Ever since Netflix released ‘Buying Beverly Hills,’ fans of the real estate genre have been over the moon. After all, the luxurious properties featured in the production are nothing short of jaw-dropping, and it does provide us with an insight into the glamour of California. It’s thus no surprise that there have already been a lot of comparisons between this occu-soap and another Netflix realty-reality original, ‘Selling Sunset.’ While the former focuses on the employees of The Agency brokerage (headquartered in Beverly Hills), the latter revolves around the realtors at The Oppenheim Group (headquartered in Los Angeles). So, if you wish to learn more about these two companies, their competitive overall financial success, and where they stand in contrast, we’ve got the details for you.
The Agency’s Background and Growth
In July 2011, seasoned Real Estate Agent Mauricio Umansky teamed up with fellow brokers Billy Rose and Blair Chang to establish The Agency. Through this organization, the trio hoped to bring a breath of fresh air into the Californian market as well as provide a golden opportunity to some of the best realtors, whether up-and-coming or well-experienced, across the region. One of their biggest goals, though, was to provide a friendly and encouraging environment for their employees in order to ensure they give the job their all, which they’ve managed to do.
The business model used by The Agency has actually borne great fruits from quite early on — within four years of its founding, the brokerage was reportedly considered the most outstanding in Los Angeles County, California. Additionally, 13 out of the then-250 agents affiliated with the firm ranked among the top 250 realtors in the entire United States. These ranks had been carefully determined using total sales volume by the reputed Wall Street Journal and REAL Trends, Inc. It’s also imperative to note that as of writing, The Agency has over 60 offices in 6 countries, with more than 1,500 realtors working across. In June 2022, the organization opened its first European branch in the Netherlands.
The Oppenheim Group’s Background and Growth
The Oppenheim Group was launched in Hollywood, California, in 1889 by Jacob Stern as The Stern Realty Company. The establishment’s current Founder and President, Jason Oppenheim, is Jacob’s great-great-grandson and represents the fifth generation of realtors within the clan. In fact, since the late 19th Century, the family business has remained one of the top real estate development, management, and brokerage services in Los Angeles. However, the firm did shut its doors for a while following the 1980s, only for Jason to revive it under the new name The Oppenheim Group in 2013.
Since its inception, the employees of The Stern Realty Co, now The Oppenheim Group, have strived to provide the best possible services to their customers. Their work has thus essentially helped shape the entire landscape of the City of Angels, and agents have even sold estates to some of the biggest names in Hollywood. Presently, the brokerage has two branches — the original is in West Hollywood, and they recently opened another office in Newport Beach, Orange County. While several realtors who’re a part of the company’s first location are cast members of Netflix’s ‘Selling Sunset,’ the show’s spinoff, ‘Selling the OC,‘ features agents from the Orange County branch. We should mention there are currently around 44 brokers affiliated with The Oppenheim Group in total.
The Agency vs. The Oppenheim Group: Revenue
According to statistics shared by The Agency, it has sold properties worth over $45 billion globally as of writing. In comparison, The Oppenheim Group claims to have $2 billion in total sales since re-starting operations. The former reportedly also has an annual revenue of more than $100 million, whereas the latter makes around $5 million yearly. In order to truly understand the success of these companies, though, we must consider their size, their global influence, and their number of offices as well. We must take note of even their history, especially considering the fact The Oppenheim Group has been in the service business for 130+ years, whereas The Agency is merely a decade old. Yet, The Agency is still significantly more successful than The Oppenheim Group and seems to be achieving new heights every day.