Real Estate Expert Ryan Serhant Warns of Self-Destructive Mistakes Home Buyers Make to Save a Dollar
Celebrity real estate agent Ryan Serhant has revealed the craziest requests he’s received from his “rich and famous” clients, including finding homes where they can live with their pet kangaroos and pythons.
Isaac Newton said: “What goes up must come down.”
According to real estate icon Ryan Serhant, Newton’s law of gravity applies just as well to the real estate market.
Serhant, who leads Netflix’s new New York-based real estate show “Owning Manhattan,” addressed the current market woes in an interview with Fox News Digital — explaining the ebbs and flows of the challenging real estate landscape and revealing the one thing people looking to buy real estate hurts.
“The housing market is defined by three things and three things only: supply, demand and interest rates. So when interest rates are rising rapidly, everyone says the housing market is over. And when interest rates are falling rapidly, everyone says it’s boom time. Markets go up, markets go down,” he explained.
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“I’m biased, but the number one mistake most clients make is not using an experienced real estate agent,” Serhant revealed during the blue carpet event for his new show, streaming now.
Ryan Serhant on the blue carpet for the premiere of his new Netflix show, “Owning Manhattan.” (Antoine Debrill/Fox News)
“You wouldn’t do it yourself. You wouldn’t represent yourself in court, right? So get a professional. They’re there for a reason,” the real estate expert insisted. “At the end of the day, it’s all about that price, so get someone who wakes up and breathes real estate. Don’t try to save a dollar, because you’ll cut your nose off every time.”
“People need a place to live. And we’re here to help them find it,” he added.
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Real estate legend Ryan Serhant pictured alongside the cast of his new Netflix show, “Owning Manhattan.” (Jason Malihan/Fox News)
Serhant spoke to Fox News Digital about why he thinks “Owning Manhattan” is particularly “relevant” to interested homebuyers amid today’s market uncertainty.
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“I think it’s an ambitious show. It’s not just about 0.01% homes. It shows those homes, but it shows everything. We show real estate at different price points and we show the ups and downs of entrepreneurship,” he explained.
“The cast of agents that work with me on the show… (he) follows about 12 of them. Half of them are veterans. They’re in the business and they’re trying to hold their ground. The other half are newcomers,” he continued. “If you’re going to sell real estate to your town, you’re going into a business where over 85 percent of the people who go into it quit in the first year. There’s a turnover because it’s incredibly, incredibly hard. So you’ll be able to watch it in a way that you don’t see on ‘Selling Sunset’ or buying shows, or even ‘Million Dollar Listing,’ which I think is exciting for people. You’ll be able to relate to this one more.”
Ryan Serhant, founder of Serhant, broker and star of “Million Dollar Listing,” talks about the state of housing, booming local markets and the importance of branding for “better deals.”
“I think the American dream of homeownership hasn’t changed; I think the dreams have changed.”
Despite average mortgage interest rates hovering around 7 percent, in a landscape where New York City homes average around $785,000, Serhant told Fox News Digital he believes the American dream of homeownership hasn’t changed.
On the contrary, he explained, it only “got bigger.”
“I think the American dream of home ownership hasn’t changed; I think that dreams “Things have changed. I think people have different kinds of dreams now. They have multiple dreams. They’re not just thinking about their primary residence with a fence for their kids anymore. They’re now dreaming of renting a house, because I want to have a second home in New York.”
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As for whether Serhant fans will ever be able to see “Rental Manhattan,” Fox News Digital was told, “maybe on YouTube.”
Celebrity real estate agent Ryan Serhant, who previously starred on Bravo’s “Million Dollar Listing New York,” has shared details about his new reality show “Owning Manhattan.”
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