s time, you’re out – next agent’s in.”

Stop freaking out and get to work.

“At the end of the day, I’ve been in this business now one way or another – flipping houses, financing houses or selling houses – for almost 20 years, and I want to leave you with this: This is not that bad. Stop freaking out and get to work. Stop saying you’re going to do stuff and not do it, just do it. Now’s the time to do it, now’s the time you’re going to rise to the top. I know it’s a little scary out there, but you’ve got to study. You’ve got to be the best at what you do, and you’ve got to embrace it. You’re an agent, you’re an entrepreneur, you will get through this. There are people who want to sell, there are people who want to buy. You’ve just got to come with your A-game, you’ve got to be prepared more than ever because the competition is going to be better than ever, which gives the opportunity for your business to be better than ever.”