The Agency’s CEO and Co-founder Mauricio Umansky recently appeared on FOX Business to discuss the current state of the luxury real estate market on the west coast.

Mauricio shares that $30 million seems to be the new $20 million when it comes to the high-end of the luxury market in Los Angeles and notes that The Agency recently represented a home that sold for over $70 million. He also states that foreign buyers see the US as the safest place to invest in real estate right now, and that with the media in China opening up more, Chinese investors are becoming more familiar with Los Angeles and interested in buying homes here.

For the full discussion, watch the FOX Business segment here.