Billy Rose and Mauricio Umansky, co-founders of The Agency, were recently featured by the Wall Street Journal in a story on the “chase for the multi-million dollar deal.” The two were photographed sitting in the gorgeous living room of the Angeleno Residence at The Carlyle. Designed by Oliver M. Furth, the fully-outfitted 2,772-square-foot, two-bedroom residence with two and one-half bathrooms is available turn-key for $3,600,000.
The article explores the methods and resources that luxury brokerages use to attract buyers and seller of multi-million dollar homes. The “spray and stay” approach of yesteryear, which involves spreading the news of a listing and hoping buyers will emerge, has become outdated and inefficient with the changing landscape between buyers and real estate, especially with inventory down and prices going up.
“In today’s world, where potential buyers for a home in L.A. can come as easily from Shanghai as they can from Beverly Hills, you have to use more sophisticated methods,” said Billy Rose, who also appears on the cover of the Mansion section of the WSJ.
The driving force behind The Agency’s success, the article notes, lies in an “intelligence” database that collects and tracks information about high net-worth individuals. The WSJ article notes how this system—the specifics of which are “hush hush”—collects and tracks highly relevant and specific information about high net-worth individuals.
Consider a wine enthusiast who might want to live on a ranch-style home or vineyard, or a luxury car connoisseur who dreams of showcasing their impressive collection in his own car museum. The database allows agents to not only peek inside the hobbies and interests of wealthy individuals but also see who their closest associates and friends are and contact them that way.
That’s not to say that The Agency’s agents won’t pull out all the stops—private chef, DJ, you get the picture—for a truly remarkable property, yet their main focus remains on the clients themselves and what they desire in life and in a home.