What's it really like to work in LA real estate?

You've seen the Netflix TV shows. But what's the reality? I asked a no-nonsense Brit making waves in one of Hollywood's most cut-throat industries.

I have a friend who regularly takes her two and four-year-old to open houses at multi-million dollar properties for something to do at the weekend. "At least then, they're messing up someone else's house," she reasons.

I have a husband who spends more time on Zillow than Instagram. Chris: "Check out this house!" Me: "I'm sorry, do we have $10 million in the bank that I didn't know about?" 

And I have a theory - that when you live in LA, real estate is either your business, or your hobby.

Because LA real estate is alluring and intoxicating whether you can afford a five bedroom Beverly Hills mansion in an exclusive gated community - or barely afford an 800 square feet box in a much less exclusive Venice apartment complex (shout out to my ex-Lincoln Place neighbours!) 

It's why reality TV shows about the cut-throat industry - like Selling Sunset and Million Dollar Listing - exist. And why we have such an appetite for them. 

When my freelance writing work dried up temporarily in the 2020 pandemic, I remember watching Selling Sunset and pondering how to career pivot into real estate. It looked so glamorous. It appeared so lucrative. I gave it some serious thought. And weighed up how much plastic surgery I'd need to have vs. how much commission I would make. 

I'm joking, of course - but the Netflix show seemed so far-fetched (open houses that hand out free Botox? Now that's so LA) I've been fascinated by the world of LA real estate ever since. 

So when Bianca Boey (a fellow Brit who now lives in LA, who was a film publicist in London when I was an entertainment journalist) told me she hadn't just pondered the same thing, she'd only gone and done it, I was a) slightly jealous, b) hugely impressed and c) dying to interview her. 

You see, Bianca hasn't just re-trained as a real estate agent, she's completed her first year on the books of The Agency. The agency. The global real estate brokerage that's so hot right now, it has its own Netflix show, Buying Beverly Hills. 

So how does the reality of real estate measure up to what we see on TV? Is it super glamorous? Do people really get so dressed up to go to the office?! Obviously, I'm going to ask her all the important questions. 

"I have personally never worn a tight mini skirt or ridiculous heels to a showing," she laughs. "That said, I work between our Venice and Beverly Hills offices and I do feel like I have to step up my outfit game whenever I go into Beverly Hills!" 

If the shoe fits: Bianca Boey doing a terrible job of convincing me her job isn’t glamorous.

"It reminds me of being a publicist," adds Bianca, who worked for Warner Bros and 20th Century Fox during her 13 year career as a leading film publicist in London. "People might think it’s glamorous being on a red carpet but you’re not really there as a guest to enjoy yourself. Real estate is similar. 

"I might spend a lot of my time in multi-million dollar houses but I’m there to do a job and it's one that requires constant focus and attention to detail. You are dealing with the biggest purchase of someone's life and your client, and their best interests, must always come first."

It sounds even more high pressured than I imagined. "It is an extremely competitive industry," she admits. "Even though agents all ‘work’ for a brokerage, we are technically self-employed. That means there is no base salary and the only way you make money is through closing a deal and earning the commission."

The truth is you are not only competing against other agents in your brokerage, but hundreds of thousands of agents who have all completed the same training to get their California Real Estate License. The qualification is divided into three modules, Real Estate Practice, Real Estate Principles and one elective module (for example, Real Estate Law.)

It's only once you have your license you can apply to a brokerage and the recruitment process at somewhere like The Agency, who are extremely selective when hiring, is rigorous. "They believe in quality over quantity and have some of the top agents in the country," says Bianca, who serves clients throughout West L.A. and the South Bay, specialising in properties in Silicon Beach and Playa Vista.

Call my agent: My job is just… beach.

"Their approach and branding are fresh and innovative and they create a collaborative atmosphere where you really feel like part of a team (even though technically everyone is in competition!) The number 1 rule is ‘No Assholes’ which honestly is a rule I would really like to apply to every aspect of life!"

While it's easy to assume being a real estate agent in LA is all open houses and networking events, there is crucial work that goes on behind-the-scenes which is not for the faint-hearted. 

"It's important to be completely knowledgeable and up to date on what is happening in the housing market," explains Bianca. "You have to be an expert in your field so you’re able to advise and help clients in the best way possible." 

And those open houses? Well, they sound pretty dangerous more than anything else. "I have an open house scar," she laughs. "I was collecting my signs after one and putting them in the boot [that's the trunk to my US readers!] of my car. I was parked on an incline when one of the signs slipped out and tore down my leg ripping off skin almost to the bone!"

Ouch. Has anything else surprised her about the world of LA real estate? "I'm basically running my own business," she explains. "I’m used to marketing movies and publicising other people, so it's a shift to market yourself. I’m used to being behind the camera and ducking out of the way on red carpets, but now I need to be front and centre and that is more difficult for me than I expected. I’m working on it, so expect to see a lot more videos of me on social media moving forward!"

With interest rates the highest they've been for quite a while, it's not the easiest time to be starting out in the industry. "A lot of agents are having one of the worst years they've ever had," she nods. "There are a lot of people dropping out of the industry now."

Not that it is deterring Bianca. If anything, quite the opposite. "From my understanding, there are a lot of agents who were very successful during Covid when interest rates were particularly low and work just came to them. But they didn't learn the basics of running a business so now they're struggling," she says.

"It's a tough time to be starting out but if I can make it through what a lot of people are saying is the worst point of their career, it can only get better."

It helps that Bianca has already identified her USP. "I work with a lot of first time home buyers and expats," she explains. "I love being able to educate people who don't know how the process works; who have probably only seen it on TV shows and not in real life. It’s helpful for me to be able to explain the market here - especially to Europeans and Brits - because I've been through it myself…”

Been through it. Bought the t-shirt. And got the open house scars to prove it.

If you're in LA and in search of your dream home, or you just have questions about LA real estate, you can contact Bianca direct on bianca.boey@theagencyre.com or find her on Instagram, TikTok, LinkedIn or at The Agency. You can also sign up to her newsletter.

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