Blog
Questions from Mike Ferry’s Production Retreat – Part 2
Last week I found several hundred great questions attendees submitted from our Production Retreat in late January in Las Vegas. I had put them in a briefcase, I put the briefcase in one part of my office and I misplaced them, at least mentally. Until I found them again recently, and now I'm reviewing the questions with you … last week, this week and for the next couple of weeks. These are great questions submitted by the audience … So I'm going to continue with these. 1. I'm a new Real Estate Agent and I'm out working every day and I'm going on presentations. Oftentimes the Sellers lack confidence I can get their home sold because I'm a new agent. Aside...
Questions from Mike Ferry’s Production Retreat – Part 1
I have a confession to make … to all the wonderful people who attended the Production Retreat about six weeks ago in Las Vegas … We collected several hundred questions the audience prepared for me. I put them in one of my three briefcases, put it next to my desk … and forgot to look at it. So this morning I pulled out that briefcase looking for something else, and I found the questions. For the next couple of weeks, I'm going to be answering some of the more common questions I think apply to almost everybody in Real Estate today. I’ll answer six questions today, six questions next week, six questions the following week, and then six more. Hopefully,...
The Key to Get More Customers and Create More Closings
For a majority of agents and companies, the first two months of 2019 have been very slow. There are a hundred good reasons why, but none of them are valid because there are also tons of agents who’ve had their best start in history during that same time. So we’ve got to get back on track to working hard again. When I started doing seminars, which now has been almost 44 years, I used to start every seminar by putting up three letters on the whiteboard: P, P and C. The first P, of course, stands for Prospect, finding people who have an interest in doing business with you for buying and selling real estate ... a vital part of any sales...
Price Reduction Strategies
You have to understand that when you're asking for a price reduction, you're creating a hostile environment not only for yourself, but for the seller as well. Sellers aren't going to be excited ... they're not sitting around saying, "Honey, I hope the agent calls us regarding a price reduction this week." The very phone call in which you bring up the idea of coming by to talk about price creates resentment … a little stress … a little fear … “What's going to happen next?” “Is it ever going to sell?” These are all normal. Last week, we discussed using price reductions when necessary. This week we're going to go over some price reduction strategies. Agents Create Expireds Yes, we take listings that...
Avoiding Overpriced Listings
We're going to have a couple of weeks on a topic we all hate to hear about ... sellers hate it more than you do, but it's necessary: the concept of price reductions, and getting your inventory listing sold. The Three Market Phases We're always going to be involved in one of three phases of a market. Either the market is climbing, flat or declining ... those are the only three options we have. Today, nationwide, we're involved in a declining market. Depending on where you are, it can be a little bit ... 5 to 8 percent. Up to some parts of the country ... 20, 22 percent less transactions this year versus last year. We saw in most parts of...
The Power of Presentation
You've heard me say time and again on Mike Ferry TV: selling real estate is relatively simple, it's just not easy. There's a person who says they want to buy a house. There's a person who says they want to sell a house. Our job is to get in the center of that... to be the conduit that brings buyers and sellers together. It's not complicated, it's very simple... but it's not easy because it requires that we learn a lot of different steps to make that happen. The Key to Success Several years ago I was invited to a national convention where there were 7000 - 8000 people in the audience. I was honored to be the keynote speaker, and talk...
10 Characteristics of Successful Agents – Part 3
We've talked the last two weeks about what I call the "characteristics" or "mindsets" of the millionaire agents. We are so lucky as a company to have attracted so many people that make over a million dollars a year. Many of our coaching competitors have people that make a million dollars a year or more, but those are people selling 3, 5, 7, 10 million dollar homes. Our client base are regular people that sell regular homes. We have agents who sell the high end homes, but 98 percent of our agents just sell average sales price properties. To make a million dollars a year, you gotta to do a lot of deals... our specialty is in helping an agent do...
10 Characteristics of Successful Agents – Part 2
Last week we covered the first ten thoughts I had on the millionaire real estate agents, and we're going to cover 11 to 20 today. Before we start, I want to share with you—last week was really a fun week. We had just under 2000 attend our Production Retreat in Las Vegas. We were very lucky, because I had 86 of the 94 millionaires in the room. I had about 30 of them up on the stage at different times sharing ideas and thoughts. If you were there, thank you for being there. It was an incredible experience. You can stream it live if you want. Go to my website, www.mikeferry.com and look for the streaming portion of what we...