What Are You Doing To Finish The Year Strong?
October, November and December we have to get to work. We have to make things happen, as I said a couple weeks ago, if you have not been strong, you have four months to be strong. If you’ve been strong, don’t quit. Let’s keep it going.
The Mike Ferry Sales System
So what we’re looking at each week is the Mike Ferry sales system, the back half, the side that most people don’t get involved in or technically, for all of you that are watching this, is the half we discuss with our coaching clients more and more. The first half is taught through our seminars, prospecting, lead follow-up, etc.
The back half things like Customer Service, hiring an assistant, working with buyers are done more with our coaching clients. I’m trying to share with you what we do with our coaching clients so you become better at working in these areas.
So, the next step in the Mike Ferry sales system (you’re going to love this one), practicing scripts and developing skills. Now, I want you to think for a minute. A seller or buyer is excited to have an agent that has a high level of skills. And they’re not depressed if you don’t have them, they just don’t speak to you again and then buy from someone else. So, it’s our skill level that determines the level of success were going to achieve. High level of skill, high level of success.
Get all of my scripts by clicking the following link:
We’re going to look at this concept of practicing scripts and developing skills. Let me go through some important points with you:
How To Ask Good Questions And Listen To The Answers
1. There are many, many important skills in selling. Two of the most critical skills in selling are asking good questions and listening carefully to the answers. All of the MFO scripts that we’re working with you on are in the form of questions. How much time do you spend practicing? How good you are at both of these skills? You should be role-playing and practicing 30-45 minutes a day.
You take a different script; a FSBO script, prequalifying script, closing script, whatever the script is you need to work on and you stand in front of a mirror and practice and role-play and practice and role-play. You want to embed these in your subconscious mind.
You’re always going to have your scripts in your hand, you’ll always have them handy, you won’t get lost, but if you don’t have them embedded in your mind you’re going to get screwed up. You’re going to make mistakes and when you make those mistakes, they lose confidence and buy from someone else.
Practice, Practice, Practice
2. If you’re going to practice and developing skills, your practice will revolve around two very important issues. First, the amount of time you’re willing to spend daily to embed the scripts and skills into your wonderful brain. How much time are you willing to commit? Did you ever play any type of sport? Volleyball, swimming, baseball, tennis, any sports? Did you have to practice? I already know what your answer is, you practiced all the time. High school and college you were limited because of education.
If you watch the professionals: golf, tennis, football, baseball, basketball, they practice 8-10 hours a day in between games. Their life is practice. Some of you will say, “You don’t know who I am. I’m doing 40 deals a year. I got this thing down.” Well, I’ll bet you I can name several hundred people who can outperform you because they out-practice you. Second thought, the level of intensity you’re going to put into your practice which embeds everything a little faster in your wonderful brain is the name of the game.
Are you practicing with intensity? Okay, let’s role-play, “so when do you plan on moving?” Everybody likes that question. “And how long have you lived there?” No, no. It’s not how long have you lived there, it’s “how long have you lived at this address?” It’s “where did you folks move from.” See, you practice with the intensity as if you were actually working with a buyer or seller.
“Poor practice, no matter how much you do, it does not improve your performance.”
3. You have to get clear on the fact that the quality of the practice determines the quality of your performance. We’ve been told the story about a wonderful professional singer starting on the Las Vegas strip being paid tens of millions of dollars, where she had to leave with her entire troop and practice 12-18 months to get ready for the next big performance.
I read an article about Mick Jagger and the Rolling Stones, they decided to go on a tour. They spent 6 months every day practicing. These guys have been together over 40-50 years, I don’t think there is any song that you couldn’t wake them up from and they couldn’t sing. They spent 6 months practicing, getting into the shape they had to be in to do the performance.
Do Not Give Up Practice – Dedicate Time For It Daily
4. If you believe that having a schedule that includes activities like prospecting, lead follow-up is important to your productivity, wouldn’t you believe that practice time is what it takes to get these two activities to work well? Shouldn’t practice be part of your schedule? Of course it should, and if you think about it, what do we give up first? The practice.
“Well Mike, how many times do I have to practice the script?” Well how many times do you think a professional golfer hits a wedge? A professional punter in football punts the ball? A receiver in football catches a ball? A tennis player playing professionally serves the ball? They’re spending all their life practicing.
Are You Sensing A Theme Here? Practice.
5. A lot of you have great skills, we know that which results in a great performance and a great income. We have to remember there is always somebody bigger, better, faster, stronger, smarter who earns more money, which means there’s always room for improvement in the production that you have and that improvement comes from the practice.
Okay, it’s kind of fun because at our superstar retreat in august we have four of our Coaches role-playing on the stage and they were role-playing some of the objections and the answers and they practiced and practiced and practiced and when they were all done on Saturday, I talked to them and they said they wish they would have practiced more. You can’t over practice.
Do Not ‘Wing It’ – Practice And Role Play Your Presentations
6. Always remember that as the showing process extends over days and weeks, without practice you’re going to lose them every single time. You have to go ahead and understand that you can’t spend three hours on a listing presentation because then you’re winging it. You can’t spend five days showing property because you’re winging it. The practice cuts down the length of time you play the game with the prospect you’re talking to.
Are You Ready To Go Pro?
I’m excited and hoping that all of you understand the value of practice. Non-professional salespeople in real estate do not practice. Professionals practice. So, are you an amateur or a professional? One of the two is going to take place and you’re going to be one or the other every time, and that commitment is up to you. Commit to practice, commit to perfection, and commit to production and income, which brings you the profits you want.
If you’ve done your job well, because you’re a professional, and now you have to present an offer to your seller, read this from Ron Cronin on 7 ways to get your offer accepted.
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Watch and listen to Mike Ferry each week, as he discusses a variety of topics to help real estate agents and brokers grow their real estate business by focusing on improving their mindset, developing their skills and creating a plan of action to increase their production. Hundreds of thousands of real estate professionals have attended Mike Ferry events over the last 43 years of coaching and training real estate professionals in countries around the world. There is no question, The Mike Ferry Organization is the global leader in real estate coaching and training.