Ryan Serhant, a real estate mogul with $20 billion in sales, shares key insights on confidence, sales, and business building. He views setbacks as "speed bumps" and credits a fake Rolex with boosting his early confidence by symbolizing future success. Transitioning from acting, he prioritized financial goals over pure performance. Serhant advocates "building in public" through media like Netflix and handles rejection with his "orchid trick," sending sympathetic notes. When selling to billionaires, he uses "two C's" (compliment, commonality) and a "pull strategy" by being willing to walk away, as wealthy clients pay for confidence. He lives by the "thousand minute rule," valuing time as money, and hires for intelligence and "three E's" (Energy, Empathy, Enthusiasm) over experience. As a leader, he stands on the "front lines." Confidence is built by defining identity and visualizing a "future memoir." His business model is a four-part flywheel: cloud brokerage, media, education, and AI. In negotiations, he advises to "translate, don't talk" and "throw the first punch" to gain control, focusing on understanding the client's fears.
Text overlay: "What wealthy people are paying for is not information, access. It's confidence. Confidence is currency."
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Tweet from Ryan Serhant discussing how a fake Rolex changed his life and served as a reminder of his aspirations.
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Early Struggles and Motivation
Ryan moved to New York City with no money, facing the choice of figuring out survival or moving back home.
The city is cutthroat, requiring intense drive to succeed.
The Fake Rolex as a Catalyst for Identity and Confidence
Bought a fake Rolex to project the image of the successful person he aspired to be, not to "fake it till you make it."
The watch served as a "blankie" for confidence and a constant reminder to "make moves" due to its low quality (turning his wrist green in humidity).
Eighteen months later, he bought a real rose gold Rolex Daytona for $30,000, which he still owns but rarely wears due to its ostentatious nature, valuing it as a reminder of his humble beginnings.
From Soap Opera Star to Real Estate Mogul [00:04:35]
Ryan Serhant in his former role as Evan Walsh IV on the soap opera "As the World Turns," with dyed hair.
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Acting Career Background
Ryan moved to New York to pursue theater and landed a role as Evan Walsh IV on the soap opera "As the World Turns."
He started going gray at 16, which, along with acne and being overweight, felt like weaknesses for an aspiring actor, leading him to dye his hair frequently.
Career Pivot After Losing the Role
His character was written off the show during the 2007 writer's strike, leaving him jobless and needing to pay rent.
This setback forced him to introspect about his core identity and what he truly wanted in life:
Unlike some peers who just wanted to perform, he realized he desired financial success and comfort, not a life of struggling to pay rent at 70.
He defines his pivot as a conscious decision to pursue success and never question prices again.
Speed Bumps vs Brick Walls: Handling Setbacks [00:06:36]
Text overlay reads: "setbacks are just speed bumps" while Ryan is in a car.
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Mindset on Adversity
Setbacks are merely "speed bumps," not "brick walls" that should halt progress.
He avoids treating issues as insurmountable obstacles, opting to keep pushing forward.
Motivation and Endurance
His drive comes from a deep-seated fear of losing and a desire to run as far away from being "dead broke" as possible.
He embraces being "tired" as a sign of pushing hard enough.
Success is always "past that corner, maybe," requiring endurance and continuous effort in the dark.
He describes his motivation as "pure adrenaline tracing through my bones because that fear of losing hurts a lot worse than the pain of winning." [00:08:21]
Text overlay: "that fear of losing hurts a lot worse than the pain of winning."
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Building in Public: The Netflix Experiment [00:09:26]
Ambition and Opportunity
Ryan aims to build the number one real estate firm globally, driven by a "why not?" mentality rather than a fear of failure.
His father's advice, "regret the things you did and not the things you never tried," deeply influences him.
Leveraging Media for Business Growth
He successfully built his previous real estate sales team on the back of a Bravo TV show ("Million Dollar Listing New York") and through YouTube content (starting in 2015).
Now, he's building his new company, SERHANT., with Netflix's "Owning Manhattan."
This approach allows people to witness his journey and growth in real-time.
Gray Hair Don't Care: Dealing with Haters [00:16:29]
Categorizing Audience Reaction
His audience falls into three categories: super fans, indifferent observers, and haters.
Indifference to Criticism
He views online criticism as jealousy and doesn't let it affect his work or time.
Believes that when people stop talking about him, it means he's no longer doing anything significant.
He understands that selling luxury real estate to the ultra-wealthy naturally attracts negative sentiment.
Instead of anger, he sees haters as people who need support, and remembers his own humble beginnings, choosing to be inspired rather than angry at others' success.
The Orchid Trick: Turning Rejection into Power [00:18:24]
Embracing Rejection
His primary job involves frequent failure and rejection; success comes from taking many swings.
The "Orchid Trick"
After being rejected for a deal or opportunity, he sends an orchid with a note saying, "Thank you so much for the opportunity, and I'm sorry for your loss."
He has sent approximately 2,000 such orchids.
Strategic Gifting
For successful outcomes, he sends a company book in a custom blue box with a personalized, intriguing note, designed to "peak the ears" of recipients.
Selling to Billionaires: The Two C's and the Pull Strategy [00:21:06]
Building Trust with High-Net-Worth Clients
The Two C's:
Compliment: Give an authentic compliment.
Commonality: Find something in common (physical, shared experiences, location, etc.).
The Pull Strategy:
Always be willing to say "no" or walk away from a deal. People don't trust "yes men" or "yes women."
He demonstrated this by suggesting walking away from a $140 million Palm Beach property that was outside a billionaire's stated budget, which built immense trust.
The goal is to make the decision their idea by removing pressure.
Understanding Wealthy Clients
Their number one asset is time, so they move quickly.
They communicate primarily via text for efficiency and to have everything in writing (for potential litigation).
Wealthy clients pay for confidence, not merely information or access, as they can acquire those readily. Confidence fosters loyalty.
Accessing the Bullseye Client
Billionaires are protected by a "sphere of influence" (advisors, family, friends, assistants, bankers, vendors).
The best way to reach them is through people with "commercially aligned interests" who already have their trust, such as interior designers, contractors, or attorneys.
Confidence is Currency: What Rich People Really Pay For [00:25:27]
Text overlay reading: "What wealthy people are paying for is not information, access. It's confidence. Confidence is currency."
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The Value of Confidence
Wealthy individuals have access to any information or resources they need.
What they seek and value most from a service provider is unwavering confidence.
This confidence in your advice and positioning is the "energy currency" that drives their decisions and secures their long-term loyalty.
The speaker emphasizes that "confidence is currency." [00:01:10]
Text overlay on screen reading "CONFIDENCE" in large yellow letters.
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Strategic Networking
To connect with ultra-wealthy clients, target individuals already in their trusted inner circle, such as interior designers, contractors, or lawyers, who share commercial interests.
The Thousand Minute Rule: Time as Money [00:34:11]
Ryan Serhant with a graphic overlay of "$1000" in a circle, illustrating his "thousand minute rule."
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Valuing Productive Time
He considers an average day to have 1,000 productive minutes.
He equates each productive minute to one dollar, literally valuing his time.
A text overlay reiterates this point: "Every day is gonna cost me $1000." [00:00:12]
Impact on Decisions and Efficiency
This rule dramatically impacts how he allocates time, making him consider the cost of every 15-minute interaction or commute.
It helps prevent small negative events (e.g., a bad 5-minute call) from ruining an entire day's "budget" ($995 remaining).
Harvard Business Review wrote a case study on his unique time management approach.
Hiring A-Players: Intelligence Over Experience [00:31:38]
Prioritizing Intelligence
He hires primarily for raw intelligence, believing smart individuals will "figure it out" even without prior experience.
Values an innovative mindset focused on future improvement rather than past methods.
Prefers hiring "out of industry" (e.g., ride-share app operations for a cloud brokerage) to bring fresh perspectives.
Key Attributes for Success
Looks for three E's: Energy, Empathy, and Enthusiasm.
His firm's core metrics are Speed, Quality, and Experience.
Leader vs Manager: Standing at the Front Lines [00:39:32]
Ryan Serhant gestures dramatically while explaining his leadership style, saying he's on the "front lines."
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Defining Roles
Citing Peter Drucker, a manager "does things right," while a leader "does the right things."
A leader sets the vision and stands at the front of the line; a manager ensures the team follows that vision.
His Leadership Style
Ryan considers himself a leader, not a manager.
He leads from the "front lines," actively participating and taking risks (e.g., "broadsword out, no helmet"), expecting his team to follow his charge.
Building Identity and Future Memoir Exercise [00:41:11]
Addressing Confidence Issues
A lack of confidence often stems from an unclear sense of identity.
Identity Building Exercise (Sellit.com)
Challenges people to define themselves without using their name or physical appearance, revealing how much they rely on external factors.
Future Memoir Exercise: Visualize and write a detailed memoir 24 months into the future, describing:
Where you are, what you look like.
Where you live, your best character traits.
What you're watching, your weight, what you're driving.
This detailed roadmap builds confidence, as consistent execution helps manifest that future identity sooner.
Ryan Serhant discussing his business structure with hand gestures, explaining how it aims to move people forward in real estate.
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Serrant Technologies: The Holding Company
A holding company with operating entities designed to "help people move forward" by providing services that make real estate transactions "better, faster, and cheaper."
The Four Operating Companies:
1. Serrant (Cloud Real Estate Brokerage):
Operates without traditional physical offices, except for a "clubhouse" in NYC and agent-opened "Serrant Houses" nationwide.
The firm's name is prominently displayed on the building. [00:31:36]
An aerial shot of the SERHANT. real estate brokerage building in New York City.
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The entire firm functions via phone.
Critiques traditional franchise models for losing quality due to neglected training.
Boasts a young, diverse, and inclusive agent base, doubling in size annually while remaining profitable.
2. Serrant Studios (Media Production Company):
Produces media content, including "Owning Manhattan" on Netflix.
Generates organic lead flow (top-of-funnel content) that routes to the brokerage.
Achieves a high LTV to CAC ratio (6.66x vs. industry average 1x) by not "buying revenue" (i.e., not acquiring commissions through expensive means).
3. Sellit.com (Education Platform):
An education business that trains salespeople in 133 countries.
4. Simple (AI Workflow Engine):
An AI service that replaces back-office support, acting like "Instacart for work."
Aims to buy back 80% of a salesperson's day by automating administrative tasks.
Vision for the Future
Ryan's primary motivation is to make his business "the best," not necessarily the biggest, viewing money as a tool for impact rather than an end goal.
Foresees the possibility of the company becoming public by 2030, with individual operating companies potentially spinning out.
Ryan Serhant uses hand gestures to emphasize a point about negotiation strategy, focusing on listening and mirroring.
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1. Translate, Don't Talk
Effective negotiators don't just talk; they translate value.
This involves repeating what the other person says back to them and mirroring their feelings.
The goal is to make your desired outcome feel like their idea.
2. Throw the First Punch
Take control of the negotiation by asking the first question.
This gets the other person talking about themselves, their goals, and their motivations.
Use the "funnel technique," starting with big-picture questions (e.g., "What does winning look like to you?").
To reframe a stalled negotiation: acknowledge their frustration, suggest walking away (the "pull" strategy), and then ask, "But if this were to go forward, what does winning look like to you?" This often reveals their core fears or desires, providing an "in" to address them.
Owning Manhattan Season 2 and the Evolution of Reality TV [00:54:36]
The title card for the Netflix show "Owning Manhattan" with the Empire State Building in the background.
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Netflix vs. Cable TV
"Owning Manhattan" Season 2 is set to release on December 5th.
Netflix offers real-time shooting and full creative control, unlike traditional cable TV (e.g., "Million-Dollar Listing New York"), which prioritizes syndication-friendly, self-contained episodes.
Netflix's search-based platform allows for complex, narrative-driven "8-hour movies" that target specific "taste circles" (e.g., entrepreneurial, aspirational).
Innovating the Genre
The show breaks the fourth wall, offering a more authentic portrayal of company building.
Ryan recounts an anecdote from Season 2 where he negotiates an $8 million apartment deal while getting out of the shower, showcasing raw, unscripted moments that push the boundaries of reality TV.
