Global brokerage Official is much more than your typical real estate agency. Co-founded in 2022 by top-selling agents Oren and Tal Alexander, formerly The Alexander Team at Douglas Elliman, Official focuses on the ultra-luxury segment of the market and brings a specialized edge that caters to ultra-high-net-worth individuals and their lifestyles beyond real estate.
The Alexander brothers are known for their celebrity clients, including Adriana Lima, Tommy Hilfiger, Timbaland, and Ken Griffin, to name a few. Together they’ve done more than $8 billion in sales, and counting, in their careers and sought out to create a brokerage that comprises the top-selling agents across the country who specialize in the top end of the market. The duo founded Official with Andrew Wachtfogel, Richard L. Jordan, and Nicole Oge. Oge, Official’s chief growth officer, was a top marketing executive at Douglas Elliman and has years of expertise in the luxury segment.
“The traditional business model of brokerages is very antiquated,” Oge tells Forbes. “I’m a brand and marketer at heart. The fact that people like Oren or Tal could walk around the city with the same business card as someone who got licensed yesterday felt challenging as a marketer because the top 200 agents account for more than 85% of a brokerage’s business.”
The solution? For the Official co-founders, that was creating a dedicated brokerage for the world’s wealthiest individuals to benefit both the buyer but also the agents. The real estate brand specializes in high-end real estates and comprises trusted agents with a proven track record and reputable background when it comes to working with a certain level of clientele. They also make sure that agents with Official have a deep understanding of trends, market dynamics, and marketing techniques. In short, Oge emphasizes that Official represents the evolution of a changing market.
“The most successful brands don’t try to be everything to everyone,” says Oge, whose impressive resume includes high-level positions at Mercedes and WeWork. “For us, that was the high end of the market because it’s the type of business we know so well. The majority of our clients own multiple properties in our markets and think of us as much as investment advisors as they do real estate agents.”
Official comprises just 55 agents and employees across five markets (New York, Miami, the Hamptons, Los Angeles, and Orange County) and represents some of the highest-priced pieces of real estate around the country. Exclusive notable listings include the $130 million penthouse at New York’s 432 Park; Scott Gillen’s $70 million Cantilever House in Malibu; $32 million 1055 Stradella Road in L.A.; and other multi-million properties across the country. Official’s deep network and knowledge of the market often transcends the transaction due to the level of trust they build with buyers. This might look like helping getting their children into private schools, getting into country clubs, or luxury travel recommendations.
“We help them source their architects and designers or connect them with attorneys,” she says. “A great agent is an invaluable professional asset.”
The firm recently launched its Prodigy program, a data-driven, invitation-only recruitment tool and talent identification program that evaluates potential new talent. Oge, who is spearheading the program, says that Official doesn’t want to recruit hundreds of agents; instead, tools like Prodigy will help find the best of the best in an effort to speak more directly to the ultra-luxury buyer’s and developer’s needs.
“We’ve built a moat around this business when it comes to barriers of entry,” she says. “We’re not saying all agents are created equal. The agents at the top of their game provide an invaluable service.”
Official is representing several new developments, like the highly anticipated 888 Brickell, which just announced its partnership with Dolce & Gabbana, Nihi, and The Raleigh in Miami Beach, among others.
You can read the article on Forbes here