How to Generate more Business with Prospecting

Welcome to Mike Ferry TV. My name is Tony Smith, Vice President of The Mike Ferry Organization, and this is the week of July, Twenty sixth. Welcome to Mike Ferry TV. Listen, I want to share a few thoughts with you that came back to me. We just had our Superstar Retreat this last week and it was an incredible experience. We had 2,600 agents all come alive, excited, full of energy. It was great to see people getting back together. Are you fully back? Are you fully back to your office working all the time? Are you fully back participating in all the things you need to participate in, things you can participate in? I hope you are. But during this time, it brought back a series of thoughts about generating business. And I’m wondering, have you decided clearly how much business you want to generate between now and the end of the year? You know, it’s still up to you. You still get to choose how much business you would like to generate. Is there a better chance of you generating more business if you decide how much or if you decide as much as you can? The truth is, you’ve got to get specific and set a goal. If you don’t have a goal, set one immediately. But when it comes to prospecting and it comes to generating business, there’s a little series of thoughts that I’ve held on to for a long time.

I think it’s time to share these with you again. All right. The first thought I wrote down, there’s three ways to find business. There’s three ways. You can wait for it. You can buy it.. B U Y; you can buy it or you can go earn it every day. Question for you so far this year, how much of the business that you’ve brought in have you waited for? Are you buying it? And how much are you actually going out and earning it every day? Right, now we know that there are some things that you consider that you do wait for some business. You know, if you’ve got a database and someone calls in and says, I’d like you to sell my home because we’ve worked together in the past, it’s kind of waiting for business in a way, isn’t it? If you have a sign in a yard and someone calls and they decide they want to buy that home, it’s waiting for that sign call. Right. You have to really recognize, though, we recommend that 70 to 80 percent of the business you get, you actually go out and find it versus waiting for it and buy it. Where do you stand today? Towards the end of July. I also wrote down; you’ve heard this before. Knowledge equals confidence and ignorance equals fear.

Knowledge equals confidence and ignorance equals fear. When it comes to prospecting, if you know what to say in every selling situation, you’re a lot more confident if you don’t know what to say in selling situations, there’s a lot more fear. So, if you want to generate business on a regular basis, do you have to increase your knowledge? Yes, right. If you don’t know what the market stats are saying, there’s fear. If you know exactly what’s going on with the market stats, there’s no fear. So where do you stand and where do you need to gain a lot more knowledge in the industry of that we’ve chosen in the craft of prospecting? Do you need to gain some more knowledge somewhere? Market stats, scripts and dialogs, the Listing Presentation process. Where do you need more knowledge of the craft that you’ve chosen? I wrote down like this, you must be held accountable. If you want to become a great generator all the time, at some point you have to stop fighting with your desire to not be held accountable. Stop fighting with the fact that we all need to be held accountable. You take the best prospectors in the Mike Ferry system, and they will all tell you what they do currently and what they used to do in the past to get themselves accountable to making their calls and generating new business. Where are you being held accountable right now? Do you specifically have aggressive accountability set up for yourself? I hope so if you don’t

can you expect to prospect consistently for the rest of this year? Probably not. Right. And it’s the fighting part. Why is the health and fitness industry a multibillion dollar a year industry? We all have a decent idea, I would think, of some things we could do to stay healthy, stay in shape, right. What to eat, how to work out all those things. But the health and fitness industry is a multibillion dollar industry because we need to be held accountable. Right. We know what to do, but we need someone to hold us to it. Have you got your accountability set to go through the rest of the year? I made another point. Point four, I wrote down, Energy and enthusiasm trumps being perfect. Trumps better than. If you had to pick. Right. I need to be a perfect at my scripts. I need to be a perfect prospect, or I need to have a perfect presentation. Many, many, many people are holding back, they’re waiting, waiting, waiting until their perfect. Energy and enthusiasm trumps being perfect. We all know that only a small portion of communication comes from the actual words we use. The majority of communication comes from our energy and enthusiasm. Right now how would you grade yourself? What rating would you give on yourself in your energy and enthusiasm? You can generate and manufacture energy and enthusiasm at will if you want to.

But if you want to become a great lead generator and you want to make a lot of money, you’ve got to learn how to generate energy, enthusiasm, even if you don’t have it naturally, most people don’t. OK, you know, you really have to think about what are the fears I have when I’m prospecting, for example, of exuding a lot of energy? What fears do I have? Are you afraid that the people around you would hear you prospecting? Are you afraid that they would go, whoa, that person’s different? Is there really much fear of being very energetic and very enthusiastic? There shouldn’t be. You have to consider what fears you might have. I made a note, being one source minded is a recipe for disaster. If you want to become a great lead generator, and you only have one source… Right in the Mike Ferry system, we have a report online that shows every possible way to find a listing. I think there’s sixty-two sources in there. If you only have one source, if you’re only calling Just Listed Just Sold or you’re only calling your database or you’re only calling Expireds or you’re only calling FSBO’s, if you’re only calling one source, it’s a recipe for disaster. Mike says we need to have four to six sources at all times.

So, between now and the end of the year, what additional sources of business do you need to put in play for yourself? You’ve got to decide if you don’t decide, and you’re just focused on, well, I get a lot of business from my past clients Center of Influence. Good for you. But if you added a source, how much more business could you do? You want to be great between now and the end of the year you need to consider your sources again. I also made a note, you’ve got to track your numbers. If you want to be a great lead generator and you want to generate a lot of business between now and the end of the year, you’ve got to track your numbers. You’ve got to track everything you do, because that’s the only way that you’re going to know if it’s working or not. You’ve got to track your hours and your contacts and your appointments and your listings take it. You may have to track what time you show up and start prospecting every day. You’ve got to keep track of a lot of things if you want to become a great lead generator. I wrote down, Motivation is the engine that drives prospecting. Motivation, your motive to action, motivation, your reason to do something has got to be strong enough to drive prospecting, right?

You know, you really have to consider that wanting to take a listing is oftentimes not nearly enough motivation to do it. Do you have some really exciting goals for yourself that you would like to achieve between now and the end of the year? Do you have some things you want to do, places you want to go, things that you want to have? If you aren’t constantly working on improving your motivation by exploring the things you’d like to achieve. I wrote down, how about if you keep track of small wins all the time? One way to stay motivated is to recognize the wins that you have. Are you keeping a little journal of all the wins? If you’re keeping track of the wins you have, it helps you stay motivated. I wrote down, do you have small rewards? Small rewards, some people won’t create small little rewards to do their job, but they’ll take long term punishment, right? They’ll they won’t make the money they want for a long, long time because they won’t give themselves some small rewards. Do you want to stay motivated? Give yourself some small rewards. If you hit milestones, if you want to be a good prospector. Right. Motivation can often come from from you really taking a close look at the family structure, your kids, if you have kids. Right. Take a look at what you promised them. Motivation can come from exposure.

If you’re exposed to a lot of people doing a lot of business, then you suddenly feel like I can do that. What motivates you? What are the goals that you have set for yourself? Do you have some goals? You need to set some really aggressive goals at this point in the year if you want to push yourself through an incredible lead generation time. I wrote down Mastering a great presentation is the starting point of being a good prospector. Many people want to go generate listing appointments. They really want to go generate listing appointments. And they spent all this time looking at how can I generate listing appointments I need to generate? And they spend hardly any time on working on their presentation. But what we know is if you work on your Listing Presentation a lot and you really become good, at a good, solid canned presentation, then when you’re prospecting, you start hearing more opportunities. Well, yeah, thanks for calling, but I’ve already got an agent. Opportunity, if you know how to present. It’s an incredible opportunity, right? Well, you know, I’m thinking about selling, but I’m only going to list with somebody at our crazy discounted commission. Opportunity. If you know how to present and handle that, it’s not a problem. So how much time have you spent working on your Listing Presentation this year? Have you dedicated a lot of time to improving the quality of it? If you want to become a good lead generator and get more listings, you need to spend more time at it for sure.

And then the last point I wrote down, if you want to generate leads consistently for a long period of time and you want to make a lot of money, you need to link prospecting to the money and the goals that you have. You need to link prospecting, you need to connect the fact that this prospecting you’re doing, this lead generation you’re doing, connect that to the money and the goals you have. You know, there was one game that I used to play for many, many years when it came to this linking. Right. I used to divide my contacts up into three different categories. So let’s say you were going to make 20 contacts a day. Well, let’s say it’s twenty one to make it round, divide it by three. So there’s three sets of seven in twenty one. My mind I would take my mind, OK, the first seven contacts I make is to satisfy my personal life, my home expenses, the house payment, the car payment, all those things. Right. The second set of seven contacts was designed to accomplish my business goals, pay for the business, things that I wanted to do in the business. And then the third set of contacts was designed for all the dreams and goals and things that you have in that dream book of yours.

Right. So what most agents do is they do just enough lead generation, if any, to pay for their household expense. And that’s where it stops. Right. But then if you think, OK, I’m going to dedicate the first hour of prospecting to my household expenses, the second hour of prospecting is dedicated to growing my business and the third hour of prospecting for that dream board, all the big stuff that you want. It was just a fun way to link up the prospecting that you’re doing with the goals that you have. And it’s a fun thing you could possibly do. So here’s what I’d like to expect. I’d love to see everybody watching this today set some new goals of production between now and the end of the year. Get your knowledge up so your confidence is up, right? Create some great accountability to do the job between now and the end of the year. Let’s start following through on some of these things so you two can generate a lot of listing leads and a lot of opportunities for yourself as we move in through this second half of twenty twenty one. I hope this helps a little bit. Just some thoughts about being a good prospector. Thanks for spending some time with me today on Mike Ferry TV.