Ryan Serhant, a real estate broker and founder of SERHANT., built a billion-dollar business by focusing on connection, service, and earning the right to ask. Known for his roles on Bravo’s Million Dollar Listing New York and Netflix’s Owning Manhattan, Serhant challenges the “fake it till you make it” mentality.
He emphasizes that ego is a primary obstacle to closing deals and career progression. These insights are drawn from Serhant’s interview on The Knowledge Project.
Ego kills deals. Ryan Serhant states that ego is a primary killer of deals, careers, and relationships. He emphasizes that true success in negotiations comes when both sides achieve a win, suggesting that prioritizing mutual benefit over personal pride is essential.
The 1,000 minutes a day framework. Ryan Serhant advocates treating each day’s 1,000 available minutes as a finite resource, similar to money. He explains that just as one wouldn’t carelessly lose small amounts of cash, time should be guarded and utilized efficiently, often by structuring days into 15-minute increments.
Become a public ‘mayor’. To establish a presence in a new area, Ryan Serhant suggests interviewing small business owners and creating content about them. This strategy involves becoming a public ‘mayor’ of the town, building a website with local reviews and interviews, and leveraging this community focus to generate business, such as in real estate.
The three f’s of sales. Ryan Serhant outlines a ‘three F’s’ framework for sales: follow up, follow through, and follow back. This means consistently engaging with prospects until they buy or decline, fulfilling all promises made, and maintaining relationships with clients who have chosen to work with you.
The only way out is through. Ryan Serhant recounts experiencing financial hardship, including a debit card being declined, and emphasizes the mindset of ‘the only way out is through.’ This approach involves facing challenges directly, taking one day at a time, and persistently moving forward rather than avoiding or resisting difficult situations.
Defining a ‘happy legacy’. Ryan Serhant defines ‘big picture success’ as a ‘happy legacy.’ This concept includes both personal fulfillment through family life and the positive professional impact one has on others, such as helping colleagues at work.