Riding A Strong Year, Ryan Serhant Says ‘America Is Open For Business’
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Ryan Serhant’s eponymous brokerage has been steadily growing since it launched during the pandemic in 2020, and the New York City-based firm is now operating in eight states along the East Coast.
Serhant says he’s focused on helping agents operate more efficiently and effectively with an eye toward the future of real estate. One way that he’s made good on his promise thus far is by introducing to all the firm’s agents in September the S.MPLE workflow platform, a Large Action Model (LAM) that can understand and execute human requests in real time.
He and his agents also recently began filming Season 2 of Netflix’s Owning Manhattan, which chronicles SERHANT. agents, as well as the CEO himself, as they work to close some of the biggest real estate transactions in the city.
In advance of his appearance at Inman Connect New York in January, Inman spoke with Serhant about the technology his brokerage deploys and predictions for the year ahead. Here’s what he had to say, edited for brevity and clarity.
Inman: There’s so much right now for brokers and agents to worry about between low inventory, high home prices, the commission lawsuit settlements, the stock market, a changing administration and more. How do you know what exactly to focus on?
Ryan Serhant: My mission is the people and creating the greatest environment, culture and support system for salespeople — like, our ecosystem — and the brands that we operate underneath. SERHANT. Technologies is really a forward-thinking sales enablement ecosystem, right? It’s the reason SellIt.com has grown so much is because it empowers and enables salespeople to do more with what they have.
The reason the brokerage is expanding so fast is — and it’s not like there’s not brokerages that you can go to — is because I think our agents — and therefore our customers — understand that we’re doubling down on a future-forward model, and not on yesterday’s model.
Which, it’s so surprising to me. I would have expected a lot more news this year about every other firm doubling down on the future, and what’s happened is literally the opposite, like, doubling down on yesterday’s model. And maybe it’s out of safety, I don’t know. Maybe it’s just big firms being extra cautionary. I don’t know.
I think you definitely will see a lot of consolidation. We were seeing that even on our side. So you see big firms gobbling each other up, and then you’re going to see independent firms taking a flight to brand quality, which is what we’re seeing. A lot of our growth has come through independent brokerages and acquisitions or “acquire hires”, which has been a really fun way to bring on great partners. And we expect to do a lot more of that as we go into next year.
Let’s talk about one of today’s hot topics. It seems to me like there are a lot of mixed and vocal views in the industry on the Clear Cooperation Policy right now. Do you have a sense of what your agents at SERHANT. think about it?
Our agents are by the book and follow the rules. They follow the guidance from their managers and their local leaders. They want their listings in the MLS, right? They want their listings on every website. And that’s a big part of our pitch. We work at SERHANT., our listings are outside of the standard listing platforms, we’re using social. We’re able to put our listings in front of more eyeballs than anybody else. All around the world.
Our agents are motivated to have the most access so they can support their buyers and sellers to the absolute best of their ability. And if Clear Cooperation is not a threat to the industry but is a benefit to the salespeople that keep the industry going, then they’re all for it. But agents also don’t sit in the C suite and think about the larger movement of firms. They’re busy with deals all day. They’re stuck in traffic. They’re in open houses.
SERHANT. Technologies, which owns SERHANT., SellIt.com, SERHANT. Studios and S.MPLE, recently raised $45M in its first equity funding round. You must be proud about that, or maybe it’s more gratifying?
There’s a lot of feelings about it. And we filmed the whole process for Season 2 of Owning Manhattan.
Nice.
So it will be out there — the decision making process, and the thought process — because … things change, but they also don’t change. Like, I’m a company, right? It’s a minority investment, but it’s an exciting next step in our adventure as we move to transform the industry for the better, which is what excites me the most.
And the partners we have — between Jeff Berman at Camber Creek and Harley Miller and his team at Left Lane — are just really great strategic partners, and we’ve turned down money for years. It’s not about the money. For me, it’s about the signal and the exciting partnerships we can create and the work product that we can do. If I can provide more for more people, faster and better, to enable sales people just to lead bigger and better lives, then awesome. Let’s do it. And I think it’s also a signal that the marketplace and that the investment community see that what we’re doing is different, is working and is poised to really take us to No. 1.
Great. And I wanted to ask, you know, since we’re getting close to the holidays, are there any traditions you all do at SERHANT. to celebrate together?
Yeah, so our first couple years we started a service day. We had a SERHANT. Serves Day, where the whole company in all of our markets would go out and support a local charity and give back, whether it’s a like a [community] kitchen, or, you know, what have you, we do a lot with City Harvest, Robin Hood, etc. This year, December, the whole month, is SERHANT. Serves month for us. It’s great. So we’re doing that, and our markets are having different holiday parties and there’s different kind of charitable angles that are attached all to them, which is exciting and good.
As we approach Inman Connect New York, is there anything in particular you’re looking forward to at the event?
The collaborations and the community, and meeting as many people as possible. I think we should make it interesting. I think I’m doing a moderated panel, right? So, slightly less stressful for me than having to do a keynote speech with a whole PowerPoint — it’s very, very rare that I get up on stage with a clicker. [Laughs] So I think, and we’re going to be doing it when it’s right after the Inauguration, right?
Yes, I think that’s right.
Listen, I think on January 21, America is open for business. And what better business to be in than the real estate business? And so it seems like a pretty opportune time for us to have the Connect event, especially in New York City.
We look forward to seeing you there.
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