Meet Mike Wagner

We had the good fortune of connecting with Mike Wagner and we’ve shared our conversation below.

Hi Mike, we’d love for you to start things off by telling us something about your industry that we and others not in the industry might be unaware of?
Don’t believe everything you see on TV! Some of these reality TV shows have definitely glamorized the lifestyles of LA real estate professionals for better and worse. Although there is a lot of money to be made, it does not come as easy as some of these shows make it out to be. Keep in mind, it takes a long time to build a legitimate real estate business and there’s no overnight success in this industry.

To be clear, I personally love these shows. I’m even considered by some as the non-speaking background star of one currently streaming on Netflix. Additionally, a large part of my team’s success is due to my brokers seven season run on Million Dollar Listing LA. As entertaining as these shows are, they often depict a world of quick sales, high commissions, and flashy parties, but the reality is far different.

Real estate agents face intense competition, long hours, and the constant need to prospect for new clients. These shows tend to gloss over the daily grind and numerous challenges that agents encounter. For example, they often leave out the rigorous process of obtaining and maintaining a real estate license, the financial risks involved, and the emotional highs and lows of closing deals.

They also seem to leave out important factors such as taxes and commission splits; agents are lucky to net half of whatever the “earned commission” is on these shows. In reality, agents have to share their commissions with their brokerages and cover their business expenses, which significantly reduces their take-home pay.

The portrayal of transactions on these shows is often misleading. Negotiations, inspections, appraisals, and legal hurdles are typically condensed or omitted entirely, giving the false impression that deals are easily closed. This not only sets unrealistic expectations for aspiring agents but also misleads potential buyers and sellers about the complexities of real estate transactions, not to mention the loads of paperwork.

Additionally, maintaining a successful real estate career requires continuous education, networking, and adapting to market changes, all of which are rarely highlighted in these shows. The constant need to stay updated with market trends, legal regulations, and tech advancements is crucial for long-term success but is often downplayed or ignored on reality TV.

In essence, while reality real estate shows make for great entertainment, it’s important to take them with a grain of salt and understand that they often present a highly edited and dramatized version of the real estate industry. The glamorous image portrayed on screen is far from the everyday reality faced by most real estate professionals.

Can you give our readers an introduction to your business? Maybe you can share a bit about what you do and what sets you apart from others?
My real estate journey is fueled by a love for people and a curiosity that goes beyond just helping someone find a place to live or invest. What makes my approach unique is my genuine interest in who my clients are beyond their housing needs. I love diving into their stories, understanding what drives them and forming a deep connection with the dreams and aspirations of my clients. Los Angeles is a magnet for individuals from all walks of life, each with a huge vision for their future.

What excites me most is the privilege of converting my friends into clients and my clients into friends, walking alongside them as their dreams unfold. Many of them arrive in LA with big ambitions in music, acting, entrepreneurship – you name it. Being part of their LA journey now and in the future, whether it’s leasing their first apartment or buying their first luxury home, is incredibly rewarding. Each transaction feels like a shared victory.

Building my business hasn’t been a walk in the park. It’s been a journey of resilience and growth, navigating the challenges of a competitive market with perseverance and a commitment to always putting my clients first. I’ve learned invaluable lessons about the power of authenticity, the importance of building trust, and the joy of exploring and educating others about LA’s vibrant neighborhoods.

My brand is more than just real estate advising; it’s about making a meaningful difference in the lives of those I work with. It’s about celebrating their successes, sharing their setbacks, and ultimately, helping them find their place in the city of angels.

Let’s say your best friend was visiting the area and you wanted to show them the best time ever. Where would you take them? Give us a little itinerary – say it was a week long trip, where would you eat, drink, visit, hang out, etc.
There’s so much to do and see around LA. Since moving here, I’ve bounced between living on the Westside and the Sunset Strip. Both areas have their own unique, unmatched energies. Nothing beats a morning walk along the Venice Canals or a drive up PCH. On nights out, there’s nothing quite like the excitement the Sunset Strip brings. I can’t imagine taking a whole week off work, but this is how I’d pack the best of what LA has to offer into a weekend.

An ideal itinerary on the Westside would start with a cold brew from either Dogtown Coffee in Ocean Park or Menotti’s in Venice, followed by a walk down Abbot Kinney and a quick sandwich at All’Antico Vinaio or a breakfast burrito from Great White. LA is all about the outdoors, and the Westside has some of the best hiking trails around, so would try to incorporate some hiking into the schedule. If traffic permits, we’re hitting Malibu. On the drive up, I’d call every friend I know with a Soho House membership in hopes they’re already at Little Beach House. This typically works out in my favor, but if we strike out, we’ll relax at Carbon Beach or Paradise Cove before grabbing dinner at Taverna Tony at the Malibu Country Mart or Angelini in the Palisades Village. No Westside night would be complete without cocktails at either Elephante or Belles and a peek inside Winston House to see who’s playing that night.

Now over to West Hollywood, where brunch is not to be taken lightly. If we’re keeping it casual, Dialog Cafe or The Butcher, The Baker and Cappuccino Maker are good choices. The lines there can be long and unpredictable, so there’s a high chance we’ll end up at Bravo Toast, which never ever disappoints. For a more formal brunch, we’re heading to Beverly Hills. The Polo Lounge at The Beverly Hills Hotel, The Terrace at The Maybourne, and The Ivy on Robertson are all safe choices. If it’s a Sunday, we’re stopping by The Melrose Trading Post. If you’ve ever wanted to buy a vintage graphic shirt of a band you’ve never listened to or a motorcycle you’ve never ridden, the Trading Post is the place for you. The most underrated lunch spot, in my opinion, is at the Sunset Tower. Yes, lunch, not dinner. The WiFi on the terrace is strong if you need to do some work, the food on the lunch menu is fantastic for the price, and the staff, Barbara and Tony, are incredibly hospitable. For dinner, it’s usually Cecconi’s, Craig’s, or Casa Madera. However, there is such a vibrant restaurant scene from Century City to Hollywood, it’ll take way longer than one week to explore all the best spots. There is no shortage of entertainment on the Sunset Strip. After dinner, we’d pay homage to LA’s glory days by catching a performance at The Whiskey, Viper Room, or Troubadour, followed by a late-night comedy show at the Comedy Store or Laugh Factory. Last but not least, my best friend wouldn’t be allowed to leave LA without riding the Saddle Ranch bull…. very important.

The Shoutout series is all about recognizing that our success and where we are in life is at least somewhat thanks to the efforts, support, mentorship, love and encouragement of others. So is there someone that you want to dedicate your shoutout to?
I have been beyond blessed for the amazing friends and mentors who have shaped my journey. I truly believe that nothing significant can be achieved alone.

A heartfelt thank you to my parents for always encouraging me to embrace new opportunities. To my first “business partners,” Devin, Jake, and Jose, thank you for the wild journey we had as a few East Bay kids traveling the West Coast, forming our first LLC and selling our custom clothes from the back of a bright orange 1969 El Camino that we fixed up and eventually wrecked in our high school parking lot.

I owe a great deal to Jon Standring, president of Beachside Partners, who took a chance on me and mentored me throughout my time at UC Santa Barbara. His guidance steered me towards getting my real estate license at 20 years old and learning the principles of wealth creation through commercial real estate.

To Kevin Stewart, founder of The Stewart Team at The Agency, thank you for bringing me onto the Beverly Hills real estate scene, constantly inspiring me to strive for personal excellence and for being one of the best friends a guy can ask for.

Lastly, to James Harris, David Parnes, Kris Everett, Sam Collins, AP, and everyone on my incredible team at Bond Street Partners, thank you for your support, guidance and providing me with a platform to elevate my career. Regardless of how busy we get selling billions of dollars of real estate a year, we always still manage to have a great time!

Website: https://bondstreetpartners.com/agents/mike-wagner/

Instagram: https://www.instagram.com/mikejcwagner/

Linkedin: https://www.linkedin.com/in/mike-wagner1/

Other: https://g.co/kgs/Uv5oAEg