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[Music] [Applause] [Music] Good morning. It is 6:30 a.m. We're gonna go do CNBC this morning, Squawk Box. Talk about the shows, talk about the markets. Got my light blue suit on today. It's all about first impressions. You need an apartment? Let's do it, man. You had to reach me, Ryan, at RyanSerhant.com. Super easy to reach, anyway.
First impressions are the most important thing. That's that introduction. If I could talk to any salesperson about anything, if I had one second with them, I'd say, "Mastered the art of the first impression." Because the first impression is the last impression if you're not smart about it. The way you look, the way you present yourself, the way that you talk to people, the way that you shake their hand, look them in the eye, and you smile—your presence in the moment is so important. And I'm not talking about just for business; I'm talking about for your husband, for your wife, for your boyfriend, for your teacher, for anybody that you're gonna meet. The way that you show them that you are in the moment, that you are present in that minute with them, will dictate the rest of your relationship—if it's gonna be a five-minute relationship, year-long relationship, 10-year relationship. So that first impression is something I care a lot, a lot, a lot about, and I credit a lot of my success to that first impression.
So we're off to CNBC now, which is right here. We're doing Squawk Box, and I bet you—I don't know what they're gonna ask me, but I bet you they're gonna ask me what I think about the market. So the same amount of homes sell in New York every year, give or take, in the last 16 years—the same amount of homes sell every year. So the only thing that changes is the amount of inventory. The market is never hot, the market is never cold, the market is never blah; there's just more inventory or less inventory. It's just supply and demand. It is not rocket science. So when people say, "How's the market?" I think of that and I say, "How many apartments are on the market right now compared to this time last year?" That's really the number that you need to be looking at.
[Music] [Applause] [Music] You know, how are you? Yeah, great. What's your overalls? No, the goal is to expand, right, over the next five years or so. Also trying to manage how real estate brokerage changes, you know, and things like Town, which is a big company—lots of people, massive. If they can't pay their own bills, and then they have to close shop because of companies like Compass and Redfin and all the tech real estate companies, right, then that model changes, you know. There's a big article to cover up in The Real Deal magazine this month: "The Death of the Brokerage." Oh, is that right? Yeah, it's got a lot of interviews with a lot of CEOs, who—go on names—but all saying the brokerage model is on the phone is about to die, making money and it doesn't, because the agents are the ones who bring in all the business, right? Suzy shot—no, you're just—I was just laying it all out there. This season where you listen, I got it. They're gonna do what I got to do. I mean, Ryan Serhant has sold nearly $1 billion in real estate last year. He's been in the top 5 performing brokers nationwide for five years. He's the star of Million Dollar Listing New York, now in its seventh season, and his new show, Sell It Like Serhant, which is on now. He's also the author of an upcoming book by the same title, Sell Like Serhant. Right, thanks for joining us. Thank you.
When you started this show over six years ago, the top brokers were saying, "This is not serious real estate; this will never change." That now you and Fredrik, your co-star, are two of the top, if not often the top, brokers in New York. So does every broker kind of need to be their own brand now instead of a broker for a brokerage brand? Yeah, I spend a lot of time speaking at sales conferences and speaking to brokerage groups around the country, and one thing they all ask me is they say, "How do I build my brand and my reputation if I don't have a TV show or two TV shows?" Right, Bravo, right? Say, "Listen, you, you don't need to have that. You know, look at, look at YouTube. Look at—I just started a vlog, and it's like three months old, but it's awesome, and it has amazing exposure to a whole different group of people because younger and younger people don't have cable anymore, right? You know, they're watching everything just on their phones. And so you can create your own persona and your own brand for your business through your phone. That's all you need, and it's amazing. Some properties, even big property, selling through Instagram."
[Music] Oh, blueberries are so good. Always weigh like a protein banana bread or something here. So the three bedrooms that are built absorb, and they close the one bedrooms that are built—there's more of them that are absorbing than we have inventory for. And this is the new trend, right? 'Cause like they're not that many clothes, but everybody's coming here; they want to buy these. You're taking out way too many two bedrooms. Wait, there's more than twice as many that are in contract. What was your first impression? We've been thinking a lot about first impressions and how first impressions are also last impressions if you're not right, and that the first impression is really key. So like we're sitting here; we're gonna go pitch this big building in Brooklyn. It's gonna be awesome; we're gonna get it because our first impression is gonna be amazing. We have a track record—great success. Success begets success. But like sometimes you don't really know yourself. So like what was your first impression of me? I'm curious. Funny. Funny. I was surprised that you were actually funny in real life. Yeah. No, yeah, great. You weren't like—wow. I was surprised that you were such a genius in—I realize—okay, okay. That was your first impression—was funny? Yeah. Okay, got it. She's a strand of people. Yuri, what was your first impression of me ever, six years ago? Funny. Airy. Mommy. Six years ago, still funny. Yes, see, I was right. Okay, it was funny. It was funny with Yuri, though. Funny in the car. In the car, I can be funny. Outside, not funny. Not funny. It's like the funny wall. I can't, I can't. I gotta keep the funny inside. You really like that it worked all the time because that means that he would be driving all the time. That's why it's like, good, more hours. So I'm like, "Gary, can you stay late?" He's like, "Absolutely, yeah, boy." He's a good first impression. That's great. Yuri, yesterday I was in a broker open house at 61st Street for this townhouse we just put on the market for $13 million, and I look out the window, and you see Yuri, and I see the car, but then there's no Yuri, and I looked to the right, and I see pigeons. I look more to the right, and I see Yuri talking to the pigeons. Hanway, link that video right now. What, what is he—we just came out of a meeting pitch for a new development project, 14 units. That's gonna be a really cool conversion from a church, and it's got this amazing kind of like Amsterdam feel to it. I'll just leave it at that, but you couldn't come because it's super private, on the down-low, but now you can come to this. So now we're going up to Betches, and we're gonna do, I think an interview, maybe a podcast, maybe we drink something. So I'm priming with some protein. Let's go. Congrats on your new show. Thanks. Exactly. It's important as the world falls apart. Exactly. Hi everyone, welcome to When's Happy Hour, a brand new podcast, not to be confused with a book called When's Happy Hour—not a coincidence. This is our new podcast where we talk about entrepreneurship for anyone looking for no [ __ ] advice. Everyone can tell—yeah, I need help. Yes, and I saw this with everyone that I worked with on the show was, you know, every salesperson is—they put a salesperson hat on every day when they wake up. They're there one person in the morning, and then they go to work, and there a salesperson, and it's the classic, "Hi, can I help you with anything? Hey, do you want to see these shoes? You know, this is what the product is," and they completely forget that selling is not about the product; selling is about the relationship, like you just said, and creating that connection with somebody and not just going into a bar and asking what you want, but creating a relationship and seeing where it goes. Yeah, exactly. It's it's amazing to me how many salespeople I meet who like don't even introduce themselves for our business because we get to know people, and it's a way for me to honestly to meet new people. You know, if there's a client or a developer that I want to meet, and I'll just go through email, I follow them on Twitter; they're all good—a DMM through Instagram, or I'll see what they're doing on Facebook, because again, it's not about what you're selling; it's about who you're selling to and that connection that you're gonna make with that person, and they want to work with someone they like.
[Music] Actually, this is when I first started taking first impressions into account. So this is a little book; it says "We Know Real Property" on the front; says "Serhant Team." So I saw that most agents when they were going into listing pitches, they would show up to the listing pitch; they'd have a pitch package with them; it had their iPad, whatever they do, and that was it. And I said, "Okay, how am I gonna get a leg up on that? How am I gonna have a better first impression than every other agent who's gonna be pitching against me next Tuesday at 5:00 p.m.?" So I was like, "You know what? I'm gonna get something, and I'm gonna send it to the seller ahead of time." So I spent a lot of time and a lot of money; I created this book. So this is the Serhant Team pitch book, and it's got all the photos; it's got facts; it's got our marketing plan; it's got our bios, who we are; information about the team; trusted partners; everything—different press, our new development process, you know, different types of properties that we've done all over the country. I send this in a little black box to sellers ahead of time. It says, "Good talking to you five minutes ago. I'm really looking forward to meeting next Tuesday at five o'clock, and let me know if you have any questions beforehand." That way, when I get there, he's already gotten this information, probably gone through it at least a little bit. First impression has already said that, "Wow, I spoke to Ryan five minutes ago, and he sent me his pitch book, messaged it to my door in this cool little black box. He's already taking an investment in our relationship that no other broker has done." That was a long way. I think I've sold a lot more just because of having this book and by really focusing on that first impression, 'cause like I said earlier, if the first impression sucks, that first impression is synonymous with the last impression. It's just so—this almost done. Oh, so that did well. There's 175 West 10th Street, but brick the wave to it. It's a cool shot coming down 7th Avenue. Open it. Open it. Hey, away you good. Okay, thank you. Sure. So we have a developer meeting; we've got a couple big projects in Brooklyn; we've got to meet with our developer in the next 15 minutes. Yuri really wanted to park in the shade, so like, you know what? I'm just a very, very good boss. That way it's funny. I mean, look, we're in Brooklyn now, and there's parts of Brooklyn that are still the same way they were 20, 30 years ago, and they're other parts of Brooklyn that are now—you wouldn't even recognize them next to Manhattan. It's appreciating, but it's appreciating in a good way. It's funny because people actually know what we talked about it this morning on Squawk Box. Hanway, link the clip. Remark of a Brooklyn is experiencing a massive, massive growth. I mean, that average price point is up 6.7% year-over-year, and Park Slope now is one of the most expensive neighborhoods in all of New York—all of New York, including the Upper East Side, Fifth Avenue, everything. It's people for the longest time said, "No Brooklyn, no Brooklyn, no Brooklyn." People wouldn't even buy in Brooklyn. Investors wouldn't come to Brooklyn. Obviously, people live here; people have always lived here, but if I had an investor come to me, all right, somebody who came to me and said, "Hey, this is my budget," and I said, "Have you thought about Brooklyn?" Everyone say no. Now people come to me; they say Brooklyn first because it used to be that Brooklyn wasn't appreciating as, as fast a pace as Manhattan, but now look at it. Look at it. Brooklyn now has some of the most expensive neighborhoods in the city. Brooklyn is appreciating faster than most neighborhoods in Manhattan, and I think people just have to have more patience, you know. Everyone wants the dough now, now, now, now, which is important because you have to be quick; you have to have speed like when you're doing deals, right? When you're doing deals, are negotiating, when you're doing your daily life, you need to have speed during your day. And everyone says patience is a virtue, but I don't believe in that. I think patience is something that you have to have long term instead of virtue; it needs to be in your DNA, but to have short-term speed and long-term—you wake up every day, you need to go, go, go, go, go. You need to beat everybody else to the punch if you want to be successful. So many people complain, it's like, "Oh, oh, it's gonna take too long. All the career—no, I don't want to do this and run, do that." They want everything handed out to them; they want everything to be put right in front of them because they don't have the patience to build the career or to take the time to study, to learn, to invest back into themselves, but they want everything to be quick at the same time. Then they show up at work, and then they're not quick with anything. It takes them 24 hours to respond to an email; it takes them half a day to call somebody back because they have short-term patience and a kind of like a disease that everything long-term should happen with speed, and that's not the way life is. And now, since we're trying to find what we're going as I'm walking, make sure to like—make sure to like the video; click the little icon right now. It's gonna be really good for my heart, and make sure to subscribe if you haven't subscribed, and make sure you hit that little bell—that little bell—so you get notifications after you subscribe because I don't want you to miss an episode. You know what I want you to find out late, like you will feel—we won't be the cool kid at school, you know? Like who wants to see Avengers later? Hanway almost died. The appointment is all the way down there, and Yuri came all the way over here and is hiding. Unbelievable. So many tweets and DMs about how people love Sell It Like Serhant. Like, I don't get this much love at all in on Million Dollar Listing, and maybe this is good. Million Dollar Listing has been out for much longer time, but like, I mean, let's just pick a random one. "Started to TiVo your show after hearing how great it is." Oh, nice. Word of mouth did not disappoint. "I cried when Frank—I cried with Frank and loved how you generally cared about them, and you can tell they felt the love as well. Spreading love in this world—we need more that." Boom. These, these comments are awesome. If you watch that, likes, orient, and you love it, let me know, 'cause I sit here in between appointments and in between calls, and I just—and I keep—and I keep going through them. Mad respect. Love the new show. Show me your feet. That one's weird. All right. Ryan, loved the show. I want to teach you Krav Maga. Mm-hmm. What you want to do Krav Maga? Yeah. Why? I know what—is this? It's Jewish self-defense. I tried to sign you—tried to do Krav Maga. That's okay. I want to sign you up for Krav Maga. I think that would be great. If you're watching this right now and you think that I should sign up, you ready for Krav Maga, and then you can watch it on Russian with Yuri, please let me know below. If you don't want to see it, let me know that too. But yeah, no, no, no, Yuri, I'm lugging this now. Jammer, don't worry. I reckon toilet. Look at Hanway. Shit's getting crazy in this world by everybody. Oh.