- author: Ryan Serhant
Tips from Ryan Serhant on Real Estate, Success, and Life
Ryan Serhant, the star of Bravo's Million Dollar Listing New York and author of Sell It Like Serhant, recently held a Q&A session with his fans. During the event, he shared insights on a range of topics, from working part-time in real estate to tapping into the luxury market. Here are some of the highlights of the conversation:
Starting in Real Estate Part-Time
- Is it possible to be successful in real estate while working a full-time job?
- Ryan's response: It depends on how you define success. If a deal a day is your goal, it will be physically impossible to achieve while working another 10-hour a day job. However, if you're looking for one deal a month, it is possible to balance both. Ryan warns that while part-time real estate work can be successful, many people end up quitting. It may be necessary to start part-time to dip your toes in the water before making the full-time transition.
Picking the Right Clients
- What is the most annoying thing a client can do to make you walk away from a listing?
- Ryan's response: Being a know-it-all. Many clients come into the process with a lot of information and don't ask questions. When Ryan gives feedback, they push back, saying he's wrong. While Ryan doesn't say anything aloud, he thinks of these clients as "idiots." He advises against going into a doctor's office and telling the doctor how to perform surgery.
Standing Out in the Luxury Market
- How can you tap into the luxury market?
- Ryan's advice: Start with making sure the luxury market exists in the area you're working in. If there are no million-dollar houses, trying to sell one won't work. Second, get the biggest deal possible and talk about it everywhere. Ryan recommends hiring someone to handle the smaller deals. Milk the big deal, and use it to introduce you to the client's friends.
In addition to these tips, Ryan also discussed the importance of having a positive mindset, drinking lots of Smart Water, and finding humor in life. He even dropped a joke about nacho cheese when asked to tell a joke.
Ryan's success in the real estate world is clear, with 81 current listings (worth over $423 million) and 472 homes sold in 2018 alone. While his personality and bravado have certainly helped him stand out in the industry, his insights and advice can help anyone looking to enter or succeed in real estate.
The Secrets to Breaking into the Luxury Real Estate Market
Breaking into the luxury real estate market may seem like a daunting task for many brokers, but for renowned real estate broker Ryan Serhant, it's just a matter of following a specific, calculated strategy. In his recent Q&A session with fans, Serhant shared some of his secrets to achieving success in the high-end market. In this article, we will break down his strategy and provide additional insights on each step.
Step 1: Make Connections
The first step to breaking into the luxury market, according to Serhant, is to make connections with the right people. It's not just about making connections with potential clients, but also with other brokers and industry professionals who can help you expand your network.
To achieve this, Serhant suggests hiring someone to handle deals under a certain price point, allowing you to focus on the bigger deals. This person should be someone with a flexible budget, as they will be responsible for closing deals that do not meet your desired price range.
Step 2: Milk Your Connections
Once you have established connections, don't be afraid to leverage them to grow your network even further. Serhant recommends making the most out of the big deals you close by asking clients to introduce you to their friends and business partners.
For example, if you closed a $400,000 deal with a client, ask them if they know anyone else who might be in the market for a similar property. This approach can lead to referrals and, potentially, even bigger deals.
Step 3: Create a Luxury Brand
Having a strong personal brand is crucial in the luxury real estate market. To be perceived as a reputable broker, you need to look the part and offer high-quality, personalized service.
Serhant advises dressing professionally and creating a personal brand that exudes luxury and sophistication. Additionally, he suggests investing in high-quality marketing materials, such as professional photographs and 3D virtual tours, to showcase your properties in the best light possible.
Step 4: Focus on Client Service
In the luxury market, clients expect nothing but the best service and attention to detail. Serhant emphasizes the importance of going above and beyond for your clients, from arranging private jet transportation to showing them the best restaurants in town.
By prioritizing client satisfaction, you establish trust and credibility, which can lead to repeat business and word-of-mouth referrals.
Step 5: Continuously Expand Your Network
Lastly, to maintain your position in the luxury market, it's important to continuously expand your network and stay up-to-date on industry trends and developments. Attend high-end events, join exclusive clubs, and invest in continuing education to stay ahead of the game.
Achieving Success in Real Estate: Lessons from Ryan Serhant
Ryan Serhant, a highly successful real estate agent, has a unique story of struggle and success that has inspired many in the industry. Through hard work and dedication, Serhant was named the number one team in the city by both The Wall Street Journal and Real Deal Net Magazine. In his journey, Serhant has learned valuable lessons that aspiring real estate agents can learn from. Here are some of the key takeaways:
Keep pushing through tough times: Serhant faced many challenges in his career, from losing a big project to feeling that his life was over. However, he never gave up and continued to work hard, which eventually led to success. He reminds us that every bump in the road is just a bump, and it's not a brick wall.
Meet as many people as possible: When Serhant started out, he didn't know anyone in the industry and wasn't from New York City. His first clients were from ads he posted on Craigslist and talking to people on the street. Serhant stresses the importance of networking and meeting as many people as possible, as everyone could be a potential client or know someone who is.
Be diversified in your options for life: Serhant believes that education and good grades are important because they provide you with a broader range of options in life. If your top plans don't work out, having a plan B can save you from feeling like a failure.
Create a unique selling proposition: Serhant created a pitch book called "book in a box" that he sends to clients right after a phone call. This investment he made has proved to be successful, and he encourages other agents to create their unique selling proposition.
Build a great team: Serhant stresses the importance of building a great team and making sure that people's roles don't overlap. He believes that the best teams are like football teams - everyone is athletic and smart and follows a common goal, but everyone has their individual roles.
Be persistent, not pushy: Serhant reminds us that being pushy is not helpful, and instead, being persistent and working hard is the key to success.
Through these lessons, we see that achieving success in real estate takes a lot of hard work and dedication. But by following these principles, agents can create a path to their success and build a fulfilling career in real estate.
How to Build a Successful Sales Career: Insights from Ryan Serhant
Ryan Serhant, a successful real estate agent, author, and TV personality, shares his insights about building a career in sales. In a recent YouTube Live session, he answered questions from his followers on various topics related to sales and entrepreneurship. Here are some of the key takeaways from his conversation:
Meet New People
According to Serhant, networking is a crucial aspect of building a successful sales career. He recommends that new agents should aim to meet at least five new people every day. By expanding one's network, it becomes easier to find new leads and opportunities in the market.
To succeed in sales, one needs to have a broad range of knowledge and skills. Serhant suggests that individuals should take as many different types of classes as possible to be well-rounded. By having a diverse range of interests and knowledge, one can have more meaningful conversations with potential clients.
Selling is Assuring
Sales is not about convincing people to buy something they don't need. Instead, it's about assuring people of a choice that they were either going to make anyway or a choice that they didn't even know they were going to make. To be a successful salesperson, one needs to focus on creating value for the customer, rather than just making a sale.
Serhant's book, "Sell It Like Serhant," is a comprehensive guide to building a successful sales career from scratch. He emphasizes that the book is not just about selling, but also about how to become known for something meaningful. The book is available to pre-order at his website, sellitlikeserhant.com.
During the live session, Serhant also shared his thoughts on other topics related to entrepreneurship and sales. Here are some of his insights:
- To attract celebrity clients, one should approach their business managers or attorneys
- The fall of advertising and the rise of PR by Al Ries and Laura Ries is one of Serhant's favorite business self-help books
- Bushwick is an up-and-coming neighborhood in New York City
- Serhant's favorite watch is the Royal Oak
- Building relationships with people is key to success in sales
- Serhant believes in the importance of leading by example
- Serhant thinks that it's essential for individuals to have a personal brand that makes them stand out from the competition
InBreaking into the luxury real estate market requires dedicated effort and a strategic approach. by following the steps outlined by serhant and continuously working to expand your network and enhance your personal brand, you can establish yourself as a leading broker in the luxury market. , Ryan Serhant's insights provide valuable advice for anyone looking to build a successful sales career. By focusing on networking, being well-rounded, creating value, and building a personal brand, individuals can thrive in the competitive world of sales.