Mauricio Umansky is a name synonymous with real estate worldwide.
Since he co-founded The Agency in Beverly Hills, California, in 2011, the real estate guru has gone on to build a $57 billion real estate empire.
Oh, and you’ve probably caught him on an episode or two of Selling Beverly Hills, which has been renewed for a second season.
So how did he get to where he is today and what are the keys to his success?
Mauricio sat down with top US coach Tom Ferry on his podcast to reveal the powerful business tactics he used to disrupt the real estate industry in the US.
He also revealed the top five traits he says agents need if they want to be successful.
Do you have them?
Mauricio emphasises that confidence is key in an agent’s success. Having confidence in yourself and your abilities instils trust in clients and helps you navigate challenges with a positive mindset. It allows you to project a sense of expertise and professionalism, which can attract clients and create opportunities.
“You can’t fake stats, you can’t fake knowledge… So, in order to fake your character, you gotta have the education,” he says.
Mauricio stresses the importance of knowing the ins and outs of the real estate market like the back of your hand.. This includes understanding property values, market trends, local regulations, and financing options.
Being well-informed enables you to provide accurate and valuable advice to clients, positioning you as a trusted resource. Continuously updating your knowledge ensures that you stay ahead in a competitive industry.
“If I’m selling Corona del Mar or I’m selling Newport, well damn, I better know the tax rolls, I better know every order of every house, I better know every deal that went down the last three years, or five or 10 years. I better know every active listing,” he says.
Building personal relationships with clients is a crucial aspect of success in real estate. Mauricio highlights the significance of knowing your clients on a deeper level, understanding their preferences, and catering to their specific needs.
By creating personalised experiences and showing genuine care for clients, you can forge long-term connections and gain referrals, enhancing your reputation and business growth.
“You gotta build a lead, a drip campaign. You gotta touch those people on a constant basis… Get somebody to connect with you. Call them by their name… By the time they leave, I call them by their name again,” he says.
Mauricio shares his frustration with outdated practices in the industry, emphasising the need for agents to adapt to change. Staying up-to-date with emerging technologies, digital marketing strategies, and innovative approaches enables you to remain competitive.
Embracing new tools and systems that streamline processes, enhance efficiency, and improve client experiences can give you an edge in the market.
- Mindset and decision making
Mauricio encourages agents to develop a strong and independent mindset. This involves trusting your instincts and making decisions based on your own assessment of a situation.
While seeking advice and input from others is valuable, ultimately, agents need to rely on their own judgement. By cultivating a confident and decisive mindset, agents can navigate challenges, seize opportunities, and stand out in a crowded industry.
“When I ask you for advice, I don’t want you to tell me what you think I want to hear. I want you to tell me what your mind is telling you,” Mauricio says of the agents he hires.
“I’ll make the decision whether I like it or not. You might influence me one way or the other, but I want that mind, that’s the mind I hired.”