BackJason Hayes: From The 2008 Housing Crash to a Global Real Estate Empire
Jason Hayes is no ordinary entrepreneur. He’s a digital real estate pioneer who has navigated some of the toughest economic challenges, including the 2008 housing crisis, to build an empire that spans 42 countries. In a podcast interview that dives deep into his journey, Hayes shares how he leveraged the opportunities during the housing crash, scaled his business, and built a global brand that stands strong today.
From running with the bulls in Pamplona to climbing Mount Kilimanjaro, Hayes has lived a life full of bold adventures. But behind these thrilling experiences lies a remarkable business journey that many would envy. His story is one of resilience, determination, and the courage to seize opportunities during times of uncertainty. In this blog, we explore the key moments from Jason Hayes’ career, how he turned challenges into success, and the principles that drove his journey in building his real estate empire.
1. The 2008 Housing Crash: A Turning Point
The 2008 housing market crash was one of the most devastating financial events of the 21st century. While many businesses were reeling from the crash, Jason Hayes saw it as an opportunity. At the time, the U.S. housing market had collapsed, and homes were selling for pennies on the dollar. Hayes saw the potential in distressed properties and seized the opportunity by launching a digital platform for distressed stock, which enabled him to purchase homes at incredibly low prices.
As a result of this digital approach, Hayes built luxuryproperty.com, a website dedicated to buying distressed properties, turning it into a global investment vehicle. The move proved to be highly successful, and it helped Hayes scale his operations to 42 countries, making him a digital real estate pioneer.
2. From Property Flipping to Global Scaling
One of the key factors in Hayes' success was his ability to pivot quickly and adapt to market changes. Before diving into distressed properties, he had already built a large real estate investment company specializing in student accommodations. After selling his first company in 2007, Hayes saw the UK real estate market overheating and realized that it was the perfect time to lock in his capital gains.
Soon after, Hayes made the move into the digital world, launching a website called “propertyandhomes.com.” However, it wasn’t until his wife, Andrea, suggested a name change to “luxuryproperty.com” that the company truly began to scale.
Andrea’s vision and branding strategy played a huge role in the company’s growth, as she was adamant about the name change. By acquiring the domain and focusing on luxury real estate, Hayes’ company took a completely different direction. The branding shift helped the business become more digital and opened up new opportunities for international expansion.
3. The Importance of Digital Mindset
Jason Hayes has always been ahead of the curve when it comes to digital innovation. He recalls how, back in 1995, his company was the first to offer online student accommodation booking. This forward-thinking approach set him apart from the competition and allowed him to stay ahead of industry trends. Even as a young entrepreneur, Hayes understood that digital was the way forward.
Fast forward to 2020, during the global pandemic, and Hayes was once again ahead of the curve. While many businesses were struggling, Hayes’ company thrived due to its strong digital foundation. The company had already been using video viewings with clients, and the move to Zoom during the lockdown was a seamless transition. The pandemic served as a test of Hayes' ability to adapt to changing times, and once again, his digital mindset paid off.
4. The Role of Empathy in Real Estate
One of the most important lessons Jason Hayes shares in his interview is the role of empathy in real estate. He believes that the best real estate agents are those who can empathize with their clients. Hayes points to his own experience in helping clients navigate their concerns, whether it's about investing in luxury properties or understanding market conditions.
His approach to real estate is not just transactional but deeply relational. He emphasizes the importance of understanding a client's emotions, fears, and goals. This empathy-driven approach not only strengthens client relationships but also builds trust—an essential ingredient for long-term success in real estate.
Hayes’ philosophy is rooted in his grandfather's advice: "Always leave people wanting to do business with you twice." For Hayes, this means going beyond the transaction and ensuring that every interaction leaves clients with a positive experience. Whether or not they end up purchasing a property, Hayes believes in treating people with respect and integrity.
5. Building a Global Brand
Over the years, Hayes has managed to scale luxuryproperty.com to an international level. Today, the company operates in 42 countries, with a particularly strong presence in Dubai. The company has affiliates in multiple countries and uses a digital-first approach to drive its growth.
However, Hayes admits that there was a significant risk involved when transitioning from “propertyandhomes.com” to “luxuryproperty.com.” The original website had built up a strong online presence, and the name change could have been a costly mistake. But Hayes’ wife, Andrea, was insistent that the new name would resonate better with the luxury market. She was right, and this decision proved to be a turning point for the company.
6. The Power of Transparency in Business
One of the key principles Hayes emphasizes is transparency. In the real estate world, transparency can be a game-changer. Hayes believes that clients should have full visibility throughout the buying or selling process. Transparency builds trust and helps clients make informed decisions.
In Dubai, Hayes is fortunate to work closely with the Land Department, which provides valuable data to help clients navigate the market. By maintaining transparency and offering full disclosure on properties, Hayes has built a reputation for trustworthiness in the real estate industry.
7. Handling Bizarre Concierge Request
While real estate might seem like a straightforward business, it often involves some unusual requests. Hayes shares a humorous story about a client who wanted a dock for his submarine in Dubai. While this might sound outlandish, it turned out that the client owned a submarine company, and his request was legitimate. Hayes’ ability to handle such eccentricities with professionalism shows his versatility as a luxury real estate broker.
Whether it’s securing 25 parking spaces for a client or finding the perfect home for a university student’s father, Hayes demonstrates that no request is too small or too big when it comes to providing top-tier service.
8. The Future of Crypto in Real Estate
Jason Hayes has also been involved in integrating cryptocurrency into real estate transactions. His company has allowed clients to purchase properties using Bitcoin and other cryptocurrencies. Hayes sees crypto as a growing trend in the real estate industry and is excited about the possibilities it presents.
He shares an interesting story about a recent transaction where a luxury property was purchased using crypto. While the client initially had to convert their cryptocurrency into fiat currency, the process has since become more streamlined, allowing for direct crypto transactions. Hayes believes that the UAE, with its well-regulated crypto environment, will play a major role in the future of digital real estate transactions.
9. Scaling a Business in a Competitive Market
Despite being in competition with some of the biggest names in the real estate industry, including competitors owned by major media outlets like the Wall Street Journal, Hayes remains undeterred. He refers to this competition as “David vs. Goliath” but believes that his company’s digital-first mindset and focus on empathy give them the edge.
For Hayes, it’s not about directly competing with large corporations but rather carving out a niche where his company can thrive. He’s focused on building a sustainable business that prioritizes integrity, empathy, and innovation.
10. The Importance of Continuous Professional Development
As Hayes has grown his company, he’s always made sure that his employees are well-equipped to succeed. At luxuryproperty.com, continuing professional development (CPD) is a core value. Hayes emphasizes that every member of the team must be committed to improving their skills and knowledge. Whether it’s through ongoing training or staying up-to-date with industry trends, Hayes believes that CPD is crucial for long-term success.
Conclusion: The Road to Success in Real Estate
Jason Hayes' journey from a real estate investment company focused on student accommodation to building a global real estate empire is nothing short of inspiring. His story highlights the importance of seizing opportunities during times of crisis, maintaining a digital-first mindset, and putting empathy at the heart of business.
In an industry where many fail to make a lasting impact, Hayes has managed to build a thriving business by staying true to his values, adapting to changing markets, and always looking for new ways to innovate. His advice to future entrepreneurs? Stay focused, trust your instincts, and never stop learning.
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