A buyer seems at listings on show exterior a Brown Harris Stevens workplaces in New York.
Brendan McDermid | Reuters
The rise of actuality TV reveals that includes actual property has been “horrible” for the business and the picture of its brokers, a prime brokerage CEO stated Thursday.
“This isn’t who we’re,” stated Bess Freedman, CEO of Brown Harris Stevens, on the The Actual Deal’s NYC Showcase + Discussion board on Thursday. “We wish to be sure that we preserve the integrity of our enterprise.”
Freedman took purpose at reveals like Netflix’s “Promoting Sundown” and Bravo’s “Million Greenback Itemizing,” which spotlight private dramas and battles behind high-end actual property offers. A number of of the reveals’ stars have translated their newfound fame into business success, utilizing social media to amplify their following and attain with shoppers.
“All of these items, like ‘Promoting Sundown,’ is horrible,” Freedman stated. “It makes it appear like … these women present up in gala robes to open homes. We wish to preserve the standard of what we do.”
Ryan Serhant, one of many stars of “Million Greenback Itemizing New York” and the founding father of Serhant brokerage, shot again at Freedman on stage, saying conventional actual property brokers have to embrace the way forward for know-how and media.
“The previous approach of promoting actual property has fully modified,” he stated.
Serhant stated 25 million viewers world wide watched Bravo’s “Million Greenback Itemizing New York” in its first season in 2012.
Ryan Serhant visits Construct Brunch to debate “Promote It Like Serhant: How one can Promote Extra, Earn Extra, and Turn out to be the Final Gross sales Machine” at Construct Studio on Sept. 20, 2018, in New York Metropolis.
Roy Rochlin | Getty Pictures
Whereas lots of these early viewers have been youthful and could not afford the multimillion-dollar flats on the present, “consumers are influenced by the children,” Serhant stated.
Serhant launched his personal company in 2020, coaching brokers to supply movies, increase their social media followers and develop their private manufacturers. Final yr, the agency noticed over $2 billion in gross sales and 35% progress in its variety of brokers.
“I need our brokers to have the ability to do offers in all places, to anybody, on any platform,” he stated.
However Freedman stated expertise with negotiating offers, relationships developed over time and deep data about neighborhoods and buildings stay the cornerstones of promoting actual property.
“We promote actual property, not know-how,” Freedman stated. “We work laborious.”
Disclosure: CNBC mother or father NBCUniversal owns Bravo.
