Inside Ryan Serhant’s Billion-Dollar Sales Machine

0:00 The things that we can do as humans, we can create, are just going to get more and more and more valuable. You'll see you'll see it. You'll see it with art. Art's about to go on a run in the way you've never seen before. Handcrafted watches, things that just can't be automated. People are really really really going to value more because everything else we've become numb to. Content, everything must have been produced. Don't push me. Don't sell me. Produce produce produce.

0:24 Ooh, raw messy weird uncomfortable valuable. >> Welcome to Forbes Talk Shop. Joining me today is Ryan Serhant, TV personality and real estate entrepreneur. We'll talk about his transition from actor to real estate, how he stays productive, and whether or not he actually ever unwinds. Ryan Serhant, thank you so much for joining us today on Forbes Talk Shop. >> Thanks for having me. >> Very excited to get into all of the many things you have cooking in New York City and beyond. Where do you want to start?

0:59 What are you most excited about? >> Well, it's summer now. I'm about to go to Greece for my annual Greece trip. My family's in Greece. they're in Greece all summer long, so I I bounce back and forth. So, I'm excited about that. >> Amazing. >> Yeah. >> And that's it. That's the end. >> Yeah, it's actually it's my 10-year wedding anniversary coming up. And so, when we got married in in 2016, we got married and I rented a a villa that was pretty crazy. It'd never been rented before for events or anything and we did a spin-off show for Bravo that was inappropriately titled Ryan's Wedding.

1:35 This is 10 years ago. And so, we had this really really cool villa called Villa Silva in Corfu. My wife's Greek, but she's not connected to Corfu in any way. It was just But, it has an international airport. So, when you're doing a destination wedding, having ease of access to an international airport and then people could bounce around. That's what we did, but we filmed it and it was work. And so, our wed our real life wedding was beautiful and amazing and cool and we got a TV show out of it for that we can reminisce with, but it was definitely work. So, for our 10-year wedding anniversary, I went back and convinced them to let me rent it again.

2:06 No No cameras, no work, just create fresh new memories that don't involve a a crew from Bravo and and the stress that comes from that. And so, I've got that coming up, which will be cool. >> That's amazing. >> Yeah. >> How many people? >> Not many. We had like I mean, we had like 300 people at our destination wedding, which was aggressive. It's like 15 people coming to the house, which is awesome. And everyone has kids, and it's fun, and we get to say, "This is where we This is where we got we got married."

2:35 And, you know, >> I love it. That's awesome. Congratulations. >> Thanks. It should be Yeah, we made it. >> You made it. >> Yeah. It'll be great. >> What do you have go coming up in the work fronts? Tell me all. >> I'm opening my 17th state in opening in Texas. I just opened in San Diego, Orange County, Los Angeles, San Francisco, and Tahoe across California. >> Tahoe. >> And so, I'm going to go and open now in Houston, Dallas, San Antonio, and Austin. And then I've got about five states left for the rest of the year, assuming I don't die.

3:06 we have our Sell It 2026 event, which is like one of the biggest sales conferences, and so we're doing that now in Denver. And so, we're going to do that in September. we're releasing our what we call Simple Simple 2. So, Simple 2 will come out in September. And so, that's AI administrative workflow for sales people and sales teams, which is a big part of what we do now. >> Do you have one analog sales tool that you swear by even as you build an AI business?

3:35 >> No matter what I do, for some reason, I cannot give up on Post-it notes. >> Really? >> Unfortunately, I've tried to to cut the habit. I thought maybe there's Post-it note rehab. Like, people have tried to have interventions with me. I just like it is just the absolute fastest and then I can't get away from it. It's more a matter of just I have so many systems that can keep track of to-do lists. The best one is a pen and paper. It just is what it is. Same thing with communication. There's so many ways to automate communication today, which we do. the best is just picking up the phone and making a phone call. And because so many people don't do it anymore, it is so much more powerful today. It's like going up and saying hi to somebody on the street or in the room. It is really powerful. In real life experiences have become more and more and more powerful. Same thing just like the power of human judgment has become more valuable today than it's ever been.

4:34 And I think the things that we can do as humans, we can create, are just going to get more and more and more valuable. You'll see You'll see it. You'll see it with art. Art's about to go on a run in the way you've never seen before. Handcrafted watches, things that just can't be automated. People are really really really going to value more because everything else we've become numb to. Content, everything must have been produced. Don't push me. Don't sell me. Produce, produce, produce. Ooh, raw, messy, weird, uncomfortable, valuable.

5:04 >> What was the first I made a purchase that you made after closing a meaningful deal? Like something that really made you feel New York broker. >> Mhm. First purchase I made was like my rent, you know, 6 months in advance. That is That's how you know you're a New York broker. You know what? I'm going to pre-pay this so I don't spend it. And you used to be able to do that. Today, I mean, you can You can do whatever you want, but it's technically illegal. You pay 1 month's rent, 1 month's security at lease signing, and you go month to month to month to prevent bad actors.

5:35 But you used to be able to get a better deal on rent if you paid up front. And I think one of my first major deals, I I pre-paid my rent by 6 months knowing that if it was just in my bank maybe I would spend it to invest in my business, but maybe I would spend it elsewhere. And no. Better go into rent. So, that was a major That was a major purchase, a fun purchase was I mean, I purchased this was my first my first driver and car. My first car and driver that was mine, like an employee and and that was a long time ago. I mean, that was 14 years ago now. And that was I could not afford it at the time.

6:21 but that was >> more rewarding, right? >> Cuz you had to work for it. And I would budget everything by how many homes I had to sell. So, on it you look at like your year and say, "Okay, my average price point is $1.5 million. My average commission is, you know, at that time let's say 3%." And so, you know, you're 35,000 give or take, and then you've got your splits with the house and this, that, the other. What's your average take home? Okay, great.

6:46 Everything you want to go do that's above what you think you're going to do that year as you spend into what your your bonus, that's what you can go buy. So, you know, with the car, I think it was an Escalade, and my first driver, all those together was like, "Man, that's That's like seven extra deals. That's >> That's a lot of pressure. >> to I have to sell seven more homes to afford that." And then what happens is you back yourself up against a financial wall.

7:12 You don't want to let go of what you have. And then you do eight. And then the eight turn into 10 because what you're actually doing is buying your time back. And that was like a real game-changer for me because I kept looking at expenses like expense. Like, "Oh, I can't afford it." It's the easiest thing to say, "Oh, I can't do that. I can't afford it. Can't afford it." But future me better be able to afford it. So, why don't I just start acting like that guy today?

7:39 >> Tell me about your I mean, you have great style on the show, on the street. You really you know what you like, I feel like. Do you have a specific deal uniform, which is basically just your style, that you always gravitate towards? >> I mean, Monday through Friday, I wear a suit. And I'm wearing a collared shirt today. I don't know why. It was a weird weird morning. yeah, Forbes. I was like, I'm coming to Forbes. Black. I had to be on brand. And I and I would usually wear a t-shirt, to be honest, underneath. Like I have these thick cotton t-shirts. They don't look like t-shirts. They they're just much more structured. And it's simple. That way, if I'm warm, I can take the jacket off.

8:23 It's okay. I'm not being super formal. I really don't wear ties as often as I as I used to. I would say that's my uniform. Saturday and Sunday, I'm typically in like workout gear. It's just it's just easier. I don't have a whole lot of other clothes. I'm not like a big stuff guy. >> Really? >> I loathe shopping. Like I just don't care. I have four cars. I don't drive them. Like the garage calls me. It's like, "Hello.

8:53 >> Do you still want this thing?" >> No, they're like, "We're going to start it to make sure your batteries don't" I'm like, "Yeah, you should you should totally do that." I'm going to check it out next Saturday. four months later. Yeah, I just like I I'm a product of my environment. Like New York has made me, over the past 20 years I've I've been here 20 years now this year. I am I am operationally efficient across the entirety of my life. Unfortunately.

9:19 >> Well, I mean, that yeah, you can't have a lot of stuff and be operationally efficient. That just doesn't match, especially in New York City. >> I yeah, I wish I had had more stuff. I don't know what I'd do with it, though. I'd like >> Not use it, probably. >> What a waste. >> What a waste. All right, what's the most underrated object in a great salespersons arsenal. >> Great sales people today, the power of follow-up is really really key and memory.

9:44 And a lot of our top agents now will use something called Plaud, which is on the back of their phone. And so that way they just don't forget. And so they're either using that as an object to make sure that everything they said they were going to do in that meeting for an hour where then they come out of the meeting and then they get a phone call and then 10 other texts and now you forgot and no shoot it's 5:00 p.m. and then oh shoot you got to pick up the kids and then oh shoot it's 2 months from now. Everything is taken care of and there are structure and process to the chaos.

10:14 I think that's a great tool for for sales people today and a great great object for sure. >> That's a great answer. When you're walking into a high-stakes pitch for a major property or developer, what's the one thing you always make sure you have with you? >> An athletic sense of confidence. I can't remember which Masters it was a long long time ago where Tiger Woods was, you know, right there at the end. And it was a ridiculous putt and he made it and he won and the money and the this that the other.

10:47 And they, you know, they asked him, "How do you stay calm, cool, and collected like in those moments? That final Anybody else like your hands would shake. Like the pressure is just too much." And he said something along the lines of I played like I already had the win in my pocket. And my best advice for anyone who's going into a high-pressure situation, whether it's to ask a a boss for a raise or it's a first date or it's a big pitch like that, is always always treat it like meeting number two.

11:17 So if you're asking for a raise, you already got the raise and you're just reminding your boss what were those thing I I'm giving you the raise I told you but it was the three things that that I'm giving it to you for what what Okay, got you. Versus why? Same thing with a pitch. It's you already got the listing, you already have the business, you already sold the product. Now you're going in and you're just reminding them again as to why you're there and great and I promise you it just it lowers your resting heart rate and you go in and you are far more comfortable. You're more human, you're more relaxed, you're not selling, you're not pitching, you're not nervous. So yeah, it's your it's your second date always. Always treat every first meeting like a second meeting.

11:58 And that's that. I say athletic cuz same thing like we just watched the NBA finals, the Stanley Cup, all that stuff. Those moments can be very stressful. You already made it. >> What's one AI or productivity tool outside of Simple that has genuinely changed how you work day-to-day? >> Whisper flow. >> Tell me. >> Whisper flow is you used to type, but you don't type anymore. So you have a command set on your keyboard and then it's just voice-to-text, but it is just the best and it shaves hours upon hours of typing. I have it on my home office, I have it on my office office.

12:38 It is better than any iPhone auto dictation tool. It'll know whether you're typing lists, it'll know whether you're numbering things, it'll know it'll know if you've made a mistake and it'll just auto correct the mistake and then just put it in there and it learns you as you go. >> I'm scared of this tool, but very intrigued. >> Check it out. I mean, I'm not a paid spokesperson. I probably should be, but all these tools are just things that that we use. That's outside of Simple.

13:04 >> Outside of Simple, of course. When you're in your car, what with your driver, which I assume you're in a ton cuz you're roaming all around New York City and the boroughs, what are you doing? Are you Do you Do you feel like you get a lot done in the car? >> Oh yeah. I mean, it's I It's private phone conversations, it's Zooms, it's team meetings, it's emails, it's everything. There's no difference for me in the work I get done in the office, at home, or in the car. And I set that up a long, long time I actually used to have a laptop that was built into an Escalade that was always on so that I could go from my office office to my mobile office to my home office >> really?

13:45 >> and never miss a beat. Yeah, and then I mean technology's now just gotten better that you don't have to do that anymore, but both of my drivers cars now, they all have trays for for computers. And so even if my assistant is coming through, there's no excuse. >> You spend so much time in the car and on airplanes. Speaking of airplanes, you travel a ton. >> I do. >> What do you always have with you when you're traveling? Tell me about carry-on essentials.

14:11 Anything productivity related. >> A phone charger. >> I'm honestly that's the thing I forget most often. >> Do you? >> Oh, all the time. >> That phone charger is 100% in the pocket. That's really important. I don't have it with me right now cuz it's in the car. I am like I'm somewhat millennial coded in in paper sometimes so I do have a monthly binder. >> Yeah, that's a monthly binder of my my life. And so my assistant with the executive team put it together and it's everything I need to know about all of our markets, all of our deals, all of our people, the goals, you know, it's it's it's it's like it's relatively pretty thick and it gets printed and we hold on to it and we I follow it so. And then I can put all my notes and all my other post-it notes in there.

14:55 >> Of course it's just another post-it notes. >> Exactly. That's probably why I have it. It also just makes me feel good to carry it, but I don't have a briefcase or anything. So I'd say that that, my phone, and a charger and I'm I'm pretty good. I don't need that much else. Headphones. >> What does relaxation look like for Ryan Serhant? >> I I'm a big believer in work hard, play hard. I think it's the best way to hit the highest peaks is to just know where the valleys are.

15:22 So like I said, I'm going to Greece for 10-year wedding anniversary. I I remember I distinctly remember getting married 10 years ago cuz I wrote about this in in one of the books and losing a deal that day. And the client was calling me and upset. They were buying a co-op on East 9th Street. And they're buying for their daughter and they got a board turn down. So, a co-op board turn down, which is which is in New York City.

15:50 And it was blowing up and they didn't care that it was my wedding day. I I could I could have put my phone away for sure. Like, I've told this story before. People are like, "Just put your phone away. Like, you can do that." But when you're the when you run your own business, like, that's a potentially a lost client forever, you know, if you don't respond. And I had people involved and other people chiming in, but you're the face and you're the boss. They they want you. And and that was 10 years ago. My life is very different now. And so, I don't do that anymore. And so, now I I just work really really really hard now and really double down so that when I say, "Okay, now it's time to play hard or relax hard," you can actually do it at max capacity.

16:30 >> are you a morning person? >> Yeah. Unfortunately, I wish I wasn't. >> What What do mornings look like for you and how early we talking? >> Monday through Friday, again, depending on where I am. But if I'm in like a normal day like today, I'm in New York. I wake up at 4:30. I work out from 5:30 to 7:00, give or take. and that is my church. Like, that's that's where I relax, but I don't relax.

16:55 But it is definitely the hardest part of my day physically. And so, I like getting the hardest part of my day out of the way. >> 4:30's, I mean, do you Are you like chugging coffee at 4:30? Are you just sitting there? >> No, I What time is it right now? So, right now we're recording this is 2:30. So, I'll eat breakfast at 1:00 and then I'll I have one of these. So, this is I mean, plug. This is our energy drink drink update, which is great. But there's no caffeine in here. It's just paraxanthine.

17:18 >> Really? >> no Yeah, it's the best. I'm I guess I am plugging this one, but you asked. I was hiding it before. But, yeah, it's And there's no crash. Because anything else, you do feel that lull. It's like after having a, you know, a big lunch. Like, you do feel that lull. Caffeine will do the same thing. You drink this, you're like, "Man, I don't know." But, then at 8:00 p.m. you're like, "Wait a minute. Why was I so productive?

17:39 And I didn't feel >> >> Was it the thing?" And you had no >> Ta-da! >> Yeah, exactly. It's not It's >> Nice sip. All right, great. What's one home product or piece of furniture that instantly tells you someone understands luxury? >> I I have to answer that question in two ways. First way is in like the finish of a home. If we go and see we have a home that's done by a developer or someone has fully renovated, like, you look for really for two things. You look for single slab.

18:07 So, in any stone, right? That is luxury. You paid not to have a break, and you paid to have no seams. >> Yes. >> you in not book match, but you're vein matched. So, vein matched single slab. And then you'll look for floor pattern, right? Because that's labor intensive. So, whether it's herringbone or new parquet, or, you know, any of the other I see so many different types of floor patterns today. you know, there's there's there's things there. In furniture, there's so many mimics today.

18:41 I will say we are selling the the Roche Bobois residences in in in St. Pete in Tampa Bay right now. And so, it's super cool. And the amount of people that understand the value of a Roche Bobois couch who then ask to have it in their unit, like we just did a huge penthouse deal there. Like, redefining the pricing in that that marketplace. That's really pretty. And then I'll also look at at the carpet, right? And and the rug as a as a better example, the quality of rug goes a long way in a home. You can fake it with most furniture and most furniture brands, like you can a lot of people do custom now because homes are such unique sizes.

19:26 But a great and highly luxurious rug with a lot of depth shows somebody that you really pay attention to luxury because it all starts with what you can touch and as you're walking through your home, starts with the feet. >> Okay, it has been said, get a good rug. If Brian's coming over, get a good rug. >> you see someone with like a cheap rug it's what else is cheap in the house, you know? >> everything probably.

19:52 >> Yeah, probably. Like or they ran out of money and when it comes to the rug, they're like just go online. Just get whatever. >> >> I was going to ask you what a red flag going into homes is, but it sounds like it's the rug. >> sometimes sometimes it's the rug. sometimes it's the rug, but you can tell in terms of craftsmanship, right? Where, you know, >> >> used to be called high hats, right? But the first thing that you'll look at when you want to understand the quality of craftsmanship throughout a house is the overhead lighting.

20:24 >> Mhm. >> One, is there? If there's no overhead lighting, maybe it's slab to slab, meaning concrete to concrete, in which case, okay. but oftentimes, if you look up and it looks relatively inexpensive or the bulbs are extra large, then you know, okay. So, the home was done on a budget, which is there's nothing wrong with that. But if you're really paying attention, the the larger the ceiling light, >> Yeah. >> the less expensive predominately the majority of that renovation.

20:54 >> Really? >> Yes. And if they have, you know, if it's art lighting, you know, if it's in the types of bulbs that you can pay attention to, really will tell you a lot to that you're paying attention to. It's like meeting somebody and they look all put together, but then like their nails are all busted. >> Mhm. >> Right? Or like the the teeth, you know, like is this a character choice or are you just what else in your life is a disaster?

21:21 >> >> I don't know. >> Really pulling back the layers. >> I would even but but like you can like I don't know. I mean, you know, you meet people who anyway, I don't know. I mean, there's like there's just little tells. >> Little tells. >> Yeah. >> All right, let's switch subjects a little bit. I'm going to ask you a very personal question which is about your hair. >> Okay. >> Tell me about it. The people want to know. You have great hair.

21:45 What products are you using? >> Mhm. >> Gatekeeping no more with the hair. >> Yeah. I started going gray a long, long time ago. I got my first gray hairs when I was 16. >> Did you really? 16? >> Yeah. And I wanted to be an actor, so I wanted to do theater. I came to New York City to do theater. And so like you know, when you try to be a professional actor you have to go out for roles that look like your face.

22:07 You know, like when you're in school, high school, college, you want to go out for roles that are impossible. You want to play a tree on Mars, you know, you want to be an artist. But when it's time to make money, you have to be seen for who you are. and then you can branch out from there. And so being 20 and 21 with gray hair was a weird one. >> Mhm. >> Because it's it becomes your defining feature. You look like a like me, I just look like a white highlighter. Like it just was awkward.

22:32 And so I would dye my hair a lot. And then when the acting thing didn't work out and I ran out of money and told me to get my real estate license in the summer of 2008 one of the first things that I stopped doing when I was out of money was dying my hair >> Yeah. >> and getting that done. And I saw almost immediately how my hair color benefited my business. Because as a young guy trying to sell multi-million dollar apartments, there's always a hesitancy. Like how long have you been doing this? Should I trust you?

23:00 But a young guy face with old man hair, people would say, "How long have you been doing this?" And I would just say, "A long time." Exactly. And then as long as I knew my and I was honorable and ethical and worked really really really hard, then everyone was super surprised to find out how young I actually was. Everyone just thought I had like really great skin. Like, "Man, you're You're so young-looking." >> You're like, "Yeah, this is great product."

23:30 >> Cuz I am young. I am I am young. That's why I look young. But the hair, I'm like, "I know. So, here's the deal." And And But my hair is incredibly thick and very curly from my mom. And so, the only thing that works to just like not have it be like cuz I hate gel. And in New York City and in a lot of markets we're in, it can be very hot and humid in the summer.

23:52 >> Humidity. >> So, it can be very very bad for the skin. And I like hypoallergenic materials. So, I am I use shea butter conditioner. >> On your hair? >> On my hair. >> Wait. But nothing else? >> That's it. And I leave it in there. >> butter conditioner? >> Yeah. That And you're supposed to rinse it out, but I don't follow everyone's rules. And so, I leave it in. And that's what works. It literally for anyone else out there who's got gray, coarse, you know, I have a ton of very thin gray hair.

24:24 That's That's what ends up working. >> Shea what? >> I've tried other stuff. I've tried the clays and all that. Like, I hate having to And because it's conditioner, if you take a shower at night, and it's it's been wanting to be rinsed out all day. So, it's >> Correct. >> Yeah. Yep. And sometimes, you know, it can shea butter will also have like kind of like a coconut smell to it. And yeah, so I guess that's that's what I do.

24:52 >> All right. Now, we're going to play a game called go bag. So, you're going to tell me three products you're bringing to each of these things. The first thing is a New York showing where the elevator is broken. What three things do you have with you? >> I've been stuck in elevators, first of all. >> Have you? >> I'm in this business. Like, I'm in the real estate business. I've been stuck, unfortunately, in many an elevator. And you really just do jump for the the phone to call before they come and they come and get you. But, there's one I think I was locked in an elevator once in the financial district.

25:21 By the time they could get to us, emergency services, because it wasn't just the elevator company came first, and they couldn't figure it out, in which case you call the fire department. And by that point, it'd been like an hour and a half. That's where I say like the the the pillow. And not necessarily just to like sit on. Just something like you don't get into an elevator and ever look around and say, "Could I live in this?"

25:43 >> >> This is a temporary situation. >> Right. >> Until it becomes a long-term situation. You're like, "Man, I need You need some comfort." That's why I appreciate those old-school elevators in the Upper East Side in those beautiful old co-ops that have chairs in them, cuz they used to cuz you got the elevator bellman who take you up and down. That's a >> Right. And even if you don't have the bellman, you have a chair at least.

26:05 >> You have the little cushion. It's great. >> Okay. three things you're bringing to a Netflix shoot day for Owning Manhattan. >> Ooh. I don't know. What am I wearing right now? update, my phone, my suit so I look like I'm in character. It's the problem with wearing the same thing for 20 years. If I don't wear this, it's throws everybody off. >> So, I have to stay I have to stay on brand to predominantly a blue suit and a white or black shirt underneath. It's become my life.

26:36 >> Okay. Three things you're bringing to Three things you're going to bring to a client who hates every house you take them to. >> Tequila. >> Good call. >> Just just straight hard alcohol. Yeah, they should drink more is really what I say. It's not that complicated. It's just real estate. So, have a good time. Have fun. We're shopping. It really is a shopping. It's super super fun. but I I will bring so Yuri in our our car, you know, show them a show them a good time. We have we have we have a Maybach.

27:08 We drive them around the city. have water for them as well. >> Mhm. >> >> To go along with the tequila. >> To go along with the tequila. No, I don't actually bring them alcohol. I should. >> You should. Maybe something to try. >> Yeah. We should. and always bring a great immediate understanding of where they can go to the bathroom. Cuz it's not always in the house you're showing. >> Oh, right. >> sometimes it is, but a lot of times we're showing new construction, we're in brand new buildings, we're in freight elevators going up and down 20 stories, and no one wants to go into the porta-potties that the constructors use.

27:44 It's It can be complicated, so always knowing like, all right, this is this is what you're going to do. >> These are things that yes, people don't think about that are not real estate. All right, last question is three things you are bringing to a $50 million penthouse pitch. >> First, we have a digital listing presentation that was put together by Serhant. So, I just have to have the way to show it. It also gets emailed to them automatically, which is great. That's one.

28:10 two is another agent, you know, Serhant's a big real estate firm, and so I always bring somebody with me. Especially it's usually them bringing me into the situation. so I'll bring another Serhant agent. That's two. And three is that athletic confidence. >> Athletic confidence. >> Meeting Yeah, meeting number two. >> Priceless. Thank you so much for joining us today. This was so fun. And I look forward to seeing what you do next. >> Same. >> We've linked Ryan's go-to products below, so you can explore them for yourself. And if you want more conversations like this, hit subscribe and join us for the next episode of Forbes Talks Shop.