The Agency’s founder and CEO Mauricio Umansky in Mallorca. | The Agency

The Mallorcan real estate market has recently been taken to “another level” with the dawn of a new era as a result of the award-winning global real estate brokerage The Agency, having opened its new franchise office in Portals Nous, Mallorca after a hugely successful launch in Portugal. Netflix viewers in over 20 countries and in ten different languages will already be very familiar with The Agency and how its licensed agents operate as a result of the Buying Beverly Hills docu-soap which aired at the end of last year.

It not only followed the agents and clients but also gave an insight into the philosophy of The Agency’s founder and CEO Mauricio Umansky and his billion-dollar brokerage that utilises world-class technology and innovative marketing strategies to assist agents and their clients in achieving their real estate goals.
This week, Umansky was in Mallorca and spoke to the Bulletin.

Q.— What are your first impressions of Mallorca?
A. — I’ve travelled to Mallorca on holiday previously and have always enjoyed the amazing weather, food, and people. Now returning to visit with The Agency Mallorca established, I feel like I’ve gotten an insider, local’s perspective of the amazing hospitality and culture here. Mallorca is truly amazing and I look forward to returning again soon.

Q.— You have been filming for another Netflix series, what is the focus of this latest hit series?
A. — We just wrapped filming season 2 of Buying Beverly Hills.
The show follows me, my daughters, and a cast of agents navigating through some amazing properties and deals.
As with season one, viewers will see some of the dynamics between me and my daughters working as a family, the agents working with their teams and each other. New for season 2, we take a couple of trips and are able to showcase more of The Agency family beyond Los Angeles so I’m very excited for everyone to watch and get to know us even more this season.

Q.— How important has the Netflix exposure been for The Agency?
A. — There is no doubt that Buying Beverly Hills has grown our global audience and I think what we built in the ten years leading up to the show really allowed us to showcase ourselves in a way that resonated with the audience.
We’ve been one of the top ranked real estate firms in the United States and as one the most followed real estate brands on social media globally, so when the show launched we had a great foundation to start with.

Q.— How does it feel to be a Netflix star, did you ever imagine that you would become so high profile?
A. — My family has been on TV for the last 14 years with my wife Kyle Richards on the Housewives of Beverly Hills, so we’ve always had some level of celebrity profile and we were used to having cameras in our home. Whether in real estate or on TV, I can never predict how something is going to go but I knew we had amazing properties, amazing agents, and amazing stories to share and I’m just honoured that people enjoy watching it.

Q.— Who is Mauricio Umansky, and what do you feel is most important for people to know about you?
A. — I recently published my first book, The Dealmaker, and the process of writing the book really made me think about this question. In the book, I detail a series of my life lessons and while they all have a business application, the core of the lesson always comes back to a personal drive and relationships.
The book also highlights how I founded The Agency just over a decade ago and have grown it into an international business with over 90 offices across 10 countries.
I think, at the core, I’m a family man and I’m an entrepreneur. I love to compete and I love to win and I’m energised by new ideas and new opportunities. But at the end of the day, I always look forward to spending time and sharing all of it with my family.

Q.— The business is very much a family affair, how important is that for your business, your image and reputation?
A. — I think I’m lucky that my daughters want to work with me, but regardless of whether or not this was a family business, reputation and integrity are the most important things for me in business.
All businesses are businesses of relationships but especially in real estate when you may be dealing with someone’s most important life asset. It is imperative to be honest and trustworthy. It’s the only way I know how to conduct business.

Q.— The Agency has been opening new offices internationally; what is the strategy behind this and what influences pushed you in this direction?
A. — The strategy for The Agency’s growth has always been organic: we seek out partnerships with knowledgeable global partners in key areas around the world.
Our goal is to be a luxury boutique brokerage with a global reach and luxury, to us, is not a price point or specific address but it’s a lifestyle that can mean different things in different parts of the world.
The key is unifying all of our global partners and markets under The Agency brand and worldwide reach to give our clients the greatest exposure for their properties and the highest level of customer service.

Q.— How important is Mallorca to the US market and how is the US market growing?
A. — Right now, Americans are a growing force in the global market as they look to invest in real estate in other countries, especially in Europe.
Mallorca is certainly on the short list of locations for Americans who are considering moving abroad.
Over the pandemic, we saw a lot of people purchase homes in what were normally considered second home markets because people could work remotely from anywhere, and the new culture of remote work allows anyone to look internationally for their next home.
The US housing market went through a downturn in Q4 in 2022 and most believe it is now beginning to recover. It will be interesting to see whether this has an effect on American investment in real estate abroad.

Q.— Why do you think Mallorca will appeal to the American market?
A. — I think everyone is familiar with the resorts and the great food of Mallorca, but there is also an amazing range of outdoor activities, history, and architecture to enjoy as well. With its easy access to the rest of Spain and Europe, Mallorca lends itself to be a great location.

Q.— Are you not a little concerned that Mallorcan properties are perhaps a little overpriced or does the island’s stock offer quality value for money?
A. — Mallorcan properties are a unique investment opportunity that offers a blend of exceptional value and unparalleled lifestyle benefits.
While prices vary based on location, size, and features, it’s important to consider the value and lifestyle that Mallorca offers.
The island’s real estate market has shown consistent growth over the years, underlining the confidence that investors and homeowners have in the long-term prospects of owning property here.

Q.— Do you see Mallorca as a second home, holiday home destination or a full-time destination in this day of digital working?
A. — I think Mallorca can be a primary or second home destination with the ability to work remotely. We are all much more citizens of the world now connected by the internet, and so an international move is much more of an attainable reality.

Q.— What areas of the world are most of the buyers coming from and why?
A. — As I mentioned, Americans are growing in their global real estate investments and buyers from Asia and throughout Europe continue to be notable source of buyers as well.

Q.— Post-Covid are people searching for properties with more space away from the big cities?
A. — Absolutely, the post-Covid era has brought about a significant shift in the preferences of buyers. As we all experienced the challenges of the pandemic, this resulted in a shift where people re-evaluated their lifestyles and priorities, and this has directly influenced their choices in real estate. The pandemic highlighted the importance of having a comfortable and versatile living space, which has led many individuals and families to seek out homes that offer more room for remote work, leisure, and outdoor activities.
Buyers are now looking for properties that provide ample indoor and outdoor space, whether it’s a larger backyard, a private terrace, or access to nearby natural landscapes.
With the flexibility for remote or hybrid work, the allure of island properties has grown stronger, as people are valuing the tranquillity, fresh air, and closer connection to nature than cities provide.

Q.— How do you spend your free time, how do you relax, if you have time of course?
A. — I love to golf and spend time with my family and that’s where you’ll find me when I’m not in meetings, on calls, or filming.