Good Guys – Episode Summary

Episode: Big Deals & Bigger Egos with Ryan Serhant
Date: November 24, 2025
Podcast: Good Guys (Dear Media)
Hosts: Josh Peck & Ben Soffer
Guest: Ryan Serhant (Real Estate Mogul, Star of "Million Dollar Listing," "Owning Manhattan")

Overview

In this lively, sharply witty episode, Josh and Ben sit down with legendary real estate broker and TV personality Ryan Serhant. They explore the intersection of influencers and real estate, how attention is the new currency, and the psychology and culture of extreme wealth. The conversation ranges from inside stories on mega-mansions and billionaire egos, to cultural shifts in housing, the American dream, and the changing face of media and luxury. Packed with humor, sharp banter, and keen industry insight, this episode is as entertaining as it is illuminating.

Key Discussion Points & Insights

1. The Serhant Expansion & The Power of Influence

Timestamps: 00:26 - 04:14

• Serhant’s Expansion: Ryan talks about growing his real estate empire—opening offices from Arizona to Vegas, and the unique ways his agency operates in both top-tier and "tier B" cities.
• Influencers as Agents: Ben marvels at Serhant’s use of influencers (e.g. Tyler Cameron from "The Bachelor") as brokers. Ryan reveals his strategy: leveraging big audiences for attention and property visibility.
  • Quote: "The goal so far is no longer the fight for pricing or properties…it's the fight for attention." (C, 03:19)
• Young Decision-Makers: Ryan shares how a $90 million listing came from a 22-year-old’s influence over his family.
  • Quote: "That listing came to us from the 22-year-old son… The way we find out about any products—diapers or real estate or cars—is through the palm of our hands." (C, 04:14)

2. The Anatomy of a Mega-Deal & Billionaire Behaviors

Timestamps: 05:09 - 08:59

• What a $90M house looks like: Prime oceanfront, acres on the sand; at this price, rarity and location matter more than the structure itself.
• How Billionaires Operate: Efficiency is king; billionaires communicate almost exclusively via text or WhatsApp—no time for calls, everything must be documented.
  • Quote: "The wealthier people become, the less time they have. If it’s just a purchase decision, you’re doing it over text… you can always scroll back and see what you were able to put down in text." (C, 07:20)

3. Private Islands, Wealth Consolidation, and Option Value

Timestamps: 09:12 - 11:18

• Property Acquisition for Option Value: Ultra-wealthy buyers in places like Palm Beach buy not just a house, but neighboring lots—mirroring private equity strategies to control their surroundings.
  • Quote: "At that point, it’s private equity. People buy up property for option value the same way you buy up a company…" (C, 10:05)
• Numbness to Wealth: The exposure to such transactions can make even astronomical figures feel “numb.”
  • Quote: "I do get a little numb to how insane it is and what is the value of a dollar anymore? It's completely insane." (C, 10:47)

4. The State of Real Estate Economics

Timestamps: 16:04 - 18:09

• Commission Reality: Clarifies misconceptions—commissions on huge deals (like $308M) are actually 3%, not the tens of millions hosts imagine.
• Affordability & Foreign Ownership: Discusses how Americans find it harder to buy as global buyers drive up prices, but less glamorous cities can still be great if you’re willing to sacrifice on convenience.

5. Cycles of Cool: Why Cities Change

Timestamps: 18:40 - 21:40

• Gentrification & Coolness: Josh muses on how cool people make cities attractive, rich people gentrify, driving the cool out—a cycle happening globally.
• Ryan’s Take on Art & Place: Manhattan’s always had these socio-economic tensions; social media and "democratization of talent" lets people bypass expensive cities but doesn't abolish the lure of places like NYC.

6. The Florida Effect & State Competitiveness

Timestamps: 22:44 - 25:03

• Why Florida Booms: Low taxes, coastal lifestyle, and commercial incentives make it a magnet for high-value buyers. Ryan contrasts Florida’s “create and attract” philosophy to states like NY and California, which he sees as more “take and spend.”
• Property Taxes & Pricing: Even removing property taxes might not slow Florida’s escalation; luxury buyers rarely worry about carrying costs.

7. Hollywood, Location, and Identity

Timestamps: 25:03 - 26:50

• Entertainment Industry Shifts: Josh laments LA’s lost TV/movie production due to policy; Ryan sees Hollywood’s identity as moving from "filming capital" to "premiere capital."
  • Quote: "The idea of Hollywood never goes away. I think the location probably just changes... It becomes more symbolic than anything else." (C, 26:50)

8. Content Creation vs. Real Estate Deals

Timestamps: 30:22 - 33:25

• Ryan’s Dual Passions: He thrives on both the business and creative sides—TV legitimizes and fuels the brokerage; the Netflix style ("Owning Manhattan") differs from old episodic Bravo shows, focusing on hook and cliffhanger.
  • Quote: "The part of my brain that enjoys content wouldn’t be fulfilled... if the part that enjoyed building business didn’t exist. You gotta find that balance." (C, 32:02)

9. The End of Million Dollar Listing & Rise of Netflix

Timestamps: 33:25 - 37:21

• Shifting Formats: Traditional real estate shows follow familiar patterns; Netflix allows more freedom and innovation—Ryan recounts pitching "Owning Manhattan" as “Succession meets Vanderpump Rules.”

10. Housing, Debt & the American Dream

Timestamps: 37:21 - 40:50

• Homeownership Myths: Suburbs, as constructed by post-war car companies, changed American living; mortgages are simply products, now joined by "buy now, pay later" schemes that reflect stagnant incomes and rising costs.
  • Quote: "Everything now has become productized…all these companies are just huge because people have less income than ever before." (C, 39:15)

11. Wealth, Happiness, and the Search for Importance

Timestamps: 41:27 - 44:45

• Chasing Importance vs. Happiness: Ryan posits that many chase status or importance, mistaking it for true happiness.
  • Quote: "Are you waking up to feel happy or to feel important? There’s an epidemic now of the idea that importance draws a direct line to happiness, and it’s just not the case." (C, 41:27)
• Life at the Top: Happy billionaires exist, but happiness is relative. Extreme wealth often breeds a compulsion for more—a hunger that rarely subsides.

12. Ownership, Luxury, and Petty Billionaire Stories

Timestamps: 44:45 - 57:10

• Joy of Use vs. Ownership: Ben prefers experiencing luxury (like yachts, jets, or apartments), not owning it. Ryan explains the ultra-wealthy "own luxury, never the headaches."
  • Quote: "Once you’re at that level, you don't…there is no job. That job is someone else’s problem. You never actually think about it." (C, 45:41)
• Petty & Principle: Anecdotes of high-net-worth clients negotiating fiercely over (seemingly) trivial things—like a pizza oven or a blanket included in a $40M deal, or $90k in staged art in a $22M apartment. At this level, it’s about principle, not practical value.
  • Quote: "[It] was no longer about buying the house. It was about what’s not coming with the house anymore… You keep your pizza oven and your blankie, I’ll keep my $40 million. Go fuck yourself." (C, 49:26)

13. The "What Are You Nuts?" Segment

Timestamps: 57:22 - End

• Pet Peeves:
  • Ben: People wearing NY Marathon medals at work the next day.
  • Josh: Mistakenly assuming someone’s Halloween costume.
  • Ryan: People who ask for things to be put in writing—then never read the email. ("There should be…capital punishment for people like that," he jokes, C, 61:06.)

Notable Quotes & Memorable Moments

• On real estate attention wars:

  "The fight is no longer for pricing or properties—it’s for attention. It sounds gross, but that’s what it is." (C, 03:19)

• On extreme wealth:

  "At that point, it's private equity...they own that option value there." (C, 10:05)

• On housing affordability:

  "Property appreciation…has not increased with income, and that reckoning will come soon." (C, 17:20)

• On "Owning Manhattan":

  "I wanted it to be a deal show, not just a listing show…Succession meets Vanderpump Rules." (C, 36:25)

• On American spending culture:

  "We’ve been conditioned: go get a student loan…go get a job, we don’t know if you’ll ever be able to pay off this loan…just go do it so you can pay us the fees." (C, 38:09)

• On happiness and status:

  "Are you waking up to feel happy or to feel important? There's an epidemic now of the idea that importance draws a direct line to happiness, and it's just not the case." (C, 41:27)

• On luxury, mindset, and pettiness:

  "At this level, it’s not about pettiness, it’s about principle." (C, 49:26)

Conclusion & Callouts

This episode serves up a bracing look at the modern real estate game, where media, mega-deals, and mind games overlap. Ryan’s blend of insight and irreverence, plus dozens of laugh-out-loud moments courtesy of Ben and Josh, make this a must-listen for fans of real estate, wealth culture, or just great podcasting.

Don’t Miss:

• Ryan’s $308 million Palm Beach mega-deal breakdown (07:16)
• “Succession meets Vanderpump” Netflix pitch for "Owning Manhattan" (36:25)
• The Petty Pizza Oven War (49:26)
• Thought-provoking riffs on the American dream and financial productization (38:09, 40:50)
• “What Are You Nuts?” closing segment (57:22)

Watch for:

• "Owning Manhattan" Season 2 on Netflix, Dec 5!

This summary preserves the episode’s mix of sharp industry knowledge, cultural observation, and the fast, funny tone unique to Good Guys.