SERHANT. Achieves $4 Billion in Volume at Three Year Milestone

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Oct 05, 2023, 11:05 ET

— The Most-Followed Real Estate Brokerage Brand in the World Solidifies Leading Position By Growing Agents' Businesses, Landing Record-Breaking Listings, Tripling Agent Headcount —

NEW YORK, Oct. 5, 2023 /PRNewswire/ -- SERHANT., a modern real estate brokerage that sits at the intersection of media, entertainment, education and technology, celebrates its three-year anniversary with three major milestones: the firm has expanded to 7 states, licenses or employs over 500 people across 19 states, and is set to cross $5B in total sales this year. Their meteoric growth through extensive national expansion and record-breaking achievements solidifies its place as one of the fastest growing, and top-ranked, luxury residential brokerages. Founded in 2020 by top broker Ryan Serhant, SERHANT. has since amassed an international footprint and global media presence through its industry expertise, social media engagement, and renowned digital education program.

SERHANT. agents and staff at the 2023 Q3 Sales Huddle.

In just three years, SERHANT. has achieved more than $4B in real estate sales, has attracted top talent nationwide, and has cemented its presence in the most exclusive real estate markets. SERHANT. has earned prestigious rankings quickly, including securing the #6 spot on The Real Deal's list of Top Residential Brokerages for 2022, beating out multiple legacy brokerages in New York.

SERHANT. holds some of the world's most renowned, luxury listings and record-breaking sales including The Penthouse at Central Park Tower currently offered at $195 million, the sale of the second most expensive home in the country, a palatial estate in Palm Beach for $122.7 million, as well as the record-breaking sale of 36 East 68th Street for $57 million, setting a price per foot record for any townhouse in New York history, among others.

"We have created a brokerage that is tech-forward, media-led and agent-first," said Ryan Serhant, Founder, CEO and Broker, SERHANT. "It is core to our company's DNA to empower our agents by amplifying their brands and with a culture that educates, supports, and inspires them to question the status quo, be creative and innovate. Our integrated flywheel model has proven successful – we've reached new milestones this year by expanding into six new markets, and it's only the beginning of what's to come. Independent brokerages and agents who have resisted joining other major firms are finding alignment with our proven approach to accelerate their brand and their business."

National Expansion
Headquartered in SoHo at its "SERHANT. House," innovatively designed for supporting workflow, collaboration, creating content and entertaining, the brokerage accelerated its national expansion in 2023 with top-producing agents and independent brokerages flocking to SERHANT. The firm first expanded into the Hamptons market with the opening of SERHANT. House Hamptons in July 2022, followed by subsequent markets across Long Island. SERHANT. now operates in seven states: New York, New Jersey, Connecticut, Pennsylvania, North Carolina, South Carolina, and Florida, with additional markets slated for 2024. The expansion strategy was largely focused on operating across NYC feeder markets, popular second home markets and infiltrating the East Coast luxury markets.

Founding agent of SERHANT. Palm Beaches Christian Prakas has seen exponential growth due to SERHANT.'s unprecedented global social media reach and high-tech platforms. Prakas personally grew from averaging $2 million listings, to currently signing $40 to $50 million properties, along with securing large new development projects. Since joining the brokerage, the average sales volume per agent on his team went from $4 to $5 million annually, to now over $15 million a year.

Tech-Forward Innovations
SERHANT.'s developer teams have been at the forefront of technology and AI innovations within the real estate industry and have accomplished several recent homegrown achievements. This year, the firm introduced its own proprietary data feed, the SERHANT. Listings API – also known as SLAPI – which has increased its agility for new product launches and features directly enriched by a single unified data stream - a significant feat.

Though, the firm didn't stop there. By February 2023, the team introduced a game-changing and proprietary multi-modal AI platform for its agents to harness the power of listing data connected to AI tools, designed to simplify the daily workload for agents, SERHANT. GPT.

With SERHANT. GPT, agents have immediate access to tactical and practical AI tools, such as instantly creating bespoke listing content, editing and creating images for social posts, the ability to create tailored marketing plans catered to specific prospective buyer demographics, develop listing presentations, receive guidance from a proprietary chatbot named Patterson, and even utilize the platform to initiate likely scenarios to workshop their negotiation skills. SERHANT. GPT has become a widely adopted tech tool and an immediate agent favorite.

Behind the scenes, SERHANT.'s developer teams have also created an industry-leading agent CRM and marketing toolkit, which consolidates email marketing, social marketing, and optimized lead and deal tracking, all designed to simplify processes for agents and allow them to spend more time focusing on lead generation. In addition, the firm has also optimized its business intelligence through the creation of a new platform – appropriately dubbed "BILLIONS," – and have improved and created new functionality behind the firm's website, to be imminently launched – with new account login and MLS-wide search features, listing data, and much more.

Award Winning Content-to-Commerce
SERHANT. Studios, the firm's in-house film studio, manages social media and all digital content including photography, video, and podcasting, all of which work together to set the strategies to grow individual agent brands online.

The award-winning team also produces LISTED, an original cross-platform programming network, featuring lifestyle real estate shows highlighting up-and-coming agents, and More Ryan Serhant, which documents his journey as a CEO – both have received the 100K subscriber milestone plaques from YouTube.

The Studios team has increased its headcount by 300% in three years and has won two Shorty Awards. Further achievements include amassing more than 6.2M followers across all its platforms – a 150% increase from 2022, garnering 1.2 billion organic impressions on YouTube alone from the brokerage's launch to present.

"Our presence in the real estate industry has been marked by a commitment to challenging conventions and reshaping the way properties are marketed. At the heart of this transformation is our dedication to helping our agents craft and elevate their unique brands," stated Cody D'Ambrosio, Head of SERHANT. Studios. "Our vision goes beyond selling properties; it's about fostering a community of empowered agents."

Embracing the firm's content-to-commerce model, The Dearing Team who leads the North Carolina market, saw their average deal price more than double to $1.5 million in a matter of months since joining the firm. They also gained their first SERHANT. Signature listing at a record price for the area at $16 million, which was secured as a result of SERHANT.'s vast social reach. The team's sales volume and inventory have seen exponential growth.

SERHANT. is the most-followed real estate brand in the world, with over 6 million followers across all social channels. Its original video content and programming has received a combined total of more than 800 million views and generated countless referral opportunities, validating that SERHANT. is not only well received by the industry and clients, but relevant to consumers as well.

Since joining SERHANT., The Bogard Team in NYC went from carrying an average inventory of $15 million, to $115 million in inventory 19 months later. They have increased their average price point by approximately $4 million and now have four SERHANT. Signature listings. Doubling its social media following and increasing its YouTube following ten-fold, the team attributes its success to their focus on branding, and the amplification of their brand in social media and digital marketing.

Record-Breaking Listings and Sales
SERHANT. Signature, the firm's specialty division designed to serve high net worth clients and catering to marketing properties over $10 million USD represents some of the most prestigious listings across the East Coast. Some of the brokerage's most notable sales include multiple nine-figure deals, the record breaking sale of 535 North County Road in Palm Beach for $122.7M, the sale of 36 East 68th for $57M for over $6,000 per square foot (a Manhattan townhouse record), the $50M sale of the Penthouse at 151 Wooster, a $49M condominium at Central Park Tower, along with a waterfront mansion located at 2120 Bay Avenue on Miami Beach's Sunset Islands that sold for $34 million.

With the brokerage's expansion, its Signature listings extend with an offering of a modern Bridgehampton sanctuary for $125 million, as well as SERHANT.'s first Signature property in South Carolina, a luxe private island currently offered at $15M.

New Development Innovation and Growth
SERHANT. New Development is the company's dedicated division for the sales and marketing of new development projects. The firm's roster of luxury developments, collectively valued at an impressive $3 billion, includes a portfolio of renowned New York properties, including Brooklyn Point, Quay Tower, 75 First, and many more. The division has exceeded more than $100 million in pre-sales at The Huron, a distinguished residence offering river and Manhattan skyline views and a waterfront lifestyle in one of Brooklyn's trendiest neighborhoods, Greenpoint, as well as The Laney, an elegant collection of 57 well-appointed rental apartments, leasing more than one-third of its available inventory in weeks. This year, the division has also expanded outside of New York, and has recently added two distinguished Miami developments to its portfolio WYND Miami and Cove Miami.

Educating Agents Globally
SERHANT. Ventures, the sales training and revenue intelligence arm of the SERHANT. integrated model, managing the Sell It Like Serhant educational platform has also celebrated its fourth year in business. The programs now span more than 110 countries with over 17,000 members, which represents 20% year-over-year growth.

The Sell It Like Serhant training programs are designed to advance all sales careers through courses, coaching and community, upleveling entrepreneurial salespeople's success by enhancing their sales skills, growing their community, and mastering their personal branding. Their Sell It 2023 conference, held over the last weekend in September, was SOLD OUT with over 500 agents attending from over 30 countries.

Proven Brokerage Model
On average, agents at SERHANT. earn up to four times the national average^¹. The firm has continued its mission of making agents' lives easier through the simplification of processes, allowing agents to save their time, and in turn, generate more leads and sales. SERHANT.'s integrated flywheel model includes unique lines of businesses such as SERHANT. Studios and SERHANT. Ventures that are engineered to support agents' brands and business growth and modernize the real estate industry.

SERHANT. was built for the marketplace of tomorrow and designed to revolutionize real estate and amplify the success of others: agents, employees, developers, and clients.

About SERHANT.:
SERHANT. is a multidimensional real estate and media company designed for the marketplace of tomorrow. Founded in New York City in 2020 by Ryan Serhant, SERHANT. has quickly become one of the fastest-growing full-service brokerages operating in seven states. The SERHANT. real estate brokerage includes residential real estate and specialty divisions SERHANT. Signature, focused on high net-worth clientele and properties priced over $10 million USD, and SERHANT. New Development, focused on the sales and marketing of new construction projects. The award-winning SERHANT. Studios, its full-service film studio and production division, concepts and distributes all content to its social channels and to its streaming channel, LISTED, on YouTube. SERHANT. Ventures, the education and innovation arm of the company, manages the global Sell It Like Serhant digital educational system which innovates and invests in EdTech and teaches the next generation of real estate agents globally. SERHANT. was founded by leading real estate broker, best-selling author and producer, Ryan Serhant, with a commitment to amplify the success of others and a vision to change the way real estate is sold. Learn more at https://www.serhant.com.

^¹ National Association of Realtors Member Profile

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