Ryan Serhant - Sell it like Serhant

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What is going on, everyone? Welcome back to the rise of the young podcast today. I have Ryan Serhant with us here today in New York City.

What's up?

Thanks so much for being on the show, man.

Welcome to my office. Thanks for showing up early.

Absolutely. So it's like 8 o' clock right now. We got about 25 minutes and number one, I very much appreciate you taking the time to do this. I know you're super busy. You have an operation that you've built up. Right. And I was brand known as build your empire and I like to call them empire builders and you've truly built an empire. So the people that may not know what you're currently doing, I know that you're on the million dollar listing.

Bravo.

You have so many things happening, not only real estate wise, but production wise, film wise.

Sure.

I'd love for you to give them just a 60 second recap about where you're currently spending your time and just fill people in on what your life is right now.

Well, my life is right now. I mean, most people know me from millionaire listing New York, which has been on Bravo since 2012. So right now we're filming season eight and that show takes us about nine months to film. And it's not all the time. Like there's no cameras here right now other than my cameras. And last year I did sell it like Sirhant, which is a separate show spin off for Bravo. So I'm working on trying to get season two up and running this year. I'm still promoting the book. Wrote a book called sell it like Sirhan about how to sell and how to make more money. So I'm promoting that. I am making an online course, so I did that all weekend. I have a couple more weekends to push that out there. I have the vlog. I do the vlog. And I have $1.3 billion in active listings right now that I have to sell and a lot of crazy clients and a team of about 60 agents that need me all day, every day. Plus I have a wife at home. I think that's like roughly it. Like those are the main things that I spend my time on right now.

Got it. Amazing. So for many forever listening, I think our main audience is 18 to 25, I'm 18 right now. And we see people on social media, they're doing so much stuff. But I like to really get into the meat of like where it all started. So first question is, when did you get into real estate?

Sure.

And what year was that and why did you do it?

I got into real estate in 2008 because I had no money. I was broke. Like, I'm not from New York. Right. I was born in Texas. I bounced around a lot. Grew up a little in Long island, then grew up really outside Boston. And the only thing I was ever really good at, like I sucked at math, I wasn't really good at school. I was sucked at every single sport. Like, I wasn't cool, right. I was, I was overweight, I had like terrible skin. I had like the worst self conscious. I was so self conscious about myself all the time that like I got into theater because, like those kids were also self conscious and they were then my friends. And so then like what I fell in love with was performing in theater and trying to be other people so I didn't have to be myself, especially in high school. And so that's what I did through college. And so I came to New York and I said, you know what? Like, I don't want to be a lawyer. I don't want to be a fucking doctor. Like, I don't want to. I don't want to do anything for anybody else. Like, I like acting and I'm going to try to make it work for at least a couple years. And I had like no money and my grandfather had died and left me like a few. Like, it left me a little bit of money that could like help me live for like two years. And that's what I lived on. And I came to New York City, I lived in a one bedroom that my friends and I converted into a three bedroom on 66th and 1st. And I just went to auditions all day long and submitted my resume all day long and hustled and hustled and hustled all day long. And I got onto a soap opera for a short period of time, and then they killed me off. And I hand modeled to pay the bills. So I literally did, like, whatever it took. I was a flyer guy on the streets, so for a gym. So I didn't have to pay to work out at a gym because I couldn't afford it. Like, I just did all these odd little things to try to make money, and then I basically ran out of money because New York City is really, really expensive. And that was the summer of 2008. And a friend of mine said, listen, don't be a waiter, don't be a bartender. Don't get, like a quote unquote survival job. Because what happens is you get a survival job, then you get comfortable paying your rent and paying your bills, and. And then 20 years go by and you're still bartending, you're still waiting tables, and you've still got, like, your hobby, which started as your passion and is now just this thing that you try to get time off from work to do, and it becomes, like, this disease. So he said, get your real estate license, all right? You make your own hours. The market's insane. It's awesome. Sell apartments on the Internet. It's a great, great, great. And he had, like, cool suits and he had a cool apartment, and. And I was living in, like, Koreatown in, like a 300 square foot box where I shared a bathroom with a lot of other people. And I was like, wow, that life actually sounds better than what I'm doing. So I got my real estate license, and the day I started, Lehman Brothers filed for bankruptcy, which, if you know, if anyone who's listening remembers, you know, that was now almost 11 years ago. But that was the day that the Great Recession started, right? Like, the market crashed, everyone stopped. Everything came to a grinding halt. And so it was terrible timing, but at the same time, it was pretty good timing because I was coming from the bottom anyway. I didn't really have a lot of bills. Like, I had no responsibility, I had no money. And so everything for me was about like, wow, this is really hard. Like, real estate is really hard. And all these brokers kept getting out of the business because it was so hard. So I just thought it was the hardest business ever. And then it slowly started to get better, and I taught myself how to work, and I became addicted to it. Like, that's how I got into it. Like, I became addicted to the idea that I. I could work just as Hard as I was when I was trying to be an actor, but there was a much better chance that I would be able to pay my rent. Like, literally, like, it was just pure survival. Right. It wasn't a passion for real estate. Like, I don't get excited about crown molding and, you know, like, hardwood floors. It was literally just like, this is an amazing opportunity, and all sales are for people who, like, want to put in the work to get a return. And acting in the city, Like, I would work my ass off for three months, and all that would happen was I would spend the money that I had saved, and maybe I'd meet some people, maybe I had some opportunities, but, like, people would reject me to my face because of my face. You know, like, no one has ever not taken an apartment from me because of my face. And, you know, as weird as that sounds, like that was a really, really good thing for me, and that's how I got into it.

That's super cool. So something I'm curious about, because I know I've seen the Million Dollar Listing. Love the show, by the way. And, like, you're talking about right before we started the podcast, it's sort of that outlet for you. Like, you wanted to be an actor, you did theater. Right. It was always that outlet for you. So now that you're doing real estate, when did the Million Dollar Listing come about? And was it something where it was a challenge to get on, or where were you at when you got on the show? Like, just talk us through that process, because I think a lot of people are interested on just what goes into making something like that happen, and.

Sure.

How it actually came about.

Yeah. I mean, you know how they say, like, luck is when opportunity meets preparation. Right. Like, it's. I really think that that's what happened for me because I spent my whole life, right, literally from when I was, like, a little kid wanting to perform and everything, trying to be an actor, moved to New York City, and then I basically quit. Right. But I prepared my whole life to perform, be in front of cameras and everything. But then I quit because it wasn't making me happy, and I couldn't afford rent. And then I got into real estate, which is not acting whatsoever, and I'm running around on the street sweating my ass off in the summer, trying to rent apartments to, you know, kids for 2000 bucks a month and all that crap. And, you know, and then there was an open casting call two years later in 2010 that was put out into, like, the real estate trades that said The New York version of Million Dollar Listing, which at that time was just in Los Angeles, was going to be casting, and they wanted the best real estate agents under the age of 30. And I was like, dude, I'm definitely not the best real estate agent. I was actually pretty bad. It's like the worst. But this seems cool. This could be good for my business. Why not? And I showed up at the Hudson Hotel in Times Square for an open casting call with 3,000 real estate agents, and they picked three of us. But I knew what to do in front of the camera, and I think a lot of people didn't. So I was comfortable being in front of a camera. I was comfortable talking about business. I was comfortable really going really hard in giving them what they wanted, because I trained for it my whole life. And then they cast me on it, and I was like, holy shit, now what do I do? I wasn't really so many people. Like, the other guys on the show when we started were really concerned about being on television, and they weren't concerned about the real estate business. Dude, I was so okay with being on tv. I was, like, having a heart attack about the real estate business because at that time, I was, like, renting little tiny apartments. I sold a few things here and there, and I'm like, damn, how am I going to be awesome as a real estate agent on this show? I'm really going to have to work my ass off. And that's what I did.

That's super cool. So. So nowadays, that show itself, and you said you were selling small apartments, Right. What has been, like, the most, I would say, not only expensive, but what's been your favorite sale of a property? I saw the video on YouTube. It was like touring the $188 million mega mansion.

Right.

Like, you've done some cool stuff. Looking back when you said, hey, we're doing small apartments now, it's like the best of the best, right?

Yeah.

So what's been a story or something where you've. You've sold something to someone that's been one of your favorite properties or your favorite. I would say, sales to an individual. Do you have one of those?

Yeah, I mean, I sell about, you know, roughly 500 homes a year. And I would say that, you know, what a good story for me that I think is an example of how I've gotten to where I am and is, like a testament to what I've done, but also shows everybody else, like, what it takes isn't just a big property or, like, a crazy deal. In the beginning of 2012, a guy and his wife reached out to me and I had a tiny little listing on the Upper east side. They said they wanted to see it. They were from New Jersey, and they then didn't like it and they wanted to see other things. Like, that's how it goes in real estate, right? So then I started showing them other properties on the Upper east side. Then they didn't want Upper east side, then they wanted Upper west side, Then they didn't want Upper west side. Then they wanted downtown. Then they didn't want Downtown. And then they ghosted me. Okay, they ghosted me, but they didn't not reply and say, we found something else or we're working with somebody else. They just completely ghosted me. And so I started following up with them. Every week I'd send them listings. I'd say, you know, hey, it's cold outside. Like, just once a week, I didn't harass them, but I'd follow up just to remind them over and over that, like, you guys were interested in finding something. I don't know what happened or where you went, but, you know, if you're not interested, please tell me they never did. Right? But if you are interested, like, here's other options that I think are good. Okay, fast forward five years later. So the beginning of 2017. All right? I've been sending them follow up emails once a week for five years. He finally writes me back the husband and says, hey, Ryan, so sorry I haven't gotten back to you. I've been busy. Five years later, right? He says, can you talk on the phone? I immediately call him right then because I'm like, great, I'm not busy. And I've been waiting for this moment my whole life, but I almost kind of hadn't been waiting for it. Like, at that point in time, I was just waiting for him to block me or not send or not reply. But I just knew that at some time, eventually, if I follow up with enough people over time, deals will happen. So I talked to him on the phone and he says, yeah, my life changed. I decided not to buy something, as you probably know. Anyway, I'm divorced now. Like, okay. And I want to find something for myself, probably in Soho. And my budget's not like a million anymore. I want to spend between 15 and 20 million dollars. The next week, I sold him a penthouse in Soho for 17 million dollars. And tomorrow, actually, so that was 2017. Tomorrow we're now in 2019, I'm selling him something in the Hamptons. Between 50 and 70 million dollars, because I followed up with him for five years. So that's a deal where it's not like an individual sale, but like the power of follow up, the power of taking initiative, the power of persistence is 100% the key to any success and by far the DNA of my success. Because I'm not from New York and I don't know anybody. Like, the people I meet now are people that I've met over time. You know, like, it's. It is what it is. So. Yeah, so that's a good example.

That's an amazing story.

Yeah.

So I'm curious, growing up, did you have, like, entrepreneurial parents, friends? How was life growing up in school? Like, did you ever think you'd be in the position you are now? Or, like, obviously you said your end goal was to be an actor and that was your passion.

Right?

But were you surrounded by entrepreneurial figures growing up?

Nope. No, man. I grew up outside Boston. Like, I was surrounded by Patriots fans, Red Sox fans. My family all worked in finance. So, you know, and they still do. And, you know, I just didn't want to do that. It just, like, didn't make me happy. But I was not from anywhere where there was, like, entrepreneurs around. And when I grew up, there was no Instagram or Facebook or anything. Like, so I didn't see that it was something that people could do just to make their own way. Like, I knew that people started companies. I knew that, you know, there were people who didn't have W2s and, like, live regular lives. And I just. I don't know, I just didn't want that for myself, you know, Life is too short. The last thing I wanted to do was be kind of chained to a desk, you know, But I also need to, like, put the caveat out there that you can't be stupid. So I don't want people listening. And I think we have such an impressionable young generation who's growing up, who's going to be super influenced by influencers and by other people who've made it on their own. It's really, really, really hard. And you cannot be stupid. Like, don't pass up the fact that if you really are smart and you really do want to go to college, like, go. I know there's a lot of people out there who say, don't go. Like, don't listen to other people. You want to go to school, go to school. You want to get your mba, go get it. Like, if you want to be a lawyer, that's okay, go do it. You don't have to flip sneakers on ebay and start a vlog if you don't want to. You know, like, I've fallen into all this stuff, but, like, I just want everybody to know that whatever choice you choose for life, it's all going to be okay. You're going to change a lot over the course of being 20 to 35. I'm still changing every day. I'm 34 and it's okay. I just think what's awesome about 2019 is the fact that we live in the Future. It's insane. 2019, it's crazy. And I know it's all relative, but we live in the future and it's such an amazing time because you can do whatever you want every single day to make money. You don't have to farm, like, you don't have to go into the coal mines like, you know, like people did. You don't have to, like, I don't know. I mean, it's just crazy to me. And so I think people should be really excited and really positive that there are so many opportunities out there. And the worst part about it is that it's just overwhelming. Like, what do you do with life? Right.

You know, that's some good insight. And one thing you touched on was social media building a brand. Right. There's so many people that I think a lot of young people are following. They may be like over following people. They follow so many people's opinions and they take them a lot of heart and then they don't know what to do with them. Right. But one thing I want to ask you was social media wise, you have an amazing brand, You've built a powerhouse brand on social media. And I always ask people, because you didn't have to do it and you said you fell into it. So what was the pivot point to actually start building a brand on social media and actually taking it seriously? Because it's like, you didn't have to that time. You're crushing it. And now it's like you have the vlog, you have the podcast on the show, like mainstream television. Yeah, but you are still creating your own show. Right. So when was that transition and was it an easy transition or was it more over time?

I would say I'm insatiable. Like, nothing is ever enough for me, which is a bad thing. But it's also, you know, but it's also a good thing, I think, because it enables me to keep going out for more and more. But, you know, I've Seen that a lot of my business has been able to grow because of my exposure onto television. And I also saw that a lot of the younger generation, so newer buyers, for me, like kids getting out of college, kids with their first jobs, don't watch TV anymore. And so there you go. So at the beginning of last year or kind of the end of 2017, you know, I found Joe Lareska, who is part of Sirhant Media Group with me, Adrian Vasquez, and a couple other people. And we sat there and we were like, you know what? We should take control of this. Because eventually, and I love television, but eventually it won't be there. Like, it's just life changes, you know, And I want to hedge my bets against that exposure and grab a new audience so that the 18 year olds who watch my vlog one day, if they're in New York or LA or Miami or the Hamptons or anywhere else that I sell, they want to buy a home, they might say, dude, I wonder if Ryan would sell me a house. And he'll probably won't reply, and then I'll reply in five seconds. And that's a client that I want, right. And I want to work with as many people as possible. And so, yeah, I kind of fell into it, but I kind of saw that it was the way the world was going. And so you have to adapt, you know, you have to adapt or die, man.

I love it. I love it. It's funny to say that too. Cause, like, myself being 18, like I said, haven't watched TV in like three years, but I'll watch your vlogs. And it's that such a transition that, like, that is the way it's moved to, you know?

Yeah.

So one thing, I have two more questions for you, man. So just growing up, it took, I would say, someone else to show me that it's possible to do something. Who would you say has been one of your biggest mentors?

In life? Yeah.

Overall or in real estate? In life. Someone that has really impacted you in a way that it's just they made a pivot in your mind. Yeah.

I would say I'd start with my dad. Right. My dad is an incredibly, incredibly hard worker. He taught me ready, set, go, which is my mantra, which I say every single day, because, like, every day is a race. You just have no idea what kind of race you're gonna run. And he taught me the value of hard work. He taught me the importance of the dollar. He taught me how to save money. Like, watching him as much as I probably didn't like it when I was younger because he was incredibly strict. Really set an amazing foundation for me now because thank God he was strict. I have a lot of friends and people that I grew up with, elementary school and high school who didn't have parents who were like my dad. And they are not where I am now. And I really blame parenting. Right. Parenting is incredibly important. There's no book for it and no one pays attention to it until it's too late.

Right.

They always blame the parents when it's too late. And then from there I would say Frederick, you know who, if you haven't watched Million Dollar Listing, he's my co star and it's, you know, he and I have been on the show together since the beginning and we've had a bumpy relationship and it's been somewhat rocky. But you know, he's always been someone that I looked up to and the way that he's built his business and built his brand was something that I was always inspired by, no matter how much I hated him at any given moment. But I think without him I wouldn't have pushed myself as hard to be where I am today. And there's a book by Phil Knight who started Nike called Shoe Dog. Have you read it? Yeah. And so at the end of there, at the end of the book, he's got an amazing line where he basically thanks Adidas. Like without Adidas, Nike wouldn't be where it is today. And vice versa. Like as much as there was hate and you know, aggression between the two companies, they really did push each other to be better. It's like great competition creates. Great competition creates great results. And that's the name of the game.

Absolutely. It's funny, I saw, I saw that video that you posted on social media and it was, it's so true because I mean Adidas has recreated itself these last three years, which I've seen as like a consumer that someone that buys their products.

Yeah.

So it's, it's, that is the name of the game. Right. So last question to wrap it up. And I think I really want to make it towards the audience on this one because I think a lot of 18 to 25 year olds, like you said, they may be lost, they may know exactly what they want to do. But overall, like, like myself.

Yeah.

I like listening to people that are where I want to be, whether that be in their industry or just success standpoint.

Sure.

So looking back 18 to 25, if you had to give this generation, my generation, like I said, 18 to 25. What would be that type of advice and something you'd want them to know moving into their careers, figure out who.

You want to be like you just said, and try to go work for that person or somebody who's like that person and work for them for free, which is what I've said for a long time. You know, honestly, some of my best agents started here working for me for free, helping around the office, seeing how everything worked here. And then they were good, and then I didn't want to lose them. And then they got their license and then they started doing deals and running around and saw how I was doing it and they just like that. That hustle, like for me, goes a really, really long way. And so you have to treat like your first couple years going after your passion or whatever you want to do like you would college or grad school. Like, you can't get into any business anticipating income. You get into any in business, you need to get into any business anticipating knowledge. Like, you need to learn, you need to soak it up. You need to be beaten across the face. You need to live in a shitty apartment. You need to be a little bit hungry, otherwise you will never, ever, ever appreciate what comes next. And so as much as I hated living in terrible apartments when I first got here, as much as I hated, like, crying to my parents because I couldn't figure out how to pay my rent and I was going to move home and like all the crap that I went through and getting my debit card declined because I couldn't pay for yogurt, you know, all that stuff has built the character that is in me today and continues to push me so that I work as hard as I can so I never, ever, ever go back to those moments. So I would say go work for other people for free so that you're not a nuisance and a liability, and soak it up. And then maybe too you'll realize you don't want to do that. Like, you might come work for a real estate agent for free because you want to get into real estate agent because you want to be a real estate agent. And then you might say to yourself, oh, God, I don't want to do this. Which is true. Go work for other people. Soak it up as much as you possibly can, and then you will write your own path and guaranteed.

I love it. So that being said, thank you so much for coming on the show.

Thank you, sir.

If there's one thing for people to follow, or maybe they want to get the book. Where's the best place people can find you?

The book is on Amazon. Sell it like sarant. It's the greatest sales book ever written. And if you don't want to read it, I did the Audible too. So on Audible or the audiobook, wherever those are sold, I read it. I think it's hilarious.

Did you personally?

Narrative? Yeah. Yeah, it took me a couple days.

Oh, wow.

No, it's good. And it's also about building business and how to start a business, you know, and from my point of view. And then there's the vlog on YouTube, Ryan Serhant. And then Instagram, Facebook, Twitter, Ryan Serhant. So follow me. Let's have fun.

Yeah. And I'll definitely put everything down below so you can check Ryan out if you don't already. And other than that, Ryan, thanks for coming.

Thanks, man. Thanks for coming. Awesome.

Legacy of Monsters. An Apple original series. The world is on fire. I decided to do something about it on November 17th. This place, it's not ours. Believe me, the most massive event of the year arrives. If you come with me, you'll know everything. I promise.

Oh, my God. Go, go, go.

Monarch Legacy of monsters streaming November 17th only on Apple TV. Plus.