Sell It Like Serhant by Ryan Serhant, Summary

Ryan Serhant, the author of Sell It Like Serhant is a high-end real estate agent in New York City. He’s also very visible in the media. I actually bought Sell It Like Serhant because I was notified twice that it was on sale. I get daily e-zines with books that are for free or heavily discounted. After I chose the books for Sales Knowledge Accelerator: Don’t Read More, Read Differently, I remembered that I had this book in my Kindle app.

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Introduction: Sell It Like Serhant

The book is an entertaining read. Although the mini case studies and examples are from real estate, there are many lessons that the average person can learn. You’ll discover the skills he used to attain professional success. However, there were several times when I wished Serhant would have delved a bit deeper into a topic. One thing I particularly liked about Sell It Like Serhant is its structure. There’s a summary at the end of each chapter. And you find actionable advice.

I recommend that when you’re previewing the book to also read the summaries at the end of every chapter. This is a short book. Throughout the book, Ryan Serhant lists secrets for a total of 21. They aren’t really secrets, but more like lessons learned in the trenches. I love that he mentions that Improv is a critical element in sales. Years ago, I took an Improv course at Second City. Improv teaches you how to think on your feet, which is a critical skill for everyone. Especially for people who are presenters.

Summary of Sell It Like Serhant

Don't live or die by one deal. Always have multiple deals going. When you have more balls in the air it means more opportunities. Go big. Sales is a volume business. Sell more of your products than anyone else. Relearn what it means to be a saleswoman. Take the initiative, being shy won't get you anywhere. Initiative is like a magic elixir. Make a call, send an email, follow up with leads, do something.

Knowledge and Skills

Have an in-depth knowledge about your industry. Skills add value to your character. Keep moving. Get the proper training so you can cross the finish line. The sales process is like a race. You don't know what kind of race it will be until the gun goes off. The process could be fast like a sprint or slow and steady like a marathon. Sales is about endurance, your ability to sustain a lot of balls contributes to your success. Decide how hard you want to work and how much money you want to make.

Six Rules to More Sales

1. Never focus on one deal. You do not live or die by one deal.
2. You never have to wonder what's next because you already have a deal in the works.
3. You're surrounded by opportunities, making contacts, getting referrals, generating new business, and always reaching for new balls.
4. It takes as much energy to manage one ball as it does to manage four or more.
5. You’re in control of the flight path. You know which balls to handle first, which ones you want to deal with quickly, and which ones need more time and attention.
6. Don't blindly toss balls in the air. Be strategic about it because you care about where each one lands.

Fear and Success

Fear is a powerful motivator, a source of fuel. Commit to doing one thing that motivates you from deep in your core. What's the one thing that will push you to work harder and do better? Think about this because it’s one of the keys to your success.

You need confidence to attain success. Ryan Serhant’s mantra is Ready, Set, Go. It’s a trigger phrase for him to get going. It helps him to stick with it. The reality is that some sales take longer to close. Sales can mean playing games where you don't get to set the rules.

Listening, Saying Yes, Taking on Tough Deals, and Rewards

Be a careful listener because clients are always sending messages about what they need and how they do business. Remember that a salesperson is in the service business. Saying yes equals selling more. Have a deep commitment to closing the deal. The goal is to turn the negatives into positives.

Take on some tough deals that others say ‘no' to. Anticipate objections and immediately turn them into positives. Improv is a great tool in sales and helps you to become a selling machine. The rules of improv is to say Yes, And to extend the conversation. Yes is a necessary word in a salesperson's vocabulary. Say yes to opportunities so you have balls to play with.

Improv requires listening. A sale is a narrative, a story. If you want to control the narrative, you have to listen to the client. Always ask, “what does this client mean to me?” Listen to your client before you talk. Digest what she says before you respond. Learn to ask questions. It’s an invaluable tool for a salesperson.

What's the reward you want? Double sales? Sell a new product? Push aside the fear and focus on the reward. Your confidence will build with each risk you take. To become good at anything, you have to practice your craft.

People You Encounter Daily

Don't judge the way a client looks. Additionally, every encounter you have throughout the day is a potential sale. Find a sincere way to connect to people. Make the other person feel comfortable. I loved the following.

“Never meet someone to benefit you today, meet people who can benefit your future.”

Don't expect instant gratification. Selling is a process that can take time. Where do you show up all the time? Church? Gym? Networking event? Think about your day. Where do you meet people who have a common interest. Make genuine connections and show how your product fits into their lifestyle. Ryan Serhant joined three gyms because he's into health and fitness. I think it’s a bit of an overkill, but it works for him. He has mastered the art of showing up.

It doesn't matter what you sell, spouting facts, and pointing out features won't endear customers to you. Use your knowledge and expertise to connect a customer with a product that is the best fit for them. Closing a deal is about tapping into emotions. After you've made a connection you can ease into talking about your product.

If you want to be a productive salesperson, give yourself a quota. Meet at least three people every day, and get their contact details. A salesperson's network of contacts is her currency.

 Things to Know to Work for a Deal

1. Relentless: You’re positive, ready and quick. And you're persistent, passionate and clients see it.
2. Empathy: Ego doesn't close deals, being empathetic does. Buying is emotional. Put yourself in the client’s shoes.
3. Patience: Be impatient for results, but patient with your client.
4. Listen: Learn to let customers talk first. Listen to understand before thoughtfully responding.
5. Bring value: Use your knowledge and experience about your product to help connect customers with what they want.
6. Respect: Have respect for your customers, your products and the process. Be honest and authentic in all your actions and interactions.

You cannot sell without making a deal. Emotions drive the sale. Give the client a WOW moment, because it makes it easier for her to make a decision.

Sales Success is Also About the Follow-ups

Master the follow ups. It’s the most important thing a salesperson can do to increase sales.

Three Stages to Great Follow Ups: Follow-up, Follow-Through, and Follow-Back

1. Good follow up takes practice, grace and diligence. Follow up on leads, but don't be a nuisance. When working with a buyer, keep the momentum going. If they cool off, it's hard to get them going again. Learn what frequency to follow up on a lead.

Hot clients: They’re ready to buy, have a set timeline, keep in touch every day.

Warm clients: Thinking about buying something, or just curious, keep in touch, once a week.

Cold clients: Not actively looking to buy, keep in touch once or twice a month.

Have follow up time blocked off in your calendar for warm and cold clients. Make it automatic. When you follow-up, don't send a generic email. Follow up with the value in the email. Follow your clients on social media. A friendly, follow up has a stronger impact.

2. Follow through: If you're hitting the wall with follow up, the follow through will allow you to set a new direction. Follow through when clients have questions and do what you say you're going to do.

A database of clients isn’t a mailing list, it’s a list of relationships. An old client is just as valuable as a new one.

3. Follow back: Don't wait to follow up, follow up now. Propose dates to meet with them that work for you. Send the newsletter. Recommend books to read. Follow back is different from follow up. Following back is keeping in touch with past clients or people who did not hire you. This is a big opportunity sales people miss out on.

Be in tune with your client’s emotion, so you know what to expect during every phase of the deal.

The Stages of Selling

Stages of selling include: Excitement, Frustration, Fear, Disappointment, Acceptance, Happiness, and Relief. I suspect this is true for big-ticket items. Be empathetic with the client. Say things like:

“I understand how hard these decisions are. This is hard, it gets easier from here.”

Or,

“We’ve all been there.”

Let your clients know that you’re going through the process with them.

“I’m with you until this is finished. If there’s a problem, we’ll work it together.”

The Indecisive Client: Push/Pull/Persist

Push: Gently prodding to move the deal forward. The push is gentle, yet firm. It could be what the client needs to get unstuck. You can offer incentives and/or create a sense of urgency.

Pull: Taking away an item from the client to get them moving. You must act with grace when you do this. Do a check on the client’s price point. You can also use this technique when you know the product is not the right one for the client. It’s a reality check for the client.

Persist: Reminding the client that this is the right product for her.

Sell It Like Serhant: 6 Common Reasons Why Deals Fail

1. Failure to communicate.
2. You’re replying, and not responding thoughtfully.
3. You’ve set unrealistic expectations.
4. You don’t know the market or your product.
5. Your approach is stale. You’re not keeping up with trends and new ways of doing things
6. You’re overly focused on the money. Focusing on the outcome and not the journey or process causes you to miss things.

Conclusion: Sell It Like Serhant

There are a lot of lessons in Sell It Like Serhant by Ryan Serhant that you can immediately apply. It's an entertaining read, and you'll be laughing while you're reading. The book is written in such a way that you'll feel like an insider in Serhant's world. If you're interested in the book, grab a copy and read it. However, be sure to scan the book first, and read the summary at the end of each chapter, before you dive deeply into the book.

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