Ryan Serhant, the star of Million Dollar Listing New York, isn’t just a likeable television personality; he’s a true real estate professional. While viewers get a glimpse of how he closes high-dollar deals in Bravo’s hit series, it’s impossible to see all of the work he puts in over the course of a 45-minute episode.
Serhant was kind enough to join me on the podcast below to shed some light on what happens behind the scenes — what he does to win and sell some of the most expensive listings in the nation.
What impressed me the most about Serhant wasn’t his sales (though as the head of New York’s top-ranked team, they certainly are impressive); it was his willingness to go the extra mile for all clients, regardless of price point.
In the interview below, he details what a day in the life of New York’s top broker looks like. Serhant also discusses his start in real estate and on television before giving advice to up-and-coming agents on winning over new clients, providing unrivaled service and more.
Listen and learn exactly what it takes to sell like Serhant. For an overview of his top tips for real estate agents, read on.
Be open and honest
Too many agents wind up with overpriced listings that sit on the market for months on end. More often than not, this happens because agents are afraid to have an open conversation with their clients upfront.
Serhant suggests explaining what your strategy is for selling a client’s property from day one, including price point.
As the real estate expert, it’s your responsibility to advise clients honestly and to the best of your ability. Attempting to avoid any and all confrontation might seem like the best way to win listings, but it’s a losing strategy for you and your clients.
Take fear out of the equation
Buying and selling real estate can and should be a fun experience. Still, with the amount of money usually involved, it can also be scary.
Don’t let fear paralyze clients; it’ll waste your time and theirs.
Lay out the entire process for clients so that they know what to expect along the way. Never let them worry about what comes next. Also, highlight that the experience doesn’t have to be stressful – that there’s nothing forcing them to buy or sell in the event that they change their mind.
At the end of the day, it should be a team effort. When you and your client are on the same page, working together confidently toward the same goal, it’s a better, more productive experience.
Don’t try to do too much
Real estate is a service-oriented industry, so why is it that so many agents offer such poor customer service?
The answer, according to Serhant, is simple: too many agents take on too much.
Until you’re able to leverage quality people and have truly mastered time management, hunger for more business might cause you to bite off more than you can chew. Early in his career, Serhant learned this lesson when trying to sell his first building.
Thinking he could do it all, Serhant was too busy to deliver the level of service that the client expected. He wasn’t telling them how much their business meant to him. He wasn’t returning their calls promptly.
Before long, this lack of customer care actually got him fired.
Now, Serhant firmly believes that quality of service, not quantity of business, is what’s important when it comes to ensuring an agent’s long-term success.
For more real estate tips from Million Dollar Listing New York star Ryan Serhant, listen to the full podcast.
Pat Hiban sold more than 7,000 homes over the course of his 25-year career in real estate. Now, he dedicates his time to helping others succeed as agents and investors. As host of the Real Estate Rockstars Podcast, Pat interviews real estate experts to explore what works in today’s markets. He also founded Rebus University, an online training platform for real estate agents and sales professionals.