Learn about the partnership with Constellation1 Data Services that is helping SERHANT. lead as a real estate industry innovator and grow its national footprint
Building a brokerage from scratch takes a lot of grit. If anyone has proven what’s possible when you combine the right team with the right mindset, it’s SERHANT.
Founded in 2020 and already ranked sixth among real estate brokerages in New York City by The Real Deal, SERHANT. has conquered the growth challenges maturing brokerages face while setting a new standard for entrepreneurial innovation.
Read on to learn how SERHANT. has left its data difficulties in the dust and what future innovations the most-followed brokerage in the world has in store.
in 2 years
among NYC brokerages
followers across social media
SERHANT. is a revolutionary brokerage that has made a really big splash since it launched in 2020.
Forged during the Covid-19 pandemic, SERHANT. has created a new brokerage model and shattered all revenue expectations. The firm has closed more than $3 billion in deals since it opened. In 2022, it was the second fastest-growing residential real estate firm in New York City by percentage, increasing headcount by 156%. It boasts 95% retention and has made a name for itself as the future and tech-forward brokerage and earned its spot as the most-followed brokerage in the world, with more than 6 million followers across all social platforms.
SERHANT. is actually six companies in one. It has its luxury residential real estate business, a successful new development division that signed on or launched more than 20 distinct projects in 2022, a real estate app and software development operation, an education branch providing training content with more than 15,000 members across 110 countries, an in-house production studio that has created more than 880 TB of video in less than three years and won two Shorty Awards, and an in-house creative agency that produces the content to market all the other aspects of its business.
At SERHANT., they believe its progressive and innovative team deserves the best forward thinking tools. We couldn’t agree more.
As SERHANT. grew, the firm looked to find a way to enhance its listing data. Ryan Coyne, SERHANT.’s Chief Technology Officer, affectionately known by friends and colleagues as “Coyne,” has worked with Ryan Serhant, the firm’s founder and CEO, for nearly a decade and is intimately familiar with SERHANT.’s business and listing data challenges.
“As we expanded outside of Manhattan and into the greater New York metro area, the Hamptons, Long Island, Westchester, and the Hudson Valley, we realized it was going to be difficult to share listings in a single, unified way because MLSs are all so different, which makes it more complex.”
For every MLS SERHANT. wanted to onboard, there was a host of new hurdles:
- New agreements
- New integrations
- Unique fields, some of which weren’t RESO compliant
- Different API rate limits
- Different keys and key management issues
- Different compliance rules
SERHANT.’s Top 3 Needs
A long-term partner to support its goals and growth
Help navigating the complex MLS data landscape
Support to supercharge its impressive tech ambitions
SERHANT. Announces Its National Expansion
Looking for Ways to Simplify MLS Listing Data
In 2022, SERHANT. launched its national expansion.
“We were growing rapidly and needed data for more markets,” Coyne said. “Not only that, we needed help overcoming all our data hurdles. When we looked into spinning up new feeds, we were told we might be able to add a few new markets by year end, if everything went smoothly.”
But SERHANT. was ready to scale faster.
“We started looking for a new partner, and in fact, the first company we talked to referred us to Constellation1,” Coyne remembers. “The Constellation1 team had the answers we were looking for.”
Since then, SERHANT. has been able to quickly expand into six new markets within two months this year, thanks to our 25+ years of MLS data expertise, well-established MLS relationships, and contract and compliance management experience. It has imminent plans to enter even more markets soon.
As SERHANT. continues to expand nationally, it can choose from the more than 450 MLSs around the country we have strong relationships with, covering all but the most obscure places. Coyne credits our guidance and assistance navigating the complexities of the process as one of the reasons SERHANT.’s expansion has been so smooth.
“Constellation1 has been a tremendous partner. Their support has given us increased confidence in our data as we continue to rapidly scale.”
Future-Obsessed: Embracing Real Estate Technology at Every Level
One of the reasons SERHANT. has grown so quickly and so successfully is its complete embrace of technology.
Most brokerages face problems upgrading their tech stacks, then getting high adoption from their agents. At SERHANT., technology is central to the firm. The only limit on the speed of their tech development was access to certain data. Now, they have data covered.
To sell properties with list prices in the multi-millions, it helps to leverage the very best tools. For Coyne and the SERHANT. Technology team, this means developing a proprietary listings API that utilizes the latest RESO standards while reducing strain on infrastructure. It means caching data to support lightning-fast apps for agents, so they can market their properties easily. And ultimately, it means embedding innovation in everything it does.
“Constellation1 is a valuable partner because we both get to focus on and excel at what makes us special.”
A Passionate, Creative, and Trust-Driven Partnership
Real estate is an industry that isn’t just powered by data, but by trust—trust in your partners’ expertise, reliability, and shared values—all contributing to shared success.
Working with Constellation1 means SERHANT. receives the best data, so its team can focus on developing optimal tools for its business lines and salespeople.
Is Technology Going to Replace Real Estate Agents?
Technology is accelerating at the speed of light. You don’t need to have tried ChatGPT or dipped your toes into the metaverse to realize just how quickly things are changing.
But are agents’ jobs at risk? Are computers going to be selling properties for us before too long?
On this point, Coyne is resolute:
“Technology won’t replace agents, but the brokerages that don’t embrace tech will be replaced by the ones that do.”
Henry Ford is famously quoted as saying that if he had asked what people wanted, they’d have said faster horses.
The SERHANT. team was steadfast and determined when it took a risk and built the real estate marketplace and technology of tomorrow that no one was asking for yet. It’s one that has paid off.