Mauricio Umanski has been at the helm of The Agency for the past 15 years.
The founder and CEO of a luxury brokerage has experience in all types of markets, has appeared on reality TV, and is currently the co-founder of the American Association of Realtors, an up-and-coming professional association.
But events in the industry, and the world at large, still surprise him, he told Inman, musing, “You never know what’s going to happen in this world.”
At least one thing is for sure: Inman Connect New York attendees can expect to see Umansky’s vibrant personality light up the stage when he speaks at the event on February 3, 2026 at the New York Hilton Midtown.
Ahead of his attendance at ICNY, Mr. Umansky spoke with Mr. Inman about some of the latest headlines and what attendees should prepare for in New York. The following is his statement, edited for brevity and clarity.
Inman: We just completed a big merger between Compass and Anywhere. Were you surprised that the deal went through? What are your thoughts?
Umansky: I’m not necessarily surprised that it passed. I’m surprised how easily there was no request to remove a particular spot in any market. Like market power…. So when we did the @properties deal, we were forced to sell some places. But in this deal, they did no such thing, the federal government. So it was a little shocking. But was I shocked that it passed? no.
Do you think this deal and its impact will change the broader M&A landscape in the industry this year?
I think that will happen. I think we will see more and more M&A from now on. But by the same token, Compass and Anywhere have nearly completed their M&A, and you have to imagine that opportunities are opening up for other companies as well. I mean, I can’t imagine they’ll have a chance to do anything bigger. And they have a lot of work to do just to run it. I think it will be taken out of the market from a size perspective as well.
So I think that will create opportunities for other securities companies as well. I also think that a lot of other brokerages really, really need to consolidate and collaborate, even if it’s not in a true M&A type of situation. We need to work together in terms of having market power and market power at the same time. Because it’s such a powerful market power that we all need to come together to make sure we protect ourselves. [against it].
Is that something you have in mind specifically for The Agency?
yes.
Then we need to pay attention to it. Thinking further about how the market will play out more generally in 2026, what do you think will be the key themes for 2026?
Trading volumes are still very low. It needs to be improved.
Interest rates are coming down, but you’ll need them a little lower to start buying. We still need to fix affordable housing in this country.
I think integration will be important.
With respect to NAR, Compass, and Zillow, I think there’s going to be a lot of change in the world in terms of the strength of the market and the gathering of people. What will happen to these exclusive listings and off-market listings? NAR has a lot to fix and a lot to do.
Now with the market power that Zillow and Compass have, it will be interesting to see what happens there. Therefore, data, or inventory, becomes important.
More brokerages will move more aggressively into ancillary businesses. Mortgage, title, escrow, everything else.
The competitive market created primarily by Compass over the past decade has really compressed the agent divide. Brokers are going to struggle over the next three years as agent splits are compressed and trading volumes are down – valuations are still low. That creates opportunities. I think that’s all I gave you. [laughs].
Yes, there is certainly a lot to think about. Let’s also talk a little bit about the American Association of Realtors. It seems like you guys are building the ranks and organization of your members more generally. What’s the latest news?
I think we’re approaching 30,000 members, which is a solid number. And you know, we hired Mary Frances. [Coleman] Run it. We have some really great partnerships with several different companies and we like to offer all kinds of things to real estate agents, from advocacy to perks. And I think 2026 will be a key year for us to achieve really strong results by 2027. 2026 will definitely be a year of further development.
And no one knows what will happen in this world. I don’t know.
Yes, I thought I’d ask the question because it’s all over the headlines, given the global uncertainty at hand. There is a lot of rhetoric surrounding Greenland at the moment. And I know that The Agency is truly a global brokerage today. Are you concerned about that rhetoric and how it will affect your business and relationships in other countries?
In other words, [The Agency is] I’m not in Greenland yet. I don’t know how [large] The population is there. But look, the world is in a mess right now. It’s everywhere. And thankfully, we are very connected. We will also start operations in Saudi Arabia. [Arabia] this year. we are very much looking forward to it. There are a few other things we haven’t announced yet, but we’re preparing them. And we will continue to grow as a global company.
Some regions are thriving, while others are not. But we are looking forward to growing and surviving.
Well, that’s good. So, on a different note, as you prepare for Inman Connect New York in a few weeks, is there anything you would like to share with those attending the event?
The timing of this event is great. It’s nice that it’s the beginning of the year.
I think the agents that go out there and spend their time, AI is a big part of it. Old agents, veterans who have been around forever, must embrace new technology to remain relevant over time. They all have their own relationships and will continue to have them. But if you want to build new relationships, be relevant and leverage them, or your business will shrink.
Because we have all new agents using all these tools. New agents are born with all of these tools and become very efficient, forcing older agents to adapt and use them. It’s part of their generation.
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Email Lillian Dickerson
