How Mauricio Umansky built a $57 billion real estate empire

“I remember thinking in 2008, during that recession, that if I had the opportunity to buy a bunch of real estate, I would have a lot of money right now,” Mauricio Umansky, wearing casual jeans, a gray blazer and a white dress shirt told the Post from his new office space in New York City, just off Union Square.

Umansky, who has earned a reputation as the loyal and charismatic husband of Kyle Richards, mostly from “The Real Housewives of Beverly Hills,” was in town to attend two events: the largest real estate convention in the country – the Inman Real Estate Convention — and to celebrate its new Manhattan headquarters.

But while the 52-year-old may not yet have money in Monaco, he has spent the past decade building a real estate empire, with a global sales volume of $57.4 billion since its founding in 2011.

By 2013, two short years later, The Wall Street Journal ranked him the No. 3 residential broker in the country and the No. 1 seller in California, with nearly $380 million in prior year transaction volume.

Umansky attributes much of his success to launching his own firm a few years earlier, known as The Agency, as a real estate agent for his brother-in-law, Rick Hilton, at the luxury real estate company Hilton & Hyland. Was working

He was earning over $200,000 in commissions and was known as their No. 1 agent for more than eight years straight.

Mauricio Umansky built a $57.4 billion empire spanning a decade.
Mauricio Umansky’s “agency” has expanded to more than 70 offices.

“You know what I did at that point is I really started being a contrarian as a real estate agent, and I started buying. I owned the LA Times from an advertising perspective. So If you opened the LA Times, it was like 30 pages and I was on 20 of them,” Mauricio said.

Fast forward to 2022, and Umansky’s real estate firm has expanded With over 70 offices across the United States. There is also a presence in Canada, Mexico, the Netherlands, Turks and Caicos, the Dominican Republic, the Cayman Islands and the Bahamas.

His company generated $12.4 billion in sales volume that year, up from $11.3 billion in 2021. Their listings mostly stay in the eight-figure range.

Umansky said, “My goal is to become the world’s largest global luxury real estate boutique.”

Still, his success was not without its challenges against fellow rivals, admitting that the size of the real estate company, Compass, at one point took its toll.

“We were born at the same time, six months apart on different coasts – with similar idealisms and cultures. He just raised $2 billion, and I raised $1 million. And I didn’t even raise it, I put it And so we grew up, you know, he grew up with a $2 billion kitty and I grew up with a $1 million kitty.

He continued, “They’re our competitors, but they’re our allies… We do a lot of business together. Our agencies do co-listing. But by the way, when you’re selling a home, and you have There is a buyer and a seller representative, so we are collaborating. I need them to sell my product and I want to sell their products… so I don’t see it as a big competition. I want That they do well. So that’s it for me, it’s not a race. I’m just concerned about how we do.

Mauricio Umansky with wife Kyle Richards and their four daughters.
Mauricio Umansky with wife Kyle Richards and their four daughters.
Instagram / kylerichards18

Meanwhile, this brash but seductive entrepreneur has four daughters — Farrah Brittany Aldjufree, 34, Alexia Simone Umansky, 26, Sophia Kylie Umansky, 23, and Portia Umansky, 14 — to keep the company running for years to come.

In his new Netflix series, “buy beverly hillsViewers got a different taste of the man who has been described as one of the “Hottest House Husbands”.

The show follows the dynamics of their daughters and the real estate agents who compete for listings to make it within the firm.

When asked how he handles the feelings between his daughters and the other agents at the firm, he calls the competition between each firm “normal”.

“I wouldn’t necessarily call it competition, it’s just part of the business,” Umansky said.

As for what he eventually hopes to accomplish, Umansky said, he’s hoping his firm can stand its ground on quality over quantity.

“Bank of America is the biggest, but I want to be Goldman Sachs.”

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