Did you know that Ryan Serhant has a process for meeting people, every day? It’s something that you can pick up and bring into your business right away. All it costs is 10-15 minutes of your morning routine. So, what is it? It’s called the 3/5 Rule. And you should be doing it.
Who is Ryan Serhant?
If you’ve never heard the name let me give you a quick breakdown. Ryan Serhant is, born in Houston, Texas is one of the most successful and highest-grossing real estate agents ever, selling over 1.45 Billion Dollars of Real Estate in 2019 alone. And now he’s opened his own brokerage SERHANT. Arguably the most-followed real estate brand in the world, he’s also the author of a New York Times bestseller “Sell it Like Serhant: How to sell more, earn more, and become the ultimate sales machine.” Known for his outgoing personality and endless energy, he’s currently starring in “Million Dollar Listing New York.” to boot.
He discovered his knack for business at a very young age, but would not get into the real estate business until much later in the year 2008. The year of the subprime mortgage crash and the great financial crisis.
So, why should you follow him?
Ryan Serhant has been in the real estate business since 2008 and has been involved in countless transactions over the years. Regardless of the fact that 2008 was tough for real estate, he went on to make $9000 that year. Nine years later, he was grossing $1 billion dollars in sales.
His work ethic is well known. And he’s always creating innovative ways to not only compete in the industry himself but educate others on how they can do the same. He stresses the importance of making friends over selling products, even propagating a relationship building technique he calls the 3/5 rule.
Where can you follow him?
Ryan Serhant is an influencer in the Real Estate (and entertainment) industry. Naturally, his preferred platform is Instagram. But you can also follow his brand and brokerage on basically any Social Platform. LinkedIn, Facebook, and YouTube are some of his best platforms to find content on. However, if we were going to pick one, we suggest his YouTube channel.
As part of the community he is building, Ryan invests heavily in video and video production. You’ll find anything from tutorials and advice to big ideas, and where his focus is on any given week. With over 1 Million Subscribers, it’s fair to say that it’s a community of its own! Check out his YouTube Channel here.
What he does every day that you should do too
Ryan Serhant advocates for building relationships with everyone you meet. Not focusing on the transaction. He believes that the relationships you build, are sustainable and continual sources of opportunity for both parties. He believes anyone you meet will be a potential client or provide you with the chance for another potential client. So, he practices what he calls the 3/5 rule every, single day.
The 3/5 Rule or the 5/5/5 Rule
The 3/5 rule, sometimes referred to as the 5/5/5 rule, goes as follows; you reach out to 15 people every single day that you wouldn’t otherwise speak to. Sounds simple right, just 15 reach outs?
Now, to ensure that your process isn’t getting stale, you divide your reach outs across 3 different platforms or methods. 3 Methods, 5 Messages. Phone, text, email, Instagram, Facebook, or LinkedIn. It’s up to you.
Whatever mediums you find the most accessible, go with the top 3. Feel free to switch it over throughout the week as the goal is to make it easy, fresh, and fast. You’re not aiming to do something that is going to take too long to get a response. You’re wanting to have conversations. If you find that you’re sending out your daily 5 emails but getting nothing back, switch it up. Change to LinkedIn, Phone, or Text. Vary it, as you would your Hashtags throughout a week’s Instagram posts. Emphasize building Social Wealth in your business.
5 Messages: Calls, Conversations, DMs
Rather than solely going for the ask in all of your reach outs, instead, check up on them and be genuinely interested in their wellbeing. “Hey, I wanted to check in and see that you’re doing okay?” “Is there anything that I can help you with right now?” “Hey NAME, I saw this and thought of you *Insert Link To Item of Value*”. Focus on providing value and starting conversations.
How does this help you? People can smell sales tactics from a mile away. No one wants to be sold. So, if you’re focusing on the relationship, building that first, and conversing about your family, their family, your business, their work, opportunity can naturally present itself. Don’t just be a Realtor – become the Go-To person that will help them and everyone they know with ANYTHING that you can provide, including your specialty in Real Estate.
It comes down to whether you’re chasing a transaction, or building a business and brand.
Who should you do this with?
You can do this with pretty much anybody. From people in your database to the stranger you were chatting to about the weather. The goal is to reach out to 15 people every day and engage them in a conversation. It’s not a gimmick. It’s really that simple. Built on sound principles. The more conversations that you have, the more opportunities you’ll have to serve others. Through this people will get to know you, like you, trust you. And of course, learn about how you can help them and the people they know.
Become the go-to local leader of your area.
Give the people you encounter a chance and talk to them. You never know what someone’s needs in real estate are, or who they know until you get to know them. It’s a great strategy to check up on your past clients from time to time or the contacts in your database that you need to digitally “dust-off”.
Think about who you want to build relationships with. Where should you be focusing your attention?
Target local businesses. This is particularly important if it’s within the area you’ve chosen to farm. Talking with local business owners is notably less stressful to do as they’re in the service industry, like you! They are usually more open to having a discussion about what each of you does, too! Present yourself as the friendly neighborhood realtor you want to be and see what these conversations bring.
The 30 Local Professionals Every Realtor Should Know
Looking to expand your sphere and connect with local business leaders in your area? We’ve created a list of the 30 local professionals that will regularly refer you business. Download your free guide here.