Exciting News for MFO – Moving Forward in 2021

And welcome and good morning to Mike Ferry TV the week of February 22nd. OK. Almost two months of the year is down. And of course, we’re thinking that this market we have today is going to be extended for quite a long period of time. As I said, I’m asked every day, OK, what do we expect in 2021? And I am saying to everybody, the 2021 will be an extension of 2020. The difference is we have learned to live with this unfortunate pandemic that we’ve all experienced and we have some good news today. We had an announcement come to us from what is called the Visitor and Convention Bureau for Las Vegas. And that particular organization is a very big part of what happens in our city and our town. I don’t think there’s many people probably in North America today that haven’t either thought of visiting Las Vegas or been to Las Vegas for personal pleasure or for meetings and conventions, because, you know, along with New Orleans and San Francisco and Chicago and New York and Dallas, San Diego, Las Vegas is one of the biggest convention cities in the world. And of course, what the visitor and convention bureau sent us really caught us a little off guard and very, very excited for all of us, including all of our customers.

The governor has announced … our governor, who has been very cautious and very conservative, to protect any visitors that do come to town and to protect the citizens of the state, has now announced a timeline for what he calls Nevada’s reopening safe reopening, which began February 15th and will go through May 1st. He stated that the goal is to reignite the Las Vegas convention business. And boy, that I mean, I couldn’t express to you the smile on my staff’s faces when we were told this is the case. I mean, it’s a big deal. Now, we know, of course, you know, that this pandemic has its ups and downs and it’s had some goods and bads. And of course, the terrible part, of course, is the sickness and death that has resulted from this pandemic. But I think he’s saying that he feels that it is now a safe time to reopen. This means for Las Vegas that live in-person events will be permitted once again, although we do not know yet to the exact extent that we can do. For example, in the first couple of days of May, we’re organizing a two day live management retreat and we haven’t had one for two years because the last one was in May of 2019. So it’s an exciting thought.

Now, let me express to you. We wouldn’t have any interest in doing it if we didn’t feel that it was safe to do it. We wouldn’t expose ourselves and our staff to an environment that wouldn’t be safe.

Sabrina and I have been in and out of the casinos over the course of the last few months, and quite honestly, they are fanatically protective of their staff and all the guests that come in. So we wouldn’t be doing it if we didn’t think it was safe. So the governor thinks it’s safe and we believe in the governor with this announcement. MFO is now operating under the assumption that our 2021 Superstar Retreat will be a live event, which is exciting. Now, it may only be a thousand people.

Ok, maybe it’s two thousand. We don’t know that number at that event. They will be socially spaced as has to be and will probably have to be still requiring the masks that we wear, which is something Sabrina and I do anyway all the time. We’re going to begin selling tickets now and continue to follow the capacity guideline, you know, as they’re announced. You know, we’re hoping that that number right now, five hundred to a thousand seems realistic. Two thousand is, I think, very realistic. The question is, how much space do we need where we used to have? Forty-five hundred. Can we put two thousand? So the ticket pricing for the retreat this year is $395 per ticket. And I want to share something very important with you on that thought. It’s $195 for our One on One coaching clients and for all of our elite members, our premier coaching clients, of course there’s no charge. We’re also going to have a virtual event taking place at the same time. $195 to buy a ticket to the retreat for the virtual retreat. $95 for coaching clients, elite members. So the one thing we’ve learned from 2020 and I think all of us have learned a lot, both positive and negative, is that things can change very quickly.

Therefore, to give you the confidence to buy a ticket to our retreat. Now we’re going to create a separate trust account, which we’re establishing with our CFO, as I’m talking to you right now. And the difference between the live ticket $395 and a virtual ticket, $195, is going to be placed in a trust account under your name. So anybody that has the confidence to buy a ticket to our retreat, we’re going to put half the money in a trust account with your name on it. And if for any reason whatsoever that the governor changes his mind or the convention bureau changes our thoughts, or we go back to mostly virtual events, that difference of about two hundred dollars will be refunded to you with no questions asked. And it’ll be refunded in most cases within 48 hours, because we’re going to be very upfront that we’re going to put half the money away just to protect you. Now, we also know that we might sell twenty five hundred tickets and be limited to fifteen hundred. And then we’re going to do a drawing, OK, to see which people get to win and the balance will be refunded, etc..

So we’re excited about the fact that we’re going to have a very successful, very safe live event at the Superstar Retreat and hopefully the bonus day will be the first day on Monday again, along with the managed retreat in May, which we’re organizing as I am speaking to you, to get that set up, the brokers and managers have all been saying we need a management retreat. We did it last year, virtual. We had something, like just under three hundred people attending. But I think on a live event, if we get two hundred great brokers in the room and if your broker is going to be part of that, we’re excited. So the message today is very different. It’s an exciting message for us to know that this pandemic, at least in the eyes of our governor and our visitor and convention bureau and the casino convention centers are saying we’re making steps in the right direction for a live event. I’m not sure if it’s going to remain that way, but we’re sure very confident, based on what we’re being told, that we’ll be able to have a great live event and we want you to be part of that.

So here’s the other part of the message.

It’s OK to work hard every day and list property, even though this quote and unquote shortage is driving people in Real Estate a little crazy, it’s not a Real Estate shortage. It’s a fact. We have the best market we’ve seen since 2005, 2006. We’re going to change the mindset away from, oh, my gosh, there’s no place for the buyers to buy to the fact that anything that is listed is a commission check almost immediately. So our job individually should be doing whatever it takes to find a listing. Why? Because most agents are absolutely not qualified, do not know how, and don’t have the capabilities to go out and find a listing.

And you have that skill set, OK, you have that ability, but you have to exercise that ability. “Well, Mike, I have to talk to more people to get a listing.” Good. Talk to more people. Because, see, representing a buyer today, which is a wonderful experience and helping a buyer find a house is not a guaranteed commission check. And almost anything we list today within reason is a guaranteed commission check. Let’s see how many listings we can take this last part of February and in the month of March. We’re here to support you to make it happen. Take advantage of the support, watch Mike Ferry TV, get involved in my Monday motivation, download the scripts, participate, practice, use the scripts and you’re going to win. And then we’ll get to see you live in July. Thanks for today. Have a great week.

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