Originally from a small town in Norway, Merethe “Siv” Cotton began her work with Engel & Völkers by opening the Santa Barbara, California shop in 2017. She increased active listings by nearly $35 million and recruited many of the region’s top-tier real estate agents. Siv also assisted with the opening of Engel & Völkers Santa Ynez and welcomed Kris Johnston’s Central Coast Landmark properties.
Before Engel & Völkers, Siv worked in sales, appeared on a television reality series, and owned a spa in Southern California. She is now the Vice President of Sales in the Beverly Hills office and continues to grow the brand locally year after year.
1.
Paul & Vince: What are the best things about living and working in your market?
Siv: Of course, in Los Angeles, the weather is amazing. The sun always shines. And the city being right on the coast it offers so much…you have Santa Monica, Malibu, and Hollywood…so many beautiful hidden gems.
Paul & Vince: How does it compare to other parts of Southern California?
Siv: Well, in L.A. everything is close to you. It’s a very cultural town. Of course, I love shopping, which is unparalleled, but you also have fantastic theatre, music venues, and film festivals…there’s so much to do.
2.
Paul & Vince: What did you do before coming into real estate?
Siv: I first came to this country from Norway as an 18-year-old. I put myself through college, and then since I was always good with people, I spent almost ten years in a pharmaceutical company where I did everything from sales to training to be a regional director in the end.
And then I owned a full-service spa for five years, which I later sold for a good profit. And then I was also on television for 11 years in a show called Svenska Hollywoodfruar, or Swedish Hollywood Wives. It was like all the “Real Housewives” shows in Hollywood, except we were all Scandinavian. All those things make for a diverse personality to handle sales.
Paul & Vince: Amazing. So what finally brought you to Engel & Voelkers?
Siv: Well, I had been flipping homes and developing properties with my ex-husband, so I was experienced in real estate. As I had management experience, it was a perfect match when Engel & Voelkers wanted to expand in California.
3.
Paul & Vince: So, what’s happening in your real estate market?
Siv: The market is in flux right now, where…I wouldn’t call it a full-blown buyer’s market. But let’s not forget to talk about Measure ULA, or the “mansion tax.” In addition to the city tax that we have at 1%, there will be an additional 4% tax on properties that sell for $5 million or more. If the property sells for $10 million or more, the tax goes up to 5.5%. And it’s unclear if it will deter real estate developers planning to build more housing.
4.
Paul & Vince: What do you like most about your career in real estate?
Siv: I think it’s usually exciting. We came out of two years of insanity where an agent got the seller maybe, $400,000 more than asking. And here, of course, the properties here are so legendary– they’re all over television. So many stories and personalities. It’s great to be in the middle of all that.
Paul & Vince: We can certainly relate to that in New York.
Siv: And as a manager, I love this idea of “tribe,” as in when I ask an agent, “To whom do you sell?” Because that’s how one agent sells $10 million houses, and another just sells $500,000 homes. They relate to their tribe. It’s interesting to me to pinpoint and figure out how to expand that sphere of influence.
…and one more, Just For Fun
Paul & Vince: Ok, now it’s time for our Just For Fun question. If you could choose a fun, even illogical activity to add to your job, what would that be?
Siv: Well, I already have fun on the job. But…skiing? I do love to ski. Yes! [Laughs] I wish there was skiing in L.A. That would be perfect.
Paul & Vince: So, you would add skiing to your daily routine?
Siv: Absolutely! I would ski to the office! And, it would even be more productive, flying down the street! I wouldn’t sit in traffic. And I’d wear my favorite ski suits, like Lady Gaga in House of Gucci. [sighs] That would be fabulous!
Original artwork by Jolisa Robinson, Gavriani-Falcone Team Marketing