To say that Jason Oppenheim has an enviable actual property profession is an understatement. In 2021, his West Hollywood–primarily based brokerage The Oppenheim Group—which he based along with his twin brother, Brett—did $417 million in gross sales quantity. The corporate at present have over $300 million in energetic listings. Previous shoppers embrace basketball star Kris Humphries and actors Chloë Grace Moretz, Orlando Bloom, Taye Diggs, Jessica Alba and Dakota Johnson. The Oppenheim brothers and their brokers even have star energy as the topics of Netflix’s top-rated actuality present “Promoting Sundown,” which chronicles the day-to-day workings of The Oppenheim Group within the ultracompetitive Southern California luxurious market. Nevertheless it’s not all champagne and celebrities. Behind the glamor is loads of onerous work, dedication and expertise—and, above all, a deep love and appreciation for actual property.
You come from an actual property household, however you started your skilled profession as an lawyer. What led you to founding The Oppenheim Group?
My dad was an actual property agent. It was all the time one thing I used to be round as a toddler; I noticed loads of open homes. However my dad bought these $150,000 properties in Fremont, Calif. It wasn’t the identical sort of market. And at the same time as a toddler, I all the time knew I needed to be an lawyer. After I left college, I traveled the world for 3 years, and actual property was what I used to be drawn to in my travels. I used to be very fascinated by structure and finishings on buildings. Then I returned and had a profitable profession as an lawyer for a number of years. Finally, I noticed I used to be extra enthusiastic about actual property. The primary couple of years had been actually robust. After which one factor led to a different, and issues started to develop.
Your present “Promoting Sundown” has been an enormous hit for Netflix. How was the present developed?
Producers had been approaching me and my brother [Brett Oppenheim, who also appears on “Selling Sunset”] about doing a present for a few 12 months. However we had been adamant that we didn’t need to do a present. We’d constructed so much, and we didn’t need to put it in danger. We stated no to everybody, together with our present producer. However finally that producer satisfied us to take a gathering. Then they satisfied us to do a “sizzle reel”—a five-minute interview bundle. After which Netflix obtained us to do a 20-minute pilot. We wrapped our heads round the concept we may do that. It crept up on us. Then we had been filming season one, and we realized that we had been, the truth is, doing a present. It’s humorous the best way it went from us being adamantly towards it to being utterly for it.
Many new brokers say “Promoting Sundown” impressed them to enter the true property trade. Are you able to inform us in regards to the distinction between your “actual life” work and the way offers may seem on the present?
Folks come as much as me and say the identical factor. I’ve some considerations about that, as a result of it’s not typically that you just begin on the prime. There are loads of mundane features of actual property that you just don’t see on the present. What you get to see is the attractive aspect of actual property, and it’s very encouraging. It exhibits you the dream. I recognize that we’re inspiring individuals, however they should have a dose of realism as nicely.
The Hollywood Reporter lately introduced you with the Media Maverick award at its Energy Dealer Awards occasion. How do you assume tv and social media are altering the true property trade?
Properly, on a macro stage, the true property agent has grow to be “celebritized” within the final decade, and that’s given the person agent loads of leverage. On the similar time, it’s taken leverage away from the brokerages. We’ve gone from seeing 60-40 splits to 80-20—and even 90-10. That’s nice for brokers, however it may be the dying knell for actual property brokerages. We’re at a essential juncture now. We’re seeing loads of bankruptcies, and brokerages are treading water in an ideal market. There’s good and unhealthy within the brokerage system, however prime brokers know that they want help and infrastructure. If we don’t return to 60-40, we gained’t see brokers’ wants being met; they gained’t get the help and coaching they should present good service. Consumers and sellers will undergo. So, this future is one thing we have to work out.
You’re often called a world traveler. Have you ever seen something in actual property abroad that you just want would occur within the U.S.?
You understand what I like internationally, particularly in Europe? I really like the timelessness of the finishings and the structure of the buildings. I want that we may retain that. We don’t all the time have to construct probably the most trendy condominium. I’d like to see one thing new that appears like a French château or a constructing from London from 300 years in the past. I wouldn’t thoughts changing a number of the modernism that we see.
Might you supply any recommendation for brokers who aspire to work within the luxurious market?
It’s onerous to begin on the prime. I didn’t. You shouldn’t have expectations that you just’ll be doing the massive offers instantly. On this market, you’ll begin out with $600,000 and $700,000 condos. After which a kind of shoppers will bear in mind you and purchase a $2 million home with you. You’ll do loads of hustling. Finally, your small business will likely be shoppers coming again to you to purchase once more. Be lifelike, and have a five-year plan. It took me three-and-a-half years earlier than I had any success, and I may need been out with out that five-year timeline. Realistically, it’s a five-year trajectory.