A new era in real estate brokerage firms is upon us, according to Mauricio Umansky and Billy Rose. Two of Los Angeles� top real estate groups, The Umansky Group and Rose + Chang, announced this week a partnership for just that: a different kind of real estate firm, The Agency. Billy and Mauricio chatted with REALTOR.com yesterday about their new business venture.
According to the pair, The Agency will be a place where agents are excited to go to work every day and where the family atmosphere will make them more successful in tough economic times when Realtors work twice as hard for half the pay.
Mauricio explained they were both inspired by Delivering Happiness, a book written by Zappos CEO Tony Hsieh, which points out that happiness can be a model for success in business. The Agency will incorporate the culture of happiness and set out to help agents feel like they aren�t alone. Billy likened the new model of their real estate agency to a law firm: customers won�t get one agent working for them, but rather an entire team of associates.
Both emphasized this will be a small, boutique agency focused on excellent customer service since the brokerage world is currently saturated with many large agencies. Another defining factor of The Agency is its new development division. Instead of using out of town representation for new properties, Los Angeles developers selling in luxury high-rises can count on the Agency�s local expertise. AEG has just hired the team to sell residences in the Ritz-Carlton, Los Angeles at L.A. Live. The group has also won the contract to sell luxury condominiums at Solair in Koreatown for ST Residential.
Though their entrepreneurial spirits led them both to this move, Billy and Mauricio are certainly not new to luxury real estate. Mauricio was recently ranked 7th on the list of best real estate agents in the US by Wall Street Journal and REAL Trends, Inc. He grossed $185,302,000 in sales in 2010, the highest of any Los Angeles agent. Billy is known around town for his design and architecture expertise; in fact he started as a designer and developer at the luxury level and, along with Blair Chang, he founded the Architectural Division at Prudential California Realty � Beverly Hills.
The Agency will focus on luxury properties and growth and expansion will take place through different offices and internationally. Mauricio pointed out that many international buyers are finding their way to Los Angeles. He believes decreasing home prices and devaluation of the dollar are making international buyers want to invest in the US. Also, Los Angeles is a great place to vacation and have fun.
Mauricio and Billy listed the attributes an agent must possess to thrive in the luxury real estate market: superb customer service, the ability to do high-powered networking, negotiation skills, people skills and communication skills. Since they�ve paired up to sell homes in the past, Billy and Mauricio know their different but complementary skill sets will serve them well in their new venture. They also know their reputations as ethical and respected agents will benefit The Agency.
Read more: Mauricio Umansky and Billy Rose Launch "The Agency" With A Focus On Service | REALTOR.com� Blogs
