Grant Cardone Interviews Million Dollar Listing's Ryan Serhant

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something extraordinary and today I have a guy that I've been following for a long time Ryan Serhant not his original name but we'll go into that a little bit he's to ask me not to but I have to because I'm just fascinated with it and he's just written a book sell it like run right so I said yeah yeah yeah so it likes her hand and you're on the TV show million dollar listing New York case you guys aren't watching it yeah and sound likes their hand on Bravo appreciate you being here thanks okay right - have you sold how much in real estate what do you what do you think you're responsible for total I don't know we did just over 830 million last year Wow the year before I think we did something like 640 or something like that year before was 500 something juice ago yeah ten years in almost doing a billion dollars a year yeah yeah brokering yeah brokering yeah so what is ancient yeah what does that mean so the audience understands brokering so we're really sit burgers so residential real estate brokers and we take Commission's on everything that we sell so you know that 838 is made up of a lot of million dollar deals two million dollar deals you know handful of 20 30 and 40 million dollar deals and so that's the gross sales number I think gross Commission last year was like 21 or 22 million that's awesome that's all and that's why you're sitting in that chair man right so how does it guy okay before we go back to you know how you became who you are today how does it guy step into a business this extremely competitive yeah because most of the audience is watching this they're in the same space it may be not real estate but it's competitive how does a guy ten years ago step into New York real estate business yeah highly competitive and produce at these kind of levels in in that short period of time I mean the barrier of entry for sales is like down in the floor yeah that's what's so great about it that's also what's so scary about it but if it wasn't so easy to get into the business I never would have gotten into it if in order to become a salesperson or become a real estate broker if I had to go to school for four years and take on a lot of debt I probably wouldn't have done it but it was I think at the time 50 or 60 hours in a class couple hundred bucks and you become a licensed associate salesperson in New York City and you could advise people on a billion dollar deals if you could find somebody that wants to do that yeah you know what you're talking about so you start from the bottom you know there's 80,000 of us I think in the city now just in New York yeah it's it there's a lot well you start at the bottom save you rentals right and I got into the business purely just to pay my own rent mm-hmm that's the whole reason I did it was because I didn't want to be a bartender I didn't want to be a waiter I wanted to make my own hours not be stuck to a desk and so I post ads on Craigslist I'd meet people and then I go show them other apartments and hopefully they take one and that was my that was my sales bootcamp was meeting crazy New Yorkers on the street and showing them apartments that I didn't know where they were and I learned the city at the same time so I'm not from New York I didn't know anybody and those are my first clients and just sort of built up and built up and built up from there so your first deal was what do you remember it was $1,100 a month oh they were all leases uh-huh all my first deals for the first couple years were were 1,100 bucks a month in Koreatown right and so that's 1,100 hours a month the commission would be one month's rent I would split it 50/50 with the house so I've hundred $50 seventy bucks which for me at the time was like models and bottle money right yeah it was huge yeah cuz I had spent the first couple years in the city making no money whatsoever you don't get a model for 550 but I thought so at the time I know that yeah I thought so at the time but any amount of money that I could make in that you know in 2008-2009 huh was a lot of money to me yeah because I I credit a lot of that to my success today today I had no other understanding of money no under other other standing of wealth or bills or responsibilities like every couple hundred bucks I made meant a shitload to me yeah yeah and so every time I would compound that and compound that and compound that I just wanted more and more and more and it was just a matter of my time so just how much time was that willing to put in how much time was it willing to not take off and then I could pass everybody else just purely by working Harvard so who were you before this and before a million-dollar listing like tell me about how you grew up where you grew up and what the circumstances like I was born in Texas in Houston okay we're poor Texas Kingswood okay yeah it's nice yeah grew up there and move to Long Island for a little bit and then really moved it to outside Boston so I grew up outside Boston Go Red Sox yeah yeah so they just won a group outside Boston and I did like English in the theater were my things right and I went to college in upstate New York and I wanted to do theater I was always kind of what my passion was what I wanted to do I want to be an actor and that's what brought me to New York City when I graduated I took the LSAT cuz I thought I had to go to law school like every other liberal arts you know graduate and I bombed that so that didn't work out and then I I tried to be an actor could make no money it didn't work out I got into soap opera for short period of time and then they killed off yeah and then I ran out of money almost like what do I do do I move home to Colorado it's my parents had moved by then or do I stay in New York and try to figure it out and that's when a friend said listen get your real estate license rent apartments civil east buy you time and my rent was like a thousand bucks a month you know for a studio on 31st Street and Broadway sharing a bathroom with a lot of people and it was the worst but it kept me in New York City and that's what I did so when did you lose the Texas accent I never really had one but my parents aren't from Texas okay but we lived there my my sisters who were still there they have accents uh-huh but I never really pad one and they consume what's a Long Island where there's a strong accent in the moments of Boston with a strong accent so I think that the accents never really stuck to me yeah and you went with who when you went with my lyrics okay my little brother and why were they going there for work okay for my dad's job which bounced around a little bit he was doing what finance my whole family does finance every single one but what does that mean funny they're all they're all an investment banking okay yeah they make a lot of money in that space I think so yeah they do okay yeah yeah what do you mean you think so you and I mean I had a comfortable life yeah that's what I'm like all right yeah yeah yeah you grew up middle class upper middle class yeah we grew up nice we had nice houses I nice things I never had to deal with student debt you know like we grew up well and so I think that's but we always had to work like my little brother and I always had to do manual labor for our jobs it sucked it was the worst I've resented it me full fully but I also credit it at the same time you know now like I'm very very thankful that I had to work in construction and do roofs for years and years and years because I never want to do that again and I will work my ass off every day to keep me off of roofs so your dad instill this hey you got to work yes understand that came from him or your mom not my dad for sure and what was he telling you as a kid um that's you know there's a lot of things you can't control but how hard you work isn't one of them oh well I just that you know everybody else can be taller bigger smarter faster come from different families come with money go to better schools but you can always show up earlier you can always show up later so like when I first got to New York and I wanted to be an actor I lived with two guys two roommates one was there both paralegals because they both wanted to be lawyers and my dad told me and I remember he's like listen you don't have a job you don't have any boss telling you what to do they do you're gonna wake up before they do and go to bed after they do you're gonna work harder than they do and that's at least how you're gonna know whether this is gonna work or not because the last thing you want to do is just show up and wait for the phone to ring and that really kind of rang true to me and he also taught me that everything that I do is a choice so the waking up working out the making the calls doing the follow-up the emails like picking yourself up after you get knocked down like it's all a choice that you make and that makes this job very very freeing versus kind of being as depressing as it can be for a lot of people you you mean the job now the real estate yeah yeah yeah so when did you when you took the will you went to acting and then said hey this thing's gonna work out yeah it was it because of the money the opportunity honey for sure there's the money but also the happiness like there's there's a correlation between the two like I I wish upon no one to be dead broke in New York City yeah it's it's terrifying there's a lot of people that are dead right not knowing how you're gonna pay your bills that month not knowing like what I'm gonna do if I don't hit rent you know getting your credit card declined like all that stuff was very very humbling for me and I'm glad it happened to me when I was really young right when I was 22 23 but at the same time it really teaches you that no matter what your passion is your passion also has to be able to pay the bills so I wanted to be an actor but I also wasn't willing to be homeless for it and I didn't want to move home and make some money and because I never would come back right that's the thing like once I got to New York I knew I had to figure out a way to stay there because I never would come back and so that was a big deal for me so how do you make the transition from actor starving actor yeah to to getting shot on a soap yeah how were you killed off in the soap I kind of slightly killed myself with a syringe to the chest Wow top of a hospitai think it's on youtube if you YouTube Ryan Serhant and as the world turns I was waiting on the hospital exactly dr. Evan Walsh the fourth and I was waiting for a helicopter to take me to the Caribbean where I could do my research in peace yeah that's wait and so suicide yeah sort of it was me like fighting with my grandmother and she kind of wrestled and the syringe went into my chest and it was like oh and I died so when you were doing that dude what were you thinking like doing that so that's over no no started yeah yeah like like I made it really yeah man like you what were they paying you for that so put that down eight hundred and forty four dollars an episode yeah and so that was that was big right and then I had to learn about taxes and what taxes are yes FICA is yeah and then I remember calling my dad being like what happened all my money where my money go yeah where's my where's my check I grow up son yeah and he's like this is what I was angry about all the time I'm like oh now I get it so sorry yeah yeah so that's you know that was a that was an adult moment for me for sure but when I was on the soap like that's because I've been doing free theater like I'm playing a clock like I did stuff like in Union Square you know like you do everything you can you stand in line for 20 hours just to be seen for an audition and you're dead tired and then they close the door like yes it's very very very um it's it's not rewarding yeah so what do you say cuz that reminds me of the real estate agent that complains about the open house I had to sit here all day and wait yeah and then you described acting cuz my wife's an actor yeah so I understand like she waits in an audition yeah you know for a supposedly her mock-up yeah sure and then they decided with somebody completely different yeah short or tall or whatever right so how do you how do you tell a real estate agent that's complaining about the open house about the 20-hour staying in land for a maybe part yeah it's I mean it's all a numbers game right that's a big thing for me like how do you have as many balls in the air as possible so it's okay when certain ones dropped because they just will by default and that's what the whole book is about and then kind of how I built my real estate business because you know in the acting business like you don't get that part because of your face right and because you're prematurely gray or whatever the issue might be or because you suck reading the lines right in real estate the one thing I loved immediately which other people really hate is that the rejection was never because of my face hmm like someone didn't take an apartment because I was too tall right right hey didn't a gigs a don't want it or because they suck I don't know uh-huh and so I never took it personally and so it was always just that numbers game it was about whether it was the right product or the right pricing which was which was awesome for me and I think those two years trying to act and having being rejected over and over and over so personally is what built up that thick skin in me so that we're like the 84% of real estate agents who quit in New York City in their first yeah because they can't handle that rejection for me I didn't have that I got rejected all the time doesn't wrong like I in my mind I was quitting all the time because it just was brutal but it wasn't because of my ears like it was it because the way I looked on camera uh-huh it was because this is something you could control finally yeah I mean you know in a way right there's a lot of stuff and realize that you can't control either yeah bankers attorneys what the mother-in-law is gonna say what the wife says when she walks in and she doesn't like the paint color like that stuff you can't control but at least I can anticipate it and work with it whereas in the acting business it was completely out of my control but in that time you know is waiting in those lines and you wait and wait and wait and wait wait I tried to be as resourceful as possible so I would try to meet all the other actors in line right now I try to make other friends and maybe there's other things that I could do with that time and with those relationships more than just waiting for my turn and same thing with open houses like I you try to use that time as much as you can whether it's calling other agents who have similar other help in houses to see how their traffic is getting to know them you do other work on your phone you come prepared and then you know if there are 50 people who show up and you do that stuff afterwards so how does this thing come full house for you like I mean what it seems like you you had this entrepreneur thing yeah even it's an actor and then and then you get the entrepreneur thing handle a little bit in a real estate but you go back to the acting I mean it look it's like a full circle it's weird you're on TV all the time yeah I think it's a lot of people say that to me and you're the best of both worlds because you wanted to be on TV and and then you weren't and then you got into real estate but now you're also on TV doing real estate and I think it's like you know what is that line you know about luck like luck is when opportunity meets preparation yeah yeah right like you never really believed until it actually happens yeah like I prepared my whole life to be in front of a camera and I thought it was gonna work one way and it did not work that way and then this opportunity came up when million dollar listing Los Angeles decided to do New York franchise in 2010 they put out a casting call and I saw it because it was in the real estate newspapers and I totally given up on acting two years prior and I saw that it was like wait a minute I was some soap man I've done stuff before I'll go to that yeah and they were like are you the greatest real estate agent under the age of 30 I'm like yes I am and just sold myself that was the question yeah basically you know did you do that in person or did you do to a person first it was like a 30 second in-person interview I mean it was a bunch of emails and follow up and I was like a six-month audition process but I knew how to handle myself in front of the camera and now I actually did real estate and so I think that helped whittle it down so that when they cast me on the show then I just had to really step up to the plate of being the greatest real estate agent ever not really put a gun to my head to go out and make more phone calls talk to more people on the street follow up with more people because the last thing I want to do is fail interest on television as a real estate broker so you're making that claim I am the greatest yeah real estate agent my affirmation I did it yeah yeah publicly yeah everyone in the world and I also did it in my own head like what's who's to stop me like no one will ever tell me to stop selling right no one will ever tell me that I sold too much so if I wake up every single day and say I'm the greatest real estate broker ever it might not be true today but it will be true eventually so how important is that affirmation like I just talked about for you yeah yeah what people are saying to themselves every power of positivity the power of yes might say yes and figure it out later mmm stay positive and you know I always kind of look at it like you're driving in a car right and there are two types of people one person looks out the right window where it's sunny the other person looks at the left window where it's cloudy and you both made the same choice to look out a window one just decides to see a different type of weather and for me it's always been like okay so it's my choice to wake up upset bad things could happen so you can they door off right it always happened and balls will always fall but it is your choice to wake up positively or negatively and so I've always just made the choice even if I'm gonna lose reading it tonight yeah yeah I really want to be pissed off and I want people to comfort me and I want to feel bad that's not a choice I'm willing to makes I know what's gonna affect my day and no one wants to buy anything from someone who's pissed off all right they want to buy something from someone who's enthusiastic cuz that's what you sell you sell enthusiasm every day that enthusiasm and that positivity like that that has been a huge huge boon for me so you said the affirmation you made publicly yeah you know because I think a lot of people know that they need to be positive within themselves but you said hey when I make that public sure on them you know millionaire listings and say I am the greatest yeah what what is the power of you publicizing your decisions I mean it's it's the power of massive stress all right and kind of and I always do that to myself like I put I put a like a big roadblock up in front of me whether it's that I went on TV and said I'm the greatest real estate broker ever now I have to live up to it yeah or I just bought something I can't afford or I just expanded my teammate I don't know how to handle it it's always important for me to create my own challenges so that I can then figure it out and then get to the next place right otherwise I'm just stuck in okay with the status quo so by doing that making it really public and I do that now with the vlog and putting it out there on YouTube which is a totally different audience for me that I've never had a much much younger audience it's a way for me to kind of hold myself accountable like otherwise you can say whatever you want to yourself in the mirror in the shower but unless you put it out there and you hold yourself accountable and kind of maybe feel like the threat of embarrassment coming because you're not gonna hit your mark I think then what good is it the public will hold you accountable oh for sure I left the World Series game 3 I saw I saw I would say Kenya is coming out here and I see these all these images of your wife yeah that exactly like who is this woman and I said you next her I was like ah yeah yeah yet so I left at the 16 any yeah at the bottom is 16 it went 8 yeah and I was like I was on three hour clock so I'm it was 3:30 in the morning for me and I told my wife I said let's go now it's time you know she's like but you know it's gonna go longer and their TVs white and we're on TV and I'm like everybody's going to sleep okay yeah so whatever we came to get here we got all ready I said I need to go home now so many people ragged on me for leaving early why did you leave early you're the 10x man you can't leave army simply I did that night yeah so because because so do you think that that has helped you multiply your business being on TV being out there telling the public who you are and what you're gonna stand up for yeah success begets success mm-hmm people will only hire you based on what you're known for so I'm not out there telling people over and over whether it's on Instagram Facebook Twitter YouTube or because I got really really lucky on national television show yeah then no one's gonna know what I stand for especially when you're in sales whether you're selling anything selling classes or selling tires selling real estates so it's always important for me to put out there over and over that I'm a salesperson this is what I sell because that way people will know it yeah yeah in a lot of real estate agents they don't even use the word sales like yeah that's weird I can be with them 40 45 minutes and like never hear the word come out I'm not a sale if they actually say I'm not here to sell you right which is but you've used that word over and over today yeah I mean I will say though that the biggest mistake most salespeople make is actively trying to sell like that's that's like watching a pop right that watched pot never boils and so it's important to not focus on the sale sale sale sale sale well it's a different conversation you know I talk about sales all the time because that is what I do I'm not romanticizing it I'm just I'm not a real estate you know vice president or a real estate expert or real estate broker like I'm a salesperson yeah yes how I make an income right that is what my 1099 depicts did I sell something or did I not and I think once you own that and you will sell more and you will make more so and you say like if I come come look at a con it what's the most expensive deal you've done oh man we saw entire buildings this year like the most a sense of single-family yeah so the three-bedroom apartment for 31 million yeah so when that person walked in yeah you have an image of them right now yeah wife I found him the place is my diarrhea okay so you went in yeah they didn't just walk in do you call him up say I got the place for you yeah and his budget was like 10 to 20 so he spent a lot more than one that's very interesting right but you know why did you show him 31 if his budget was ten because I knew he said his budget was ten to twenty because I saw he was surprised yeah but I knew he could afford it right and I knew too that he he had a certain taste any a certain style and so I didn't just take him to something that was 40 million bucks yeah I showed him other things definitely showed him all the things in his price range and I saw they didn't like them and he wanted to stay in a price point I said listen I've got one thing that's gonna knock your socks off yeah and that's that Wow mom yeah right yeah showed him something for 40 million bucks anyway did he know how much it was gonna be there yeah I totally saying I was like listen don't don't be pissed off for Michelle yeah it's 40 yeah yeah and after he really liked it he's like this is crazy this is crazy let me know when they can get a 28 and they said listen it's never gonna get to 20 yeah what if I got it to you for like 30 31 and now all of a sudden that's like a nine ten million dollar discount really at market lucky yeah and in his head he's like moved to maybe well that's a really good deal versus getting something you know looking at twenty getting it for 18 yeah I take 40 at 31 uh-huh it's a relative discount and everyone as a discount buyers specially right now and so then we just worked on the deal and it was just about the deal so how important is it because you just hit on something on the numbers that I think a lot of sales people miss when you took the guy like he's he's trying to practical eyes sure his own clothes yes and you did something that I find fascinating okay which is look 22 18 sounds good 42 31 sounds even better yes so how often are you doing that with a bar or or even a seller it's something I call it the WoW moment and I put it in the book because it really works it's psychology of the deal and it happened to me that's how I learned about it when someone sold me a pair of shoes that I didn't think I could afford but I was like wow these shoes are awesome you know and in that building because it bought in a building that's very expensive on Park Avenue you know they're the forty million dollar apartment was was mid-tier like I saw to that people were spending you know seventy-five to a hundred million dollars just for an apartment and so it's not like I showed him the most expensive thing but I showed him what was the best oh that blew away everything else that he was seeing and that was a WoW moment and I didn't push him mm-hmm at that point I was like alright now let's go back to what you were looking at yeah right and it was doing me wrong the twenty million dollar apartment is really really really nice but compared to what you just saw it wasn't as nice its crumbs yeah it wasn't as nice listen you do the same thing whether you're selling something a hundred bucks versus two hundred yes so inventory let's talk about the inventory because I talk a lot about moving people in inventory don't stay on one thing or move them around how much it always I do it I love a good soybean I never get guys in here I get I gots it know how to run a business have big businesses make a lot of money but nobody really ever understands selling yeah this is I'm glad you did this for real estate agents because no problem they needed yes because most real estate agents I said this before most of them suck as salespeople yeah you agree with that most salespeople the problem is is like think about an athlete right you're at the baseball game right yeah like those guys train their entire life offseason for everything right they've got the training training practice practice practice so that they get that one time at bat to show them what's up mm-hmm salespeople they they go to school for a couple hours maybe and then all of a sudden their salespeople and they're up at bat yeah yeah yeah there's a there's a mental breakdown there well yeah I don't more sales people actually do training yeah and whether it's reading this book reading your books like doing the trainings to learn that there is like there's an F lettis ISM to it there's a skill and it's not about like swindle in people it's not about taking it's not about convincing selling is 100% just about assuring right for me it's always been like that assuring somebody of the choice that they were gonna make anyway or of a choice that's better they just even know it existed and that's the inventory conversation yes that's showing people different things so for that guy he really really really wanted to be on Fifth Avenue and I know this is so relatively crazy because the world I live in is so whacked with regards to pricing and location but it's someone really wants to be on one Street and I forced myself and him to go to a couple different streets he didn't want to mm-hmm once he saw what was on the other Street what the relative value was right right thinking about this before but and if the deal makes and then all of a sudden those wheels you're ticking and then that's what you can start working with yeah and to me like you're helping him shop through yeah because I think people closed on logic yeah I believe people closed logically they buy emotionally 100% but there's got to be logic yeah there's got to be something to support my emotions I said something I'd say particularly with people that kind of money yeah and is they didn't get there by being just emotional no of course not they all work incredibly hard and what I tell you about all the time is I cannot negotiate with someone's wallet but I can negotiate with their feelings mm-hmm so I people buy with that hard time like they like I knew that he had money yeah he could afford something whether he wanted to spend it or not right but I'm not gonna show a 20 million dollar place to a guy that has a million bucks in the bank so I'm not gonna waste my time like I can't negotiate with how much money he makes right okay well you can get approved for but I can negotiate with the fact that he's gonna fall in love with this place cuz it's gonna make him feel like a better person mm-hm and that's gonna be good for his life it's not me doing anything else other than saying with this home or with this product they're gonna wake up feeling better you might be freaked out for a moment you wake up feeling better you're gonna be more excited you're gonna work harder to work for it because I do the same thing I just bought a house that scared the out of you how much eight eight million yeah no my own house right with my wife and we're gonna renovate it and we're gonna be in it for 10 million bucks and I'm 34 and I was a hand model 10 days ago congratulations Thanks you know in seven four years old that's I did that for myself because it freaked me out you know I wanted it because now I'm gonna work harder you fight won't finance it off you finance it yeah yeah thirty years so you got thirty year commitment to get out of it before but you know it's you set that kind of gun to your head and that's like that's what million dollar listing did for me like that more than anything was a psychological shotgun to the face that said you better be the greatest real estate broker in the world you better soak up all of your potential and otherwise the whole world is gonna know you're suck yeah yeah that's there's nothing better than fear of failure to ignite that initiative taking that we all have inside of us and I so would you recommend that everybody get on TV yeah they get a TV show yeah I want a TV show I don't have one you do I'm on it right now oh listen everybody more than anything no one under the age of 30 has a cable it has cable anymore like my blog right here doesn't really what cable TV is right he called it Cobell and so everybody can get a phone everyone can get a phone to get a small camera yeah I can make their own TV show on YouTube and their generation is gonna watch it or the younger generation that's gonna be buying things and the fact that more people aren't doing that blows my mind and it doesn't really matter if the show sucks right no you grow over time I mean the vlog for me that we have now is not the same vlog that it was at the beginning of the year you learn from feedback you change you adapt and that's what's so great about doing it on your own you can change like it's okay and in which this show I could shoot today yeah get shot a little faster than million dollar listing right yeah like how long how long you spin on night oh she's nine months take nine months to make one season yeah that's crazy takes a while well cuz they follow the property they follow the deals oh yeah my blog is a follow deal so Dave I don't get any work done bro well cuz it's my actual job it works out pretty well and I've done it now for years you know you know that I know that I'm gonna have an open house for a listing that we're actually selling and so they show up and follow it and then the deal dies and they're right there and then watch the paint yank wish so it works biggest disappointment you've had on the deal on a deal yeah do you remember deal that just went sideways and I remember them all man yeah I mean they're all so painful you know I mean the big one though the big one that you were counting on dude it was gonna be like okay that's the one yeah I would say a building that I lost building actually that I got fired from right that was the worst one because that was just connected with a lot of people but yeah like getting fired is the worst I was on a building was the biggest building ever it was four hundred and forty two apartments that I had to sell which when you're just a regular real estate agent trying to sell a handful of homes a year to all of a sudden be given an entire building like that's you start thinking about like oh wow that's almost like guaranteed pay guaranteed sales and they will sell because you know the developer has to sell them yeah developers not gonna just sit there with apartments and not sell them so they will sell and getting fired from that was was the works because all of a sudden that was like I had this I had this nugget this golden nugget idea and they fired me and they gave it to somebody else and I'm still getting revenge for it why did they fire you I was a host of things it was that I was too young right that was one part of it and that's discipline yeah soup not really not his real estate agents no one cares man that right that was young it was part that I that I you know that I wasn't supposed to I was supposed to be there seven days a week and I was super hard for me and they wanted a bigger more experienced broker amongst other things and how are you getting revenge I go after every other building in the history of the world to try to get them to show those developers what they've missed yeah and how much that drives you a lot talk to me about that yeah I listen I'm driven by me revenge is a pretty like effect thing right yeah it's but I mean I know I can relate to you sure it's like I like to get I like to get even yeah or ahead it's it's you know there's I think we all ride this equal balance between like confidence and fear right and like you can't be too confident or you're an and you can't be too afraid otherwise you'll never get out of bed in the morning and so for me it's about trying to find that that balance on that seesaw like how can I be as confident as possible but also realizing like what's at stake and what's at stake is being broke is not having the opportunities that that I have today and waking up every day and remembering what it was like to be broke in New York City in 2008 and never going back there ever again for the rest of my life what drives me yeah yeah and so the the with the other brokers like where you rank with the other brokers in the market how much of that is that's a lot - I mean listen it's it's I would be lying if I said it didn't play into it like our numbers are important right I want to sell as much as possible with the biggest team possible so that our numbers are as big as they can because once you at the top you only am down to go right and we were number one last year I have no idea where we'll be this year I hope we're at the same point hopefully it's but it's weird year New York City real estate is tough there's been a massive correction in New York which the rest of the country is gonna start to feel slowly like icy cracks now maybe where I go this year compared to the last couple years when it's been a seller's market and I start hearing people saying a caesarian slow down it's weird what's it like in New York I'm like in New York the average days on market is 260 well right over 4,000,000 the average days on market is 450 so that say that last learn again the 4/5 over 400 over 4 million dollars yeah any listing over formula it's a lot the year in an average days on market is well over a year well you know and that's because they're overpriced there's not bars the price in there yeah its oversupply there's more supply on the market to handle buyers for five years in New York Wow so it's because of all the exact but then goes down goes up it goes down yeah because of all the buildings there's also people moving out taxes have played a role in as well you know the salt reduction has been a pain but they come here everyone's coming here go to Texas to buy apartments here yeah they're coming here or going to Texas that's right yeah so are you seeing the migration or y'all feeling yeah of course yeah and people a lot of apartments for people that have picked up and moved to Florida picked up moved to Austin listen listen I've been saying this yeah the migration is happening that works listen you see there's no other place like New York so if you have to be in New York that's right in New York you know in New York is a place where appreciation is is bar none you know so you can buy you can still buy something for a million bucks in a couple years might be work to and you didn't have to do anything to it it's hard to do that in other places so what do you tell your team during these periods of oversupply buyer's market like how do you keep them focused and making enough money to stay in the deal well we we like volatility like brokers right we're agents so we want to make money on the way down and we want to make money on the way up but it's you know in either of those markets someone's really difficult if it's a buyers market the buyer is difficult because they're saying no it's going down it's going down I wanna buy today I don't know buy the trick in a seller's market the sellers like no I'm not taking that low offer I'm not even taking the asking price offer I want higher but we like the volatility because at that point both sides are willing to do deals so I tell the team just to stay strong keep your head down and start dialogues there's nothing worse than you can do did not start a dialogue with somebody you should never let a person leave the room unless they made some kind of offer even if it's 10 bucks like what would you pay for this it's asking 2 million you pay a million for it yeah well yeah but no one's ever gonna I could take it for a million that's ready see right yeah I'll give you a counter 1.9 all right now we're bridging the gap all of a sudden and then he didn't know they wanted to buy it but because they started a 50% off and that was so ridiculous now at least you have a conversation that you started so would you write would you write that guy and say hey let's put it on paper even if it's ridiculous you can yeah but I I think that you know no matter what market you're selling in just starting that price conversation gets people psychologically motivated to actually eventually spend the money mm-hmm you know and that goes a long way even in markets where you have to write offers and do you know good-faith deposits it doesn't stop you from picking up the phone and talking to the other side or talking to the seller talking to the buyer and saying listen we're thinking about writing an offer but right this price even get us close mm-hmm where would you come to and just having that conversation keeps people excited you want to set expectations and get people into the game yeah and the buyer sees you working for me try trying give me other than just being somebody who's showing them things that they already saw on the internet yeah yeah Hey look I know when I moved to Miami we we moved from LA to Miami I knew every house in the market yeah I knew whether it was facing north south east like I could almost feel the breeze before I got here and then I had somebody show me stuff right and they're like I said have you been in that house know which ways to face I don't know yeah you know is it a good deal I don't know that product knowledge is key it's super important you like you simply put you have to know your otherwise why would anyone buy anything from you right like your sales people our ability is is not just in talking to the client after about the product but it's knowing the product like I always say like you walk into an Apple store and you like talking to all those people there because they know everything you got that damn phone your genius yeah right would you go into a gym and pick a personal trainer that's super out of weight huffing and puffing I've seen people do it yeah look you can yeah or you can go with the person who looks like they know what they're doing because they take care of themselves and you'd say well that guy really knows what he's doing or that girl knows what she's doing so I work out with them because they're gonna be the best use of my hard-earned money same thing for salespeople so you but you talk about appearance okay I like that because you came in dressed today you know in a time where t-shirts like when somebody makes it now it seems like the thing they do is they go to t-shirts yeah Ivan I guess I haven't made it yeah I don't know yeah but you came to dressed I really respect that by the way yeah and so how important is appearance said you my appearance has nothing to do with me I'm not wearing a suit and tie because of me I'm doing it for you and I'm doing it for my clients you shouldn't have yeah you're welcome right I do in honest it's out of respect for the person in front of me he's interesting the end of the day I'm just a salesperson I'm bringing a service to other people so it's a show of respect that you wake up and you dress nicely for somebody else I may think you're the because you can wear a t-shirt and show up and if that works for you like Who am I to say that yeah it shouldn't work for you right but it's also kind of a sign of disrespect that you don't care enough to an iron your shirt yeah yeah you know like that stuff just pisses me off yeah maybe it's old school but at the end of the day you're not old enough to be old school dude yeah how old are you at 34 yeah so you can't even use the old-school thing yeah but a day like it's like you first impressions are everything yummy and if you are not careful your first impression is also your last what do you do when the first impression is not good I'm sure you've had something where you know particularly in the TV space yeah right trying to fix it but so you can't write you can't have you turned around bad first impression of myself know about others to you oh are you sure I mean yeah because I always got confused about the first impression thing because I'm like does that mean that like I'm out now because I didn't make a good first impression cuz most of time I don't I think I tried to I think I try to apologize when I when I know that I've made a bad first impression huh or at least try to show that that I've you know I am worth something like I have someone of value and this is what I can provide to you but unfortunately a lot of times you don't know that you've given a bad first impression like you don't know yeah you know unless someone sets it to your face you just never hear from that person ever again you don't know why it's probably because you get had a bad for suppression and then it became your last impression right right and that sucks yeah yeah I know I know I know that when I make like oh he doesn't like me or maybe I'm just being sensitive and they do like me but I you know yeah maybe so how are you sensitive are you sensitive Lee I think so yeah born July uh-huh yeah yeah I want everyone to like me just like everybody else yeah you want to be like your bad from both yeah yeah both but listen if they don't buy for me now but they like me yeah they will buy for me or refer me sometime in the future and I'm not going anywhere so last thing I want to talk about the book and where people can get it so Namsan I'm sure yeah that's okay okay it's everywhere everywhere books can be I think it's right here in Miami right now yeah where do you want people to go to get it Amazon good answer Barnes and Noble that find it on sale like Serhant calm audible ebooks like it's everywhere did you read the book did you read it yourself yeah of course what do you mean of course what most people don't read really know most people have somebody else read it yeah that's unfortunate no it's terrible yeah I mean it's my whole life like it's everything yeah that I've ever known about selling and how to structure your day like little stuff that I haven't found on my own about like what you know what to do when you wake up you know how to how to really be your own boss it'll be your own CFO your own CEO Oh like all the little minutia down to the the bigger picture to and it's funny yeah it's my life has been a serious so how many unfortunate events had it seems like it's pretty fortunate and we're meeting we're spending time together you know now so so how how do you start your day I get to ask this question all the time I don't know why people are so hung up on this big question yeah I wake up depending on the day I wake up between 4:30 and 5:00 okay I answer emails from the night before or I fire off emails that are gonna start the day that way when people wake up an hour two hours later they already know that I beat them all right that's important and then I go to the gym and I work out for an hour hour 15 come back shower say goodbye to my wife head off to appointments for my entire day do a dinner event or two or something that I have that night come home hang out with my wife a little bit answer emails clean up the day prep for the day ahead because your day ahead always starts the night before pass out wake up start all over again how many hours a day well how many hours is now I mean it depends on what you call work the old day is work like yeah so 5:00 a.m. to 11:00 p.m. you never turn it off really no but I also like I you're good come on sitting in the office yeah yeah I understand all over the place so that work-life balance for me is is all the time because there's synergy to it and the guy I talked to my wife all day long FaceTime ur all day she comes to as many events with me as possible and she's great for my business yeah people like me more because they know that she can handle me yeah and how important is that haven't had that somebody on the same page with you super importance she knows what I'm going through yeah no and she what she's a dance she's lawyer okay yeah so she understands and she gets it she can help me reason things through when I'm being irrational and crazy and sensitive right and she can say let's take a step back and really think about it so that's helpful and so she's been great she's been good for me personally and for business obviously and and she is she pushing you to say hey let's go do some more let's do bigger things yeah kind of I think she would say she does for me she she keeps me even keeled you know as much as I can be anyway the book sell it like Serhant you guys know how much I like sales okay like you're not gonna go anyplace without if you weren't selling real estate what would you be selling I don't know I would probably still be playing a clock and some off-off-broadway performance you know making two bucks a week it'd be great it why didn't you do the hedge fund thing why didn't you go into your dad's but I didn't like it it wasn't for me and I wasn't smart enough yeah it just wasn't my thing if that's what I would do when I come back I'm coming back is either hedge fund guy options maybe both yeah maybe maybe by that time I can do hedge fund and have a portfolio manager wrapper that would be last piece of advice Ryan you would give anybody out there thinking about getting in real estate or sales or trying to take their life to the next level my best piece of advice would be just to do it right I would rather regret the things I did and the things I never tried there's so many people I meet who got their license five years ago and still haven't done it who haven't left the job that they hates who are still working part-time somewhere else because they're too nervous like you only have one life to live and before you know what we will be dead so just get up your ass and do it do you think how do you know that's true by the way I because it's you only live ten years ago I was Oh metaphysically dude I don't know I think there is some sort of what everybody say that everybody says this like they're so confident you only live once I'm like how do you know that as far as I know I only live once and that's how I'm gonna live my life now if it trues if it comes out not being true yeah I'll come and find you and be like dude this life I'm taking it easy cuz I got another one coming but as for right now I'm living this one like it's my last see you see I push harder because I think maybe I do come back oh that's a rapper or hedge fund guy coming okay hey guys grab the book okay now if you're not in real estate with the books still help you yeah it's you know I did a show on Bravo as well that you can watch called sell it like Serhant where I went in and I helped other salespeople who don't do real estate learn how to sell whatever they sell from cabinets to hot tubs insurance body waxing memberships and so the book is for how to sell anything it's not just yes yes is really important for you guys out there this guy's selling 31 million dollar projects if you can figure out how to sell 31 million 80 million 100 million guarantee guarantee you you can transition to hot tub yes okay and you should work on selling other things not just the thing you're having trouble with okay thanks a lot for being here man I know it's gonna help a lot of people hey get yourself in a position to sit in that chair right there dress like this dude he's got all his he's got all the bands going he's looking New York I was looking fresh he's looking good and he's creating success and sharing that great example you need to do the same thing thank you for watching power players see you next time today the convergence of Technology and imagination has reached new heights which are reflected in the advancements that we see in every area of our lives over the last couple of years AI machines have made their way into our homes the battlefield our workplace and even into our hands in the form of smartphones with voice recognition digital assistance for the home represent an opportunity if you know how to take advantage of them that is where Nico's Computer Engineering comes in Tim Clark brings you the latest news about the most up-to-date strategies to position yourself in the digital landscape finding a path to productive business applications and how to automate them with artificial intelligence are just a few of the topics we cover in our weekly segments throwing your future protecting your past JD frosted company P LLC is a public accounting firm offers a variety of assurance and tax services to businesses and individuals the Chattanooga and surrounding areas we focus on construction and manufacturing industries our primary objective is client satisfaction through excellent customer service work with the best we are accredited by the BBB this is JD frost and company for a full suite of taxes surance and management accounting services visit us right now at Frost CPAs comm mail tag is an email tool that helps you make more sales in less time imagine sending out an important email and knowing if and when it was opened imagine it was a proposal or your resume 78% of people you are sending email content to never read it unlimited real-time tracking email scheduling pings and trusted by 13,000 plus professionals worldwide start your 14-day free trial with mail tack JC low quality leads and leading voicemails for prospects is no way to grow a business we both know that what would 50 100 or even 200 new customers contacting you directly every month mean for your bottom line if you're a contractor then we can help you fill your pipeline and start today at current leads we help you fill your schedule with solid appointments get more leads write more estimates and close more deals need funding to scale your business we've got you covered Chrome leads is here to help you to build your business brick by brick call us today at four zero three seven one zero six two seventy one that's four zero three seven one zero six two seven one or visit us at chrome leave Tom today [Music] more comfortable you get with yourself the less scary it is for people to actually see you we all know as parents that there's nothing more powerful than and how can I be that extraordinary parent for my kids and how kind we are to each other [Music] the more that you love you the less you care if others love you the idea is to really just choose to be with yourself [Music] the challenges and the struggles and the frustrations and it self-doubt and insecurities can often keep us from living we can master our lives from the inside out [Music] Chris root of hustle wholesaling chris is in the interesting real estate space but he's figured out a little niche of it flipping deals what he calls Hotel and wholesaling I want to show you how to get into real estate without making all the mistakes I have he actually doesn't own the real estate what he does is he buys a contract he basically you don't actually buy the contract you control the con for correct visit Chris recom to book a call right now hey are you looking to invest in real estate my name is Grant Cardone I'm the founder of Cardone capital and for the past 30 years I've been making money with my first business taking that money and putting it into my second business real estate if you're anything like me the hardest part was making the money the second hardest part was where do I invest it now that I have some when I looked around my only options were stocks bonds and mutual funds and I hated all three of them because I'm a coward and that's why I started investing in income-producing properties today we own almost 5,000 units around the United States that produce positive cash flow every single month today qualified investors can now invest with us at Cardone capital where we give you access to institutional size deals these are monster size deals that can weather time look if you love real estate if you're qualified investor and you love real estate but you don't have the time you can't find the deals and you don't have the know-how go to Cardona capital com I would love to partner with you on my next deal

Channel: Grant Cardone

Views: 413,944

Keywords: passive income, grant cardone, real estate deal, income, real estate, grantcardone, money, yt:cc=on, investing in real estate, million dollar listing, new york real estate, success, ryan serhant, real estate broker, sales, real estate deals, entrepreneurship, cash flow, real estate investing, how to close a deal, commission

Id: SzaNrEThHDM

Length: 50min 15sec (3015 seconds)

Published: Tue Oct 30 2018