Netflix’s hit show Selling Sunset has captivated audiences for three seasons by showcasing some of Los Angeles’ most impressive luxury real estate. The show follows the founders and employees of real estate brokerage The Oppenheim Group, and viewers get a behind-the-scenes look of the cut-throat competition as a real estate agent in the Los Angeles market, as well as the cast drama that comes with it.
Brothers Jason and Brett Oppenheim founded The Oppenheim Group brokerage in 2015 at the corner of Sunset Boulevard and Sunset Plaza Drive, where they employ 30 agents and 7 staff. The brokerage is known for its luxury listings, ranging from $1 million to $100 million, and some of the largest listings in all of Los Angeles. The Oppenheim Group has made more than 500 sales and $2 billion in volume since its founding.
Selling Sunset first aired in 2019, and this year, Netflix confirmed the show was renewed for a fourth and fifth season. Exclusively speaking to Forbes, Jason Oppenheim says the show has given the brokerage lots of exposure.
“In terms of branding the Oppenheim Group, you couldn’t buy this type of marketing,” he says. “In that respect, I think [the show] has been amazing. We probably wouldn’t have opened up a second office [in Newport, California] had we not had that type of exposure. I think it also helps recruit agents.”
One of those agents is Emma Hernan, who has been with The Oppenheim Group since 2017. While she has worked off-camera at the brokerage since the show started, she is a confirmed cast member for season four and five, which Netflix renewed earlier this year.
“All of a sudden I’m gaining more clients who didn’t know I was in real estate,” Hernan says, adding she has been friends with Jason and the cast for several years.
The show’s fourth and fifth seasons, much of which is already filmed, come at an interesting time given the state of the real estate market and also the exodus from cities. While the real estate market suffered in many U.S. cities due to the Covid-19 pandemic, Oppenheim says there has been somewhat of a post-pandemic boom. This year, the group brokerage has done more than $300 million in sales volume.
“Coming out of the pandemic we had a real boom in the $1 million to $3 million price points,” Oppenheim says. “We were processing multiple offers like I’ve never seen before. By no means is the market not healthy right now, but you’re seeing things cool a bit compared to the pent-up demand we saw in March and April. Overall it’s a healthy market. The 1% has done exceptionally well coming out of the pandemic, which is the majority of our buyers. We are seeing a lot of $20 million and up homes sell.”
Hernan adds that Los Angeles’ entry-level market is the $1 million to $3 million range, and she sees many clients looking for homes in that price point.
“I think with the interest rates where they are, it’s a great time to buy,” she says.
Oppenheim says his clients are focusing on more land than ever before.
“Housing has never been so clearly important to people,” he says. “A lot of people are working from home, and now they want to invest more in a home because they’re also investing in their office. I’ve always pushed my clients towards land because land appreciates and houses generally depreciate. I think people don’t often focus on the investment aspect. A big, contemporary home on a hillside might not appreciate the way that a home on half an acre of land will. Not only that, but privacy. Privacy, security, and land have become the most important.”
Hernan says that, though there aren’t many places to get land these days in Los Angeles, she finds that the Valley and Studio City are becoming hot, up and coming areas for many luxury buyers.
While there’s no official air date for season four of Selling Sunset, Oppenheim and Hernan confirm that upcoming seasons will showcase several new and interesting properties that viewers will enjoy.
“I have a few amazing properties that I’m bringing on in season four, and in season five, we’ll have some really big listings,” Hernan says. “I have two cool houses on the show that are more than $20 million and a development deal around $20 million that’s even bigger. It’s very exciting.”
Despite the pandemic’s effect on the market, Oppenheim is optimistic that Los Angeles will experience a resurgence.
“We’ve seen an exodus from big cities, but I think people will soon move back and realize there’s a reason why Los Angeles is Los Angeles,” he says.