I'll take a stab at it. Please forgive formatting errors, message boards aren't suited for screenwriting.
INT. PALOMA'S APARTMENT - DAY
Paloma, a tall, thin, and gorgeous twenty-something sits on her couch. She is reading a fashion magazine, on the cover is a glamour-shot of her.
The doorbell rings. Paloma walks to the door and opens it. There is a skantily-clad young latino man looking up at her with puppy-dog eyes.
PALOMA
Sergio?
SERGIO
Si.
She looks him up and down.
PALOMA
How much?
SERGIO
Que?
Paloma rubs her thumb and forefingers together in the space between her and Sergio.
PALOMA
(slowly)
How Much?
Sergio hold up his hand as if to wave.
SERGIO
(through a thick accent)
Five hunred. Una hora.
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There you go. That's how I would do it.
And you would have us believe the audience gets from that :
1. Sergio is a gigolo.
2. Paloma has hired him for a session?
How does the audience get this from your scene -- through telepathy?
Meanwhile, my scene simply tells them and moves on:
PALOMA (ON PHONE)
He’ll be here any minute now. His
name is Sergio. He charges $500 an
hour, but Tyra says he’s worth
every nickel of it. Oh, and here’s
the cute part: He doesn’t speak a
word of English -- hehehehe...
isn’t that fun?
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Your scene is not an improvement; it's a complete fail. In your scene Sergio could be her drug pusher, landlord, auto mechanic. And the shot of her on the Glamor Magazine might not work at all if the photography isn't perfect. Moreover, it simply doesn't tell the key detals (friends with Tyra) my short paragraph tells.
Look, you're trying to make a case for dialog NOT containing establishing or background information and that's a foolish case to try and make. Background dialog is a staple of drama -- the only rule is that it be done concisely.
Your scene is silly. It doesn't add clarity -- it removes clarity. It takes the adage "show don't tell" and misuses it. There are times in drama where telling is the best way to transmit key information.
Your scene also cuts the glimpse of Paloma's character we get from her opening dialog.
You eschew opening dialog for no other reason than you know how to type.
But let's move on...
What else would you cut or rearrange?