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The Altman Brothers of Douglas Elliman and Bravo’s Million Dollar Listing Los Angeles have expanded operations into Arizona through a strategic partnership with The Grigg’s Group, the team told Inman exclusively.
The new partnership builds on a decade-long relationship that the team has nurtured with Scott Grigg, founder of The Grigg’s Group. Over the years, the two teams have sent referrals each others’ way, and Grigg has even appeared on several episodes of Million Dollar Listing L.A.
The partnership will see the launch of a new boutique luxury brokerage called Grigg’s Group Powered by The Altman Brothers, with an office location in Scottsdale’s Camelback Corridor.
“Scott and Matt and I have been sending deals back and forth for a decade now,” Josh Altman told Inman. “We’ve been doing probably about 10 to 15 deals per year, back and forth, [and] have become very dear friends. And we were waiting for the right time to do this; we were talking about it for three years. When you get into business with friends — and he’s considered family — you just want to make sure you do it right and you do it at the right time.”
As home prices in Scottsdale started to shoot up in the wake of the pandemic, the time felt right to solidify a partnership, Grigg said.
“With what’s happening right now with the Arizona luxury market, we saw an opportunity to really move forward and take the time to do this new venture together,” Grigg told Inman. “Our price points here have really exceeded [post-]COVID. After COVID hit, we saw our prices in the luxury market jump considerably here. And right now, average pricing for a luxury market home in Paradise Valley or Scottsdale is really pushing that $5 million or $6 million market, with a lot of properties now trading on a weekly basis in that $10 million range.”
Combined, the teams have more than 20 years of real estate experience and $8.3 billion in career sales. The new firm will largely serve Paradise Valley, Scottsdale, Arcadia, Biltmore and surrounding areas.
In recent years, the trio of Matt and Josh Altman and Grigg have proven their ability to perform in the market with notable sales like 5650 North Wilkinson Road in Paradise Valley for $8.5 million, and 37200 North Cave Creek Road No. 1031 in Scottsdale for $6.65 million.
In addition to providing an official referral line between California and Arizona clients who are relocating from one state to the other, the partnership will also give Grigg’s Group more global recognition with the far-reaching influence of the Altman Brothers brand.
“Now we’re combining forces with a top broker on an international, global platform that will allow the local listings here to have a completely different exposure,” Grigg said. He anticipates that in addition to an increase in referrals from California, the firm is likely to see more referrals come in from places like Seattle, Chicago and New York.
Grigg founded The Grigg’s Group in 2009. The new office, which will officially open in the first week of November, will serve as a home base for about 25 real estate agents.
“The Altman Brothers and Grigg’s Group is a force to be reckoned with,” Matt Altman said in a statement. “Our shared vision and commitment to excellence is poised to elevate the way real estate is conducted in Arizona.”
Josh Altman also confirmed that he and his wife, Heather (the team’s CEO), are currently house hunting in Arizona, too.
“When we really go in, we go in full speed,” Altman told Inman. “We like to cannonball into the pool — or should I say the market — not just dip our toe in. We are currently looking for a house out there, Heather and I, so we can spend a lot of time out there, just like we did down in Newport.”
This spring, The Altman Brothers also signed a new multi-year contract to remain at Douglas Elliman.