If you've ever watched "The Real Housewives of Beverly Hills," you're likely familiar with Kyle Richards, the loyal and charismatic husband of Mauricio Umansky. But did you know that Umansky has been quietly building a real estate empire over the past decade? With a global sales volume of $57.4 billion since its founding in 2011, Umansky's success is nothing short of impressive.
The Early Years and Rise to Prominence
Umansky's journey to success began with his work as a real estate agent for his brother-in-law's luxury real estate company, Hilton & Hyland. During his time there, he became known as the No. 1 agent for more than eight years straight and earned over $200,000 in commissions. This experience proved to be invaluable and laid the foundation for his future endeavors.
In 2011, Umansky launched his own firm, aptly named The Agency. Within just two short years, he was ranked the No. 3 residential broker in the country by the Wall Street Journal and the No. 1 seller in California, with nearly $380 million in transaction volume. His success was a testament to his contrarian approach, as he seized opportunities during the 2008 recession and made strategic investments.
Expanding the Empire
Today, Umansky's real estate empire has expanded across the United States, with over 70 offices. But it doesn't stop there. His company has also made its mark internationally, with a presence in Canada, Mexico, the Netherlands, Turks and Caicos, the Dominican Republic, the Cayman Islands, and the Bahamas. In 2022 alone, The Agency earned a staggering $12.4 billion in sales volume, surpassing its previous year's record of $11.3 billion.
Umansky's goal is simple yet ambitious: to become the biggest global luxury real estate boutique in the world. To achieve this, he understands the importance of finding the right global partners. While he can't physically be present in all these locations at once, he believes that collaboration and cultivating strong relationships are the keys to his continued success.
Embracing Competition and Looking Ahead
Umansky's journey hasn't been without its challenges. Competing against real estate giant Compass, which raised $2 billion compared to his initial $1 million investment, forced him to think strategically and adapt. However, instead of viewing Compass as a rival, Umansky sees them as collaborators. Their agencies often co-list properties, highlighting the spirit of mutual success.
With his four daughters by his side, Umansky is poised to take his company to new heights. In his Netflix series, "Buying Beverly Hills," viewers get a glimpse of his family dynamics and the competitive nature of real estate agents vying for listings within The Agency. Umansky takes it all in stride, acknowledging that competition is part of the business.
As for his ultimate goal, Umansky hopes that The Agency will be known for its commitment to quality over quantity. He draws inspiration from the banking industry, stating, "Bank of America is the biggest, but I want to be Goldman Sachs." With his determination, entrepreneurial spirit, and strategic mindset, there's no doubt that Umansky will continue to make waves in the real estate world.
Mauricio Umansky’s “The Agency” has expanded to 70-plus offices.
Mauricio Umansky with wife, Kyle Richards, and his four daughters. Instagram / kylerichards18
Mauricio Umansky's journey from a real estate agent to a real estate mogul is an inspiration to aspiring entrepreneurs. Through his dedication, strategic thinking, and ability to adapt to challenges, he has built a $57 billion empire that spans continents. As he continues to expand his reach and collaborate with industry peers, Umansky shows us that success is not a race, but a continuous pursuit of excellence.
