Real Estate Broker and CEO Ryan Selhunt sits with Quartz on the luxury real estate market, reality television, and his new AI venture: S. We discussed Mple.
Selhunt appeared in Bravo (CMCSA+2.23%) will star on the TV series “Million Dollar Listing” from 2012 to 2021, and Netflix (NFLX-1.80%) series “Owned by Manhattan.” He recently made the biggest deal of his real estate career during a flight to Miami.
Check out Serhant’s conversation with Quartz below. This transcription of the conversation has been lightly edited for length and clarity.
Quartz: One interesting thing about the high-end real estate market is that there is no technically a strict definition of luxury real estate. When you’re looking at a property, which elements really make it gorgeous?
Cell Hunt: I think most people define luxury by cost. If you’re spending $10 million, most people will say, “Well, 10 million people – that’s a luxury.”
In order to consider high-end real estate, I look at quality and attention to detail. There are probably just expensive $10 million boxes for location and size. But they are not gorgeous. The incredible $1 million home with artisans using Venetian plaster may not be in the most luxurious place, but it is a luxurious home.
The first thing I see at home is, and I’m odd – the hardware in the room, like the kitchen or bathroom. Because when you build or design your home, it’s one of the last things you buy. It really becomes clear if someone is spending the right amount and won’t forget the details.
It makes me wonder when people don’t pay much attention to the details, “Okay, what else have you fooled?”
If you want to know if the location was built the right way, look at the doorknob if it’s a real luxury. I always go home. That’s always every time.
Quartz: What’s the biggest advice you give to anyone looking to enter the luxury real estate market after seeing shows like “Own Manhattan” and “A Million Dollar List”?
Cell Hunt: First: Get a license. You will then need to work as a team and become an apprentice for two or three years. I won’t make any money tomorrow. You really, really need to learn. It must be part of the plan. And if you can make it a stomach, I think it’s the best career you can have ever had.
Quartz: You are challenging the world of AI with S.mple by Serhunt. Can you explain what S.mple is doing and how you predict that AI will affect the luxury real estate industry?
SERHANT: S.MPLE is a workflow automation service that creates agent support using what is called artificial intelligent recipes. The time has passed since seven different systems were needed to perform administrative tasks.
Use S.mple to regain 80% of the day you use for your administrative tasks. Now you can actually spend your time out there, selling, trading and building relationships.
For consumers, it makes your relationship with your sales representative more valuable. Because you don’t wait anything anymore. All management tasks are now automated. It creates a much stronger relationship, especially when consumers are working with agents to buy something.
I think there is still a great need for salespeople until the house sells themselves to another home. And when you spend a lot of money, you want to talk to humans. However, S.mple removes much of the additional complexity. Your work is done for you. Our team calls it Instacart (cart-1.13%)For sale.
