Office Hours: How Theater Helped SERHANT Founder Ryan Serhant Build a Real Estate Empire

Spencer Rascoff

Spencer Rascoff serves as executive chairman of dot.LA. He is an entrepreneur and company leader who co-founded Zillow, Hotwire, dot.LA, Pacaso and Supernova, and who served as Zillow's CEO for a decade. During Spencer's time as CEO, Zillow won dozens of "best places to work" awards as it grew to over 4,500 employees, $3 billion in revenue, and $10 billion in market capitalization. Prior to Zillow, Spencer co-founded and was VP Corporate Development of Hotwire, which was sold to Expedia for $685 million in 2003. Through his startup studio and venture capital firm, 75 & Sunny, Spencer is an active angel investor in over 100 companies and is incubating several more.

SERHANT Founder Ryan Serhant
Photo courtesy of SERHANT

Sign up for dot.LA’s daily newsletter for the latest news on Southern California’s tech, startup and venture capital scene.

Real estate mogul Ryan Serhant joined this episode of Office Hours to talk about how his background in theater prepared him for the world of real estate.

As the founder of SERHANT., his eponymous brokerage firm, Serhant has become one of the most well-known real estate brokers in the world. He and his team have closed over $4 billion in sales across New York, Los Angeles and Miami. The firm has also expanded into other industries.


Serhant developed a passion for theater in Texas, where he was born and raised. After graduating college, he moved to New York to pursue his dream, thinking to himself, as he put it, “‘I'm going to see if I can make this Broadway dream and movies and television actually work.”

"Turns out it's really, really hard to do. There's a significant amount of rejection," he added.

The money he had saved lasted him just nine months. New York was expensive and he had no job. Refusing to go back to school or become a bartender, he turned to a friend who had a background in real estate.

Serhant's friend told him the job was no different than theater – like an improv game all day, as long as you adapt to clients and meet new people.

"I didn't take a day off for the first three years and just said, ‘I'm going to figure out how to build a network and actually do this in the city, or I have to move’. And that's a wall to be backed up against," said Serhant.

After years of dedication, Serhant opened his own firm and built a sales team of 65 agents.

As he was considering where to take his firm next, he realized there was a market for in-house film production, a skill he’d developed organically through social media, where he’d developed a strong following.

"Every other firm just kind of laughed it off. It's like, ‘you know what, when I'm ready, I think that's what I'm going to do, you know: bring real estate to the intersection of media technology’," said Serhant.

Serhant also decided to make educational content for his sales staff in order to help them earn their real estate agent licenses and sell homes.

“And sales is pretty ubiquitous,” he said. “If you learn how to sell or how to train your salespeople to sell real estate, you can train salespeople in any industry.”

Serhant said that the brand he's created will always come down to the people as the firm has grown.

‘"No matter what technology is invented, he added, “until you [Spencer Rascoff] or Bezos or Musk invents a way for a house to sell itself to another house, there will always be the need for a mediator between a buyer and a seller, a tenant or landlord."

Want to hear more episodes? Subscribe to Office Hours on Stitcher, Apple Podcasts, Spotify, iHeart Radio or wherever you get your podcasts.

dot.LA Engagement Fellow Joshua Letona contributed to this post.

https://twitter.com/spencerrascoff
https://www.linkedin.com/in/spencerrascoff/
admin@dot.la

Subscribe to our newsletter to catch every headline.

Cadence

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

Read moreShow less

Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

Read moreShow less

PCH Driven: Director Jason Wise Talks Wine, Documentaries, and His New Indie Streaming Service SOMMTV

Jamie Williams
­Jamie Williams is the host of the “PCH Driven” podcast, a show about Southern California entrepreneurs, innovators and its driven leaders on their road to success. The series celebrates and reveals the wonders of the human spirit and explores the motivations behind what drives us.
Jason Wise holding wine glass
Image courtesy of Jason Wise

Jason Wise may still consider himself a little kid, but the 33-year-old filmmaker is building an IMDB page that rivals colleagues twice his age.

As the director behind SOMM, SOMM2, SOMM3, and the upcoming SOMM4, Wise has made a career producing award-winning documentary films that peer deep into the wine industry in Southern California and around the world.

On this episode of the PCH Driven podcast, he talks about life growing up in Cleveland as a horrible student, filmmaking, Los Angeles and his latest entrepreneurial endeavor: A streaming service called SOMMTV that features–what else?–documentaries about wine.

The conversation covers some serious ground, but the themes of wine and film work to anchor the discussion, and Wise dispenses bits of sage filmmaking advice.

“With a documentary you can just start filming right now,” he says. “That’s how SOMM came about. I got tossed into that world during the frustration of trying to make a different film, and I just started filming it, because no one could stop me because I was paying for it myself. That’s the thing with docs,” or “The good thing about SOMM is that you can explain it in one sentence: ‘The hardest test in the world is about wine, and you’ve never heard about it.’”

…Or at least maybe you hadn’t before he made his first film. Now with three SOMM documentaries under his belt, Wise is nearing completion of “SOMM4: Cup of Salvation,” which examines the history of wine’s relationship with religion. Wise says it’s “a wild film,” that spans multiple countries, the Vatican and even an active warzone. As he puts it, the idea is to show that “wine is about every subject,” rather than “every subject is about wine.”

For Wise, the transition to launching his own streaming service came out of his frustration with existing platforms holding too much power over the value of the content he produces.

“Do we want Netflix to tell us what our projects are worth or do we want the audience to do that?” he asks.

But unlike giants in the space, SOMMTV has adopted a gradual approach of just adding small bits of content as they develop. Without the need to license 500 or 1,000 hours of programming, Wise has been able to basically bootstrap SOMMTV and provide short form content and other more experimental offerings that typically get passed over by the Hulus and Disneys of the world.

So far, he says, the experiment is working, and now Wise is looking to raise some serious capital to keep up with the voracious appetites of his subscribers.

“Send those VCs my way,” Wise jokes.

Subscribe to PCH Driven on Apple, Stitcher, Spotify, iHeart, Google or wherever you get your podcasts.

dot.LA reporter David Shultz contributed to this report.

RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending