Celebrity real estate agents use spotlight to build ‘trust, credibility’ in volatile market
Tarek El Moussa, Mauricio Umansky discuss how TV exposure has ‘boosted’ luxury real estate market
Tarek el Moussa, Mauricio Umansky talk booming careers
The 'Selling Sunset' and 'Real Housewives' stars discuss how the spotlight helped build their clientele and credibility.
Hollywood is attracting a new kind of star: celebrity real estate agents.
With shows like Netflix’s "Selling Sunset" and Bravo’s "Million Dollar Listing" creating booming fan bases by combining luxury properties with A-list drama, some well-known real estate personalities say television exposure has helped them build their clientele and credibility, even in a volatile market.
"It was definitely life-changing," Tarek El Moussa, host of HGTV’s "Flip or Flop," told FOX Business' "American Dream Home" host Cheryl Casone.
"One day I'm a 20-year-old kid selling houses. The next day I'm filming a show about flipping houses on national TV, so it's been a big change," he continued.
MAURICIO UMANSKY: GOVERNMENT HAS ‘TALL TASK’ AHEAD IN FIXING ITS AFFORDABLE HOUSING CRISIS
El Moussa further entered the spotlight when he married "Selling Sunset" star Heather Rae Young last year, making the pair a property power couple. Appearing in multiple episodes of the Netflix hit series, El Moussa said the exposure "definitely does help" business.
"The biggest thing it gives me is credibility," El Moussa explained. "A lot of people want someone they can trust. So when someone works with me, my team or one of my companies, they know they can trust us, and that's really important to us."
Tarek El Moussa and Heather Rae El Moussa attend the 47th Annual People's Choice Awards. (Amy Sussman/Getty Images)
Mauricio Umansky, CEO of The Agency and husband of "Real Housewives of Beverly Hills" actress Kyle Richards, says younger generations put television first, which has created a shift in the luxury real estate market.
"Fifteen years ago, 10 years ago, we started seeing these reality shows and now they're everywhere, they're on every channel, on every network," Umansky told Casone. "It's quite interesting because that agent is really building their career on television."
Though Umansky admitted he constructed his career before "Housewives" fame, he says there’s "no question" it certainly has boosted his broker reputation.
"You are seeing a lot of these new agents building careers on television, and they're becoming superstars," Umansky said. "They're becoming top agents in the country, top agents in their markets."
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Celebrity real estate agent says ‘trust’ is most important in volatile market
HGTV host Tarek El Moussa and The Agency founder Mauricio Umansky discussed how building their careers on TV helped them become top real estate agents. FOX Business’ Cheryl Casone with more.
Despite a surge in home prices and sharp decline in supply, remote work and cryptocurrency wealth has fueled demand for "ultra" luxury homes, according to Umansky.
His comments come as a recent Sotheby’s report revealed that the luxury real estate boom is being made possible thanks to low-interest rates, record-high levels of inflation, and fat bonuses.
FOX Business’ Ariel Zilber contributed to this report.