A tough luxury real estate market, particularly in Los Angeles, California with the “mansion tax,” has caused a significant shift for real estate professionals in that space. But leave it to Million Dollar Listing Los Angeles star Tracy Tutor to work hard to navigate this new real estate reality.
“As a veteran in real estate, being 24 years in the business, you figure out one or two things going along the way and when you hit a down market, and you have to know how to pivot,” Tutor told Yahoo Canada. “And I think that’s something that I’ve figured out how to do.”
As we’ve already seen in the first two episodes of Million Dollar Listing Los Angeles Season 15 (on Hayu in Canada), with Tutor and her costars, Josh Altman and Josh Flagg, shifts in the luxury real estate market will dominate the season.
Not every property is listed and sold in one episode, and these TV real estate professionals are moving outside the Los Angeles for listings, while also having to explain the new realities of the market to their wealthy sellers.
“We’ve got kids to feed, we have teams to support, and it’s a lot of pressure,” Tutor said. “I think the beautiful thing about our show … is we actually show it. We are showing you how difficult it is. We’re going to show you times where the deal doesn’t close in one episode.”
“The arc of the entire season is watching the media just take a complete dump on what’s happening in real estate and that, of course, affects perception in the market. And when we are dealing with clients, it’s like re-educating them all over again about how they’re going to navigate if they have to move, or if they’re holding, … and it’s ever evolving. … A lot of stress, pressure and high stakes, which I’m not sure we’ve seen as much in the past.”
Hayu
Watch Million Dollar Listing Los Angeles on Hayu with one week free, then $6.99/month
But when it comes to negotiating with her costars, Tutor highlighted that she particularly enjoys a negotiation against Altman.
“He is an agent’s agent,” Tutor said. “What I mean by that is we all are there to serve our client, but when you get a combative agent on the other end of the negotiation, it’s like dealing with attorneys. They’re there to kill a deal, not bring it together.”
“When I work with Altman we have the same goal in mind. Everybody’s going to have to give a little. A successful deal is when both the buyer and seller feel like they had to give up a little too much, and Altman and I have always been able to navigate that.”
Tracy Tutor showing breakup with Erik Anderson on ‘Million Dollar Listing Los Angeles’
As we’ve already seen teased for later in the season, Million Dollar Listing Los Angeles will show Tutor going through her breakup with fitness trainer Erik Anderson.
“Watching it back is not going to be fun, but I made a decision that I was going to share and be vulnerable on the show this season with my personal life,” Tutor said. “And as scary as that is, I also actually found it sort of empowering.”
“What I realized is at the end of the day, when you have a career like I do, or any female, or even man in business, you have to compartmentalize. No matter what I’m going through, the world doesn’t stop because I’m shedding a tear for the loss of my three-and-a-half year relationship. My clients still expect me to be ready, show up for them and fight for them on every single deal. And so I’d get in the car, I’d wipe the tears, put my big girl pants on and my high heels, and just say, ‘Let’s get through this.'”
Hayu
Watch Million Dollar Listing Los Angeles on Hayu with one week free, then $6.99/month
Tutor added that she’s felt pressure to show that she’s “boss enough” on the series, but she’s recognized the power in also showing vulnerability.
“Standing next the two men that have been on that show for many, many years before me, I didn’t want to be vulnerable. I wanted to be a boss and I wanted to show that I was as strong as them, as good as them, and a better agent than them, in some cases,” she said. “Now I recognize that there’s power in vulnerability as well.”
“I can be two things at once. I can be a boss in my career and a great real estate agent for my clients, but I’m also allowed to be a mother. … I’m allowed to have relationships and I’m allowed to cry. And I think those two can coexist, which obviously is something I think women in business have had to navigate for a long time. And I think the more we share those moments, the more powerful we become. I think that’s primarily why I made the decision to share my breakup on the show, to show other women that it’s not always killing it and slaying it at the office. Sometimes it’s coming home, taking your heels off, crying for two-and-a-half hours until your face is blown up blowfish. Women need to understand that we’re allowed to be all of those things.”