10 Words And Phrases for Real Estate Agents
Hello there. Welcome back to another edition of Mike Ferry TV. My name is Tony Smith. This is the week of September 4th.
As always, thrilled to spend a little time with you on Mike Ferry TV. Hopefully, you guys got a chance to be at our Superstar Retreat in July. Hopefully, you had a chance to look back through IR30 through all of the incredible replay of that event. But here we are in September. We got September, October, November, and December. There’s still a lot of time left this year to achieve a lot of business goals. So I hope you’re in the middle of that process. I hope you’re sharing it with everybody. But I was going through the notes from Mike Ferry at the Retreat, and there was one segment of the notes that many of you will remember, which is ten words and phrases that we should keep in front of us at all times. Well, I’m not sure if you are keeping these words and phrases in front of you, but I thought today I might just give you a little reminder of these words and phrases so you can put them back in front of you in case you lose sight of them. Okay.
1) Opportunity
The first word is opportunity. You know, in our business, we have to become really the masters of seeking out and finding the opportunities that are in front of us today. Every change in the market, every shift in things, prices going up, prices going down, prices flat, interest raising, rising, competition coming, competition going. They all lead to the potential of opportunities if we’re looking for them. I wrote a question down. What is the single biggest opportunity that you’re looking to capitalize on in the remainder of this year? One thing I think you should capitalize on is the way that agents are mentally and physically beat up and moving away from high production today. You can capitalize on it. Think about how few mailouts have been sent this year. Think about how the number of posts has decreased because nobody has anything good to say. Think about the confusion that the public has about interest rates and prices and all this stuff. Well, all that means to me is an opportunity. If I’m mentally stronger than my competition, if I’ll take stronger activities than my competition, if I’ll react properly to the things that happen, I can take advantage of the opportunity.
2) Enthusiasm
The second word is enthusiasm. Okay, now you’ll see Mike Ferry. He will work us on this quite a bit because, in his opinion, most of us don’t exude the enthusiasm that we should. And can you appreciate the fact that the 2023 year isn’t a wide-open mode for enthusiasm for most Real Estate agents out there? How would you grade your enthusiasm? You know, when there are little troubled times out there, the market gets a little shaky. The public might lose enthusiasm, right? The lenders might lose enthusiasm. The title might lose enthusiasm. You know, your clients, your past clients might lose enthusiasm. But it’s your job to bring enthusiasm every day, isn’t it? How would you grade your enthusiasm on a scale of 1 to 10 on an average workday? There’s always room to raise your enthusiasm.
3) Market Statistics
The next word he wrote down, was market statistics. Are you in a constant stream of studying and learning how to understand and even more importantly, how to deliver the market stats to the public? Do you know what the stats are in your market? Are you using them to your advantage to get listing opportunities? You know, stats are one of the fastest ways to build that authority that you need and to separate yourself from the competition is your ability to deliver market stats. Are you staying involved? Are you learning how to deliver them to the public?
4) A Strong Sales Plan
How about this word a strong sales plan? Okay. Are you working from a strong sales plan? Do you have a good Mike Ferry Coach? If you don’t, you should. But how strong is your sales plan, right? A majority of agents who list properties on a regular basis have strong sales plans. A majority of agents that work with buyers don’t have a sales plan. “Well, I can’t have a plan, Tony. I’m too busy running around showing buyers every day. How can I follow a plan?” Become a listing agent? Okay.
5) Intensity
How about this intensity? How would you grade the level of intensity that you’re bringing to the game? You know, I guess the opposite of intensity is apathy, which drives me nuts. Right. Are you being intense? Are you serious about the process that you’re bringing? Are you intense about the market steps that you take to get listings? Are you intense about the way you follow up with leads? Are you intense with the clients about getting their home listed and getting it sold for top dollar? How would you grade your intensity today?
6) Need vs Greed
How about this one? Need versus greed. There’s an interesting statement. Okay. Are you fully immersed in finding people who need to sell or have to sell versus just being greedy? The market is shifted such that if we’re not really looking for people that have a strong need, high motivation to sell, you could be spending a lot of time that aren’t playing well with others. They don’t have quite the motivation to do what they need. Do you ever notice how an unmotivated seller can really mess up the system? Okay. Have you figured out how to find them?
7) Professionalism
How about this little statement? Professionalism. Boy, in today’s world, I’m not sure if the professionalism is getting better or worse. It feels like worse at times. Are you dressing properly? Are you working on the delivery of your scripts and dialogs? Do you know the market stats? Are you upgrading everything you can upgrade in your business or are you wearing a t-shirt to work and not working on scripts and dialogs? There’s a mile to go for professionalism and I think the industry is starving for it today, don’t you?
8) Repetitious Boredom
How about this word repetitious? Boredom? Okay. I have to share with you one of the biggest challenges that agents face is dealing with repetitious boredom. If you’re going to be a high producer, if you’re going to learn to prospect and generate listing appointments on a regular basis, it comes with the territory. You’re going to have to put up with repetition, repetitious boredom. You know, Sabrina told us a quote not too long ago. She said there was a quote that said, “Have you ever noticed how people who are complaining just appear like they’re out of control?” If you’re complaining about something. Oh, it’s so boring. Sounds like you’re out of control. There’s no inventory. Sounds like you’re out of control, right? I don’t like prospecting. It sounds to people like you’re out of control. So the reality is repetition is boredom. It takes more time. It takes a lot more conversations. Less people are answering the phone. It’s a fact. So you have to deal with repetitious boredom. Is that a challenge for you? I hope not.
9) Distractions
How about this word, major word? Distractions. Okay. What distractions have you not overcome yet? Do you still distracted by the phone? Are you still distracted by the computer and emails? Are you distracted by staff and the family? We can’t be distracted more than ever. We have to be focused on the job at hand. What is that biggest distraction that you need to get rid of or move out of your way so that you can move your business forward? How are distractions playing a bigger role or a smaller role in your business today? Hopefully you’re reducing the distractions down to almost none, especially in the morning.
10) Work Ethic
And the tenth word, tenth phrase that Mike Ferry brought up at the Retreat was work ethic. Okay. How would you grade your work ethic? Okay. Showing up to work every day, working a good eight, nine, ten hours a day, day in and day out, following a schedule, right? Versus showing up and being caught up in the drama and whatever else is going on. Having days and weeks disappear. I hope that’s not happening for you. Okay.
So when Mike Ferry brought up these words, he said, let’s put them in front of us. I took a note and I said, “What if you were to grade yourself on each of these today?” What if you were to take each of these words and each of these phrases and just give yourself a little critique if it’s a problem or not for you in your business? If you’re taking advantage of it or not. If you can move the things that are a problem out of your way and take better advantage of the things that are working, don’t you end up making more money? We think so. Hey, thanks for your time today. Thanks for spending a little time on Mike Ferry TV. Look forward to seeing you at a Real Estate Event real soon.
