Back to Blog

How Do I Develop Versatility In The Real Estate Industry?


Welcome and good morning to Mike Ferry TV on “How Do I Develop Versatility In The Real Estate Industry?”

It is the week, as you know, of December 12th and the holidays are right around the corner. I’m hoping that you’re out working every day because we always have to remember one thing :

Even though it is the month of December, even though the market has changed and is a lot more normal than it was, say, 18 months ago, there are still a lot of transactions being done every day in every city, every county, every state, every province in North America.

And we just are trying to get you to participate in those transactions.


Becoming a versatile real estate agent


Probably 22 to 24 years ago in San Diego, California, doing a Production Retreat. We had 2000 attendees and I said to the group, “I want to share something that I’ve been thinking about quite a bit recently.”

There is a reason why most people’s production is at the level that it’s at and in many cases, but actually, with very few exceptions, does it accelerate, grow and become stronger in terms of their productivity?

And there’s always a number of stories … and there’s a number of excuses … and the economy is bad … or the economy is good … or the competition’s too tough … or there’s too many people in the office … or the Broker doesn’t support me … or anything else that we come up with as an excuse.

But what I said to this group is let’s eliminate the excuses and the stories that often we’ve been telling ourselves for many years and let’s just look at one word, and that is the word, “versatility“. Which I have talked about many times on Mike Ferry TV over the years.


What can versality in Real Estate can do for you?


And versatility is the one word I said to this audience that is probably keeping everybody from doing an additional 15 to 20 transactions a year.

Now, there were people in the audience who are brand new licensees that walked in and said, “I’m only brand new. I haven’t even done a deal yet.” Well, this word will keep you where you are, which is not doing a deal.

Or if you do, you’ll do three or four, probably at the most. I had people that were doing 30 deals a year saying, “I’m doing 30 deals, making a lot of money, and you’re saying that I should be doing 50.”

But all I’m saying is, “With versatility, you’re opening up the market. So you can do dramatically more.” And then, of course, I had a lot of top producers say, “You mean that word could help me move from 130 to 150 to 160?” I said, “No, it’ll move you from 170 to 180.”

And of course, then the question is, “What does the word versatility mean?” And as I’ve stated for so many years, versatility is simply the ability to adapt quickly to a wide variety of people, a wide variety of situations, conversations you get involved in.

You know, we talk about the four Personality Styles: the driver, the analytical, the amiable, the expressive, and everybody is one style of the four.

We’ve talked about that on Mike Ferry TV many, many times over the course of the last few years. But each of us has a very defined Personality Style. And it is easy for us to adapt to people that are just like ourselves.

I’ve been told thousands of times by agents. I took a couple out to show them property. I was sitting on a Listing Presentation and I just didn’t feel comfortable with them, so I didn’t sell them a home. I didn’t list their home.

Well, is it that you didn’t feel comfortable or was it the fact their personality was very different from yours that you, for example, were highly expressive and they were highly analytical and you didn’t see the difference and as a result you were uncomfortable.

And in many cases, they were going to give you an objection and you were happy to get it just to get out because you were uncomfortable. Well, that’s a lack of versatility. So the question that I had to answer for the group in San Diego was, “How do I develop versatility if I want to get some versatility in my life?”

And be very honest with you guys and gals, the majority of people do not want to develop versatility because they’re so comfortable in their life the way they are in terms of productivity, lifestyle and the things they think about and do.

But the people that reach the highest levels of productivity, importance, friendships, growth, extending their careers are the people that have the highest levels of versatility.


How to use versatility to your advantage in Real Estate


So I wrote down a series of thoughts. I want you to think about them because it only takes one or two of these maybe ten or twelve thoughts to give you more versatility so you can more quickly adapt to some of the people you talk to, whether it be on the phone, in-person, showing property, presenting an offer or on a Listing Presentation.


So the first thing I wrote down is this consider (keyword is consider) making some changes in either your personal or business environment.

Make some changes in your personal or business environment.

And by “changes” I’m talking about, maybe it’s time to buy a new living room set. Maybe it’s time to put in new carpet. “Well, I don’t need to spend the money. And, you know, the carpet is still okay and I can just have a cleaned.” Well, that’s a lack of versatility.

If you have the money invested in making some pleasure for yourself and your family by changing the wall coverings, by maybe painting the house, or maybe something really big, buying a new home, a new car for yourself, making significant changes in your personal and business environment.

Expand your versatility because you have to get out of your little box, out of your comfort zone.


I put down a second thought … put yourself with people or in situations that make you uncomfortable.

Put yourself in situations or with people that make you uncomfortable.

Why do agents not knock on doors, make phone calls or even call their database?

Because they’re uncomfortable, in the fact that, that person they’re talking to may have a question they can answer. That person may say something that you don’t agree with. And instead of smiling and nodding and trying to understand, we withdraw.


I wrote down and this is probably one of the most important ones … if you want to develop versatility, we have to stop having to be right all the time.

Now, it’s so interesting to me. We have Coaching Clients that call me every day and we have Coaches that I work with every day and prospects like maybe some of you that I talk to all the time.

In fact, this week I’m doing a two-day event in Anaheim, California, two-day listing seminar. We’re going to have just a little over 500 people in the room, which for mid-December is a pretty good crowd. I’m excited about it.

But there will be people that walk up and tell me that what I’m teaching them is wrong. And you need to teach it the way I do it, not the way you do it. And of course, I always smile and say, I can appreciate that.

But did this crowd come to hear your message or mine? Well, as soon as I say that, then I’m having to be right and challenging them on them have to be right.

Because when you have to be right with a Seller or you have to be right with the Buyer. That has to make them wrong. And if you make the Buyer or Seller wrong, do they want to sign a contract with you? And the answer is, “No.” So versatility is quit having to be right.

Free Coaching Evaluation

And then I put down this thought … when you’re meeting people for the first time, leave your ego outside.

“Hey, look at me. I’m the number one agent in my office.” Well, are they coming to you because they want to know that you’re number one? Or are they coming to you because they want to see if you can assist them in the buying or selling process?


I wrote down next to read more books, go to some new movies, Go see a play or a concert. Go to a new restaurant. Get [again] out of your little box or comfort zone. Try something new.


I wrote down next, make some financial commitments to force you into a new level of action.

“Well, Mike, you don’t understand. This market is down 5%, 20%, 30%.” Or whatever the case may be. But yet there’s still business being done every single day.

Why are you not doing more business? Because the versatility that you say you have doesn’t exist in most cases. Because there’s going to be within five miles of your office listings taken today and Buyers buying houses. Are they calling you? No. Are you calling them? No. It’s a lack of versatility.


I wrote down …  create or Join a Mastermind Group where you’re forced to stretch yourself a little bit and take some action.


I wrote it down … look for new things to try today. Maybe a new habit. A new habit, a new sport.


I wrote down … create more exposure to people who are doing more than you do.

In January, we have our annual Production Retreat. The room holds 2000. We’re going to have 2000 people in attendance. We’re going to have 750 that are doing business at this level every year, year in and year out.

Most people don’t want to walk up and shake hands, introduce themselves because they’re uncomfortable. Put yourself in that uncomfortable situation by creating an exposure to people that do more than you do.


And then I wrote down two more thoughts for you on versatility.

Start asking more questions because that creates conversation and it gives people a chance to express themselves.

And as they express themselves, they identify the type of personality they are. Are they a driver, analytical, expressive or amiable?

But if you’re going to ask questions I wrote down, it may help if you try listening to the answers. Because as we listen to the answers, we learn, we grow and therefore we create opportunities.

So it was a very challenging hour and a half that I worked with this audience in San Diego 20 to 24 years ago.

But a lot of those great people took that advice and have been using it ever since and have gone to heights of productivity that the many times never dreamed of.

Which also tells me as a reminder to all of you, don’t let the economy, don’t let the interest rates, don’t let the competition keep you from taking action every day.

Four letter word for high productivity … WORK. People buy homes in the month of December. People list homes the month of December.

All we’re asking is that you participate to make your holiday season, that you celebrate a little better. Talk to you next Monday.



Share this post

Back to Blog