Million Dollar Listing Stars The Altman Brothers Extend Contract with Douglas Elliman Realty

Renowned real estate team The Altman Brothers, famous for their appearances on Bravo’s Million Dollar Listing Los Angeles, have recently signed a new multiyear agreement to continue working with Douglas Elliman Realty, their current brokerage.

In an exclusive interview with The Hollywood Reporter, Josh Altman, one of the co-founders of The Altman Brothers, stated that their team has successfully executed transactions worth over $2.5 billion in the last two years alone. To put this impressive figure into perspective, Altman explains, “That equates to about $4 million in sales every day throughout the entire year. We achieved nearly $1.2 billion in 2022 and $1.5 billion in 2021.” These substantial numbers make The Altman Brothers one of the most productive real estate teams in the United States.

The Altman Brothers made the decision to join Douglas Elliman in 2015, after previously being affiliated with Hilton & Hyland. Since then, they have consistently been recognized as one of the top Hollywood real estate agents on The Hollywood Reporter’s annual list. Their stellar performance has earned them the title of the number one large team at Douglas Elliman in 2022.

Commenting on their decision to extend their partnership with Elliman, Josh Altman expressed his excitement, stating, “We’re super pumped. It’s been a great ride, and we didn’t see any reason to change anything. For us, it’s important to continue what we’re trying to accomplish not only locally but globally in real estate, which was our original reason for joining Douglas Elliman. The support they provide us is exceptional, and considering the number of deals we handle, we’re not the easiest people to deal with. However, they are always there for us, and they always have our back.”

Matt Altman, in his statement, reminisces about being among the first agents to join Douglas Elliman when they expanded their operations to California. He highlights the opportunities that arose as the Western Region of the firm grew, stating, “We have constantly been empowered with the best tools, the best branding, and a fabulous leadership team with an agent-first attitude. Elliman truly feels like home, and we are eagerly looking forward to our continued, shared success.”

Josh Altman also shared insights with The Hollywood Reporter about the changes happening on Million Dollar Listing Los Angeles. With the departure of Fredrik Eklund from Douglas Elliman and James Harris and David Parnes from The Agency, the fourteenth season of the show attracted attention. Remaining cast members Tracy Tutor, Josh Flagg, and Josh Altman, all from Douglas Elliman, took the center stage. Altman revealed that the recent season was different, as it didn’t focus solely on real estate. Instead, it delved into the personal lives and relationships of the cast members. He hinted that viewers can expect more of this in the upcoming season.

The next season of Million Dollar Listing will also showcase Josh and Heather Altman’s professional and personal lives in Orange County, California. In 2020, the Altman Brothers expanded their market to include Orange County, and they will soon open a flagship office in Corona Del Mar. Additionally, Josh and Heather recently purchased a five-bedroom waterfront home in Newport Beach, which they plan to renovate and split their time between Newport and Los Angeles.

Howard M. Lorber, executive chairman of Douglas Elliman, expresses his appreciation for The Altman Brothers, stating, “They represent the pinnacle of success, and we are fortunate to have them on board as Elliman agents. Josh, Matt, and Heather are renowned for selling and marketing some of the world’s most iconic properties. Their unwavering professionalism and determination have consistently propelled them to be one of the most successful teams in Los Angeles real estate. We anticipate their continuous growth and success at Douglas Elliman.”

Scott Durkin, President and CEO of Douglas Elliman, adds further praise, saying, “Josh, Matt, and Heather have revolutionized the Los Angeles real estate game. Their extensive market knowledge, experience, and connections, both nationally and globally, have led to their tremendous achievements. I am confident they will continue to raise the bar in the years ahead.”

The Altman Brothers have facilitated several significant sales in recent years, including the highest residential transaction in Brentwood and the highest sale in Orange County in 2022. Their clientele has comprised numerous celebrities such as Justin Bieber, James Cameron, Gene Simmons, Alicia Keys, Norman Lear, Kathy Griffin, and Britney Spears.

While many top-producing agents have recently departed established brokerages to start their own firms, The Altman Brothers have chosen to remain with Douglas Elliman. Josh Altman explains, “We’re not the kind of people who chase after the latest and greatest company.” When they first joined Elliman, their team consisted of just six agents. Today, with over $6 billion in career transactions, The Altman Brothers have expanded to approximately 20 agents across their offices in Los Angeles and Orange County.

Josh Altman shares his observations on the challenges facing luxury residential real estate in 2023. He highlights the ULA Measure, which will come into effect on April 1st and impose an increased transfer tax, starting at 4 percent, on home sales in Los Angeles exceeding $5 million. He acknowledges that luxury home sales have experienced a decline, both nationally and in Los Angeles, due in part to high interest rates. Furthermore, Altman expresses concerns that the ULA Measure, designed to fund affordable housing, may adversely affect sales in the upper echelons of the market. However, Altman emphasizes that despite these challenges, Los Angeles remains an attractive destination due to its unique lifestyle. He poses a thought-provoking question, asking, “Would you rather pay a little less in taxes or have a great life living out here in California?” Altman remains confident that even with the new tax regulations, the allure of Los Angeles will persist, and the market will adjust accordingly.

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