Ryan Serhant: The 2023 Housing Crash, Billionaires Exposed, Selling Everything

Ryan Serhant is the star of Million Dollar Listing New York he sold over 6 billion dollars with real estate and he's about to give us an inside look into the 2023 housing market in a way that you've never seen before you can buy an apartment here for 2 million and you'll sell it for five he's also currently selling the most expensive listing in the world right now selling for 250 million dollars a penthouse in New York and homes like those are sold to billionaires as in with a B so we're getting the behind the curtain look at what billionaires are actually like behind the scenes when there's no cameras there's no nothing just Ryan Serhant and them and the stories I gotta say are insane so with that said enjoy subscribe if you're not already and now let's begin but first we want to thank our sponsor Creative Juice as a Creator you're running a business and as a business you gotta have a business banking account that's separate from all of your personal stuff well fortunately Graham 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and Palm Beach that are quietly marketed for half a billion dollars you know but they're they're not actively out there and this is your personal listing or is it just we saw my house I don't live there oh right right unfortunately you know I'm just putting one down my own crib right uh yeah one day um uh yes it's our it's our listing yeah so we have it listed you missed out Jack I was telling you didn't even get to see it you didn't show up were you sleeping no well I just wanted to make sure I was ripe and tuned up for this podcast that was my goal I was like okay I'll get good sleep you'll stay in the same spot no okay so you're not staying in Harlem where he got a nice ritzy ritzy pad you got a nice spot I think it's it's two bedrooms wow that's nice for New York that's pretty good yeah I'm staying with my buddy Sean the guy that goes up asks people questions on the street he's a Kips Bay nice yeah so I'm there yes I was trying to get Jack to go and he's like oh no it's a good kind of it's like Jack how often do you have the opportunity to do this yeah no dude I'm enjoying Kips Bay 31st right I'm just loving it he compared it to a 45 million dollar home in L.A he's like well if I saw that it's good it's a really hard corner to get myself out of that I've somehow put myself in but like I've seen a 40 million dollar place in La and that just like it blew my mind and I'm wondering like okay what's the difference between 40 and 250 million so the average lay man for me I see something I'm like I don't even know what material that countertop you know what I mean yeah so I don't know I would have loved to see the view that's the one thing but I watched an entire like Long YouTube video your YouTube video on it yeah so I kind of got like the you get it the feeling for it Jake's the type of person like I don't need to see the Great Barrier Reef I saw a YouTube video on it yeah that's the same thing I don't travel I've seen Paris on TV you know what okay yeah maybe I could I saw an Instagram picture of it but exactly it looked lovely for us from the video that I watched it was yes and thanks for this we're like pinch hitting for ice coffee hour in our podcast studio in our Sirhan headquarters and so on right now our pleasure to Welcome to our set crazy team by the way like it's very rare that we do podcasts with people and they're like one two three four five six other people in the room yeah they're stressing me out with how many of them it's cool I like it yeah you create a live audience honestly Graham's got you yeah and you it's a two yeah yeah that's it yeah it's nice you are busy by the way could you walk us through your schedule because even getting you for like an hour I was talking to your team or like we should do tick tocks and this and that and then you're like yeah we know we've tried we just can't we we keep telling them this and I'm like I'll tell them too I'll back them up on this you are so busy like every hour of your day is so finely scheduled where like I have a heart out 10 15. I have to leave I'll be there exactly at this time how do you like what's your day like it depends on the day I mean so there's there's uh you know is a holding company okay and underneath that are three separate businesses so there's certain real estate there is uh Sirhan Studios right and then there's what we call satellite staring at which is education so and I run all three now there's great lieutenants and people for all of them I'm not doing everything right across the board there's a lot of different people but I'm incredibly involved in all three businesses all day long so it depends on the day real estate takes up a significant amount of my time underneath that there is there's real estate resale right there's real estate new Dev new development takes up a lot of my time there's buy side sell side stuff there's adx which is the tech stuff there's there's just a lot there's a lot of meetings there's a lot of things that I got to do to keep the business moving forward there's recruitment there's growth there's pitching where we're going to double in size this year we're going to expand into a lot of new markets so that's a lot on the education side there's non-stop content creation zooms lives coaching the mentorship and on the studio side then it's like where I have time time then it's me creating personal content which is tough which is why a lot of our content is very like Run and Gun jump in the car you know kind of Vlog Day in the Life type of stuff or real estate tours because that's then what we do right um and then wherever else I can then find time ends up being wait I'm married I should I should see her uh and then oh also I have a baby I should see I should see her you know and then I try to sleep and then you said datter days was it was that your word dad or days Saturdays no there's a book called Dad or day that someone gave to me when I when I was about to have Xena and so it's um it's actually a really sad book it's about a dad who just like well I thought it was fun but it's like this dad who hangs out with his daughter all the time and then you know Saturday is Saturday and they like have a plan every week and she like has a notepad in the kitchen where she writes down everything I'm gonna do with Dad on Saturday because he works all the time yeah right now Saturday that's the day and then in the it's like a kids book in the book like Dad gets fired dad has to get new job new job works on weekends dad travels all the time no more dad on dad or day and she like cries by the window like cartoon everything the mom's like Daddy still loves you and I like read this book and I'm like what on it's like insane and at the end like they change the day it's like Saturday can be any time right even in your imagination because Dad can't afford to spend time with you it's like it's it's traumatized so I try to wait did you read this to your child I do read it to show you seriously she's like haha daddy cry like yeah but um yeah so Saturdays are Saturdays if it's a normal week but like this past weekend we were shooting one of our new courses so I shoot all day Saturday I'll do all day Sunday when we do the courses because they can't do them during the week this coming Saturday I gotta shoot a new course Sunday's in a work day so it's there's a lot of times where it's a couple months on end where there's no days off but then where I when I have the time Saturday will be Saturday do you have strict clock and clock out times or is it kind of just like wake up let's go and then go to bed um no I'm pretty regimented it you know it depends so on Sunday nights I'll I'll talk to so my main assistant um is scale and so we'll discuss calendar for the next seven days and then I'll discuss it with my wife Amelia just to determine like hey um part of our deal right is that I come home to see Xena twice a week before she goes to bed so I see her before she goes to bed at least twice a week if that's gonna be really hard then I'm also taking her to school twice a week in the morning so I drop her off at then 9am um which is then you know which is downtown um so I try to see her a little bit more other than that I would end up getting home at like 9 10 P.M every single night because if a client event or something or I've got to stay in the office and I would just like I would literally see her on Saturdays only how earlier you wake up 4 30. it's been wow it's been the same forever what time do you go to bed to wake up at 4 30. it depends honestly it depends like the latest I'll go to bed is 11 so like last night was 11. if I can if I could go to bed at like 6 p.m I was so really right um most times it's somewhere like 10 10 30 Monday through Friday okay Saturday I won't wake up at 4 30. it depends on again it depends on the day and depends on the work and what I'm doing um so if it's a dad or day I'll like work out at like 8 A.M but I still won't sleep much later than like six you know I just won't get I just won't move yeah I'll just do what everyone else does or I'll like lay there and be like no I'm just gonna I'm just gonna look at three more tick tocks sure right and then like an hour later you're still tick-tocking do you moisturize I do much no I asked about his skin it just it looks incredible your skin looks better than mine I know 24. that is tell it tell them about that what's your secret man I thought dude I thought it was like it had to be like botox because it looks too purify you get like 12 hours of sleep every night no no I backed under my eyes now it's puffy those are in the comments um uh and it gets to me emotionally the uh no dude I I bad skin when I was growing up okay at bad skin when I was growing up and I wanted to be an actor so it like really affected me right I was super sensitive about it like it affected dating like this that the other it was super oily had had bad acting and then as that started to transition it's not like my skin cleared up it transitioned into like full-blown rosacea like a 55 year old guy in Colorado where like I always looked like I was sunburned like I was bright red and if I had caffeine or it was too warm or like any kind of triggers like if you look at it there's these triggers and I would just be bright and I would just walk in the rooms and people were like oh man what are you what are you outside all day man you got a lot of sun I'm like no I have a disease and it's uh uh you know it's not that big of a deal when you're much much older but when you're like 23 in New York City trying to like get on a soap opera do theater you know it's like that's what you're known for if you're the guy that walks in with premature gray hair and a bright red face people are like oh you're the gray-haired crayon like it's just you know it gets to you um and so uh I did low dose Accutane um four times uh I did that four times took a long time to clear up skin and then from there I read a book by a guy named Dr Nays called beating rosacea that like saved my life and in it uh actually in it he's the one who talked about uh low-dose Accutane so I took that and then there's a new laser treatment it's not new anymore but at the time it was new it's called v-beam and so it would shrink it would shrink the blood vessels in your face and therefore the pores and limit your sebaceous glands and so I did a v-beam laser treatment and like my skin fell off I looked like Freddy Krueger it was insane um and that it happens like the first time you do it and I've done it like every other December since then my skin doesn't fall off anymore like you wouldn't even notice I could do it today you wouldn't notice um but I've been good ever since um but I also I wear SPF every day I wear um an SPF every single day um I wash my face twice a day with like this mud soap and at night in this deep cleanser in the morning and I don't know a video in your skincare you really should yeah he's got oh my gosh come on I know why we don't do this stuff I'm like okay it's it's not a full video but that's a short it's viral that that's a 45 to you know 60 seconds yeah yes yes yes so SPF but I also listen at the same time I I eat relatively pretty clean um I work out a lot so I sweat a lot right so I sweat a lot so I clean my my face a lot um and then I also I don't really drink I don't like to taste of alcohol like I'll have a glass of wine once a week and I don't smoke you know or anything like that I think that also possibly helps hey what about as far as going gray when did you start noticing that 16 16 yeah what what was that experience like did that run in the family did you have someone like my dad said he started graying when he was early and he's like he'll be white by 30 and I was like gross um and it it you know it affected me just like everything right like you're a teenager and like anything that's if you you know if you're not like on the sports team everything about you is just not right and so and I also like theater so I was like bright red acne slightly overweight and I like theater and oh also I was growing so I was like sweet awesome um uh so when I moved to New York after college no when I was in college I would like Diet by myself with like the gloves and the stuff and the Just For Men thing um and then when I moved to New York all but then I would go to like a hair salon and diet but you know if you dye your hair it feels weird you know it starts to feel it's just like it's such a pain in the ass because you have short hair yeah like a woman dyes her hair she can at least you know she grows it for a little bit longer she's not she doesn't have to do it every 10 days you were doing it every 10 days my hair grows so fast and so yeah every 10 days to two weeks I'd have to go dye my hair so I could go to these auditions in New York City where people weren't like do you have great tips like what's happening like it just would look weird if you look at like early soap opera days for me on As the World Turns which is like the first thing I did in New York I am super pale because I had Zapped all the redness out right it was super pale and they were dyeing my hair on set and they would dye it so dark brown it would look black I looked like I looked sick I looked like Dracula like I was super pale with really really dark hair and I would just look like I like it I looked weak it was just weird wow but now you're like yeah but it's like a great marketing thing for you now then I gotta do real estate because then I ran out of money then I was like what am I gonna do do I go home do I you know stuff I think we talked about on our last podcast a little bit of that stuff and so then I just stopped dying it because it was also either expensive or I'd have to do it on my own it was just messy just like screw it and um when I first got into the business my hair was still dyed because I just looked weird like I was super young face super old man hair and it looked weird but then people would ask me like oh you're young like should we really go look at apartments with you and then I don't remember I think I just like forgot to I got lazy about dyeing it and then I realized retroactively people have stopped asking me how long I've been in this business people have stopped asking me like how young I am I think they they like would look at me and then look at my hair and then say and you just must take care of himself this 40 year old guy and I'd be like yep that's me I've been doing this for a long long time and then it just sort of became my calling card like people would start recognizing me from the back of my head yeah because they'd be like what an interesting assortment of salt and pepper you know yeah I think when Million Dollar Listing New York first came out the first thing I noticed was the hair and that just stuck out to me it's just it's Unique it's not good or bad it's just it's stable it is it was just the silver thing and so then I've just obviously I've obviously I've been dyed it and it's just gotten farther further and further gray ever since next time next time we do this when we hit the trifecta the hat trick for for iced coffee hour I'll walk in Anderson Cooper white and you'd be like oh you finally made it like yep do you find that stress or like a busy schedule makes it gray faster or do you think it's just all genetic at this point I think the kickoff was definitely genetic so I think there was a lot of genetics to do uh to do with that but I also think I live a pretty fast very high stress life like I'm stressed all day long are you motivated by stress it drives you I don't know I think I'm I'm motivated by pressure like I'll complain about it but I I do live off of it I'm motivated by by um by like you know by timelines right by deadlines like I'm motivated by my schedule like my schedule doesn't have to be crazy I kind of create the chaos more than anything but um I think the stress and the things and all the stuff definitely does add to to everything like you know workouts are way harder for me than they ever used to be the hair is definitely grayer the bags under the eye you know it's slowly and I become a product of my environment you know I'm just like a product of New York City it's the grime and you're you're a fan of that intense lifestyle constantly feeling like you're under pressure and uh like you gotta catch up or something you're a fan of that I guess so I mean I I'm used to it now so now it's like my normal you know it's like when people we had Billy McFarland on on our podcast talking about jail and he was like he totally understands why when people leave jail they go right back because they get so used to the structure they get used to the four walls they hate it they complain about it I shouldn't be in here the minute they get out just like where my walls go like I I nope got to do something to get back in jail I want someone to tell me what to do and I want someone to give me my food at the right time they like the habit and so I think there is some sort of like masochism to the the addiction that I have now to the insanity of the schedule into the habit of the routine mean but I do take breaks like dude there is Dad or day I do go on vacations now I never used to go on vacation my wife's Greek they spend all summer in Greece so now I have this baby baby so I'll go to Greece for a week here a week there and there's no 4 30 a.m's there like I'm not I'm not a psycho it's often people commit Petty crimes to go back to jail yeah because that's just their new life yeah I know there's kind of a weird parallel to draw but one thing I've noticed was like if you know who liver King is yes yeah so he lives a very intense life yeah right like he's working out like three times every day just constantly putting himself under a lot of stress and pressure yep and I feel like it would be more challenging for him to relax and more uncomfortable to relax than to constantly be put in this conventional discomfort of working out yeah exactly yeah he's gonna feel empty he's gonna feel lost you need the energy that way if you're that type of person I don't know sometimes I'm like man I wish I could just be someone who goes with the flow like hey there's a dinner I gotta go to the dinner I like uh you know we do that or friends saying hey you want to come hang out and I'd be like yep yep yep you basically have gotten used to this very intense lifestyle and you're a fan of it now but sometimes you do wish that you could have a more relaxed schedule yeah I just don't think I'm I'm type of person who can just wing it like I know people who you know are in the real estate business who like don't even like they don't have a calendar like I know like there's an agent I know who does like a billion dollars a year and she like she ever counted on her phone she's like nope how do you know where to go she's like oh I get a printout for my assistant like how do you know who to call and what to do and she's like oh I guess I kind of remember like do you ever forget anything she's like oh my God I forget things all the time but she does a billion dollars a year so does it actually matter she has her way of operating I have my ridiculous way of operating there's other everyone's got their own way you just have to do the way that ends up working for you yeah how often are you showing properties now I showed properties today so I was with you this morning yeah so I guess I showed that to you okay and then I went with a client I had to show properties um uh which is more and more and more a rare occurrence you know I I I'll handle VIPs now like VIPs special property special things I need to show also still you know showing don't know the other day where one of our agents needed me to show and I I showed like I'll do that if I have the time and if I can schedule it and I can I can make it happen but my time is probably not best used showing anymore now that we're you know building and growing the business is there a threshold like in terms of the dollar amount that if a client says I want you to show me properties uh 15 million dollars like is that a threshold where you would say okay I'm gonna drop my schedule or make out a day for this I'm just curious at what level you would say that you would spend your time doing showings or walking on one client particular depends if it's a if it's a personal referral client to me you know someone says you know hey Ryan I need you to take out this person like I was just with uh a personal referral who's a very very important client and it was to help them find a rental for their daughters right and like I typically wouldn't do that if I don't know the person but for them like I'm there right I'm showing them around that's that's my job and I don't ever really want to lose that um uh you know it depends it depends also on future business I care very much about future so if it's a one-time person they come through and they have a 10 million dollar budget you know if I if I can balance that time then I can take it but oftentimes it's never a quick thing it takes forever then they change their mind then they want to rent something then so I always work with with agents here it's a big part of our lead flow like I gave out 700 leads last year alone just agents here not even part of our like Sirhan connect referral Network there's a lot of lead flow to agents that work um at sirhant everywhere and so they'll take those people but typically like if it's like 20 million and above like I'll be there personally and it'll end up making sense for for time I just wanted to know what the difference is like because I'm sure it's not the same structure that you follow if you're selling a 250 million dollar house to selling like a you know 500 000 town home somewhere else like what differences for the for the average person can you expect if you're like I'm sure you're probably not throwing open houses right no it's 250 million dollar players could you know we'll do like we're doing a very very high fashion event at the big pen house right coming up um we've done a couple like hedge fund dinners and things so we'll do we won't do open houses on Sundays from two to three p.m right imagine that yeah we would never be allowed to and it would just be bad um but we'll do the alternate version which are like targeted marketing events where you get the right types of people in the space and it's something we're really really good at doing and it's it's a part of why we get hired is we can bring the right eyeballs both virtually digitally and in person to a space to try to get the absolute best price and to sell it because for a place like that right something that's asking 250 million dollars um uh someone's gonna buy it and that person's not going to even know that they wanted to buy it they're going to make the decision um once they find out about the property and they're going to say Let's go see that that thing looks crazy they know they can afford it but they're not like house hunting you know it's not like they decided honey we need a new seven bedroom in New York budget somewhere between 20 million and 500 million like that's not how people think these properties are always sold you know um and they're sold typically spur of the moment like I sold a house in Palm Beach last year um pretty famously for just under 140 million dollars and I met that guy on a Tuesday to find things in New York City we've decided to look in Florida randomly on Wednesday we flew to Florida on Thursday we were in contract on that place by Friday and the budget he gave me was plus minus 20. and so I showed him a place that was asking 140 and he walked around and then I showed him other things that you know I thought he was going to potentially buy he hated them all bought that big one how does it work if he wants to buy here and just like on a whims like no I'm actually going to move to Florida because how does that happen when you're worth yeah I know yes for us like stressful right like what am I going to do go tell my wife hey Babe by the way we're moving across the country like you know um but for somebody like that you know what changed he's a um it was a conversation that I had with him about like the necessity of being in New York at the time right like you're looking in New York City uh it's an interesting market right now you you need to be here no and he said he didn't need to be there and so he kind of sparked that initial convo he's like listen we're everywhere we're kind of all over the place but you know we're coming back to New York I think we should probably get a place oh you should probably get a place could you work from anywhere yeah I could work from anywhere and we had so many clients that I was selling to in Florida we were doing deal after deal in Florida it was like you ever thought about Florida he's like I don't know like Miami I'm like no no you don't have to go to Miami like what about Palm Beach there's a lot of Finance types who are in Palm Beach it's like oh maybe you know potentially like you know you should talk to your accountant like about the potential tax savings it's the beginning of the year if you declare residency there I don't know how much money you make but New York City tax I mean You're Gonna Save 10 right more right how much safe tax here in Manhattan so is that on top New York New York State and New York City tax I think you end up saving somewhere between 13 and 15 wow so it's it's a lot right and so um and everything all included right and because then you've got New York City property tax and everything combined and so it ended up being this massive tax savings and so yeah so that those things can happen really really quickly it's the two million dollar buyers that'll look for three years no but now I'm curious when you decide to fly to Palm Beach do you guys get in a private plane do you book like a class or like sometimes I can I can catch a ride most times I catch a ride to be completely honest like you know I love all my clients equally but if I'm going to fly with you and it's private like there's no movies we're not getting like yes there's there's a there's a flight attendant right you're there but like they're there and now I have to sit here for hours and we are just going to talk and sometimes that's good yeah sometimes it's like I gotta think about what to talk to you about like how am I going to talk about real estate the entire and then you're gonna ask me all these questions what if I don't know the question like it's a lot so on that one I met him there interesting so you feel pressured to like be friendly with them and to like continue the conversation stuff like that for me it would be the intimidation of just like you don't want to screw this up at least that's how say something dumb or like a joke that doesn't land I don't really get nervous about saying anything dumb I get nervous about like can I relax in front of this guy like if I slouch funny or if I'm like I you know because we do a lot back and forth between California and different places and like if I'm Gonna Fly private with someone I just met let's say right sometimes um for five hours like American Airlines sounds real nice you know like I'll just sit up this is stressful let's do my yeah me there because you're gonna spend so much time with that person on the way but that's also the type of like it's it's probably one of my weaknesses right there's plenty of people who can take that situation turn it into 100 other situations and they would like Envy it and eat it up and I I can do that right with with certain people um uh but a lot of times you know I find too that you end up spending time on the plans and they're reading the whole time in your reading quietly in an airplane kind of feels like an Uber where you can never really tell like sometimes you just want silence and or sometimes they're doing what and you're like are they just angry today is it a bad day or they just want to give you space yeah or they're doing work you know um which is totally which is totally fine everyone I work with for the most part ends up being like a real pleasure to work with and they're great it's more just my personal insecurities and and issues of why like sometimes I'll just I'll just meet you there and remember too when they fly private they leave on their terms it's not my terms so a lot of times guys will say hey we're gonna fly down tomorrow eight o'clock you want to fly with us say yes and then they don't show up because they had a meeting it's not they don't care about my schedule right they come like an hour late something else or they're like yeah we're gonna leave tomorrow now I flew with them let's say now we're super late now I gotta wait for him to fly back and he decides oh we're not gonna fly back on Friday I think we go back Sunday cool I'm like does that I have a life does that happen oh yeah yeah that's why they fly private so they don't have to operate within any one other timeline other than their own you know and so like you then get stuck that way and it's like okay well I gotta go now book a commercial airline it's fine have you ever thought about flying private or no you know what we we've flown private once to Canada and it was the worst why is everyone laughing is there why is there I feel like there's this because they were stuck with me because uh no one told us that to fly internationally especially into Canada to to get to leave there's one phone number you call and you gotta wait for like one guy to get on the phone to give you clearance and to give you the code and then you can take off and we it to we like waited an hour hour and a half and then you land you gotta call the same guy before you can get off the plane like we literally have content where we were just like getting real claustrophobic on this little plane sitting there and they're like sorry it never takes this long I'm like has it ever taken this long before and they were like well yes actually like we must get off this play it was awful we all we just took we just flew commercial on the way back we're like thanks so much yeah because it's like crucial Airlines they're big they're fast you know they they're easy you can have snacks you do your own thing it's fine you know if you have TSA or clear like you're not you know it's not that much of a pain in the end it's like it's it's fine and you save so much money I'm like you like I don't wanna it's I I just like I don't want to spend the money like you look at this building like we have this whole building in the middle of Soho right you have the whole building yeah is there anything in here that you that you sublease no it's all us it's not the whole building how many square feet is that fifteen thousand fifteen thousand square feet can you see where the rent is uh I don't know what my rent is right now I think the rent is 75 000 a month how much would this building be worth if you were to purchase it oh A Lot 25 a lot yeah I do not pay a rent that's commensurate with with what it would actually be worth okay right it'd be worth a lot um it would sell for a lot like I think Gucci across the street just sold for like 100 million dollars as a store one floor this is four floors that's the one thing I noticed in New York as far as the cap rates are concerned or any sort of return that you get on most Apartments buildings three three and a half percent yeah if you're lucky all the times you're just looking to carry costs because New York City is because New York City is built on appreciation it's like we combined apartment here for two million and you'll sell it for five if you can hold not all the time but like it's in a commercial to retail do you think there's ever a chance that maybe it doesn't see the appreciation long term because people are working from computers they're going to Florida now but I I would say like work from home has not changed New York City's real estate business irreparably like it it slowed it down for a hot minute but now you have different types of people right like there's always just a big Changing of the Guard it's like when China putting Capital controls and all of a sudden all the Chinese money dried up that was feeding New York City real estate then it switched it was different countries that all of a sudden came through and when currency moves right we watch currency exchanges a lot when there's currency moves money will come in or that money will leave right then you start reaching out to foreign clients and just say hey just so you know we're par now or up it would be a good time for you to sell you'll make 20 more at the same price than you would of a year ago start to have those types of conversations I'm curious because the typical person that would buy a 250 million dollar Penthouse would they're probably a billionaire yeah I would say at the point yeah ten times over many times over yes so you're probably in contact with a lot of different billionaires right yes is there any trends that you've noticed amongst like the ultra wealthy the people that like you know I could potentially never meet my entire life the average person could never meet some trends that you've noticed maybe about their personality their characteristics they're super normal for the most part I've never met like some of them are quirky but they're they're just like us like they just happen to be way wealthier do you think that there's a trend like some character trait or personality trait they're on guard they're always on guard at being taken advantage of for the most part like everything like did they charge me too much here did they charge me too much there like you can see it kind of in the corner of their eye Graham's gonna be a billionaire now they're just like I'm on the right track there you go they're on guard and they also uh they do not waste time like they don't waste time there's no like literally no wasting of the time because their time is so much better spent elsewhere and they will make massive decisions incredibly quickly because they they trust their ability to make decisions fast it's probably the biggest thing that I've taken away from working with billionaires versus working with everyone else and something that I think a lot of us can really you know replicate and learn from it's like I see so much analysis paralysis in decisions that have absolutely no need for it like I'll go to dinner with a billionaire client they order like the waiter comes over to get water orders are made there's no just like it is not that they're in a rush for dinner it's there is no benefit to the time to me to look to think what could I want oh dude what about the chicken you want the chicken do you think the state let me look I'm gonna Google review there's no [ __ ] time for that like life is short and they they get it more than anybody else um five clients who are far far far far less wealthy and the amount of time they take to think about decisions and this that and the other just like I I you know I don't say it but inside I'm like if you're a billionaire this people are so much faster you know this would be moving so much like I'm dude like sitting in here I missed like eight phone calls I've noticed that that's okay oh my gosh yeah it's a lot but like you know right now yeah this one guy so this guy is a billionaire he's texting me he's like please call me back let's make offers on both let's try to come in a little bit lower let me know what numbers you want to start at this is like a 40 million dollar apartment he's trying to go back and forth in between the two so I gotta call him back um and he's just gonna do over text I'm gonna call him back and he's not gonna pick up right and then he's gonna text me what he wants me to do they also text a lot more than anyone else do they sell voice memos no because they don't want their voices recorded I'll do like I'll negotiate something for 1.5 million and and the client will need an in-person meeting right they're going to bring their private Banker they want like they want their attorney on the phone you negotiate with someone who's worth multiple billions of dollars and it's like a DM because they just don't care and they don't have the time to to waste and they'll text their ideas and their thoughts so when it comes time to actually signing something then there's absolutely a team of very smart people that are that are risk assessing like is this the right thing to do but it's um it's an interesting World a lot of that what I've seen with at least actors is that they are very rarely involved they'll look through it they'll okay I like it all right you're gonna talk to this person now yeah and for the rest of the deal you don't even communicate with that I know it's so someone else yeah who's making all the decisions on their behalf you'll call them sometimes say hey this is what we're doing are you okay oh yeah I know whatever they say this is oh you know I'll listen to them yeah and that's it celebrities do that yeah right I deal with that all the time celebrities models athletes it's so annoying because especially in athletes they're handlers like the athletes handlers aren't you know there's business managers right there's there's the bankers Etc but it's like yeah you're gonna talk to Richie I've known Richie since I was two and Richie is a pain in these initiator he's a negotiator but he also he's got his own interests uh like he does his own he's got his own people that's why a lot of times you see celebrities running around with with Brokers or people you're like who how did you ever even get involved it's because the Richie of that you know of that celebrity and friend relationship is getting paid by Bobby you're gonna work with my buddy Bobby you're like Bobby you're giving me 50 of whatever Leo buys and so like whereas Leo where he could just come to it happens all the time yeah and it's this and then the celebrity doesn't even question it because they have so much trust and faith in their friends because they've been with them forever that they don't even think about the Kickbacks that this friend is getting the whole time and how he's living off of you whereas like you know we'll I do deals for free with celebrities they come to me and I'm like I just want the relationship anyone you know because you know a lot of people I don't need to make money on your sale I'll sell it I'll sell it for free I'll rent you this place for free I won't charge commissions or anything and yet they end up working with other people where the commission is actually more because Richie says Leo that's how it's got to get done here sorry buddy sorry buddy when he's actually being taken advantage and it's like poor poor celebrities [ __ ] up but now at the billionaire level how often do they generally negotiate on a deal because I would imagine a lot of these cases it's not even worth their time it's like the more time they spent even negotiating like five million off yeah but they don't want to get it bad yeah or how much of it is purely just they want to get a good deal it's a good deal if they don't want to be taken advantage of they just want a good deal um and they are you know they take it personally too because it could also be written about yes like there's no billionaire out there who's like secret you know for them you know and so if it's gonna be written about there's ego right there's involvement like now all their employees are gonna know what they just spent you know if they don't bury it right they're employees are going to know they're wiser than it the Ex-Wives are gonna the kids are gonna know the kids in their kids school are going to know oh your dad just bought that big place my daddy said he overpaid your daddy's an idiot like that [ __ ] happens of course Man kids are the worst like you know it's going to be written about in the papers all of a sudden the company doesn't have a bad year it's like ah well the CEO overpaid for that property earlier this year the shareholders must be pissed now they're calling for his ouster right now they're trying to take down his pay like it all yeah it all feeds into together so do they have time to negotiate and does another million or two here or there make any difference makes sense probably not but money's money and most most billionaires that that I work with didn't start that way right they they they they worked incredibly hard to get the money or the valuations that they have in some way shape or form um and they're going to keep it that way that's interesting how easy would it be to keep that Anonymous why don't more people just do Anonymous property sales put it under trust you try people talk yeah dude people talk like that deal I did in Palm Beach it was buried it was buried in llc's there's nothing public about that everywhere it was a cash purchase done incredibly quick no one would know problem is it's not the only thing we saw right so we saw a bunch of other houses and then reporters they're always talking to different Brokers and different people and then like you know I I know I know that's how it got found out one of the agents on one of the houses that we went to that my guy did not buy was just jealous and spiteful and angry and probably called up a reporters like hey I know who bought that house yeah yeah [ __ ] him this is who it is because they know it's going to be upsetting it's going to make me look bad because I was supposed to bury it and but I always tell everyone we're gonna do everything we possibly can I've sold properties for billionaires yeah no one will ever know they don't know about the deal they don't know about the property I've never posted about it I don't talk about it like no one no one no one knows but then there are the few that there's just nothing you can do how do you prevent that from happening in the future with having another agent or or could be even like a doorman let's just say see someone walk in and they're like I think that maybe that's the so I mean I did this uh we sold a place in the Hamptons once uh between 19 I guess for 40 million dollars to an incredibly well-known very wealthy person and to really really protect that that wouldn't happen he never came no one came I did everything over face time and he wouldn't even put the camera to him he had the camera on his desk facing this way he wouldn't talk or anything and I just facetimed him through and he could see the camera to the side on his phone and I walked him through and he bought that place for for 40 just over FaceTime that way and everything's buried it's owned in two separate llc's wow how do you verify though because it's a trail somewhere like how do you know how does that person even approach you the client approached me yeah how does it how did that connection was made I met him a long long time ago way before way before he was that wealthy but then let's why why the not even showing a face on face because we don't want the listing agent to know who it is we don't want anyone else we don't want each other the listing agent yeah like I'm representing him so we don't want anyone else the gardeners the attitude people I was with the celebrity earlier today and it's like you walk outside and people just take photos take photos and now they see him coming out with me right and so people immediately know what it's about and so there's there's no way around it so I'll go in different doors they'll go in different doors or we'll do things virtually there's always there's always ways but sometimes um uh it's funny like we sold uh I did the first resale at 220 Central Park South uh for 33 million dollars to Igor tulchinski awesome guy like a hardcore such a cool guy uh very wealthy guy um and I had the same conversation with him and his people right said just so you know if like because that was that depths of covet nothing like that was strange it was ten thousand dollars a foot like if you buy this right and then he also want to go to Palm Beach so he bought a place for 40 million dollars in Palm Beach um so if you do these deals I'm going to do everything possible to keep this quiet and his identity was pretty hidden because he had a huge huge mask I've never seen a mask like this fully masked all the masks he had all of them yeah um back when we had to wear masks all the time and I was like someone's going to find out and he's like oh good do you think we could put this in the Wall Street Journal yes we can actually I know exactly how to do that and he gave them a quote he gave them um a photo a great photo hey these great articles written about um how he did it and it was just a different just different mentality different Spin and I think also in his business too I I think there's probably a correlation between the more successful he is buying trophy real estate this is business the more successful his business is so then people are like oh I want to invest money with that guy I think Isaiah like sure what's his business certificate Finance okay yeah I could see the correlation yeah I mean that makes sense how much uh Ken Griffin's not that quiet oh my gosh his purchases his art purchases are everything he bought this he bought the Constitution yeah and what was the price it was like 50 million dollars yeah 43 or 42. yeah his son told him to buy it is he in New York he has a place in New York he has all the places in Florida Palm Beach and Miami wow and Chicago and everywhere else so what do you think the difference is in terms of privacy between some people and others like it seems like Igor was very much spin it around as a positive this is a good thing I think it's it's it's listen everyone's different right like there are real estate brokers in New York who do amazing amazing transactions you don't see them in press ever they have no social media accounts no nothing and then there's [ __ ] guys like me who are like the exact opposite sure you know it's um I don't know people just they I think people built their they build their businesses differently I don't know how to have my career without being as out there as I am it's how I've generated business since day one yeah right through the power of content through promotion the more people who know what I sell the better I've never had the opportunity to be quiet about it you know whereas a lot of agents who are very very quiet and are very successful if they were to all of a sudden try to generate business by being loud it would hurt the book of the business that they built over such a long period of time based on the fact that they are a complete unknown but very powerful yeah in the industry how many homes do you usually sell from social media how many leads have brought in from let's say tick tock or YouTube oh I mean uh we probably get 10 to 15 leads a day right how many of those convert into transactions over time it's not all day every day um but it's probably I mean I don't know might be 10 of that okay you know it's still fantastic one a day and that's from social media oh yes yeah 100 by leads you just mean like a client that wants to sell their home that wants buyers yeah they want to sell or they want to buy or they're interested in something they want to you know let's be in touch or they're reaching out specifically about a listing because we do a lot of promotion for the listings the new developments everything in general there's a great like when we started the company and I I had this idea of creating a a content to Commerce funnel for all things sales sales people and people who need sales people um uh and it was just weird right uh we we listed a building in Brooklyn we did the tour we did everything we we optimized it a girl saw it and came through saw the video never even thought about buying over there bought an apartment for 2.3 million dollars and then gave a quote to like the New York Post about why she bought there and it was like some of the best press we've had as a company and we have a lot of press but I took that because now I can use that with everyone to go through like hey just so you know proof is in the pudding like even if it creates one more deal or two more deals to to put property in front of eyeballs that otherwise would not have known about the property who could then potentially purchase it better yeah we sold 15 million dollar townhouses because a 16 year old daughter saw the video as we targeted that type of market showed her parents parents said oh I wasn't looking at that location but I'll go take it and they bought it it's wild how is it different than selling a 250 million dollar listing what's are you taking a different approach with like social media are you taking maybe the stance that more views the better on something like this and get it out there are you trying to curate the right type of views could you explain how that's different yeah I mean we I mean listen if something's two and a half million dollars right we we could put it all over the world and it's not gonna make a difference right we want great exposure but it's super targeted like we know that that's probably going to be a local renter or someone who owns a smaller apartment looking to upgrade someone in probably the immediate tri-state area or like an investor base right that's about it for something that's 250 million dollars I need to go and find somebody that can afford it that doesn't even know they want it so it's it's a mixed campaign of Target marketing and mass marketing so Mass Market through content and it's not just about views right it's the sharing because I don't care about the people who see it I care about how many times it's been engaged with and how many people share it because they're sharing it to somebody who could share it to someone else and share it to someone else and at that point we don't know how many times it gets shared because people will see it right and it'll most oftentimes be a kid and a kid will see it who'll show it to another kid who showed to another kid who show it to his mom who works for a guy who works for the buyer right and it's this trickle up theory of kind of how content to Commerce ends up working it's not trickle down right it's trickling up the ladder that way and so it's really really interesting and then we we enact like a real targeted campaign of personal Outreach to these people right if you can afford it you need to know about it and we're getting it in front of you or we're getting it in front of your business managers or your private Bankers or your lawyers how do you how do you do that in such a way that doesn't seem like pitchy I mean it is pitchy but you keep it super simple right you're like hey Mr billionaire my name is Ryan sariant we just listed the highest residential home on Earth I know you like trophy property if you'd like to tour let me know here's some information like you're not wasting time you're not like oh my God you need like super super super simple and people respond you'd be surprised really yeah they respond right or they'll send it to someone who will then respond who will reach out said Oh Mr so-and-so received an email from Ryan about a property we we'd like to ask is that on the accident you know they have questions and so it's so it works so it's Target plus Mass you bring it together and that's how you sell I feel like billionaires are people of that status would be so privy to like people pitching them and trying to add extra details and stuff like that so they'd be they would appreciate a nice concise you know like not you got to be simple exactly like I always remember that phrase right kiss keep it simple stupid all the time don't waste anyone's time don't be overly pitchy don't introduce yourself for two parents no one gives a [ __ ] right and they all have funnels and filters to get rid of all the stuff so like all the apps that these guys are being pitched all the time and all the nfts and all the Crypt and all this stuff and all the new business ideas it's funneled and someone will look through through it you know sometimes or just goes to junk but we have ways of getting in front of people you know where they actually will have to see it and make a decision there's a lot of different ways that we've perfected over the years can you share any of those or is that a trade secret or if it's a trade secret but if I say it here then other Brokers will use my [ __ ] you know okay so probably keep that stuff to us okay how often is it if you get reached out to by a billionaire is it like the billionaire themself or is it usually just like the you know their assistant or something like that sometimes like if it's email or phone it's them directly because you get people's phone numbers and you call them and they pick up the phone right and you have two seconds to make an impression email they'll respond but if they're like want to sell something or they want to buy something it's hardly ever them it's it's one of their handlers one of their people who will reach out and oftentimes you won't know who it is until you start to figure it out how's the New York Market changing right now with higher interest rates it definitely took a beating last year I think like most markets did right the minute the monthly cost doubled really really quickly everyone kind of said wait can I afford this um uh the biggest difference is with with doubled rates as fast as they've gone I think you've talked about this too you have sellers who are just locked in so the inventory stays low so you've kind of got this you know real estate stagflation which is sellers can't afford to sell because they can't buy where they want to go they can't go get a bigger place they can never afford it and they have a low rate so why sell so the general construction business has gone through the roof home renovations like you cannot get people because people can't move they can't afford to go buy something there's then nothing on the market because sellers aren't selling buyers don't know what to do because inventory is so low and then sellers end up just renovating so like even my little brother outside boss he's like dude I he's like I can't afford the house I want to anymore you know what the monthly payment would be so we're doing an addition but the addition now costs double what it did even a year ago because everyone is doing additions it's weird it's just huge disparity between current payments and what people got locked in yeah two years ago and you had like the same unit same building same everything one person is paying 10 000 a month the other person's paying five thousand dollars for the same unit similar price yep it's too bad that loans are unassumable like if someone was able to sell that three percent loan it would be worth a lot of money correct there are markets where you can do that you can do it in commercial I've noticed that yes yes you can do it in commercial um which is why the commercial Market hasn't changed right and it makes properties even more valuable because you can then you're purchasing someone's right residential uh at least in New York the only thing you can assume is you can assume the amount of the loan and therefore bypass what is in New York City called the mortgage recording tax of two percent of the loan amount but you are going to have to get today's rate and we were talking to someone on the podcast the other week who was saying that um do on sale Clause is rarely ever enforced if you continue just making the payments have you ever experienced that before like the bank just calling yeah in terms of let's say you sell the property but you keep the mortgage and you just make the payments on the mortgage no I've never I've never seen that before neither have I never mind we had someone else on the podcast who says he does this all the time really and has not had an issue with the banks I think twice yeah but he resolved the issues yeah it was not an issue yeah interesting no yeah in our markets and our price modes have never seen that maybe in lower prices it could be the lower price points where it's different 500 Grand yeah it could be yeah um I want to be respectful for your time I know it's almost uh yeah I gotta go sell something now yeah 3 30. good timing uh is there anything else you want to mention anything you want to throw up here pitch well you just came and did our new podcast yes the business of influence so make sure to go check it out right go check it out your Episode by the time you put this up is probably gonna be up and it's it's awesome I'll link to it that means right after this you could click that and then you could watch that there you go perfect keep watching in the link in the description more Graham that's what we should do watch me for another hour more Grand yeah um yeah I would love for everyone to go check that out I mean cool I'm everywhere but they should go check that out we'd love to love cool thank you so much until next time