Key Moments
Ryan Serhant: The Sales Habits That Closed $1 Billion in a Year
The Knowledge ProjectKey Moments
Ryan Serhant closed over $1 billion in sales by embracing discomfort, mastering the art of the follow-up for up to 5 years, and strategically creating a persona that attracted opportunities rather than just chasing them.
Key Insights
Ryan Serhant's team surpassed $1 billion in sales in his final year as an agent (2019) with commissions around $22 million.
He secured a $16 million and later a $73 million deal with a client after persistently following up for 5 years, sending personal messages every two weeks.
Serhant's approach to auditions for 'Million Dollar Listing New York' involved staging his life to appear more successful than it was, including borrowing a Range Rover and arranging early morning meetings.
He emphasizes that true success isn't 'fake it till you make it,' but rather 'act as the person you want to become,' projecting future confidence and capability.
His strategy for sales, summarized as 'Attract, Help, Ask,' involves building genuine relationships by finding common ground and offering assistance before making a request.
Serhant views his 1000 productive minutes per day as a valuable currency, treating time spent in unproductive meetings as a direct loss of financial capital.
The power of strategic discomfort and the 'future self' mindset
Ryan Serhant challenges the notion of 'fake it till you make it,' reframing it as 'act as the person you want to become.' This involves projecting future confidence and capability, essentially embodying the individual you aspire to be 12-24 months from now. This proactive mindset, he explains, attracts opportunities and propels forward momentum. He famously applied this during his audition for 'Million Dollar Listing New York.' Despite living in a studio apartment and using public transport, he borrowed a Range Rover, arranged early morning meetings to tire out producers, and even staged a workout scene. He emphasizes that this isn't about lying, but about self-actualization and aligning current actions with future aspirations. This strategic persona management, coupled with an embrace of discomfort and embarrassment, is crucial for standing out and achieving ambitious goals.
Mastering the art of persistent follow-up
Serhant is renowned for his relentless follow-up, a strategy that secured him major deals. He recounts a client he pursued for five years, maintaining contact every two weeks with personalized messages about market updates, new listings, or relevant alerts. This persistence culminated in deals worth $16 million, $73 million, and $33 million. His philosophy hinges on three 'F's: Follow up, Follow through, and Follow back. He emphasizes continuing to engage until a client buys, chooses not to work with you, or completes a transaction. The key is not to be intrusive or demanding, but to provide value and stay top-of-mind. He leveraged Google Alerts to track potential clients, sending congratulatory messages without asking for business, thereby building goodwill and ensuring his name was remembered when opportunities arose. This consistent, value-driven engagement is presented as a cornerstone of his sales success.
Building a brand through content and community engagement
Serhant recognized early on that his television appearances on 'Million Dollar Listing' provided a powerful platform. However, he understood that direct sales on platforms like Instagram were challenging for high-value assets like real estate. Instead, he focused on building a personal brand and community through content, particularly on YouTube and later Instagram. He saw the potential to transform content into commerce by creating a highly engaged audience. By consistently sharing his work, life, and expertise, he built a loyal following. This approach allowed him to attract potential clients and developers, who even began including clauses in their exclusive listing agreements requiring him to promote their properties on his channels. This created a unique distribution channel built on attraction rather than paid advertising, allowing him to capture consumers' attention and convert it into business.
The 'Attract, Help, Ask' sales framework
Serhant outlines a core sales philosophy: 'Attract, Help, Ask.' The initial step, 'Attract,' involves finding common ground and offering a genuine compliment to build rapport and earn trust. 'Help' entails assisting someone without immediate expectation of return, such as making an introduction or offering a discount. This selfless act builds significant trust. Only after these steps should one 'Ask.' This framework is particularly relevant for younger generations who struggle with traditional relationship-building. Serhant notes that people dislike being sold to but enjoy shopping, making relationship-driven sales paramount. His company, Sell It.com, trains over 60,000 salespeople globally using this methodology, emphasizing authenticity and mutual benefit in all interactions.
Treating time as a valuable currency: The 1000-minute day
Serhant advocates for maximizing productive time by treating each day's minutes as a valuable currency. He conceptualizes a '1000-minute day,' representing the average productive hours available after accounting for sleep and non-essential activities. He stresses that wasting even a few minutes on unproductive tasks or allowing others to derail your schedule is akin to losing money. This mindset shift led him to implement highly structured days, often broken into 15-minute intervals, enabling him to achieve ten times more than average. Meetings are deliberately kept short and focused, typically 15-30 minutes, ensuring efficiency and respect for everyone's time. This rigorous time management is presented as a key factor in his ability to outpace competitors, even during challenging market conditions.
The humbling beginnings and resilience in adversity
Serhant shares a pivotal low point in his life during the summer of 2008, before entering real estate. Living paycheck to paycheck, he experienced the humiliation of having his ATM card declined while grocery shopping. This was compounded by a rude encounter with another shopper. This moment, coupled with the broader economic collapse, led him to consider returning home. However, a conversation with a friend convinced him to get a real estate license. The subsequent market crash, which decimated competitors, ironically created an opportunity for him and his partner, who were more focused and agile. This period forged a deep sense of resilience and a 'get through it' mentality, which he applies to his life and business today.
The relentless drive for growth and legacy
Despite achieving massive success, including over $1 billion in sales and significant personal income, Serhant remains driven by a need for continuous growth. He views stagnation as decline in business and believes that growth is intrinsically linked to happiness. This drive is evident in his transition from a top agent to founding his own company, SERHANT., during the height of the COVID-19 pandemic in 2020. He sees his success not just as personal ambition, but as a profound responsibility to create opportunities for his team and leave a positive legacy. His ultimate goal is to build something lasting that benefits others, viewing success as a multifaceted concept encompassing personal fulfillment, family, and a positive impact on the world.
Mentioned in This Episode
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Ryan Serhant's Sales Habits Cheat Sheet
Practical takeaways from this episode
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Common Questions
Ryan Serhant attributes his success to a combination of relentless follow-up, building genuine relationships, mastering time management with the '1000 Minute Rule', and a strong focus on personal branding and selling the 'dream' rather than just the product.
Topics
Mentioned in this video
The speaker and subject of the video, a real estate broker who closed over $1 billion in sales in a year. He shares his sales habits, strategies for building a brand, and personal experiences.
Referenced alongside Forrest Gump to describe Ryan Serhant and his partner's steadfastness during the 2008 real estate crisis.
A watch brand gifted to Ryan Serhant, signifying the importance of making a good impression and giving thoughtful gifts.
A company mentioned as a successful user of AppLovin's advertising platform.
A brand associated with a sales event in Miami where Ryan Serhant's wife commented on his drive for success.
The television network that produced the show 'Million Dollar Listing', which Ryan Serhant was a part of.
A streaming platform where Ryan Serhant has a show, indicating his continued presence in media.
A company mentioned as a successful user of AppLovin's advertising platform.
A company providing an advertising engine for mobile games, highlighted for its effectiveness in reaching target audiences.
A company mentioned as a successful user of AppLovin's advertising platform.
A company mentioned as a successful user of AppLovin's advertising platform.
A tool used by Ryan Serhant to track potential clients and market activity, providing key indicators for follow-up.
A platform used to train sales professionals worldwide, offering courses and resources.
An AI-powered platform for creating personalized videos and digital personas, used to maintain visibility and build a brand.
A Bravo reality TV show that Ryan Serhant auditioned for and eventually starred in, significantly boosting his career and brand.
A reality TV show where a scene depicted Ryan Serhant's wife expressing concern about his lack of contentment despite his success.
Mentioned as a comparison to describe Ryan Serhant and his partner's resilience during the 2008 real estate market collapse.
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