- 📚 Ryan Serhant has a diverse career in real estate and reality TV, highlighted by multiple successful ventures and shows.
- 🏡 Serhant founded his own brokerage, SERHANT., in 2020 which has closed over $10 billion in sales.
- 👂 New real estate agents are advised by Serhant to seek guidance, listen, learn, and work hard.
- 👥 Building a team is crucial; Serhant warns against starting independently.
- 💼 Treat all clients with respect and loyalty, as if they were close friends.
- 🏆 Be the hardest worker and set an example for your team, regardless of your experience level.
- 📈 Buyers currently have an advantage as the market displays “analysis paralysis” but smart buyers are capitalizing.
- 💒 “Marry the house and date the rate” suggests focusing on securing property even with high interest rates.
- 🚀 2024 is expected to be a robust year for real estate, with high activity in the market making it a good time for sellers.
- 🧩 Real estate is a proven path to generational wealth but requires smart, informed decisions to avoid potential losses.
- 🤝 Working with an agent is highly recommended for navigating the complexities of real estate transactions.
- 💡 When selling, think of your home as a brand and create excitement to stand out.
- 💰 Keeping cash on hand is essential when purchasing to potentially lower monthly payments and strengthen purchase power.
The real estate industry is no stranger to dynamism and transformation, and one individual who has skillfully navigated its highs and lows is Ryan Serhant. From his beginnings in reality TV to founding his own brokerage and amassing over $10 billion in sales, Serhant’s journey offers a treasure trove of valuable insights for both budding and experienced real estate professionals. Here, we delve deep into his career and distill actionable advice that can steer anyone toward success in real estate.
Who is Ryan Serhant?
Ryan Serhant is a name that has become synonymous with high-stakes real estate and reality TV. With an impressive career spanning over a decade, he’s made waves in the industry through his appearances on Bravo’s “Million Dollar Listing” and “Sell It Like Serhant,” and most recently, Netflix’s “Owning Manhattan.” His media presence is not just for show; it serves as a springboard for his practical, hands-on expertise in real estate.
The Birth of SERHANT. Brokerage
In 2020, Serhant took a leap of faith by founding his own real estate brokerage, aptly named SERHANT. The firm has since closed sales surpassing $10 billion, a testament to its founder’s vision and tenacity. This move has positioned Serhant as not just a participant in but a shaper of the real estate market.
Key Lessons from Ryan Serhant
1. Guidance is Golden
Becoming a successful real estate agent is no small feat. Serhant advises new agents to seek mentorship actively. “Listen, learn, rinse, repeat,” he says. The value of seasoned advice cannot be overstated, and having a mentor can markedly accelerate your learning curve.
2. The Importance of Teamwork
Serhant warns against the solitary path he initially chose. Instead, he urges new agents to start their careers within a team. The collaborative environment offers support, motivation, and shared knowledge—an invaluable asset in any competitive industry.
3. Client Relations
For Serhant, treating clients with the utmost respect and loyalty is non-negotiable. “Great salespeople treat every single person the same, with the utmost respect, as a close friend,” he emphasizes. Building such relationships often translates into repeat business and referrals, which are the lifeblood of any successful real estate career.
4. Leadership by Example
Serhant believes in leading his team by example. “It’s incredibly important for everyone from the newest agents to our veterans to see that I don’t take anything for granted and, no matter what, I’m the hardest worker in the room.” This mentality fosters a culture of hard work and dedication within his team.
The Real Estate Market: A Dual Perspective
For Buyers
Serhant states that buyers currently wield a slight advantage in the housing market, attributing this to a sense of “analysis paralysis.” He advises smart buyers to seize this opportunity. His philosophy of “marry the house and date the rate” underscores the importance of securing a desirable property even amidst high interest rates, which can fluctuate over time.
For Sellers
Contrarily, 2024 is shaping up to be favorable for sellers. According to Serhant, the market remains active despite high rates. He recommends seizing the moment, especially before potential market changes due to upcoming presidential elections.
The Path to Generational Wealth
Real estate is often touted as a reliable avenue for building generational wealth, and Serhant agrees with this assertion. “Owning real estate is a great path toward generational wealth in the United States.” However, he also cautions that the industry demands intelligent and informed decisions. The opportunities are vast, but so are the risks.
The Value of a Real Estate Agent
Navigating the intricacies of real estate transactions can be daunting. Serhant advises working closely with a knowledgeable agent to mitigate risks. “If you’ve never bought real estate before, work with someone who has, talk to someone who has, and use a real estate broker,” he advises.
Branding Your Home
Serhant suggests thinking of your home as a brand, especially when it’s time to sell. Describing it in a compelling way can make it stand out in a crowded market. Furthermore, underpricing can actually create demand, making the property more attractive to potential buyers.
Cash is King
When it comes to purchasing property, liquidity matters. “Cash is key,” Serhant points out. Having enough saved up can significantly impact your monthly payments and overall purchasing power.
Final Thoughts
Ryan Serhant’s journey from reality TV to establishing a multi-billion-dollar brokerage provides a masterclass in the real estate industry. His advice—garnered from years of experience, countless transactions, and an unwavering work ethic—is invaluable for anyone aspiring to succeed in real estate.
By following these lessons and staying attuned to market trends, aspiring real estate professionals can navigate this complex industry more effectively. Whether you are buying, selling, or investing, taking a page from Serhant’s book could very well be your blueprint for success.
