‘Selling Sunset’ Reveals Real Estate Tricks the Rich Use To Sell and Buy Homes Today

The “Selling Sunset” crew welcomes Chrishall Stause back to the office.
The Netflix hit “Selling Sunset” is famed for its panoramas of luxurious L.A. real estate that few of us could ever afford to own. And yet, the actual mechanics of buying and selling these homes adhere to many of the same rules we mere mortals deal with every day—and now that America’s real estate market has slowed to a near standstill, everyone could stand to learn from the best, right?
It’s no secret that there’s a shortage of inventory when it comes to residential homes. Even the wealthiest buyers are more inclined to hang on to the posh properties they’d bought during the COVID-19 pandemic’s record-low interest rates, rather than try to sell and upgrade to a pricier house at today’s much higher rates.
The comely Oppenheim Group agents of “Selling Sunset” are well aware of this tightening inventory, and they’re finding that they’re having to work harder than ever to secure fresh real estate for their clients. And, being the competitive cadre that they are, they have a few slick strategies up their designer sleeves that can help not only the rich but the rest of us, too.
Here are some of the smart negotiation tactics and tricks hiding beneath these agents’ notorious posing and bickering on how to buy or sell any size real estate in today’s challenging market. Look, lust, and learn.
Teamwork really does make the dream work
(Netflix)
In the episode “TBD on Bre,” Chelsea Lazkani, Mary Fitzgerald, and Nicole Young are touring an outrageously posh Santa Monica mansion with a full-size basketball court. It hasn’t been listed yet, but you can tell it will go for way over $20 million.
When Lazkani says the owner is thinking of co-listing the home with her and an agent from another agency, Young is horrified. If Lazkani agrees, this means she will be forking over a huge chunk of the commission to someone else.
But Lazkani is OK with this plan, aware of her clients’ prior commitment to the other agent. She also realizes that 50% of something is better than 100% of nothing, which is what she might get if she insists on exclusivity and the client decides to go with the other agent.
What we regular sellers can take away from this story is that with two agents from two different agencies, properties will be exposed to twice as many buyers, and we’ll have two competitive agents working on the sale.
See homes before they’re listed
(Netflix)
Emma Hernan has a gorgeous, 5,840-square-foot home with fabulous views overlooking L.A., and she allows her colleague Lazkani to bring in her investor client for a viewing before the home is officially listed on the multiple listing service for $5,495,000.
This home is perfect for an investor because, Hernan says, he’ll be able to charge at least $35,000 per month in rent! Best of all, this buyer won’t have to fend off other offers because few are even aware it’s for sale.
The lesson here is that if your real estate agent is well connected, as all the stars on “Selling Sunset” are, he or she can find out about homes that are going up for sale before they’re even listed on the market.
Last year, when properties were getting multiple bids, selling a home before it was listed was unthinkable. But today, when homes are lingering on the market longer and often selling below the list price, sellers are more interested in moving their real estate quickly.
Art can work against you
(Netflix)
Although the client who toured this home kind of liked this gorilla statue by the pool, the “Selling Sunset” agents all know that it’s a risky piece of decor to keep in a house they’re trying to sell.
These sculptures were all the rage several years ago, being associated with what crypto czars considered their primal strength and gonzo investing prowess. Today, however, with scandals plaguing the sector and investors being forced to reassess their crypto strategies, that giant gorilla seems dated and sad to those in the know.
Even though most homeowners might not have a gorilla by their pool, they may have other “art” worth hiding. Family photos and religious artifacts should be stored away, since you want buyers to see themselves in your home.
Black is back, but not too much
(Realtor.com)
The trend of painting homes black seems to thankfully be falling by the wayside, but black accents can really add a touch of chic sophistication to a home.
“I’m loving that everyone’s bringing this black into it,” says jet-haired newbie Bre Tiesi, as she and Heather Rae El Moussa tour an elegant modern home listed at whopping $22 million. “And they do it so well, where it’s not too overly masculine, so it’s still family-inviting, which I really like.”
Indeed, the house is warmed up with lots of wood accents and green plants. Floor-to-ceiling windows bring in the sunlight, as well as the blues of the sky and pool.
Don’t forget sturdy handrails
(Netflix)
While touring the black-accented home, the virtues of its sturdy yet attractive handrails on both sides of the staircase are not lost on El Moussa, who is pregnant, and Tiesi, who recently gave birth. Both women are wearing skyscraper stilettos.
“I love that they have this handrail,” says El Moussa as she and Tiesi ascend. “That’s what you get in houses that are $4 million or $5 million. They don’t think about that.”
“That’s so true,” agrees Tiesi. “I’m always holding onto the wall.”
Sound familiar? Staircases with flimsy or even nonexistent handrails are a clear safety hazard and not up to code. Nonetheless, a surprising number of builders at all price ranges try to get away with it, sacrificing safety for aesthetics.
Buyers at all levels should beware of houses without handrails on stairways, since who knows—they may have cut corners in other places, too.