The 18 Advantages of the Current Market (Part 1)

Good morning and welcome to Mike Ferry TV … the week of March 30th. So, we are now pretty deeply involved in a very, very difficult situation … and if you’re a client of The Mike Ferry Organization … we’re sending out a lot of very … what we think are … positive, action-oriented things to do as this particular problem continues … and hopefully it’ll be solved soon and we can all go back to normal.

In the meantime, I have a great list that I’ve put together. Tony Smith is one of our top, top, top Coaches and has been for years and a client for probably 25-30 years. He sent me an interesting email and he said, “Here are the 18 advantages of this market for all of our clients,” and I want to cover number 1 through 9 today of these 18 advantages and then I’ll cover 10 through 18 next week.

It’s interesting because, you know, I try to see everything from a very positive viewpoint because I don’t see any big advantage to being negative when you’re having these kinds of experiences taking place for all of us. Now, we all know that this terrible virus, which has affected a lot of people, caused many, many more deaths than we probably ever thought it could. We never thought it would probably become as bad as it is … but focusing on that and concentrating on that and spending all your time thinking about it isn’t going to solve the problem. Obviously, following the guidelines that everybody is giving us to follow … which is this kind of a message versus face-to-face … and looking at the fact that, you know, we’re not supposed to have meetings for more than groups of 10. Most of your Brokers are doing virtual meetings today, which we think is smart.

Well, what we have to look at is … there’s always some good in every negative situation. I choose to look for the good … some of you don’t like that and some of you have written me some pretty nasty notes that I should be more real regarding the problem. I’m very real regarding the problem because I’ve been through many, many, many, many, many, many, many problems in my 45 years doing this kind of business … but there are some advantages. So, let’s look at the good side.

Here’s advantage number 1 …

  1. 1)  Less competition for you.

Other agents do not have the mindset … the skills … the support … the business plan … the scheduling … the coaching … the systems … the support from a company that you have. Most agents are hibernating because most people, when there is a problem, disappear … so therefore, the competition is less today than it has been in the past. That’s to your advantage.

  • 2)  Your prospecting will be a lot more efficient today.

And that’s something you really have to consider because more people are home and they’re hungry for good advice and having a conversation with somebody intelligent like you and I. The news is not providing us with any positive news … and that’s not what the news is for. So, you can be a positive source of information … and you can make a big change in people’s lives just because of the smile on your face and the attitude you have … obviously the approach, which is open-ended questions while prospecting.

  • 3)  More referrals.

Now is the time that all the great service you’ve provided in the past will come and be recognized and appreciated by your database more than ever. This is the time to get referrals. Remember, no matter how bad things are … people still have to buy … still have to sell. We want you to be the participant in that transaction.

  • 4)  Your database will actually increase in value.

You know, that’s the biggest asset a good, strong, powerful agent has … building a database from 100 to 300 to 500 to 1,000, etc. names that are actively working with you all the time. So, your database has more value … you’ll be able to talk with more people that normally wouldn’t answer the phone … and your contact will leave a much stronger impression that they probably won’t forget. You are going to be the source of good news for a lot of people.

  • 5)  Your skills can … I didn’t say will … can, should and probably will improve.

You finally cannot deny the fact you had the time to role-play and really improve your prospecting presentation skills with purpose and conviction because so many are now working from their homes all the time. So, this is a chance to really improve your skills.

  • 6) You have a chance to strengthen your mindset.

There’s nothing like the mental courage you get knowing you can thrive in this type of a market. More time to read … more time to plan … use positive affirmations for yourself … role-play … practice … be on the phone with your accountability partners … be participating in your mastermind calls … be a source of positivity. That’s the mindset.

Number 7 … and I am not trying to attack, but … the discount agents or the discount Brokers … they’re going to have a much tougher time in this kind of a market … and a lot of them will probably not be here in 6 months … and they’re not going to be able to survive because the services they offer are limited, where the services you’re offering are very high because you can offer more quality service. Now, if you’re a discount agent or Broker, don’t send me a nasty email. I’ve already got enough of those from people like yourselves.

  • 7)  Consider improving the quality of your service to improve your income.

Number 8 … sounds interesting …

  • 8)  You can actually reduce some of the debt that you face today because the interest rates are probably the best we’re ever going to see and they’re going down all the time … and it gives you a chance while you’re working remotely to look at some of the expenses you have that may not be necessary … could reduce your debt.

9)  If you’re interested in expanding your portfolio or investments … boy, what a chance to do something investment-wise because you’ll have a chance to look, to learn, to ask questions … talk to financial advisors … look at some of the Real Estate that is out there that should be purchased and could be purchased by you.

So really, the truth is, there’s a lot of advantages … and next week we’ll go through number 10 through 18.

So, here’s my message for March 30th and this week … work like everything is fine … have the attitude that everything is fine … perform like everything is fine … and things will be better for you than they have been in the past. Remember, no matter what the circumstances are … people still buy and sell Real Estate. We just want you to be the person in the center of those transactions. Have a great week. Talk to you next week.

 

 

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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!

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