Asking Luxury Real Estate Agents How To Make $1,000,000 (ft. Ryan Serhant)

Summary

This video explores the high-stakes world of New York real estate, featuring interviews with top agents who've sold properties worth millions. It delves into the lucrative nature of the business, the challenges of dealing with the ultra-wealthy, and the secrets to becoming a successful agent. From humble beginnings to seven-figure salaries, the agents share their journeys, offering insights into the dedication and strategies that have led to their success. The video also includes a private tour of some of New York's most expensive listings, showcasing the opulence of these properties.

Takeaways

• 🏠 A single house can be sold for over two million dollars, as illustrated by the video's focus on high-value real estate transactions.
• 💼 Success in real estate requires persistence and a long-term approach, as highlighted by the agents' stories of growing sales over the years.
• 💰 The potential to earn millions in real estate is real, with some agents grossing over a hundred million in sales, and others making over two million dollars in a year.
• 🔝 Top real estate agents differentiate themselves by being relentless, having a strong work ethic, and focusing on long-term relationships rather than quick deals.
• 💼 Building a sales team can significantly increase earnings, with one agent's team achieving over a billion dollars in sales.
• 🏡 The time to sell a property can vary greatly, from a week to over a year, depending on various factors.
• 💼 Networking and relationship building are crucial for success in real estate, with many agents meeting clients through volunteering and shared interests.
• 💡 For those looking to enter real estate, starting with brokerage is recommended as a low-risk way to invest time and build relationships.
• 💸 Wealth can come from unexpected places, with the video mentioning clients who became rich through manufacturing screws or successful investments in Bitcoin.
• 🏢 High-end properties often feature unique and luxurious amenities, such as original Picasso artworks and high-value fixtures, which can increase their value.
• 💼 The video emphasizes the importance of passion and perseverance in any field, not just real estate, for achieving financial success.

Q & A

How much did the real estate agent make in their first year?

The real estate agent made $7,300 in their first year.

What was the agent's sales volume in their first year in real estate?

The agent's sales volume in their first year was $230,000.

What was the agent's sales volume the year they decided to start their own company?

The agent's sales volume the year they started their own company was over $100 million.

What was the agent's sales team's performance in 2019?

The agent's sales team did $1 billion in sales in 2019.

How much did the agent's company sell in its first year?

The agent's company sold approximately $1.4 billion in its first year.

What is the agent's strategy for separating themselves from average realtors?

The agent is relentless in their pursuit of success, constantly pushing to surpass their competition, and focusing on long-term relationships.

How does the agent recommend building a network in real estate?

The agent recommends meeting people organically, volunteering, joining clubs related to personal interests, and being persistent despite facing rejection.

What is the agent's advice for someone looking to make a million dollars in real estate?

The agent advises not to immediately go into real estate investing, but instead to focus on brokerage as a no-risk investment of time to build relationships.

How long does it typically take to sell a high-end property according to the agent?

The time to sell a high-end property can vary from a week to a year, depending on various factors.

What was the cost of staging for the 45 million dollar apartment mentioned in the script?

The cost of staging for the 45 million dollar apartment was $60,000.

What are some unusual ways people have gotten wealthy that the agent has encountered?

The agent has encountered people who became wealthy through manufacturing screws, inventing diapers, and being successful on social media platforms like Tick Tock.