Mike Ferry: Welcome and good morning to Mike Ferry TV the week of November 8th, 2021, as we both know, this year is coming to a very quick and rapid ending, and the business has been exceptional for the major portion of all the people in Real Estate today. I will also say to you that if you would like to have a great January and February in terms of commission earned and closings and checks cashed. Better, get to work a lot in November and December. I know all the reasons why people stop in Real Estate work in November and December. And all they are is really excuses that are keeping you from being productive when you work in an industry like we have that has 90 day cycles, taking a couple of months off because you haven't had a good year, taking a couple of months off because you've had a great year, taking a couple of months off because you're exhausted from working in a real job, you work 11 to 11 and a half months a year. So let's finish the year strong. For many, many, many years, I would start every seminar that I did, whether it be a half day, full day or several days. By writing the letters P, P, C Peter, Paul and Charlie on the whiteboard or blackboard. And then I would say to the audience, those are the three basic parts of a real estate sale. Prospect, present and close.
Mike Ferry: And you've heard me say it for many, many years. I have probably been using this example for the entire forty-seven years that I've been in real estate. And it's interesting because I used to commonly say today, we're going to do a survey. There's three basic parts to the real estate transaction prospecting, presenting, and closing. PPC. Now the question we want to discover today is which of those three steps is the most important? And I would actually say, I want you to give it a moment of thought and we'll take a vote. And generally speaking, about 80 percent of the vote would really look at prospecting as being the most important step. So, I'd write 80 percent below that. And then about 15 percent would pick the close, and I would write 15 percent and I'd say, well, that leaves, of course, five percent for the presentation. And then I would ask the audience, I said, tell me, please, why did you pick prospecting? Well, Mike, what's the point of being a great presenter on closer if you have nobody to talk to? And that was always the consensus and thus a lot of smiles and nodding of their heads on that particular point. Then I would say, who picked the close? Why would you pick the close? Well, what difference does it make if you can't close it down, you can't hammer it down.
Mike Ferry: If you can't get a signature, they're going to walk away and buy your list with somebody else. And I said, it's interesting that both of you, of course, are correct. Prospecting and closing is vitally important. However, the five percent that picked the presentation, it is the most important step in real estate, and then I would use this example. Has anybody ever driven by a For Sale By Owner and not stopped raise your hand? Well, the entire audience would raise their hands and why didn't you stop? I was too busy. I was going someplace. I had an appointment. I wrote the number down. I'll call them later. And these are all valid reasons why we don't stop. I said, But could the reason be we don't stop is because when we get to the door and they answer, we don't know what to say. And people would think about it for a moment and start nodding their heads, and then I would say, OK, for those that pick the close, I want you to think about this. You make a Listing Presentation, you show a property to buyer and you're very weak in your voice and your skill set in the words you use in the presentation. Does that build confidence and make it easy to close or make the clothes that much tougher? Versus a strong, professional presenter and a strong professional presenter is looking forward to finding a prospect, whatever that prospect type may be.
Mike Ferry: And the close for the professional presenter is very easy because closing, as you know, it's a natural ending to a strong presentation. So, it's the Superstar Retreat in July, one of the segments I did, which was I now have done this probably four or five times over the last 15 years that our big events titled How do I become a better presenter? Or in essence, how do I become a great presenter? Which then gives me the confidence to go out and prospect every day because I can't wait to share what I know about the marketplace and how to get a home sold and how to make the buyer comfortable in making the decision, which then makes the close very easy. Because if I present it in a manner that they really want to work with me, they're going to sign the contract without a lot of pressure tactics done by you and I. So I went to the dictionary, as you've heard me say, time and again, if you watch Mike Ferry TV or go to our events and I looked up the word presenting and here's what it said, "The act of performing". The act of performing, and again, if we've been together, either live or through these types of media, you know that I will often say a great presenter is nothing more than a great performer.
Mike Ferry: You're involved in a performance, whether it be showing a home to a buyer or trying to list a home, and then had a second definition, which I thought was great to formally talk about something in a professional manager, to an individual or a group. Then I wrote a big part of being highly competitive is the ability to present yourself and your services in a stronger and more professional manner than the competition. So what I'm going to do this week and then again next week is I'm going to give you a few thoughts that I have regarding becoming a better presenter. I thought no better time than to spend the last couple of weeks of November in the month of December perfecting our skill sets so we go into the new year at a high point. Now I'm sure many of you are great presenters. I'm positive that is the case. However, any great actor, any great singer, performer, dancer is always trying to take their performance up to a higher notch. So, let's look at some of the things we can do to increase the value we talk about to a Buyer and Seller, strengthen the presentation itself and then move forward and get more contracts signed. So, the first thought I wrote down is this: Keep your emotions between the lines when presenting or in essence, work to maintain an even keel.
Mike Ferry: Don't get too excited. Don't get too depressed. Don't get into an argument. You know, don't be waving your arms, crazily jumping up and down. You know, you see so many things that are being taught to Real Estate people today instead of knowing exactly what to say and how to say it in a manner that draws the people you're presenting to in and allows you then to explain the services you offer. Now I will say to you, you get a buyer call from a great referral and they've seen a house and they ask you to show it to him because they want to live in that neighborhood and you open the door and they say, we want to buy it. It doesn't take much of a presentation or you're fortunate enough to have a lot of past clients and you get a phone call on a Tuesday morning. Mike, we decided to sell our home, could you come by today and take care of it for us? Not much of a presentation. In there you're just virtually showing up and getting contract signed. But if you're going to grow your business and you're going to expand in 2022, you've got to move outside of those two circumstances. And if you're going to move outside, there's going to be some transactions that get a little tricky and they ask some questions and give you some objections.
Mike Ferry: And the more confident you are in knowing what to say, the more even keel or less emotions get involved in the transaction. Don't get too high. Don't get too low. Don't get too excited, don't get too addressed. Follow the scripts that we offer or that you have for yourself to transition that buyer or seller into working with you and signing a contract. I wrote down second, since we're dealing in an industry that often presents itself and unfortunately a very unprofessional manner, meaning everything from the words we use to the casual attire that so many today think is so appropriate. We have to understand that our appearance will often separate us quickly from the competitors and at the same time, your appearance should match the strength of your presentation. You have to decide and what degree you're going to look, act and talk like a professional salesperson. I guess, you know, it goes back to, do I want to be cool? Or do I want to be viewed as professional? You've heard me say this on Mike Ferry TV in the past. You have a seven o'clock listing appointment. You did your job. You're pre-qualified. You put together a strong prelisting package. You've sent the package, they've reviewed it. You call back and confirm they had a couple of questions. You responded to their questions.
Mike Ferry: It's now seven o'clock on Tuesday night. You walk up, you knock on the door, which you do. You take a half a step back in case you're looking out the people, they can see the smile on your face. They open the door. Many, many, many, many, many times they will make the decision subconsciously in the first three to four seconds to list or not to list based upon what we say to start and how we are viewed by them. It's not right. It's not fair that they judge us based upon how they see us, but that's called human nature. It's what people do today more than ever. So therefore, the more professional the approach in what we say, the more professional, the approach in the materials we send out, the more the professional approach in how we show up for the presentation, the less objections and the less their subconscious mind will be working against us, even when we say something highly intelligent. But then I wrote down this thought always present in such a manner that the client will be open and honest with you, wants to do business with you and looks forward to signing a contract. Well, Mike, how do you do that? You want the client to be open and honest. Correct. You want them to want to do business with you, right? You want them to look forward to signing a contract.
Mike Ferry: You want them to say, Can I borrow your pen? That's the ideal situation for all of us to attain. Well, how does that take place? The energy you display, the enthusiasm, the excitement that you display about the opportunity to sell them a home or list their home for sale. The smile on your face, the nodding your head in agreement as they talk and then listening to understand what they say. And there's a lot in that long sentence. This includes the energy you display, the enthusiasm and excitement that you have because really you have a chance to sell a home to somebody for three four five six seven hundred thousand dollars and earn a substantial commission and you're not excited about that. You have the opportunity to list a home for sale for three five seven to eight hundred thousand dollars and get a big commission check, especially in this market. And you're not excited about that? And if that's the case, shame on you. Get excited. But then the smile on your face, the nodding your head in agreement with what they say. So, what I'd like to ask you to do is this. As we look at today's thoughts and I want you to review them several times this week, and then we look at what I'm going to be talking about next week. I want you to think about how much more power you would have if you develop the skill set of knowing what to say and knowing that Mike Ferry, who has been doing this for forty seven years, still uses his notes every time he chats with professionals like yourself.
Mike Ferry: So never worry about the fact that well Mike, I'm a little uncomfortable reading the notes. If you read the notes 10-12 times every morning and you read the notes and practice and roleplay on a regular basis. Reading the notes is as natural to you as saying it from memory, which, by the way, probably is even more important. Although how often do you hear me say memorize the scripts? Almost never. Feel comfortable to walk in with your script in your hand, saying to the buyer or seller. I've written down some very important questions. May I ask them now? And they're going to, of course, say yes, and then you proceed to make a great presentation. So, for those of you that are in Southern California, I think it's around the second week in December, we're going to do the two days live with Mike Ferry. I'll be there with all of you. And then, of course, the third week in January, our annual Production Retreat, which will be at Caesar's Palace in Las Vegas, call the office. Get involved. Keep watching Mike Ferry TV. Watch this session time and time again, and we'll see you next week. Thanks for today!