He’s the biggest real estate agent on the planet and Ryan Serhant didn’t disappoint when he joined 4000 Australian real estate professionals at AREC 2023.
Via the big screen, the Million Dollar Listing New York star beamed in from the US to share valuable insights on achieving success in the competitive world of real estate.
Drawing from his vast experience and proven track record, Ryan offered practical strategies that focus on volume, a success-based mindset, harnessing the power of follow-up and more.
Focus on smaller deals… and volume
Did your mind think ‘huh?’ when you read the title of this tip? It’s ok, you’re not the only one.
There was a little murmur in the auditorium when Ryan said recommended focusing on smaller deals.
But the SERHANT. founder quickly countered that focusing on smaller deals was to be done in conjunction with zeroing in on volume as well.
Ryan highlighted the importance of serving a broader market by catering to clients who were looking to buy or sell properties in a more affordable price range.
By focusing on a higher volume of transactions, agents can establish a loyal client base and generate consistent income.
“I’d rather do 10 one-million-dollar deals all day, every day, because those people need to move,” Ryan says.
“Those people need to sell. And those people… are your aggregates. That’s your niche. That’s your market.”
Tap into big money energy
If you’ve been following Ryan and his career for a little while, you’ll likely have heard him mention “big money energy”.
But it’s not just a throwaway line. “Big money energy” is all about adopting a mindset of confidence and success.
By exuding confidence, speaking with conviction, and projecting a positive energy, real estate professionals can attract clients and create opportunities for themselves, irrespective of what stage of their career agents are at.
“That energy, that big, confident energy lives inside every single one of you,” Ryan says.
Use push-pull-persist techniques to guide clients
Indecisive clients can be the bane of a real estate agent’s existence, but Ryan has multiple strategies you can use to break the deadlock.
When dealing with indecisive clients, Ryan suggests using push-pull techniques to guide them towards making decisions.
The ‘push’ technique involves creating incentives or adding value to motivate clients to take action.
This could include offering discounts, unique marketing strategies, or other incentives to create a sense of urgency.
On the other hand, the ‘pull’ technique involves planting ideas in clients’ minds and nudging them towards the desired outcome.
Ryan says through showcasing alternative options or presenting compelling arguments, agents can influence clients to lean towards a particular decision.
The ‘persist’ technique involves persistent reminders and encouragement to help clients overcome indecisiveness and make a choice.
“If they’re being indecisive and they won’t make a decision, remind them, ‘Hey, money isn’t real. You know what’s real? Experience. You know what’s real? What you’re going to be able to do in the moments you can create in this life’,” Ryan says.
Master the art of follow-up
Ryan also emphasises the critical role of follow-up in real estate success.
His mantra is “follow up, follow through and follow back” to ensure clients needs are met and deals progress smoothly.
Following these “three Fs” help maintain open lines of communication and enable agents to build trust and strengthen their relationships with their clients.
“I will follow up with someone until they buy or die,” Ryan says.
Believe in your power to control your success
Ryan says the biggest determinator of an agent’s success is their level of belief in themselves.
He says if agents can maintain a positive mindset, believe in their skills and potential, and approach each day with confidence, they can overcome challenges and create opportunities.
“Never, ever, ever forget that you have the power to be as successful as you want to be in the future. And you can do it right now.” he says.