We live in an increasingly global marketplace. When I launched The Agency in 2011, I understood that luxury real estate was a global enterprise. Since then, my passport has been one of the most valuable tools for expanding my network and opening doors to opportunities in every corner of the world — allowing me to forge relationships that have been the cornerstone of my professional success.
As with any business, relationships are the foundation, and they begin with a simple handshake greeting that becomes the catalyst to building an enduring rapport — one client at a time.
My travels have taken me from London to Dubai and to the South of France and Japan. I’ve walked construction sites in Cabo San Lucas with developers planning the next wave of resort communities. I’ve toured historic estates with clients seeking a foothold in Europe. I’ve hosted client dinners with investors around the globe who are curious about Los Angeles’ trophy properties.
Each trip has deepened my understanding of the people, cultures and lifestyle preferences that drive the global luxury market.
Meeting clients where they live
Wealthy clients often own multiple homes, and shift their investments across borders depending on the economy, tax structures and lifestyle priorities. They may keep a primary residence in Beverly Hills, a ski chalet in Aspen, and a beachfront villa in the Caribbean.
Many gravitate to some of the world’s biggest, most populous cities and coveted destinations. Others invest in emerging markets where they see potential for appreciation or unique lifestyle experiences. Portugal and Spain have captured this particular spotlight in recent years.
Traveling has helped me meet new people where they live, and more crucially, it’s helped me to see how they live. Reading about a place or talking over Zoom gives you far less insight into someone’s life.
By contrast, sipping espresso in the Italian piazza nearest their home is likely to provide a better understanding of their motivations and deepest desires — not to mention learn about their culture, habits and personal life. My network is the culmination of building connection and nurturing relationships for decades.
Understanding cultural values
Travel has provided tremendous insight into the values, architectural styles and property features that are likely to be important to my offshore contacts. Someone from Dubai might be partial to ultra-modern high-rise condos, while a person from Mexico or the Caribbean might value indoor-outdoor living. A Parisian might insist on walkability, historical architecture and proximity to great cafes.
The more I travel, the better I understand these preferences, which helps me curate unique listings to show to foreign buyers as I guide them through California’s property market.
Travel has also sharpened my instincts about how to effectively market a seller’s property to an international audience. Getting to know each of my clients as individuals has helped me to anticipate their preferences and desires, and present them with opportunities that are deeply aligned with their interests and goals.
Broadening the buyer pool
Expanding your global network is like widening the aperture on a camera lens, allowing you to bring more of the world into focus, and with it, more potential buyers for any given listing. For your highest priced listings, where the local buyer pool for seven-, eight- and nine-figure properties may be relatively small, knowing agents and their clientele in London, Tokyo or Sydney can help you introduce the right buyers to the right properties — even when they’re halfway around the world.
Some of my most memorable transactions have come from matching a distinctive or unusual Los Angeles property with a buyer from abroad, who saw its value in a way local buyers might not have. Really knowing my clients on a personal level amplifies my success ratio in matching the right property to the right buyer at the right time — and there’s really no shortcut here except to build genuine, authentic relationships and put your clients’ best interests at heart.
The power of a global referral network
Building a global network has helped me be more effective in helping clients interested in expanding their portfolio internationally. Understanding the many nuances of other markets has helped me make referrals judiciously, connecting clients to their ideal, well-matched agents around the world.
Again, knowing their preferences and how they operate is essential here. Those agents, in turn, have introduced me to clients who were looking for a property in California — or in one of the 14 countries where The Agency operates — and I’ve built connections with those referrals, too.
Facility with other languages is not a prerequisite for building relationships and establishing a global network. I’ve built trust with high-net-worth individuals and the agents who serve them without being multilingual — though I am fluent in Spanish. Many speak English, but what matters most is that you provide exceptional service with respect, integrity and consistent follow-through.
When you invest in relationships, your reputation grows internationally — and when you deliver for a client in Monaco, there’s a good chance they’ll mention your name to a friend in Geneva or Miami. That’s how networks grow, and in the highest echelons of wealth, word travels fast.
Gaining a global perspective
Beyond its many business benefits, globetrotting is simply good for your soul, and has made me a better human being. Spending time immersed in other cultures gives you perspective on your own life and home, your market, as well as on the global economy. Seeing how people live, what they value and how they build community has shaped the way I think about service and connection.
In a business built on trust, expanding your horizons is never wasted time. Every trip is an opportunity to cultivate connections that transcend borders.
Mauricio Umansky is the founder and CEO of The Agency in Los Angeles. Connect with him on Instagram.
