It's acceptable to marry the house and date the rate, and here are six more real estate tips from Ryan Serhant.

Ryan Serhant is well-known in both the real estate industry and reality television.

Serhant, a 40-year-old real estate agent, rose to fame on Bravo shows "Million Dollar Listing" and "Sell It Like Serhant" and is now the star of the Netflix show "Owning Manhattan." He began his career in real estate in 2008 and worked for the New York firm Nest Seekers International for several years before launching his own brokerage, SERHANT., in 2020.

Serhant has achieved significant success in his career, closing over $10 billion in sales and authoring several books, including "Brand It Like Serhant," as stated on his website.

Serhant, who entered the real estate industry and became a reality star, has imparted various pieces of advice, such as his strategy as an agent and the benefits of owning real estate as a means to accumulate wealth across generations.

On breaking into the real estate industry as an agent

In a 2018 interview with CNBC Make It, Serhant advised aspiring real estate agents to seek advice from industry experts.

"Success requires hard work, he says. Repeat the process of listening, learning, and rinsing until you achieve your goals."

Serhant advised others not to follow his example of selling and renting real estate independently instead of working on a team.

"He advises against starting alone, stating that it can be isolating."

In a 2018 interview with CNBC Make It, Serhant emphasized the significance of maintaining loyalty to clients and treating them as if they were childhood friends.

He states that great salespeople treat everyone with the same level of respect, as if they were close friends.

When leading a team, Serhant advises setting an example.

He emphasizes the importance of showing dedication and hard work, whether one is a new agent or a veteran, by stating that he never takes anything for granted and is always the hardest worker in the room.

On the state of the real estate market for buyers right now

In a 2024 interview with Realtor.com, Serhant stated that although interest rates are high, it is still a good time to purchase.

"Although rates are high, they could be even higher because they were previously higher. It's acceptable to marry the house and date the rate. Your monthly payment may fluctuate, but you're not renegotiating the sale price of the house or the location. If you find a house you truly love, determine how to make it work and you will live happily in it."

On the state of the market for sellers right now

Although sellers may be hesitant to sell a property because it could mean buying another one at a higher interest rate, Serhant still recommends selling.

"Now is the best time to act, as we have a presidential election approaching in the US and the market is uncertain about the future, but I can confirm that it's active right now, with inventory being extremely low," he remarks.

If minute rates decrease, will more buyers enter the market? Yes, but so will more sellers. This will increase competition, making it a great time to sell.

On real estate and generational wealth

Real estate ownership is a proven way to accumulate wealth in the US. With ownership of your deed, if you can afford the monthly payments, it's a reliable method to establish a strong investment portfolio, according to Serhant in 2024.

In a podcast interview with Joe De Sena in 2023, Serhant emphasized the challenges of owning real estate.

"Real estate can be a lucrative investment, but it can also lead to significant financial losses. As Serhant points out, owning property requires intelligence and smart decision-making to maximize profits and minimize risks."

If Serhant could, he would purchase an investment property annually, as stated in the interview.

"Real estate is a great long-term investment, but it's risky to expect profits in the short term," he advises. "If you plan to buy and sell quickly, you'll need a lot of courage and a backup plan."

On the importance of working with an agent

Serhant stated in the 2023 interview with De Sena that he believes in the importance of working with someone experienced because failing to do so could result in negative consequences.

"To avoid making a mistake when buying real estate for the first time, it's recommended to work with someone who has experience, speak to someone who has, and use a real estate broker. It's important to question everything, take your time, and wait until you feel confident before making a decision."

On thinking about your home as a brand

Serhant advised in a 2024 interview with Today that selling a home requires branding it and using descriptive language to make it stand out.

"Overpricing your home is now underpricing. You generate that demand. You're in the market, not just on top of it," he remarks.

On the importance of having cash on hand when it comes time to buy

In the same interview, Serhant recommended saving enough money to make a significant impact when purchasing a home.

"Bringing more to the table can lower your monthly payment," he says.

Disclosure: CNBC parent company NBCUniversal owns Bravo.

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