Celebrity real estate agent Ryan Serhant joins TheStreet to share his advice to young homebuyers.
Category
🥇
SportsTranscript
00:00Talk to me about the the selling side if you will. Sure. There are many younger
00:05Americans who feel discouraged about the housing market. Of course. They feel like housing affordability is out of reach
00:12They can't do it. It's just so what's your advice on how to navigate
00:20through that I guess that disappointment and ultimately get to a place where a
00:26Person feels like they can buy a home. I
00:32Think most people can buy a home just not where they want to and
00:37Maybe not the home they thought they could get which is upsetting and I totally get it
00:42You know if even for me if I'm looking right now in the Upper East Side of Manhattan, like wait a minute
00:47Three-bedroom home on a fourth floor cost ten million dollars. Is that normal? Is that right? Is that the new normal?
00:55What am I gonna do personally to be able to fix that to bring prices down I'm not right
01:00There's a lot of but it's much much big movers at play, but I do understand that over the course of history
01:06Prices increase over the course of history fees
01:10Increase and over the course of history
01:12geographies change
01:14Five years ago. You might have been able to afford given your current pay that two-bedroom. You always wanted in Chelsea today
01:22That might have to be in Hoboken Hoboken is great. I love New Jersey. We opened up in New Jersey a year ago
01:28It's one of our strongest markets. It's incredible. I think there is a resetting of expectations
01:33It's not that you can't afford a home
01:34It's that you can't afford the home you wanted and thought you were gonna get that was promised to you
01:38And so one of our businesses is sell it calm sales training
01:42It's direct-to-consumer and it's also direct-to-business right sales training
01:47and one of the things we talk about with people all the time is is level-setting expectations and
01:52being really really
01:53truthful and authentic with people and not lying to them the way they've been lied to for years and years and years and years and
01:59Years, and I think when we change the narrative
02:03To more honest communication for the average person, which is everybody at the end of the day
02:09Then you start to have a more healthier conversation about where am I gonna live? Where am I gonna raise a family?
02:14Do I want to have a family?
02:15Do I want to have a job? Do I want to have five jobs six jobs ten jobs?
02:18What do I want to do?
02:19but I think the the lies that we tell people have to stop and I'm a big proponent of
02:25Transparency and honesty and you see that too in the the NAR commission ruling
02:30The National Association of Realtors and the big-box brokerages were sued in a class-action lawsuit and they lost
02:37Because they were defending a model
02:39from the past instead of building for the future and where we're going and
02:45What that has done is create more transparency. Um, it's fine