Building a Successful Real Estate Business and Q&A | Tom Ferry | Sales Edge Toronto 2017 Keynote

90% of all entrepreneurs all businesses fail after 10 years right now it doesn't mean that they're making any money the ones that actually stayed in the business but you have now grooved in patterns of how you do what you do for so long a decade plus you're talking about 10,000 plus hours of how you do what you do and some of you need to unwind those patterns how many of you know what I'm talking about say I so so you guys are my favorite because you're you already have a little gray hair you got some experience you've been doing it for 15 years how many of you are female all the females you've raced a husband maybe two right maybe you got some kids maybe you got grandkids I don't know you with me yeah not that you're aware of okay that's good but the bottom line is and like nothing the guys can't be successful but generally speaking the women out produce the men like hands-down right cuz you know you're used to multitasking and it's not that exciting I mean but it's it is impressive and it's a national stat you should know all right so grab your seats really fast how many of you are five years or less in real estate raise your hands five years or less okay stand up five years or less okay so so first of all all my friends that are in the room that we're already standing before this group is still very excited right they're like oh my god this is totally amazing I've been selling real estate for three months this is rad I love it how many of you were like one year or less raise your hands really high like just remain sane but one year or less isn't it exciting okay the failure rate is 87% welcome to real estate but on the flip side and please remain standing some of your name idea anastasiya right beautiful name how long in the business first year so like twelve months okay so less like three days to have a problem answering questions six months so so here's what's great for you and all of us that are being here could you imagine a doctor or an airline pilot or an attorney not getting trained before they did what they did I just imagine that legs anybody in my life anybody ever had a surgery before you mentioned like the doctor like hey I've never done this before but let's go for it like it's gonna be awesome what are we doing brain surgery what you're doing right now is you're creating the habits of real success knowing what to say knowing how to handle objections knowing how to sell yourself know I got to build rapport how to connect with a wide variety of people inside this room this is the perfect place to be learning all those skills so I want to give you and all of you like exactly give all of them just huge round of applause huge huge huge all right now grab your seats so here's the deal though if I was your coach and I today only coach I think like six people one of them is vying for number one agent like on the planet his goal is to do about four and a half billion dollars in sales with his team and he works at a brokerage he does not own his company but you know he wants to do forward you know four and a half billion he'll do this you're just under a billion dollars in sales turn your buddy and say a billion dollars in sales now well what does a vert sales price who cares who cares how many people see Abe and his team a lot a lot right right now we have 27 we want to be at a hundred and twenty people on his team 120 sales agents on his team and he works for coal banker this you know behemoth worldwide brokerage and he's doing it the right way great partnership with his brokerage great partnership his team and he's making an absolute fortune and the best news is he's only been selling real estate for like 12 years and has only been working with us now for like eight years and the first year if you get if you do the math right he started right in the the economic downturn like that's how we got started you with me on this which is exciting right so the first thing I want to say to all of you sitting inside this room is what do you think is gonna happen especially for all my you know like I know there's some peeps from the US so my peeps from the US raise your hands really nice whenever you're out okay so perfect for all my Canadian friends who's from Ottawa okay steady Eddie boring market for 26 years you with me on this congratulations right not a lot of appreciation just deals all the time right kind of you know boring but the problem is when you have a great steady Eddie boring market you don't have many people that say I should sell a thousand homes a year the entire markets in a coma all we have to do is raise the level of service just a little bit and we stand out and we could absolutely dominate but what happens is and I see this around the world it's on a Canadian thing it's not a u.s. thing it's not a Mexico thing it's on a Australian thing or a European thing because we have clients everywhere is it's the tall poppy syndrome do you guys know the tall poppy syndrome right one person starts to rise above everybody else and in certain societies they cut their head off because we want everybody to be the same do you guys know what I'm talking about that doesn't happen in Canada some of the most extraordinary real estate professionals on the planet came from Ontario mid-atlantic right came out of Vancouver came out of Calgary like it's unbelievable so the first thing I want to stress to you is you're not thinking big enough and if you're in Toronto is in like the greater isn't it funny like to say Toronto like because that it's such a huge like Toronto now what is it like eighty nine thousand suburbs of Toronto so who's in Toronto like the GTA right like so the the market has has been supposedly about ready to crash for seventeen years how's that working out right it's like it's going to crash this is it it's over really forty eight more cranes in the sky right and an economy that's bringing in people and creating business an opportunity left and right and and it's hysterical that means like first of all for all the all my US friends like I would wake up every day in two thousand eight nine and ten and go Oh Canada thank you for buying all of our shitty homes right because you go to Florida and it's like we used to call Florida southern New York never call it like basically it's like you know like southern Toronto you with me because you guys bought everything but once again you see all of this stuff happening around the globe and what I don't see enough of is ambition I don't see enough individual saying screw it I'm gonna do something extraordinary and I want to stress to all of you inside this room there's I don't know four or five hundred of you guys here that there is so much opportunity for you to contribute more to do more to help more to sell more to make more whatever your heart's desire that's the beautiful thing about this business what you have to be mindful of is right are you stoking that fire of ambition are you settling because well you don't understand my parents if my parents never made more than thirty thousand dollars a year I'm making eighty it scares them shut up joining mean I don't think our parents gonna get mad at you for making more money if anything they're like good job now give us some so I want you to do me a favor if you're gonna write down some notes I want you to write down in 20 23 years 20 20 in three years I want you to write down what would be the most insane amount of income for you to be making in your real estate business 20 23 years from now what would be the number that like literally Revenue Canada would be calling like yeah good job we're taking half that we're excited keep up the good work totally hey I'm in California it's more like 52% yeah we're trying to compete with you guys and bad schools and no health care it's really exciting so what would be that what would be like that insane dream income right and by the way income is not the appropriate thing let's call it top-line revenue let's talk like business people what's the top line revenue that you want income was like if you have a job right so what do you want how much okay 1 million so really you want 500,000 then you have expenses right and your expenses are parking to be at least a third of that right so now you're talking about having like you know maybe 300 ish you with me is that enough because I want you to be saving at least 20% and I prefer 20 percent of your gross not your after expense net so now with something you got another hundred thousand dollars in the bank and you got a couple of thousand dollars to live on on a million dollars in gross it's not enough can I tell you why because winter is coming you with me and if there's like for all my longtime coaching clients inside the room what have I been saying for the last three years and I'm really happy I have been wrong that winter is coming it's coming save your money Oh ice at last night with so arguably one of the richest men in all of Canada and two weeks ago with a friend of mine who married the 16th richest person in all of Canada and all their conversations right now go like this I'm just stockpiling cash as much cash as I can get Mike I know why I bet I like tell me why they're like because you don't make money buying stuff in this market you make money when it goes like this and whoever has all the cash takes the ride and goes up here see you with me so you have your top-line revenue goal now put down how much money you're gonna save from that how much money you're gonna save from that top-line revenue goal 2020 and I mean savings after taxes after expenses living you know paying off debts whatever you got to do how much money saved start with a minimum of 20% you want more I love it I love it it also depends upon you know where you're at in your life I have some clients or Tom I need to save 30% I need to really buckle down and focus because in a couple years I want to go make sense so do me a favor share with your neighbor right now your top-line revenue goal and your savings goal for 2020 putting out there oh you see as well thank you thank you for being here so John would you write down loving I like that I like that a lot that's good what do you got baby and how much you're gonna save is how much you're gonna write it down hundred grand okay good wanna make sure we do it what do you got three million top line and then how much is gonna save now we're talking now we're talking okay all right so come back to me so here's the deal we're all entrepreneurs in this room yes okay I started my first company at nineteen I've started 17 different companies and I've invested in close to 30 different companies and and with the business that we have today you know the number one coaching and training who be do right so they say the only thing that matters to me is top-line revenue and how much money we save top-line revenue and how much money we save and the the great mistake of the real estate industry is we get too much recognition for top-line revenue what we collectively should be I don't give a if you made a million dollars if you spend a million won to get there you with me on this seriously I mean some of you get that and some of you're like he's talking about me and I'm gonna tell you I was not raised in a household of be frugal and saved your money right how many of you guys know who my dad is you guys know you guys you guys know Brian Buffini right my dad came from an environment of typical entrepreneur you got nothing going on go get a rolls-royce I can't afford a rolls-royce go get her rolls-royce because then you'll earn enough to pay for it and then guess what he did he earned enough to pay for it and then it was the next thing to earn enough to pay for it and then enough to pay for it and guess what all of a sudden all you're doing is working to cover your expenses that sucks it can I be clear with you guys I don't like that you just cursed get over it because that's horrible right or wrong guys like in my mind you want to be like I've got $500,000 in the bank that should be a minimum number for all of you $500,000 cash that should be your goal I only got 30 now good you have 30 awesome get to 500 because at 500 let me tell you right now guys you will sleep better at night you with me you'll lay there in bed you'd be like this like your spouse would be like not even wanting to have sex and they like five hundred thousand okay like right I'm telling you my wife's like money the bank is sexy baby just telling you like I'm married for 24 years I'm telling you it's working it doesn't matter what you gross it's all about at the end of the day how much money do you save and if you're not a discipline saver I was not a discipline saver I define an outsource person they just say hey the check doesn't come to me it goes to the CPA and the CPA pays the bills your CPA should not be your uncle Larry who's kind of good with numbers you with me on this you're a business person you get a good CPA and you're probably to pay that person seven to ten thousand dollars a year but they're gonna organize everything for you pay all your bills and give you a stipend and that's how you should live you with me not oh my god I've got a $20,000 check this is awesome we're going to the Bahamas guys how do most people retire from real estate do you know flat no like this they're like oh I have a listing I want to pitch and they just and they just died right in the office you know like oh my god I wonder leads can I have his desk right like all that stuff happens that's not good you're on I mean so so I mean if I could wave a magic wand beyond just wishing all of you health and vitality in your family's health and vitality it would be that you leave this conference with like I'm going to save twenty percent of every dollar earned for the rest of my life and I'm just stockpile cash and you know what please let's not have a massive monstrous even hiccup recession but if it happens and you're sitting on five hundred thousand bucks you're gonna be really happy you're in this room on this day and you made that decision does that make sense so do me a favor pinky promise your buddy right now look at him and say I'm a lean mean 20% saving machine pinky promise baby pinky promise all right so oh i 30% makes me even happier i love that love it move home with your parents sell more real estate keep all the cash all right so now that's the first thing i would say to you if I was if I was your coach now I'm gonna go a little bit faster because I want to get some Q&A so you ready who has ever watched the tom ferry show ever ever ever ever ever ever ever okay thank you I love you all what if I told you that two weeks ago I called the vice-president of marketing in my business her name is Marnie she's insanely great and I called and I said Marnie I'm thinking about killing a Tom fairy show and she's she literally was like shut the front door and I'm like no I'm serious she's like Tom you're just an entrepreneur you're bored you just want to change things for changing things shut up and do the Tom fairy show and I was like okay well why don't you give me some data that would make me feel better we're a data like we use data to make decisions data-driven consensus based meritocracy like that's how we run our company and so I say what's the data and she said well what if I told you that the average person watches this many shows did we get this many views and that we now have 10 years of data of people watching the shows and then making decisions she goes it's the single greatest thing you ever did and she goes and I know you you weren't even smart enough to know what you were doing when you did it I'm like you're right she goes but you were dumb enough to do it and because of that now we get phone calls from YouTube and Google like hey keep up the good work we're excited you want some help but more importantly guess what happens we get phone calls every day that go like this hi I'd like to sign in for coaching I just watched this this this this this this I like Tom I understand you guys I know what you stand for I know you don't stand for I know what you're all about is he really that goofy like is that in his office where is he shooting these shows like all these funny little questions and then they sign up now you know what that's like that like getting come with me calls does that make sense who would like way more homeless me calls like way more now what's great about it and I know what the vast majority of you will not do video is because you're afraid of the person you're gonna lose what if I say the wrong thing but if they don't like me but if kind of like my style they don't like red hair my glasses are wrong like something like that some BS story right but here's the deal I do video because the ones that call they already like me that makes sense so I don't have to meet with them to discover we don't like each other how many do you get that what if I told you we generate 75 thousand leads a year and the vast majority of them are like yeah i watch like six tom fairy shows and i'm totally interested in electing an appointment and they schedule appointments with us you guys with me on this that's the kind of stuff we want to talk to you about so i want you to write this down your notes ready number one thing for me video first marketing for now on video first marketing for now on I just took a listing I'm about to do it just listed card nope video first standing in front of the house hey it's Tom with banana real estate this is my brand-new listing at the corner of Hama Hama and Nana Nana it's a beautiful three-bedroom two-bath you know bungalow it's got a cute little backyard it's right here in you know city X it's by 14 Starbucks and three Tim Hortons and yadda yadda yadda and it's gonna be on the market the next two weeks if you'd like to know more about it call me at five five five one two one two that's five high five one two one two and if you've got a friend who's been out looking for property and they just can't find anything or worse they find something they fall in love with and by the time they write an offer it's already gone this could be an opportunity to see the property before it hits the market let me know video first turn your buddy it's a video first okay no say it again because they didn't hear you so what does video first mean that that my marketing now is video first then it's run a face back then it's do you know Facebook ad and Instagram then it's doing a Direct Mail postcard then it's doing an email it's video first then everything else makes sense okay now do you guys want to know why you want to know why I'm on YouTube playing golf one day right beginning in 2007 my buddy's like hey man my friends gonna join us he works at Google I was like oh cool I want to talk to that guy I'm like so what do you do he goes I'm in charge of media and content for Google that's like the Wizard of Oz I was like holy like really like that you're in charge of media and content like everything he goes yeah and I was like would you like me to carry your bag do you need a massage here's a cocktail like drive with me and I ditched my buddy and I made him drive with me and like literally I played the longest round of golf in my life and I'm actually a pretty decent golfer but I was like gonna milk every ounce of this so I was like missing shots and I asked him five more questions and then like screwing up and I cask him five more questions and about halfway through the round he's like we're at Google man we want you to win I was like I appreciate that and I said to him hey this is this is 2007 I said I'm about to do a deal with rim or I am right aka blackberry and I said they contacted me they want my podcasts to be exclusive on blackberry for the entire real estate industry and the guy at Google looked me and said podcasts are stupid when the guy at google tells you that everything you've been doing for the last 18 months is stupid what do you do know most you're like okay and just keep doing your doing I was like what do I need to do he's like I just acquired a company called YouTube are you familiar with them I'm like yes I am totally lying my ass off course I am yes yes I'm gonna get on that that tube thing yes okay good right thirty days later I got a flick video camera and I'm doing flip videos still on my youtube channel today you had me on this so here's what I want you to write down this is what I want you to get ready from Google and Cisco - pretty reliable sources 80% of the world's content will be on video by 2019 80% of the world's content the world's content on video by 2019 you with me everything is video first now everything is video first who's on Facebook who can remember saying why would I go on Facebook that's just stupid yeah yeah I got a toaster cuz I got you on right cuz in like 2008 I'm like facebook facebook facebook this is awesome everybody's got to do it people like what why would I tell people I've gone away on vacation they're gonna steal all my stuff you guys remember all those stupid conversations so funny how we all change right so how about this Facebook came out and said 100% of Facebook's content will be video only by 2019 now how many of you like did you watch my last episode of Tom Perry show one 132 so none of you awesome thanks so okay so four of you awesome so here's the deal right if you pay attention Facebook changed their algorithm now about 18 19 months ago where you used to remember like you would like go hey everybody I have a question and you'd get like a ton of answers you do that today and you get like three answers there was a time when you would post a listing which is a link off of Facebook which they don't want you guys with me on this they want me to stay on Facebook you go here's my new listing you get comments and likes and hearts and all this stuff and today you post that you get no comments no likes no views unless you put your credit card in and hit boosts then you're paying to play which is what they want but what happens when you hit the live button on your phone you guys know the live button oh it's live oh is that what it is okay good I'm glad we're on the same page you hit the live button on your phone and you go hey what's up I'm at a tom ferry event over in Toronto networking with 500 of the best agents from all over Canada and we're working on basically two things number one our negotiation skills because at the end of the day I'm being hired to negotiate on behalf of my customers whether it's the buyer that wants the best possible deal or the seller who wants to sell their home in the fastest time for the most money possible so I'm here networking working with all these amazing agents plus I'm finding out what all the best agents are doing in terms of marketing now if you guys think I'm making that up those are the two most important reasons when somebody hires you what they're looking for marketing and negotiations so while you're here should you not hit the live button and let everyone you know know what you just did for the last three days you don't want to say I've been role playing there be like what right but if you say I've been working on my negotiation skills to help my buyers and to help my sellers and I'm working on marketing and I'm finding out what everybody else is doing so I can take it back and serve my clients at a higher level and that's what I'm committed to you you end that video and guess what happens you watch that little barb how many views how many impressions how many comments oh you're in Toronto where oh the Film Fest was going on did you see you're like no we're definitely not actually in Toronto but they say it's Toronto but we all know we're not really in Toronto so do you think do you think Facebook wants you to be on video what do you guys think okay so do me a favor turn to your buddy and say video first look your buddy right in the eye and say Facebook rules the day but let me give you a little side note write this in your notes Instagram which is owned by Facebook has four times the interaction four times hey guys the average person spending 283 minutes a day 283 minutes a day on Instagram that's like four hours that's insane and it's just like this it's like you're like you got two seconds you're like Instagram oh I wish I was that person on vacation right like that's that's what it is well I don't like Instagram and I don't like Facebook well you chose a weird time to be selling real estate because no one cares what you like or what you don't like you got almost two billion people now on Facebook guys almost two billion we only have seven a half billion people on the planet two billion and they're not done you had me on this who knows Ren Ren who's Chinese in the room Ben Ren okay so I was just Joe Shen was just in my office the forty ninth richest person in all of China right just bought a company that I helped create a couple years ago and super cool guy 45 ish years old nerdy is all get up but really get social media and he was showing me Ren Ren Ren Ren was way ahead of Facebook right it's their version of Facebook in China it's ridiculous and it's all video and it's almost all live video and it's not 14 year old girls going this is how I do my makeup right it's attorneys it's everybody okay so turn to your buddy and say what's the most important point what am i stressing here say again I can't hear you okay so that gallon Valastro did not move her lips it on you're wearing glasses I got you I just want to make sure I would have been that teacher in school like one two three eyes on me come on now if you don't know what videos to shoot that's the wrong question if you go watch my episode that just came out on Tuesday I break down an entire marketing calendar and a quarterly calendar of what you should follow how's the market every single week quarterly should a buyer buy in the first quarter in the second quarter what are the three mistakes to avoid five things to do all that kind of it's all there for you but that's the very first thing if you just do that here's what I want you to get you ready build your brand for future clients build your brand for future clients this is what I want build your brand for future clients by doing video you're building your brand for future clients while you're educating your existing base while you're educating your existing base so I'm doing videos today for the you know 283 thousand people that are on my you know email lists that are in my ecosystem but I'm also doing it for the person that's gonna get licensed in real estate four years from now does that make sense so you're doing content today like three reasons why you should never list your home in December when everybody else is promoting why you should list your home in December you should actually say there's six reasons why you should never list your home in December but you should meet with your agent in late November to begin to position your home in January you with me on this well everybody else is trying to get it December you do the opposite and people go yeah that makes sense and they choose you but I'm doing that video today so in seven years someone goes no deprive you like this let us go what's the best time to list your home in the fourth quarter and eat right in front of them your video shows up you would that's what I'm working on so do me a favor to your buddy to say video first okay so do you guys get it okay so tell your buddy what you're gonna do between now and the end of the year video first tell your buddy what are gonna do but what does that mean [Music] video first so I take them listing and I do a video first you with me then I do my Direct Mail then I do all my other stuff video first video before Flyers video before mail video video video video everything ok alright come back up here come back up here alright so number two point you ready Shh number two point number two point over-index on facebook advertising over index over index on facebook advertising over index on Facebook Tom do you own Facebook I own shares but I wish I own the company when that'd be great do you have a solution that sells Facebook ads no I had one I sold the company over index on Facebook we have clients today that are generating seller leads at two and three dollars a lead seller leads for two to three dollars curious about the value of your home Calgary have oil prices impacted the value of your home and it's just a photo of a home sinking into oil that add got clicked on a lot you hit me on this who's in the high-end or luxury or condo market okay white leather couch dark-skinned woman long dark hair wearing an orange top on a white iPhone drinking orange juice curious about the value of your home gets clicked on non-stop but only in the high-end and only in like condo markets right so do that like in Mississauga and no one's gonna click on it yeah you're like okay I'm on that that's good yeah white couch dark-skinned girl long dark hair orange top orange juice white iPhone white leather sofa I'm a little nerdy but guys we spend $100,000 a month on Facebook ads for a while I was helping manage with all of our clients a couple hundred thousand dollars a month when you start to look at the data behind it and I want you to write this down let's be very clear you're only going to convert two to three out of a hundred of the leads you generate but if I can generate hundreds of leads at two to three dollars in convert two to three within average sales price to 500,000 bucks all day long but more importantly what am I also getting all those people when they click on your ad like my facebook business page that begins to grow that creates more credibility with Facebook then I'm doing live video from my Facebook page they're seeing the ad they're seeing the video and all of a sudden they're like she's everywhere I know some of you want to be secret agents but I don't recommend it does that make sense yes question that's good really loud yes live video on Facebook do you share it to Instagram because I know Instagram has her own story so know who live you've got to go native now I will tell you there so so Google tonight live-streaming a multi-channel live streaming boat so now today we'll use a professional like 5000 or crazy camera and with one app I can go YouTube Twitter Instagram Facebook all at the same time and that's Instagram like live Instagram live insta Twitter and direct on YouTube and all of them are lives it's crazy right now the things got to be mindful of if you're on Instagram it's way better to go what up and stuff you with me on this okay because it's native and like Twitter you have to be like kind of fast and efficient right because it's Twitter 140 characters militant right and then on YouTube it could just be anything goes so you want to be like I will do all four but at my best and the stuff that gets the highest response by the way is usually Saturday mornings in my car it's it's bananas Saturday morning in my car with my hat on sweaty coming out of the gym sunglasses on and I just go alright guys I've been thinking about something and I just start talking to people and those just blow up you with me the professional hi I'm Tom ferry that stuff lighting is perfect tanks on Facebook you with me the best stuff on Facebook literally if I went like right now which I'm gonna do in the car and I'm gonna go hey everybody I'm gonna match donations for hurricane Irma so any one of you that clicks a link below and I'll be in the car going to the airport shooting that live today when I do that that'll blow up make sense yeah and it's in the car and half done they're just going dude put your seatbelt on like it's funny all the time so make sense so you look at doing live broadcasts especially if you're going to do a show called this week in real estate or this month in our market how's the market here's what's going on do a live broadcast hit all your channels but everything else you want to do individual okay make sense thank you good question alright next thing I wrote down you guys ready Oh side note how many email addresses do you have how big is your no not your personal email addresses how big is your email database how big is it should you know okay look up here guys I've been in marketing for a long time like I'm like 29 years into this the single greatest driver of business right now to this day is still email marketing and I'm shocked by how many people in this room yet like we're so busy being enamored by the next tool that we forget about the one that's been around for 30 years that is a utility that every single person uses you with me so I would challenge I actually wrote down for all of you guys you need to focus on tripling the size of your email database you need you need to be militant about instead of saying call me and no one does just say email me you with me email me and then you could say hey no problem here's the answer your question by the way I cover a lot of this stuff which like the email and keep you in contact right you got to get permission obviously but I would tell you guys right now you should have seven eight nine ten thousand people on your email list like if you wanna have a really really really good business think big four or five seven eight ten thousand people on your list right we have two hundred eighty three thousand double opt-in like almost no people like opt-out look it's super super super my Newton small cuz we just bring them a ton of value you with me on this and you should be doing the same that's slow side note okay next thing number three right down to team or not to team to team or not the team and I'm just gonna give you guys a little heads up team are not the team who's on a team right now raise your hands really high really high really high really high really high really high oh look about forty percent of the room who is not on a team raise your hands really high really high really high 24/7 seven days a week kind of hard to leverage yourself right or wrong okay so I'm not telling you you need to start a team or that you need to be on a team and that you have to do that I'm telling you that if you're considering it there are four models you need to look at four models so I'm gonna give you the four models you ready model number one is the family business arguably the biggest team model in all of real estate and they usually don't even refer to themselves as a team they're just a family right mom dad kid who went to university living in the basement unable to get a job smoking weed and playing video games you're now my buyer's agent right like here you go right some of you in the room they like a hope that's me yeah and I'm dead serious but you know the trend were actually seeing more of today Doug Edrington just like down and like Talon own italic Nashville or something and so this guy and yet he did he hired both his parents dad was like a car salesman dad get in here dad's now selling 120 homes a year mom was like a secretary for like 500 years mom come to my bookie Doug's like 35 36 running one of the most successful teams on the planet we're actually seeing the reverse now hiring the parents not the parents are in the you know the kids it's fascinating family business there's a lot you can read on it if you google all my stuff you'll see all kinds of content let me just give you the second one you ready the best team right now my mind is this ile team now SEAL team in the u.s. think Navy SEALs and all that means is everybody is cross trained to do every job so my assistant can take listings you with me on this my is a could also take a buyer out and close a deal everybody's cross trained were a small team highly efficient super organized very tight you guys with me on this and it's not about doing a bazillion deals it's about doing it right and really taking care of the client like in the Navy SEALs world it's like you know everybody lives no one dies everybody's happy let's go you bet me the third type of team the luxury team very similar by the way to the Navy SEAL team the difference is they're adding way more marketing support because if you're gonna be in the luxury market the degree of separation always is can you market yourself and your listings more effectively and by the way how do we market what what is our answer to marketing what do we do video first and every luxury agent will tell you it's video video video video video video videos never sell the houses video gets come bless me calls that's what happens they go oh my god I watch like three of your videos almost rock star houses come list our house and do that video the last team though which is arguably one of the big trends right now is the super team the super team we have clients today like a one of our Remax guys over in Minnesota who has like a hundred and twenty agents on his team already yeah and there's only eleven hundred Remax agents in the entire state and one hundred and twenty are in his team and no he's not a broker he is partnered with his broker to put this whole thing together and he's got an office here location their agents here all over their marketplace and it's only about one thing can we build a service support center that enables our salespeople to go be highly productive and take care of our clients at a certain level like that's the game now there's no wrong way to do it but I'm gonna tell you this guy's what you don't want to do in a 20-17 environment with this much opportunity in front of you in terms of finance right is to reinvent the wheel right so go online do your research if you need support you can email us we've got documents and we'll send you here's all the org charts here's how you pay him here's how you train them all that stuff's available we'll give you all that stuff for free the key though is you got to decide if you're gonna do that if you're gonna be a solo independent single agent I call that you need to be the no team team which means you need to get your broker your loan officer all of the supporting functions in your business completely on board with your goals and ambition and you've got to find an agent in your office so when you go on vacation they run the shop for you and if you don't have that you'll just be 24 hours a day seven days a week on that rat reel and it gets kind of old after a while right guys yes by the way when was your last vacation yell it out loud what month did you go okay so what happens what happens every time you go on vacation right the phone rings your stale listing sells your buyers come out of the woodwork so most of you should be thinking I got to book a vacation a month like every single month because you'd sell way more real estate especially if you pay for the tickets non-refundable right then it's like an automatic all right so I just wanted to share that and we're gonna do a bunch of Q&A but I gotta give you guys one tiny little tip you ready write down the website Chris well first of all who's on LinkedIn oh look all of you how many of you are familiar with selling to people's discs personality how many Mayer the disc assessment who knows their disc assessment like a you Heidi hi I see right all that stuff so I have been nerding out for the last 48 hours on a site called crystal knows crystal like C ry s tal and then knows like K and OWS crystal knows so what if I told you a couple nerdy nerds created took the disk formula wrote an AI language pattern that looks at your LinkedIn profile and tells me with 85% accuracy exactly you're dis profile before I call you it's insane right so like I'm like I guys when I flew here yesterday I was just like going through my bazillion contacts on LinkedIn and like okay how well do I know Thomas okay Thomas boom yep okay got it he's high influence but then it says here's what motivates them here's how you communicate to them these are the things that are important this is your pace with them gives you all of that stuff is that a good thing for prospects what do you guys think like before every listening appointment and not not everybody I mean LinkedIn is only like three hundred fifty four million people on it but most professionals that you're talking to that's a really sexy way to bond and connect with them very quickly because you know exactly who they are that makes sense so that's just a little side note bonus nerd out on it I paid the $49 you'll see it's free paid or enterprise you can try free I did it a little bit I'm like mad that's good but the pay's got to be better it's like 49 bucks I'm like this is it's it's like addicting because I'm literally going to every single person I know trying to guess and then look and then oh and then send them an email in the right language and super fun alright I'm a nerd I can't help it alright let's do some questions what's on your mind what are you thinking about coach you got a question over here all right and anything goes and I only have about like 15 minutes and I have to like make a flight or that would be bad with all the discussion about teams yes how does a single agent decide when he or she is ready to start a team I've always been told that until you have enough business that you're so busy you can't handle it yourself you don't start a team but it seems like everybody is either on a team or starting a team are they all superstar agents making you know so much money that they can handle it themselves or is the team just becoming organically created the the trend today is more so the realization that real estate is a team sport and I'm three days in real estate and I need a team like that's more of the trend today it's it's and it's not like a millennial thing because there's a lot of like oh the Millennials they all want to belong to something and hey like whatever they're just humans trying to figure out they were just over babied right right some of you're like what do you mean yeah so so I would I would flip it on you and I would say ambition drives building a team so if my ambition is I don't want to work seven days a week that I want to build a repeatable and scalable business and and I'm a team player I like you know I like team sports I like being surrounded by like-minded fun people when I started my company like literally like I call my wife and I'm like hey baby I'm like we're starting that she's like oh that's great she's like honey I was thinking like we can move one of the cars out of the garage and you guys could like throw some you know desks in there and I was like desks and they that's where the cars go I just hired 11 people and leased like 3000 square feet from the devil she was like what like what you hired eleven like day one eleven people fifty thousand dollars a month payroll let's go you know what that's called motivation so so okay good questions so those teams that were all where the lead we're like the team lead is doing all the lead generation it's actually different today right the old model is I generate all the leads and I dull them out to you and you haphazardly close some of them the new model is I'm going to teach you out of fish we're gonna do it together let's do open houses let's do geographic farming let's handle you know whatever whatever lead sources were working on but we're doing all that stuff together and I'm gonna mature them up into great business people and they're not buyer's agents we all listen sell real estate but what we want is that togetherness on the team and the synergy and the camaraderie and the code training and all of the support the simple answer is 50/50 that's the simple answer but a lot of teams now are going to they keep 60 and they pay out 40 and would it shock you to hear that even in places like high-end Newport Beach Calgary all over the place models working over and over again now it doesn't work for the I sell three homes a year and I want a 95% Commission split it doesn't work for that agent it works the person's like I want to sell 15 18 20 homes a year 30 homes a year and what I want is I want to be a part of something and I want to be able to take time off and know that the business is gonna be taken care of and then I'm not gonna be a slave to it that makes sense so it's just very interesting price is never the issue unless the person's world is price you with me and that person usually doesn't sell a lot of houses that helpful okay cool question I'll repeat this Oh real now thanks coach you build up your database yes female addresses first with not scaring them away right away off the back okay so first of all don't hit them because just metaphorically that just doesn't sound good right like how do I get these emails and start hitting them so the very best way that I would use is Bom Bom so do you guys know Bom Bom okay I'm not an investor I'm pissed that I'm not an investor Conner is one of my closest friends he's the founder of the company and so literally you get that email and you do this hey Sara thank you so much for you know registering on my website it's really great to get to know you sorry sorry okay sorry thank you and I do it I shoot a quick bomb and hey I'd love to be able educate you more and let you know what's going on the market even if you've got five friends in real estate by the way if you're in Toronto you don't have five friends in real estate I'd assume you have no friends so you know let me know and and video boom and what do we love about Bom Bom the second they open the email Bing I get notified they watch the video Bing I get notified and you know so can I put you on the list ask hell yeah now could you do an auto populate it every time so it's not hi Sara it's like hey thank you so much for coming by website it really means a lot to me and I know the real estate space is crowded but we really do things differently we pride ourselves on client success and client experience and we'd love to add your list so please let us know if that's okay and and if it's not no harm no foul we wish you all the best right and they're like no it's cool can you over produce content 1000% right listen in two thousand seven eight nine it was full-on ghetto you with me no microphones I'd be standing in Chicago and I would literally take a flip you guys remember flip video cameras and I put the flip video camera like on the thing and I'd and I had to do it fast cuz I didn't know how to edit and I was the one that was doing it all and I would go hey welcome to another times life I designed your place online Friday isn't right and people would be walking by you know flies would land on me and I would just I would not stop and those videos got watch the most you with me my client from Australia who jumped in the pool after showing a listing that video million views all over his head there was like hi I'm the Aussie rock story too much lighting too much produced sucked oh can you produce too much content no no your clients will let you know but also if you go once a week I'm doing something on YouTube that's going to be emailed out as my weekly email newsletter or my open house coming soon you know you create that marketing calendar as we've done guys if I told you how many emails we sent every every week some of your like we know we know we get your emails right right I mean it's it's bananas and yet we have a very low like unsubscribe and we have a huge open rate like monsterous open rate so the answer is no but you got to ask your clients what's most important you what are your pain points what are your concerns what are your worries you're constantly like did you see the thing I just posted on Facebook couple days ago there's actually yesterday I did a survey like what are your biggest frustrations what are your biggest challenges and all my clients are telling me what I need to cover on the next few Tom fairy shows ask your customers what's important to them and then deliver that that's how you win cool questions talk to me what's going on what you thinking about back row only what's up smiley tonigh I'm Shandi Simpson I'm calling her smiley was perfect like hi hey there yeah that's why I'm here with my business partner Tania Simpson hi who prefers to get me to ask the questions so um we do work on a lot of video but we'd have to admittedly say that we get stuck with overanalyzing yeah and tan you wanted to ask you what an ideal length I want to go on a listing apart with them so what's important to you Tania go ahead in regards to the length of the video what's ideal okay so you do know all the studies that a goldfish has a nine second attention span in a human being has eight heard that that's gotten worse you think it's sexist area so here's the thing you ready if your content sucks people won't watch it if it's good so you guys know who Gary Vaynerchuk is I don't okay so so Gary's friend for ten years we were back and forth early on his stuff and I was like yeah man I'm looking at the numbers like three minutes shows five minutes shows if I go to ten minutes doesn't work and Yuri said to me do 25 minutes show see what happens so I just started testing 25 minutes shows and guess what they blew up they were shared more not every time right but the game is ready some of your stuff I'm stealing one of the lines from the summit ready some of your stuff it's gonna be a donkey it's gonna suck and some of its gonna be a unicorn you with me so I do if I was gonna do a Facebook live I've done one and a half hour of Facebook lives and gotten massive engagement in huge numbers but I was like hey it's the new year new you I emailed my base and said come and be a part of this I'm gonna help you set your goals in the new year so it was huge five hundred thousand views I only have a hundred thirty thousand friends on Facebook that's good right that's impressive right and then I've done stuff that's two minutes long if it's two minutes long and it's Facebook live it's not enough time for people to go Bing Bing Bing Bing and get notified so I found out like five to ten minutes Facebook live unless it's like an interview or something very specific and I'm letting them know if you're interested in this you should watch so you got to test it Twitter keep it short YouTube you can go six seven hours on YouTube you can't that's longevity okay thank you yeah the key is test use Google Analytics okay so good job you used Google so you actually know the data that's that's awesome question I'll repeat it rolled out okay about door knocking yeah like what's the proper way and what's the frequency you should do door knocking are we talking about a geographic farm we're talking about around listings and sales okay just is just souland under farming okay so in it so in a if you guys talked about geographic farming at all here okay so it's probably not because this is not a like all the different market its what to say class right so so geographic farming right now is the number two lead source for the vast majority of our clients around the world and surprise surprise Direct Mail works surprise surprise you with me it's called Chinese water torture here's my mailer here's my mailer here's my mailer here's my mailer here's my mailer here's my mailer then they see an open house sign then they see a Facebook ad then they see a video and here's my mailer here's my mailer here's my mailer right I was just talking to Josh Rubin who is the number one transaction agent all of New York City is my personal client so josh is having his best year ever he's gonna do about seven and a half eight million dollars in commissions but you can't live on in New York City but it's a good start so five and a half year and by the way Josh's disc profile I was like oh my god this is exactly Josh she's totally cynical he needs all the data before I'll ever make a decision that's what the little thing told me so I'm like Josh does this sound like you he's like I'm not sure if that sounds like me I'm have to think about that Mike you do exactly what I'm so with Josh he's in New York City you can't do knock on doors we started with two farms 264 you know two buildings with 264 units first mailer went out gets to come with me calling he goes would you do we do this before Mike just wait next four months no calls you with me but mailing and mailing and mailing today he mails 291 thousand apartments in New York City twice a month twice a month Oh how much does that cost about 480 thousand dollars a year what's his GC i7f eight million is it worth it I mean if you gave me a dollar and I'm like here's 15 back what would you do uh here's 10 here's a thousand and you would you would continue to do it until I was like okay you've taken all my money right well the good news about this it doesn't take all your money so door-knocking is insanely great if you're doing Facebook ads if you're doing open houses in the community because then they connect the dots you with me on this but if all you do is knock on doors around the world this is what they think they're like you're like knock-knock dog and they're like we're not interested we you know whatever you're selling you have Girl Scout cookies okay get out of here like otherwise we don't care but the combination when they start to go oh we see you all the time I got your direct mail piece I got whatever you like whatever you send and I saw your open house oh you sold the property over there I saw you on this website then it makes a lot of sense cuz you go it's like me coming to Toronto you watch the time Farish you know show 35 times and I come and I go hey what's up and it becomes human does that make sense so I say you door knock with everything else cuz it creates that human stickiness cool but you got to do all the other stuff in its video first alright I got time for one more question the nights you'll get on an airplane what's on your mind what you guys thinking you guys got it all figured out oh I'm nervous okay alright what about fizzbuzz and expires what about him how do you guys still calm privates up here like that's how long I've been in like the Toronto market like I was here like in 1989 we called him privates I'm like but like what do I do it about privates I'm like you're working with privates like not my privates I'm married you can obey like dating myself so what about him what about fees suppose an ex next buyer market lecture how listen if you were one of my clients in Europe like Germany as a country 60% of every home is listed for sale by owner right and simultaneously listed by seven or eight different agents all at different prices all with different photos guys it's like I like Europe is the best because if you're a good agent you're like oh my god they all put all these for sale banners on the website and all you have to have is a slight degree of separation if I can show you a way that I could actually sell your home for three times faster but a little bit more a little bit about are your instant yeah right all day long so if you got him here you should absolutely be working him for the most part of the North American market I mean US and Canada it's like seven to ten percent of the market right in New York City it's actually quite high it's almost 11 percent and they're like two and three and four and five million dollar condos it's crazy right in all the smart agents they all work um death so expires if you got him you also could remember like the legalese like Vancouver's different from Toronto right like sometimes you can email sometimes you can't sometimes you can mail and sometimes you can so you got to know your local like your local legislation and all that stuff but if you can go after a man go up from all day long there's not a good agent on the planet that didn't work frizz boughs and experiments at one point in their career yeah absolutely ask question okay okay tell me because we were just meeting so yeah I I'm from I'm you sign up for Montreal so in 2014 I think a palm string Gary we was there right yeah we also first time in like 2008 yeah yeah was charging this yeah yes it was five grand to $75,000 yes exactly good pressure hose it was talking about instagrams coming but now it's snapchat it's wrong market even my auntie or my older people that I know are on snapchat so what can we do to prepare that and and what is your strategy dunno using strategy over Facebook like but know I say all my people on snapchat so what to do dude listen if you're if you if your culture like your peeps your peer group is on now beyond snap but I'm telling you right now like they're not getting the traction the way Instagram did it have suck pulled off buying snapchat we would all be on snapchat even though they're publicly traded I think you should short the company just being like super straight so my sister's on snapchat she's 31 years old all of her friends and every now and then she's a hair stylist so it's all like you know big fake boobs and you know those kind of you know photos so snapchats great for her and for her peer group but if I see it on my god Jesus is my little sister like keep doing so just saying you're not talking about cuz it cuz you know like my kids are on snap cuz they're like hey Dad I could do whatever I wanted snapchat cuz it goes away I'm like no it goes away into the storage and then when I do my interviews we access storage and we're like so you're on MySpace and used to do LSD okay got it like because all that stuff's out there so just be mindful so I over indexed on snapchat right away and then very quickly found that the vast majority the people that I was talking to were not there yet so I may hit it up hard again maybe in 2018 2019 yeah but you know your market if that's there you got to go it's like it's like if you're in Europe and you're not using what's the platform for China uses it Europe use it WeChat right if you're not a WeChat you're dead right so it's just no your marketing yeah cool cool cool all right last question I saw another hand over here and I got a bounce I got you and then sir real loud yes yes yes okay so so first of all that means you have a conversation with your tea so you said so if I'm on a team can I do all these things or it feels like counterintuitive listen the vast majority the teams today will say this the the really progressive thinking teams you're on my team you're on my team you're on my team you're on my team you do a geo farm you do a geo farm you do a we split the costs Co branded two faces two phone numbers but they're both Google numbers so I track everything you just go back to you go back to your team lead and say this is what we should be doing right be progressive think outside of the box man you with me now by the way you were here working on your selling skills yes so you should build rapport first yeah ask a bunch of questions find out what's important to them before you just come and go we should you dreadmill does that make sense makes last question thanks God that what's the number one thing you would do on a daily basis to strengthen your mindset smoke weed I just had to mess with him because he totally looks like he smokes weed I get you do you go to Vancouver two minutes like everywhere it's like everybody's smoking pot around here like wow like that's cool that the number one thing that I do is I follow my morning routine right so so my daily gratitude daily movement daily push-ups like I just do a bunch of things that just make me mentally tough and the difference is I've been doing it for like three decades so when you do something for three decades like I don't have to try and get positive I don't have to try and find energy it's just it's usually like trying to go to sleep it's the opposite so you know do the thing have the power man like do you read do you do video I do an hour a personal professional development every day an hour how much time are you spending think about it like I get up like this morning right I'm in the gym Sandra Pike's like hey and I'm like no no sorry I got my headphones on and I'm watching this week in startups because I'm studying a guy named Chris Sacca who's one of the greatest angel investors ever and I'm doing that while I'm doing my workout every day every day every day every day so it's not one thing right you got to find what makes you your heart saying I like learning right it gets my blood going cuz me fired up gets me like in a great mood right so and once I get into something I obsess on it I study it like crazy so that gets me going sex is good also just getting weed and sex he's like it's all I needed all right good all right okay last last question and I really did what time is it okay okay to go because the planes don't wait for you know real fast hi I'm Tyson brand-new just wondering what your thoughts are about blogs so creating a written written content how you would suggest promoting that and okay answering that because it's what is it first video okay a video blog so so take my model I do the tom ferry show we email it out it goes on YouTube yes but where do I Drive you back to my website because on my website I have all of my calls to action I don't have that on YouTube then this is like we worked for years on this so the YouTube videos embedded in but then you transcribe the video so the whole things in text Google goes ah video and text you have me up in the search and then it goes to Apple SoundCloud so podcast of everything as well so one 15-minute video becomes three different and you know podcasts like five different content plays all at once that's the model great existence you email it out and then what do you do you put it on Facebook you do short form versions on Facebook on Instagram you make it available on Twitter you get your friends to share like oh if you look at what I do it's exactly what I tell my clients to do right I actually did an episode on it's like fifty three four five and six were like and my marking team was pissed what are you doing you're sharing everything we do and now I look around it like some of my competitors and they all did the same stuff but good on now man I don't care I'll keep innovating awesome thank you so tower do this Tyler right Tyson Tyson sorry do the same all right I have to bounce so one last thing really quick before I go did you have fun okay well no no the video first lots of ambition you with me you have your number for 2020 right heads up I want you to achieve that in 2019 because most of you weren't thinking big enough most you were not thinking big enough alright so last thing I wish you and your family health and vitality lots of love have a wonderful finished of the year you should all book between 40 and 60 appointments between now and the end of the year and by doing that guess how your January February March will be unbelievable and while all the other agents are like well you know Thanksgivings coming up and I gotta start clean in the house you're like taking listings and making sales and growing your business and taking advantage of what you did here is that makes sense okay I love you guys thanks for letting me share appreciate it hey thanks so much for watching if you want more of this make sure you subscribe to our channel Kate thanks so much for watching we have a number of events coming up and we'd love to have you there visit tom ferry comm forward slash events and reserve your spot today [Music]

Channel: Tom Ferry

Views: 80,168

Rating: 4.8384881 out of 5

Keywords: tom ferry, real estate, real estate coaching, real estate training, real estate school, real estate marketing, business, entrepreneur, sales edge, canada, building, successful, real estate business, q&a, questions, marketing, video, real estate agent, orlando, florida, success, how to, succeed, realtor, real estate success

Id: lPpYTEHWoXI

Length: 66min 18sec (3978 seconds)

Published: Thu Nov 23 2017