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Real Estate Expert Ryan Serhant Warns of Self-Destructive Mistakes Home Buyers Make to Save a Dollar

Isaac Newton said: “What goes up must come down.”

According to famous 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.

“Housing is defined by three things, and three things only: supply, demand and interest rates. So when interest rates rise quickly, everyone is going to call for an end to the housing market. And when you see a rapid decline in the housing market, interest rates, everyone is going to call it a boom. Markets go up and markets go down,” he explained.

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“I’m biased, but the No. 1 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.

Real Estate Expert Ryan Serhant Warns of Self-Destructive Mistakes Home Buyers Make to Save a Dollar

Ryan Serhant on the blue carpet for the premiere of his new Netflix show, “Owning Manhattan.” (Antoine Debrill / Fox News)

“You wouldn’t do the surgery yourself. You wouldn’t represent yourself in court, would you? So call a professional. They are there for a reason,” insisted the real estate expert. “It’s all about price at the end of the day, so bring in someone who wakes up and breathes real estate. Don’t try to save a dollar, because you will always blame yourself. »

“People need a place to live. And we’re here to help them find it,” he added.

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The cast of “Ours Manhattan”

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” for interested homebuyers amid current market uncertainty.

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“I think (it’s) an ambitious show. It’s not just about 0.01% houses. It shows them, but it shows everything. We show real estate across price points, and we show the ups and downs of entrepreneurship,” he explained.

“The cast of agents that work with me on the show…(it) follows about 12. Half of them are veterans. They are in the business and they are trying to keep their place. The other half are newcomers,” he continued. “If you want to sell real estate in your city, you’re signing up for no pay, no benefits, and you’re getting into a business where over 85% of the people who start it drop out in the first year. There’s a turnover because it’s incredibly, incredibly difficult. So you’ll be able to look at this in a way that you don’t see on “Selling Sunset” or on the shopping shows, or even “Million Dollar Listing,” which I think is exciting for people. You will be able to identify more with this one. »

“I think the American dream of homeownership hasn’t changed; I think the dreams have changed.”

– Ryan Serhant, founder of SERHANT.

Despite average mortgage interest rates hovering around 7 percent, in a landscape where New York City homes cost about $785,000 on average, Serhant told Fox News Digital he believes the American dream of homeownership hasn’t changed.

On the contrary, he explained, it has only “intensified.”

“I think the American dream of homeownership hasn’t changed; I think that dreams 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. They’re now dreaming, you know what? Maybe I’ll rent, because I want to have a second home in New York.”

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As for whether Serhant fans will ever get to see “Rental “Manhattan,” Fox News Digital was told, “maybe on YouTube.”

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Gn entert
News Source : www.foxbusiness.com

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