M
auricio Umansky is a versatile entrepreneur who has made a name for himself in various fields. At 26, he launched the clothing brand 90265, which pioneered several fashion trends. He later founded The Agency RE, an innovative brokerage, and recently created a real estate agent trade group as an alternative to the National Association of Realtors (NAR). Umansky has also appeared on reality TV shows, including Netflix's "Buying Beverly Hills."

    Umansky discussed his brokerage, The Agency, with HousingWire reporter Jeff Andrews. He mentioned that his new trade group, the American Real Estate Association, is gaining traction, with over 6,000 sign-ups. Umansky emphasized that his goal is to improve the industry and provide a better experience for real estate professionals and consumers alike.

    Regarding the National Listing Service, Umansky stated that it's essential for improving the industry but declined to reveal more information about its development. He also discussed Aclara Lending, a joint venture with Barrett Financial, which aims to expand into mortgages due to the need for brokerages to diversify their revenue streams.

    Umansky believes that brokerages with ancillary businesses are better equipped to handle potential commission drops. He noted that many brokerages rely heavily on commissions and may struggle if rates decrease further. The Agency is recruiting agents but focuses on attracting those who share its values, rather than engaging in aggressive recruitment tactics.

    When asked about the impact of the NAR settlement, Umansky stated that it's creating a lot of noise in the industry, but brokerages need to educate their agents and adapt to the changing landscape. He emphasized that commissions have always been negotiable and that real estate professionals must be prepared for this new reality.

    Umansky also shared his thoughts on current fashion trends, expressing his love for Italian interior design and furniture. He believes that suits are making a comeback and would like to see a shift away from prominent labels on elegant clothing items.