Employee Spotlight: Sebastian Oppenheim, Head of Real Estate

Q&A with Sebastian Oppenheim, Rove's Head of Real Estate

Can you tell us a bit about your background and what brought you to Rove?

I started my career in real estate at a luxury residential brokerage firm where I connected clients to their dream properties. I loved interfacing with different property types and being involved in the transaction process. After a few years, I transitioned to the startup world and became the first US Real Estate employee at June Homes, a coliving and furnished flexible model business. I helped grow the company from just three units to an impressive 3,500 units and from two employees to 200 employees in just four years.

My experience in multifamily residential and my intrigue with the hospitality space led me to join Rove, where I’m helping build a luxury hospitality brand that merges traditional luxury hospitality with the flexible furnished rental market. At Rove, we're creating a marketplace that doesn't exist today aside from a few lower-end competitors. Our goal is to thread the needle where clients and guests can find furnished luxury rentals for short-to-mid-term lengths, owners have an opportunity to manage flexible furnished rentals, and brokers are unable to capitalize on this particular space.

How would you describe your job & responsibilities to someone who doesn’t work in your field?

As part of the acquisitions team at Rove, I conduct daily check-ins with our real estate team and individual deal makers, follow up on opportunities, speak with prospective funds/clients/owners/guests, establish new partnerships with owners/brokers/property owners, and build out infrastructure for long term growth.

Hudson Terrace by Rove Travel in Tribeca, NYC

What do you think is the competitive advantage of Rove?

Rove is able to deliver value across the board and go above expectations for both sides of the marketplace. We generate higher revenue than other operators and provide significant value and enjoyment to all guests, whether it's in the short-term rental or 30+ day market. Our focus on driving transparency and reliability from owners has been very reliable, responsive, and transparent across all touchpoints, which has helped us grow with owner and broker referrals.

What market is next for Rove?

We're looking to expand into the Southern California 30+ day market. It's an exciting time for us as we continue to grow and provide exceptional hospitality experiences for our guests.

What is underwriting, and why is it such an important step in the process of acquiring new homes?

Underwriting is a tool we use to evaluate prospective deals and acquire new supply on healthy terms. With underwriting, we’re able to take into account macro/micro factors that might impact a specific deal or property. Our goal is not only to deliver accurate performance projections, but also to take into account a sustainable path to increase revenue while delivering value to both owners and guests.

Hudson Terrace by Rove Travel in Tribeca, NYC

What is your favorite thing about working at Rove?

Rove is an amazing place for creativity, growth, high-impact, and contribution. Everyone has a voice, and we're a tight-knit group that works together to help a small company succeed. I love the people I work with; they're sharp, hardworking, and smart. At any startup, it's important to be surrounded by exciting, driven, hardworking people where you can still learn and grow alongside each other.

What advice would you give to someone looking to join your team?

Effort, creativity and patience are three core values we look for in our business development team members. Leading by example and having a strong grasp of business development and sales is key. Creativity is also important, as it helps get deals done. It's not always a linear process to close a deal, so it's important to be able to approach things differently for each unique client.

What is something that you're proud of that you've accomplished in your role?

I'm proud of the general momentum and growth of the business. We've gone from 5 to 65 properties (12x) in just one year. In NYC, we've acquired the beautiful and unique home at 27 Harrison, designed by City Hall architects. I'm also proud of the culture we're building at Rove and the enjoyable work environment we're creating for our team.

Where on earth are you hoping to travel next?

I'm hoping to travel to South Africa next, specifically Cape Town for its vibrant culture and stunning scenery, as well as a safari to experience the amazing wildlife.

Hudson Terrace by Rove Travel in Tribeca, NYC

Hudson Terrace by Rove Travel in Tribeca, NYC