Lessons learnt from “Million Dollar Listing New York”
Have you ever stumbled upon a TV show that unexpectedly changed the way you approach your work? For me, that show is‘Million Dollar Listing New York’ on Netflix.
I know, I know — reality TV isn’t exactly known for its life-changing lessons. But hear me out. Watching these high-stakes real estate deals play out has given me a fresh perspective on client-facing work and taught me valuable lessons from some of the best in the business.”
[1] Passion is key to success in any field
Passion is key to success in any field, and real estate is no exception. As a real estate agent, you have to believe in the value of your product and be able to convey that to your clients. That’s something that the agents on ‘Million Dollar Listing New York’ excel at. Watching Luis, Fredrik, and Ryan in action, it’s clear that they’re not just in it for the paycheck — they truly love what they do.
One thing that really stands out about these agents is their ability to negotiate tough deals while still keeping both buyers and sellers happy. In a world where everyone is out to get the best deal possible, it’s refreshing to see agents who prioritize fairness and satisfaction for all parties involved.
Another key takeaway from the show is the importance of knowledge. Being a successful agent means having a deep understanding of not just the properties you’re selling, but also the neighborhood, the market, and even the history of the area. By building a strong network and staying informed about all aspects of the real estate market, the agents on the show are able to provide their clients with a level of service that goes above and beyond.
[2] Accept the challenge and be creative (but don’t break the law)
Taking on a challenge can be daunting, but it’s also an opportunity to flex your creative muscles and push yourself to new heights. Of course, there are limits to what you can do — after all, breaking the law is never an option. But within those boundaries, there’s plenty of room for innovation and outside-the-box thinking.
For example, I see Fredrik hosting a boat party because the building is still under renovation and he wanted people to see the harbour view; I see Ryan naming a building creatively because the developers did not do so and the sales were bad; I see Luis inviting media and food bloggers to a listing event because he wanted to leverage them to approach wealthy buyers who appreciate the lifestyle of that district.
From their personal experience, they genuinely think that if they don’t succeed at first, it’s not because they are incapable — it just means they need to keep pushing and trying new things. With persistence and a willingness to take risks, anything is possible.
[3] Beside honesty, there is no other way to build trust
In the real estate industry, building relationships is absolutely crucial. While honesty is a given, it’s not enough to build the kind of trust that’s necessary for success. To truly connect with clients and colleagues, you need to go beyond simply telling the truth and focus on creating meaningful, long-lasting relationships.
For example, let’s say you’re a real estate agent trying to sell a luxury condo. While your knowledge of the property is important, it’s equally important to understand the needs and desires of your potential buyers. By taking the time to get to know them and build a relationship based on trust and respect, you’ll be better equipped to tailor your approach and make the sale.
Also, when it comes to selling a product with limitations, honesty is always the best policy. However, that doesn’t mean you have to be boring or uninspired in your approach. By finding creative ways to speak to your product’s strengths and acknowledging its weaknesses in a positive light, you can set yourself apart from the competition and win over even the most skeptical customers.
From the series, you can tell Luis, Fredrik, and Ryan have connections with tons of sellers, buyers, developers, stagers, event planners, news reporters, media, anyone who are part of the real estate universe. There is no way they can build such extensive network if trust does not exist.
[4] Being persistence but know when to stop
While it’s admirable to go above and beyond for your clients, there’s a fine line between dedication and obsession.
One example is Ryan got into trouble where the buyer canceled the deal because he was sent to jail. The seller is definitely mad and Ryan has to get this fix as soon as possible. He asked for all the contacts the seller has and his team made 20,000 phone calls to find a buyer. In the end they successfully sold it at the desired price. This is the value of grounded work.
So being humble is also essential to success in any industry. No matter how successful you are, it’s important to stay grounded and remember where you came from.
Please also note that while persistence and dedication are important, it’s equally important to know when to step back and accept that some things are simply out of your control.
[5] Take care of your physical and mental wellbeing
It’s easy to get caught up in the demands of work and forget to take care of our physical and mental wellbeing. The story of Luis has shown neglecting our health can have serious consequences.
His assistant tried to remind him to take care of himself such as remembering to eat and rest, but he often ignored these pleas. Luis’s mum also visited him and she said his home has no family photo, and with only one fork, one plate, one spoon. She also asked if Luis had friends. From these you can see Luis is a real workaholic.
In one episode Luis can’t breath during a client meeting and goes to the hospital. The doctor said he is nearly on the edge of having a heart attack and could have died. After his near brush with death, Luis hired a life coach and started practicing meditation as a way to manage his stress and anxiety. He also began making time for his personal life, including spending time with family and friends.
As the saying goes, health is wealth. Without our physical and mental wellbeing, everything else we strive for is meaningless. So if you’re feeling overwhelmed or stressed out, take a step back and prioritize your health.
The end —
If you’re in the real estate industry or interested in the art of negotiation, ‘Million Dollar Listing New York’ is a show you won’t want to miss!
Not only does it offer valuable insights into the world of high-end real estate, but it also provides a glimpse into the strategies and tactics used by some of the most successful salespersons in the business.
