Welcome to Mike Ferry TV the week of June the 9th. The year goes by quickly. This what, 21 days will be halfway through 2025 and hopefully all of you are planning a great second half to the year.

Hey superstars, it’s Tim Hanson from the Mike Ferry Organization. I’ve been around Mike Ferry and his sales system for over 32 years. I want to thank you for being a Mike Ferry TV viewer. And as you know, the Superstar Retreat is right around the corner, so Mike has allowed me to offer you a Superstar Retreat ticket for only $275. So, click the link in the description and register today for the Superstar Retreat in Las Vegas on July 22nd through the 25th. See you there!

1) Pre-qualifying is nothing more than asking questions

Yesterday I did a seminar here in Las Vegas, and one of the attendees walked up and said, I have a question for you. I was at your Production Retreat back in January in Las Vegas, and you made a statement that you said that the ability to ask questions was the most important thing that a real estate salesperson could learn to do. But today you said the most important thing we could do was learn to pre-qualify. And I said, well, first let me ask you a question. Why are you asking? He said, well, I’m very analytical. I take things literally when you teach them. And he said, I’m having a very hard time in this market. You know, we’ve had a little declining market take place for the last six months, and I need to know what to do. I said, well, ask a lot of questions when you’re prospecting, ask a lot of questions when you’re pre-qualifying and presenting. But today, because the interest rates are relatively firm at the six plus percentage and inflation is still in play, the average buyer is being priced out of the House. So therefore, pre-qualifying before you show becomes more important than probably ever before.

2) Strengthening your mindset every day is critical

I said the second thing we have to understand is that the mindset that you maintain, and the mindset is what’s going on in your head at a given moment about a person, a situation or a thing. The mindset you maintain about the market has to remain very positive, which means you have to do input every day, whether it be reading a couple pages of a good book or listening to a great CD or calling somebody in your mastermind or role play partners and doing a little pep talk for each other. You got to strengthen your mindset in 2021, 22, 23 when the market was going this way. Mindset didn’t make any difference because buyers were going to buy in spite of the real estate salesperson. So, number one, yes, pre-qualifying is the most important, but it revolves around asking questions, which is what I talked about in January here in Las Vegas. But number two, with the market being what it is today, strengthening the mindset is probably one of the most important things you should do.

3) Decide which skill is the weakest of the sales skills required and necessary to become successful and work on that skill every day for 15 to 20 minutes

But then I told him, number three, what skills have you had the hardest time developing and using? He said, well, I’m not. I’m not sure I’d have to give that some thought. I said, well, let’s do this, give it some thought, decide on which skill is the weakest of the sales skills required and necessary to become more successful, and then work on that skill every day for 15 to 20 minutes. It could be the skill of asking questions. This could be the skill of making a strong presentation. It could be the skill of handling their questions and objections. But find the skill that your weakest at and work on it virtually every single day.

4) Always remember that a strong presentation to a buyer or a seller is going to win them over to your side much more quickly

And then number four, I said to him, always remember that a strong presentation to a buyer or a seller is going to win them over to your side much more quickly. So how much time do you spend on a listing presentation? He said 60 to 90 minutes. I said, you heard the top agent in town, Dan Mumm, say that he does his entire presentation in virtually 20-25 minutes. So, you’re limiting yourself, and you’re exhausting yourself by trying to spend an hour and a half with somebody that may not be motivated because you did not pre-qualify. So, think about strengthening your presentation. What are the five bullet points that you have to deliver to a seller or a buyer to cause them to want to list or buy from you versus somebody else. He looked at me and he said, hey, thanks for the seminar. And he turned around and walked away, which was kind of fun. But the truth is, those four points in the marketplace for the second half of this year are critically important to each and every one of us.

So, let’s remember, the pre-qualifying is nothing more than asking questions. Number two, the strengthening your mindset every day is critical. Number three, which skills are you lacking or not performing at the highest level? And are you willing to practice that skill and make a part of your sales presentation? And then number four, strengthen your presentation. Be stronger with your voice. Be stronger with the points you make. What are the bullet points you’re going to present? And I think if you do even two of those four, you’re going to have a great second half to the year. We’ll look forward to talking to you next week.