Stretching Your Goals – Quantity Versus Quality

Welcome. Good morning to Mike Ferry TV. It is the week of Monday, March 8th, so we set a goal for our coaching clients and the month of February. We asked each one to work hard to take a minimum of four active, good, solid listings. I don’t have the numbers yet. I’ll have them the next week or so as to what percentage did take four. But from what the coaches are telling me, it was quite high. So then I decided for the month of March to stretch everybody a little bit and we set a goal for everybody to take six listings. I got a little bit of negative feedback because some of the people that are not as strong yet at taking listings as they want to become are saying, I can hardly get three, much less six. Well, you know, a big part of life is the discipline we have. A big part of life is stretching what we can do. So I just wanted to mention that it is OK for you to take a lot more listings and think about it this way; You know, and I keep saying the same thing. I’ve been saying it all of last year and really starting in June of 2019, it’s only a small percentage of the people in real Real Estate today. And we want you to be part of that percentage that understand the value of taking listings.

And I know that the competition for them is strong and they’re challenging. But I want you to think about the other side. In representing a buyer today, the amount of people you’re competing against is ninety five percent of the Board of Realtors. And if you’re competing for listings, you’re competing with maybe five percent. So even though these five percent are usually pretty good agents, like a lot of you, you have a better chance working on listings than working on trying to get a buyer into a property, getting an offer, and then the hard part is getting accepted. One of the questions that came up last week, and it was a fun question, I apologize, I should be able to tell you who said it. I don’t recall, but it was an agent from Coldwell Banker. And he said, How long have you been doing Mike Ferry TV and why do you continue? And I wrote back the answer is, I don’t know how long it’s been. I will tell you this. When I started, I had dark hair. So that’s how long ago has been. I think I started Mike Ferry TV probably, I’m just trying to think, we have been in Las Vegas with our headquarters, I think now for ten years. I started at three or four years before that, so probably fifteen, seventeen, eighteen years.

And the reason why I continue at number one is if you’re prospecting for buyers and sellers, you’re going to use multiple platforms or multiple methods of prospecting in most cases, if you want your business to keep growing. And if you want your business to keep growing, you can’t rely on one source, whether it be a database or calling on Expireds or just knocking on doors, because if you rely on one source, you’re limiting your opportunities. So between email campaigns and the marketing campaigns and all the different sources on social media and the Mike Ferry TV and our entire sales team, we use every source we can and we touch different people with each source. We have a pretty steady and pretty large following for Mike Ferry TV and we’re going to continue that as long as I’m standing upright and can share ideas with you. Allen Dalton was one of the fellows that I have really got to know pretty well and probably well, no, actually real well. Allen and I have been friends for probably twenty five years. And one of the things I admired about Allen was what I admired about Mike Vänskä, Gunther Klaus, Earl Nightingale was the ability to use words continuously that can affect how we think and make a difference.

So on today’s message, I wrote down four words quantity, quality, negative and positive.

And as I’m almost always going to do, I’ll go right to Webster’s Dictionary because even though I think I know what the word, for example, quantity means, I want to check the dictionary. So today’s message is not going to be long, but it’s going to be about those going forward. So I first looked up the word quantity and the fun part.

I’m going to be honest, it kept saying no definition, no definition.

Well, then I realized I couldn’t spell the word quantity the way it’s spelled. So therefore I did get a definition. And it actually says it’s a very generic term used when referring to measure a number of items. People, situations or things, OK. Quantity. And I’ve been talking about quantity a lot almost all my career, you know, make X number of contacts a day. If your goal, for example, is to do twenty five transactions a year, the first question I would ask you is how many of those come from your database, past client centers of influence; for example, you’ll say to me out of my twenty five, I think 10 will come from my database. Well, then I will say to you then you have to create 15.

So what methods will you use to create 15? Are you going to call For Sale By Owner? Are you going to call around Just Listed, Just Sold? Are you going to make cold calls? Are you going to buy leads off the Internet? What is the methodology? What is the quantity that you’re going to use for prospecting techniques and the quantity of contacts you’ll make per day? Because quantity and quality always make a difference. So quantity. I wrote on, for example, how many appointments are you going to go ahead and look for in the month of March? How many appointments… Or then I wrote down is one totally different, how many apples are in a barrel? Those are referring to quantity. How many contacts does it take to get you a listing appointment? These are quantity types of things to look at. So don’t be a person that thinks by talking to one or two people a day, you’re going to do a higher level of productivity because the odds are against you because of quantity. But then, of course, I always say, is it more important to have quantity or quality? So I looked up the word quality, the level of excellence that is given or preferred by individuals that you’re working with – The level of excellence. OK, now I wrote, for example, people say that quality, OK, quality of one’s life is determined by their health or education on their income. That’s what the dictionary said. I’m not always going to agree with what the dictionary says, but watch, quality of life: What does that mean? Quality of your business? What does that mean? You know what? What is the level of excellence in terms of the customer service you give other people? What is the response you get not only in quantity by making, say, 10 calls a day, but the quality of the conversation. Are you using scripts that can make a difference, are you using scripts and dialogs that engage the people and get them involved with you?

So I guess the answer would be when people say to me, which is more important, quantity or quality, I go a mixture of both. I could knock on one hundred doors and if I walk up and they’re not home and I just leave a door hanger, am I really being effective? Or if they do answer the door, ‘Hi, do you want to sell your home?’ Well, you’re doing one hundred doors, which will probably get you a lead. But if you had a better quality script, could you get more? The third word, of course, I worked on the word negative in life because, you know, there’s a lot of people that we meet in life that are certainly not positive. But my belief is either we’re positive or negative. We can’t be a neutral when it comes to our attitude. And so I looked up the word negative: Thinking of the bad qualities of someone or thinking a bad result will happen. Isn’t that interesting? Thinking of the bad qualities of someone or thinking a bad result will happen. So I wrote, for example, prospecting doesn’t work.

That’s a negative belief or attitude, and if repeated, it becomes part of who we are. OK, or I don’t like the scripts of Mike Ferry wants me to use. All right. So my attitude then is what is that going to do to help you become a better agent? So negative. Then I wrote down the word positive and I wrote down positive: thinking of the good qualities of someone or thinking of the good results that will happen. I’m very positive that I can get this listing this evening.

I’m very positive that if I make the number of contacts I need to make his day, that I’m going to achieve the goals I’ve set. So I wrote for example, I know I can take six listings in the month of March. I’m very positive based on my work ethic, my schedule, my discipline, you know, my enthusiasm, my energy or calling my database is going to increase my production. And the truth is, if we can get you to call your database, it’s going to increase your production. So are you a quantity person or a quality person or are you really doing both or are you a negative person or a positive person? And I wrote down the key question.

You decide, because the choices really are all ours in these areas, I think last week I mentioned to you that we’ve been told now by our governor of the state of Nevada that we can have a live Superstar Retreat in July. We’re not sure of how many people yet. I mean, we know it’s going to be more than a couple hundred. We’re not sure if it’s going to be five hundred a thousand, fifteen hundred. You know, obviously, we would like to see the most people possible because we haven’t done any live events. And our first live event of consequence will be May 3rd and 4th.

What we’re doing, which is going to be allowed in Las Vegas, is a two hundred person Management Retreat East – socially spaced, of course. So if you want to know more about the Superstar Retreat, talk to our sales team, go online. But think about this. The quality of what you do is often based on the quality of what you learn; and if you’re looking for positive information to improve the quality of what you do, hopefully Mike Ferry TV and the things that we do to assist you work in your favor. Quantity, quality, negative, positive, in every case, the choice is one hundred percent ours. Thank you for watching. We’ll look forward to talking to you next week. Have a great week. Think five, six, seven listings. It can be done, it is being done every day. Why not you? Thank you.