00:49:40 · Ryan Serhant, John Coogan, Jordi Hays
[00:49:40] S3: In the individual in the individual markets, the studio's team is, for the most part, they are are either licensed or trained to do everything that they need to do. Okay. So they can operate drones. Yep. And I wouldn't say they're so much cinematographers as they've gone through our boot camp and Yeah. They know how to shoot They know how to, you know, produce hooks. They know how to work with the dialogue. They know how to do different types of Zoom tours. And the types of content that we put up on LinkedIn are not the same types that we put on TikTok, YouTube, etcetera. And so we were able to turn kind of that that social machine [00:50:10] S1: Yeah. [00:50:10] S3: Into a lead machine for salespeople Yep. And people who need salespeople. We combine those two together. They create more content around deal flow and round around and rounds we [00:50:21] S2: go. Yep. [00:50:21] S3: And then this and LinkedIn and the news and Squawk Box down there is all general thought leadership. [00:50:27] S2: Does the MLS need to ban AI content from listings? [00:50:30] S3: I was talking to Ben Coleman this morning, actually, from a company called Reality Defender. He presented [00:50:35] S2: Yeah. [00:50:35] S3: Just before me at, Pick, the Goldman Private Innovative Company Conference in Vegas last year, and he he asked me if I wanted to talk to him about the reality badge that he could create Sure. That would automatically detect if a listing photo of a living room or bedroom, etcetera, was being created using ad.
00:50:35 · Ryan Serhant, Jordi Hays
[00:50:35] S3: Just before me at, Pick, the Goldman Private Innovative Company Conference in Vegas last year, and he he asked me if I wanted to talk to him about the reality badge that he could create Sure. That would automatically detect if a listing photo of a living room or bedroom, etcetera, was being created using ad. [00:50:53] S2: I don't even want... I... Like, cool cool idea. I don't want that. I think it needs to be banned. Like, I think that I... Like, I... Basically, in the last six months, I used to be able to go to a listing and just be like, cool. If it's a piece of dirt, I don't care. Yeah. Show me the piece of dirt. If you have some actual renders that you've done that are, like, going through the planning process Yeah. That's cool. Maybe throw those in. But it is a horrible experience going through a listing and seeing like, okay, that's a real photo. Yeah. Is that a real photo? It looks like they kinda like I hear up res... Ed or whatever. Yes. And I think that I think that there's, like, real... There there should be real, like, legal issues with, like, misrepresenting a property. [00:51:34] S3: There will be.
00:51:34 · Ryan Serhant, Jordi Hays, John Coogan
[00:51:34] S3: There will be. [00:51:34] S2: It should be on the consumer. Maybe it should be in Zillow or in Yeah. In Redfin or or in any of these tools. Brokerage. You should be able to, like, remix it yourself Yeah. In the app. But having sellers and and broke... And agents actually do it, I think, is totally wrong. It's so... It's it's annoying to the point where it's a negative signal now where I assume, like, your property probably sucks if you feel like you need to do this. Right? It's not... Say it won't it won't sell itself. [00:52:00] S3: I think I think yes and no. Virtual staging has existed for quite some time. Sure. As long as it's annotated and says this is virtually staged so [00:52:08] S1: you can [00:52:09] S3: see it. I'll tell you, most buyers don't know what they want until you show it to [00:52:13] S1: them. Yeah. [00:52:13] S3: Yeah. And so I agree with you. I don't think anyone should... There should be no lying. There should be no deep fakes. Yeah. Yeah. No one should be duped. If you have a plot of dirt, like you said, and you show that there's a house there without indicating that that house isn't there and you show up, that is lying. They should come after your license for that. Yeah. That is poor Yeah. Consumerism. But I just think it needs [00:52:31] S2: to be separated out. There should be like, here's the reality, and here's a possibility. Yeah. And there are, two different sections of the app. Yeah. I agree. And right now, it's, like, all all combined, and it's Yeah.
00:52:31 · Jordi Hays, Ryan Serhant, John Coogan, Joe Weisenthal
[00:52:31] S2: to be separated out. There should be like, here's the reality, and here's a possibility. Yeah. And there are, two different sections of the app. Yeah. I agree. And right now, it's, like, all all combined, and it's Yeah. [00:52:40] S3: Those companies have existed. They've tried to do that. Consumers won't use them. And so it's a cost that no one, like, no one actually will do it. They just say, show me what I think it could be and let me go through. But I [00:52:50] S1: agree with you. [00:52:50] S3: I don't think there should be fake AI generated photos. New York has already banned those. [00:52:55] S1: Okay. [00:52:55] S3: So Mamdani has already has already worked on that, and they're gonna go ideally market by market. [00:53:00] S2: But it is actually beneficial. I agree with. [00:53:02] S1: There you go. You go. [00:53:04] S0: We've done a lot [00:53:04] S3: for the city. [00:53:05] S2: Seems Yeah. Yeah. What's what's the overall what's overall, like, how's New York... What what are the trends in New York?
00:53:05 · Jordi Hays, Ryan Serhant, John Coogan
[00:53:05] S2: Seems Yeah. Yeah. What's what's the overall what's overall, like, how's New York... What what are the trends in New York? [00:53:12] S3: The trends in New York are are similar to the rest of the country. You have two buyer demographics. You have people who are buying with income, and you have people who are buying with wealth. Yeah. And that is it. Whether you're buying with your parents' income or your parents' wealth, which is a major part of the buyer's fear right now because it's the parents, the baby boomers, and the gen xers who created this mess in the first place. Mhmm. Coming out of World War one with their grandparents and then coming out of World War two, everyone sat down together as a community in this country and decided, you know, what we're gonna do? We're gonna create a system that rewards stability and punishes mobility, and we'll figure it out later. And later is here. [00:53:50] S1: Later is now. [00:53:51] S3: It's here, and we punish mobility. And so people can't move. Like, you have 100% stagflation, like we are we are in it. Pricing is incredibly high. Inventory is incredibly low. And even if you have a great buyer on the table, where do you go? We deal with this in San Francisco like crazy right now. Pricing in the San Francisco Bay Area now is up, I think, 17.5% year over year, but that's not even a [00:54:12] S1: Doesn't
00:54:12 · John Coogan, Ryan Serhant, Joe Weisenthal, Jordi Hays
[00:54:12] S1: Doesn't [00:54:12] S3: even That doesn't even capture what we're dealing with. 92% of every home in San Francisco this year has sold well over the asking price, not just over the asking price, but well over the asking price. And that's in part not because of what the home's worth. It's how much do you get that person to move elsewhere? Yeah. You know, we do deals on the... We just offered we had a... An oceanfront property in Palm Beach on the island. The owner had paid $45,000,000 for it. My client offered him a $125,000,000 to move, and the seller told me to myself. Not because he was angry. He said, where do I go? [00:54:52] S0: Look at [00:54:52] S2: my other options around [00:54:53] S3: it. There are no other options. There's less than 80% open oceanfront lots. What do you what do you do? I sold the Estee Lauder site last year for just under $200,000,000, and we went and bought a lot of others. I think it was the the most expensive residential sale of of all of 2025 in part because where else are you gonna go? Yeah. Florida is a state is the lowest tax state on the ocean Yeah. With ease of access to Europe Oh, interesting. But New York is strong. The luxury market is strong. I just sold Richie Saghian, the CEO of Fashion Nova Penthouse. And yes. And the mansion section. Right? Yeah. He bought the one. He also bought the penthouse of 111 Murray on Friday. So that in was the mansion section. You guys will go through it. [00:55:30] S1: Yeah. We love it. [00:55:31] S2: Yeah. On Saturday for $31,000,000.