Brett (left) and Jason Oppenheim have built the Oppenheim group to nearly $2 billion in sales around LA and Orange County.
Brett and Jason Oppenheim are stars of “Selling Sunset” and owners of the show’s real estate group.
They buy properties based on “perception,” buying poorly presented homes where they can add value.
They say low supply, high equity, and difficult financing mean there is no housing bubble.
Brett and Jason Oppenheim, the owners of The Oppenheim Group brokerage, might be better known for their appearances as peacemakers and romantic interests for the employees of the breakout Netflix show “Selling Sunset.”
But underneath lies a ruthless brokerage that handles hundreds of millions of dollars’ worth of properties each year and has estimated total sales of almost $2 billion since starting operations in 2014.
From a bedroom office to Sunset Boulevard
Despite hailing from a legacy of real estate dating back to their great-great-grandfather, who sold ranches in the 1800s, Jason started The Oppenheim Group brokerage in his spare bedroom with one intern. They eventually moved to Sunset Boulevard in Los Angeles, California, and now have another California office in Newport Beach.
He said the brokerage had seen revenue growth of 20-25% each year since, and that its smaller model allowed it to build partnerships with agents and maintain quality with only a handful of employees, which they argued protected them more from economic downturns than a typical, large-scale company.
“If there was a recession you’re going to see a lot of the major brokerages go bankrupt, or at least close to it,” Jason said. “Whereas our model can survive.”
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Look for ‘hidden value’ and ignore ‘staging’
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Source:: Business Insider