He has high hopes for a turnaround in the market and offers advice to buyers, sellers or anyone breaking into the business.
“Properties over $7 million dollars are still red hot in the hills as long as they’re ready to go. Buyers in that market want to just grab their toothbrush and move in, but I’m also seeing investors buy lower priced property now, which is a real indication of a good change in Hollywood,” Rogers told Patch.
Rogers said it’s fine to buy property in Hollywood if you’re able to stay in holding pattern for 10 years, as the market may creep up in 2 percent increments. He said the glamorous W Hollywood Residences are bringing a lot of great energy and celebrities to the Cahuenga corridor for a $1 million - $3 million purchase price, but admitted he has seen things he never thought he would in the Hollywood Hills, when it comes to short sales and foreclosures.
“These investors buy these properties in Hollywood sight unseen and have no idea what they may be walking into," Rogers said. "I’ve seen toilets clogged with cement — real damage and vandalism done out of anger towards the banks.”
Known for having the Justin Bieber haircut first, the youthful-looking Rogers, who just turned 34, called it quits last year after spending three years as one of a trio of successful realtors on “Million Dollar Listing.”
Drama ensued on the show when Rogers asked his girlfriend to sign a custody agreement for his dog Starla and then later when castmate Josh Flagg threatened to drown the dog on the season finale. Rogers referred to the latter event when he said he has no relationship with any of the former castmates.
There were false reports that Rogers had been fired, but Bravo spokespeople disputed that in several written statements and confirmed Rogers left voluntarily.
Rogers told Patch he left the Bravo show to focus full time on his business, which might seem like a pat answer at first blush. But according to his website, he sold $82 million in real estate in 2010, including the most expensive house in Los Angeles County, according to the Multiple Listing Service, at a whopping $23.5 million. Rogers has been with Hilton & Hyland in Beverly Hills since 2002.
“You have to realize, even though it was only two seasons, it was really three years for me personally with production, post and promotion," Rogers said. "The majority of my clients didn’t want to be on TV. Let’s face it, you do exploit your clients on a reality show and the type of people I deal with value their privacy.”
Rogers refuses to drop any names but it can be surmised Paris Hilton is one of his regular clients because she wrote in a recent photo tweet holding Starla, “Malibu Beach House Hunting with @ChadRogersTV and @StarlaTheChi. How adorable is she? I'm obsessed!” Hilton tweeted on May 10.
Rogers said he plans to be back on television eventually. Until then, he is teaching classes at the Learning Annex in New York for a wide audience of agents, buyers, sellers, media and fans.
Rogers advises when picking a realtor, it’s important to know the agent is going to work hard for you and make sure you feel comfortable with him or her.
“Venture out on Sundays, visit the open houses and see the agents in action," Rogers said he tells people who attend his seminars. "Your money isn’t part-time, so your agent shouldn’t be either. You deserve a full-time agent.”
Rogers also advises against using a family member and has some suggestions to gracefully avoid the uncomfortable expectation of a business relationship.
“Real estate is an extremely litigious business," he said. "I myself would not be offended if my family members did not want me as their agent. To keep the peace in a family, you can ask the family member to refer you to the best expert they know in your neighborhood and let them take the standard 25 percent broker referral fee — then everybody’s happy."
Rogers said it’s a great time to become a realtor as long as you are passionate about the business and are not simply doing it for the money.
“If your heart is in it, you will win," he said. "You have to be passionate about buying and selling, but most of all you have to love taking care of the client and holding the client’s hand through the most important purchases of their lives.”
Rogers joked about how the market was flooded with non-professionals a few years ago who have now dropped out. He said even his manicurist announced she was selling a few residential properties on the side. She is now back to buffing nails full-time.