About five and a half years ago, celebrity real estate agent Ryan Serhant launched his eponymous real estate agency in Manhattan in the middle of a global pandemic. Since then, SERHANT. has come a long way – and just a few weeks ago the company entered its 15th state with the launch in Boston, Massachusetts.
In addition to its growing market presence, the luxury real estate industry has expanded in other ways, including through tech tools such as the agent workflow platform S.MPLE, through media attention through the Netflix series Owning Manhattanand through key contributors such as former Keller Williams president Josh Team.
But SERHANT. is far from done growing, and CEO Ryan Serhant told Inman that the brokerage still had many exciting steps in store in 2026.
Serhant will also speak on Inman Connect New York next week. Before his performance, he took time to catch up with Inman. Here’s what he had to say, edited for length and clarity.
Inman: I saw SERHANT. hired a fintech vet, Greg Chanas your new CTO recently moved to Boston. What other exciting goals do you have as a company in 2026?
Ryan Serhant | SERHANT. Studios
Serhant: The company is expanding very quickly. We will open many new markets this year as we continue to grow our market share in the markets we are in. Our model is quite different from any of our competitors, so we’re really not for everyone. But I guess the proof is in the pudding now, so to speak. So we will have many more markets that we open this year.
We will be opening new verticals within the company which we will talk about once we get there. Fun, exciting new employees too. It’s been busy. It’s been a big start to the year. Massachusetts is a great state. I grew up there too – I’m not saying the Patriots are going back to the Super Bowl because we open there, but I’m also not saying that’s not why they won their game – but it’s really exciting.
SERHANT., in every market in which we are active, has become something of a go-to. For example, you are at Compass or with us. Everything else, as far as we can see, has disappeared into the distance. I think the industry is moving from brokerage as a place to work to brokerage as a product that you can use and enhance your current business. And I think we’re building more operating systems now than just brokers.
And SERHANT. is clearly a media company, a technology company and a services company all in one, as we work to create the best agent experience in the world.
We are curious about more information about these new employees and industries. As you just mentioned Compass, I’m curious, now that the merger between Compass and Anywhere was completed earlier this year, what are your thoughts on that? Did anything about that deal surprise you?
I don’t think so. Anywhere was a holding company founded by a financial team to make money in the public markets. It was Cendant and it was Realogy, and then of course it became Anywhere. They had to refinance $500 million in debt last year, of which they paid 10 percent.
It was just an unsustainable model, so I think ultimately an acquisition was probably the only option for Anywhere going forward. That is why you are currently seeing so many mergers and acquisitions in this area. Mass consolidation is happening, not necessarily because every company wants it, but because some companies clearly need it.
I think Compass is making a platform game. They compete with Zillow, which is a very different business model than what we have here. I think they’re building an operating system for products, for inventory. I think we are successfully building an operating system for people. And when you empower the people, you empower the properties. And I think they’re also now $3.1 billion in debt.
So it’s different. But holistically, I love it. I think it’s really great to have a major player in the space that is pro-agents and can lobby with some weight against some things in the industry that no single player has ever pushed back on. I don’t think there’s ever been a $10 billion market cap real estate brokerage in history, so it’s a great comp. I think their stock is going to double. And I find it super exciting as a real estate agent owner. So all power to them.
Great. So as SERHANT. is growing, are you thinking about making major acquisitions yourself?
We acquire new employees and have new employees as we enter new markets. There are so many great brokers and great agents across the country working in boutique spaces: they’re either boutiques and they have a franchise flag with a timeline on it, or they have a great boutique brand that’s hyper-local. And one of the things SERHANT. What we offer as we enter national markets is that we partner with hyper-local brands and agents to give them a unique, AI-native infrastructure on the back end that changes the way they work, combined with global media influence.
The case studies we have of what the SERHANT. effect is from Paradise Valley, Arizona; to Henderson, Nevada; to Delray Beach, Florida; is pretty incredible. And I’m just excited to bring that reach that we have, that no other brokerage could ever afford, to great brokers across the country and for the benefit of their clients.
What do you think 2026 will look like for brokers as you move into the broader market?
I am obviously very focused on rates. I think real estate is a conversation about rates, not a direct conversation about inventory, supply or quality. Everything is determined by rates. So with interest rates falling, I’d like to see 5 million transactions this year instead of the 4.1 million we’ve had roughly over the last three years. I think we have reached the breaking point of the lock-in effect we have seen since 2022 at higher rates.
And I’m really paying attention – I haven’t really seen anyone write about this yet – but the Trump Gold and Trump Platinum cards. If you look at the Trump Platinum Card for foreigners, it’s a ticket price of $5 million. You get a place to live, you get to work here, you get to be here 270 days a year, and the country isn’t going to come after you for non-US income, which is always the big problem.
But foreigners investing in real estate here and staying here for extended stays, and the visa process, etc., if that goes through and you can open up the country to people and companies who can write $5 million checks, what that will do to get luxury real estate… if you think prices are high now, we’re already getting calls from clients looking to capture land grabs in Miami, Palm Beach, Wyoming, Montana, New York City, of course, because the wealth on the sidelines in the United States is nothing compared to the global shadow money that will enter this country, for better or for worse. And I think it’s very likely that this will really drive the luxury markets in 2026.
Yep, rings true. I had heard things about the Trump Gold Card several months ago, but not much about it lately.
Well, I think it’s currently blocked – I guess that’s the small problem. But if that continues, just wait. And what he’s trying to do, within reason, is that instead of the US paying everyone else money, everyone else should pay our money. You want access, you want to buy property here, you want to set up a business? Great. Pay us. There are entrance fees, there is a ticket price, and it’s not far-fetched. And the homes sold to people who can afford them create jobs. There is a trickle-down effect.
I also wanted to ask you about Inman Connect New York next week, since the event is quickly approaching. Do you have any tips for new attendees or even experienced attendees on how to get the most out of the event?
Dress warmly. This is the winteriest winter we’ve had in ten years. It may be cold, it may snow. But take advantage of the city.
SERHANT. and Sell It are having an event on the evening of February 3. There are many great opportunities to create collaborations. Go to Broadway, go to restaurants, get around town. It’s an incredible, incredible environment right now. It is completely open. It is the year to create business and create markets. So make sure you meet as many people as possible while you’re here. That’s why it’s called ‘Inman Connect’, right? It’s not ‘Inman, sit down alone.’
Well put. Is there anything special you’re looking forward to?
Again, I love meeting new people. I enjoy meeting new people coming into the market and the city, especially as we grow. Everyone comes here, so it’s great. It’s like football, it’s like a home game for us next week. It’s fun to play at national level with home advantage. So I’m looking forward to many great connections that will bring new ideas, new deal flows and new ways to make the industry better every year.
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Email Lillian Dickerson
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