Hi. Welcome to Mike Ferry TV. I’m Ron Cronin. We just returned from the 2020 Production Retreat in San Diego … it was 3 incredible days learning how to sell 50 homes a year … how to sell 100 homes a year … and how to sell 150 homes a year … and we’ve got incredible points from Mike on how to do just that.
Through the program, I made some notes for this episode of Mike Ferry TV and I was thinking of some changes that everyone on this video or everyone watching this video could make … changes that you could make to increase your production, but they’re just slight changes. They’re things you’re already doing, but you’ll just tweak it a little bit. You’ll understand as we get started … write these down please … and by the way, all of these changes are cost-free. I know you like the sound of that.
The first thing I wrote down is … Mike teaches us … in our business plan, through the year … to call our Past Customers and Centers of Influence … he teaches us to call 4 times a year. What I’ve discovered is that agents don’t always follow that point all the way and what happens is they’ll call maybe 2 times a year … or even 3 times a year … but remember, Mike says, “Call 4 times a year.” So that would be an adjustment that you could make that’s easy … that’s not a big deal … and that you could start immediately.
Remember, if you did it every 90 days or every quarter … maybe you call everyone the first 2 months of the quarter and then you skip a month and then you call them the first 2 months of the next quarter … the key is they get 4 calls from you.
Hey, maybe follow the script when you make the call? Follow the script … it’ll help you get referrals … it’ll help you get appointments.
The next thing I jotted down is that he also says to mail a postcard 4 times a year to your Past Customers and your Centers of Influence. So, we have to call 4 times a year … and then number 2 … mail 4 times a year … but what I’ve found in the room is that the agents don’t always mail. You don’t know what to mail … you’re not mailing a postcard … you don’t send them anything … maybe once in a while. Maybe you send a holiday card or something like that … a birthday … anniversary card … but they’re not getting four cards from you or four pieces of mail from you every year.
We want you to mail something hardcopy … like a simple postcard reminding them that you’re in Real Estate … and then on the card, ask a question or the print should give them something to respond to. Instead of saying on your card things like, “I love referrals,” simply say something like, “Who do you know that would like to buy or sell Real Estate?”
The second idea was to mail 4 times a year … instead of 3 times … instead of twice … or instead of never. A simple change. It could be a postcard … it could be a flyer … it could just be a letter from you.
The next thing I wrote down … Mike teaches us to ask all of the prequalifying questions … and not everybody asks all the questions. You want to make more money? Sell more houses? Ask all of the prequalifying questions … the ones that are hard for you. Let’s make them so it’s not hard. Let’s gain the confidence to ask the question … know how to respond … and then that you ask all the prequalifying questions. It’s only going to help you take more listings. So that would be another change and a strong commitment to ask every time.
In fact, we often recommend that what you would do is that every time you have to prequalify an appointment … print off the prequalifying script … write the Seller’s name … the address and the phone number at the top … and then use it as a form to fill out. Simply write their answers next to the question on the script … it’s for your own use … and then maybe take it with you on the listing presentation so that you can see the answers that they give you over the phone. By using it as a form, you have a form for every prequalifying call you did and every appointment you went on. Pretty cool idea.
Next thing I’d have write down is … oh, this is a big one … put a star next to this point … I said it at the Retreat yesterday … I said you’ve got to have the scripts memorized all the way … all the way. It’s 2020, let’s not run around with the scripts halfway memorized or partially memorized and you have to have it in order to be effective because … remember, if you have to have it … don’t get me wrong … we always want you to have it in your hand … but if you have to have it in your hand, then your focus is on what to say next and I don’t want your focus on that. I want your focus on what they’re saying … where they’re going … what their concerns are … what their emotion is … what their personality style is. There are so many other things that you need to be focusing on versus what to say.
Now, if I asked you, I’d probably find out that you have the scripts about 80% memorized … maybe 90% memorized, but the key this year for you is 100%. You’ve got eight scripts that you have to learn … Expired, For Sale By Owner, Just Listed, Just Sold, the Past Client/Centers of Influence script, the Lead Follow-Up script, Prequalifying … that’s number six … number seven is the One Minute Presentation and the last script is the CMA Presentation.
I mean, come on guys and gals … remember how much money you plan to make by using these scripts … let’s get them memorized for 2020.
Next thing I wrote down … there’s just a couple more … is … this is important because most of you watching are in our coaching programs and I’m going to ask you to do 80% of what your Coach says. Now that’s going to be hard. When you ask the Top Producers, they openly admit, “I’m doing a fraction of what my Coach tells me to do. I’m trying … I’m doing the best I can … but I’m doing a fraction of it.”
So how about this year, we do 80%. Now it sounds kind of weird, doesn’t it? Like we all … with the expensive coaching, with the investment you’re making, you’d think you’d want to do 100% of what we tell you to do. You’ll only make more money, but the truth is … I’ll be happy if you do 80%, okay? That would be a realistic expectation for you.
This year’s going to be the year … 80% minimum of what your Coach tells you to do.
The next thing I wrote down … this is important … I’ve learned that there’s this group of clients who only go to Retreats … and they don’t go to the workshops that we put on around the country throughout the year … or they’ve been before and you haven’t been in a long time or whatever it is. What I’m asking you to do is … this year, remember, you were asked by Mike … part of the system … part of the plan … part of your growth … is that you’re going to go to a minimum of four Mike Ferry events each year.
You’ve got the Production Retreat at the beginning of the year, Superstar Retreat in the summer, and then what’s next? Remember, we’ve got three new programs and workshops for you to attend … M3 Strategies … we have List2Last, which is our excellent listing workshop … and then we have Scripts 4 Superstar, which is our skills class … 3 days of building your skills and learning what to say.
I know you’ve attended those workshops before … however, this is the year … it’s time to come back. You can no longer say, “Well I don’t go to workshops … I only go to Retreats.” We have a great time at the workshops, we learn a lot, we make money while we’re there doing the homework … it’s exciting and I want to see you there.
The last thing that I wrote down is … one idea is that some of you are not using the Pre-Listing Package on your appointments … you’re not using it … you’re not sending one … or some of you don’t have one yet. It’s crazy. You’ve got to have something to prepare the Seller for your appointment.
Remember, the purpose of the Pre-Listing Package is to answer the customer’s questions in advance so that when you get there, it’s much easier for them to make a decision. If you give them the answers … like the price and the commission and the terms of your contract … if you give them that when you arrive, then most people need time to think about it. We’re trying to avoid that. We’re not going to operate from fear anymore.
“I’m afraid to send the package. They might not like what’s in there. They might not hire me because they see my thing.”
Listen … it is what it is. The price is what it is … your commission is what it is … and you’re worth it. Send the package, learn how to deal with the customer if they get the package and they don’t want to move forward on the appointment. Learn what to say … talk to your Coach about that.
This is going to be the year you’re going to set yourself up for success by giving the Sellers the answers in advance and sending a really nice package. It’ll set you apart from the competition and it’ll help you get more listings.
Guys and gals … again … this is your year. Don’t let little things get in the way. If you’ve made adjustments in all of these areas … I bet you you can add 6 to 12 transactions to your production this year. That’d be great.
Thanks for watching … we look forward to seeing you soon.
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Mike Ferry is the global leader in real estate coaching and training. Watch Mike each week as he discusses a variety of topics to help real estate agents and brokers. Grow your real estate business by improving your mindset, developing your skills and creating a plan of action to increase your production!