Redefining Real Estate: Ryan Serhant’s Agent-First Philosophy
In an industry centuries old, truly novel business models are rare. While most residential real estate firms focus on selling properties, Ryan Serhant, founder of his eponymous brokerage, has inverted the equation. “We’re not selling property. We sell the people. The agent is our customer every day,” Serhant stated during a recent interview for the CNBC Property Play podcast at his SoHo headquarters. This philosophy, detailed in the original CNBC Property Play newsletter with Diana Olick, positions his company as an enabler for agents, empowering them to pursue diverse opportunities—including a rapidly growing slice of commercial real estate.
Shifting Gears: Capitalizing on Commercial Real Estate’s Pivot
Serhant notes that approximately 10% of his current business is commercial, a figure he expects to rise quickly. He points to a specific market dynamic: a wave of new investors from outside traditional commercial circles. “We’re seeing the money come from people that have never touched commercial real estate before,” he said, attributing this to price stabilization in markets like parts of Florida and the Carolinas. After three years of high interest rates, owners with adjustable mortgages are “starting to get realistic for the first time,” creating opportunities for savvy buyers.
This perspective is dramatized in his Netflix series, “Owning Manhattan,” which featured a storyline about an agent marketing a trophy Park Avenue South property as an event space. Even in the oft-beleaguered office sector, Serhant sees a strong recovery, contrasting the “dark buildings” of two years ago—fully leased but with absentee tenants—with today’s visible foot traffic, bustling subways, and active restaurants.
Tech as an Enabler, Not a Threat
Central to Serhant’s agent-support model is technology that frees up time for client relationships. His S.MPLE platform automates administrative, marketing, and transaction management tasks. This proactive embrace of AI contrasts with the recent stock declines of some commercial real estate firms spooked by technological disruption. “AI’s been a huge part of our process from the beginning,” Serhant affirmed. “If I can use technology to sell property to anyone, anywhere, on any device at any time, I will take that opportunity.”
The Power of Branded Residences
A key growth strategy involves branded luxury residences. In March 2024, Serhant and JDS Development Group sold 100 units in the 67-story Mercedes Benz Residences in Miami’s Brickell neighborhood in just four days. Serhant explains the potent psychological draw: “It tells the buyer that there’s certainty of the product. You have connected your brain with luxury when you think of Mercedes, since the 1940s.” He recounts international buyers sharing personal stories about the brand’s aspirational significance from childhood. Following that success, he launched sales for the first Roche Bobois branded residence in St. Petersburg, Florida
