Mike Ferry’s Key Points for a Successful 2021

welcome back good morning to mike ferry tv the week of december 21st big holidays in front of us we hope that you're safe and healthy and you have a good time and it's enjoyable for you and your family what i want to do today is i want to share two thoughts first thought is the fact that i i get emails on a somewhat regular basis you know once or twice a month from individuals and i think many times it's simply my competition sending the emails saying that what i teach needs to be updated because it's too old-fashioned and i i always reply to those by saying interesting words in quotes old-fashioned i will have to admit to you that i am old that's part of life's process but i've also said time and again that what i do is very fashionable meaning that anybody that uses the skills and techniques we teach is going to have a very fashionable or very productive business the hardest part about real estate is trying to convince good people like yourselves that there is a foundation to anything that you do that has to be strengthened the foundation of real estate are the skills that you use the thoughts that you carry the thoughts that you articulate every day in your s in your business not only to yourself but to your clients so what i want to say to all my wonderful friends out there that think i'm old-fashioned first of all i'm still working every day doing the job i have to do are you doing the same are you working every day doing the job you're supposed to do it because if you're doing the job you're supposed to do it's never going to be old-fashioned what i want to do today is go through a series of thoughts um it's going to be probably a little longer than our normal 12 to 13 minutes series of thoughts that i think if you take and apply them as random as they may sound they're going to help you build your business in the calendar year 2021. um the first thought i've been talking about adversity for 45 years so thought number one is this start every day when the new year begins for you at zero meaning when you wake up in the morning each day in 2021 i want you to have the belief that first you can accomplish the goals that you've set which you can do but second i want you to not live on past performances from calendar year 2020. for most agents 2020 was strong productive and very strong income producing year now if you're one of the agents that did not have a good year this is a good time to start and how do you start you erase the past you start at zero every day when you get up in the morning you have to say to yourself i have no prospects i have no leads i have no listings i have no sales i have no escrows have no pendings i have no money in the bank and in some cases that is going to be quite easy because all of those apply to some agents so the hardest part about real estate is looking at the fact that if you list a home that sells if you make a buyer controlled sales you're gonna make five seven twelve fifteen thousand dollars for each sale that you make well that's a lot of money and it's hard many times to not be complacent when you get two or three paychecks in the course of a month for example the work you do now is going to pay you in january and february so let's say that you have a couple of your listings sell they're going to close around january 15th average commission check 8 000 per transaction you're going to get 16 000 sometimes it's hard to stay motivated and to stay enthused well that's where you get into the mindset that you start every day at xero to get your level of energy and enthusiasm to where it belongs so you can go out and do your job the second thought i wrote down for us to make sure the next year is a great year keep your goals and the rewards of those goals in front of you at all times there's nothing better than visualizations there's nothing better than affirmations there's nothing better than a strong business plan with specific goals you've set for yourself for what you want to accomplish and what you want to do but you got to keep that plan in front of you you get to keep that plan on your desk in your briefcase keep it handy because as you've heard me say a business plan is a working document something that you're going to be writing on adjusting changing upgrading in some cases downgrading but if you keep the goals in front of you per earl nightingale's great message the odds of you accomplishing something great are dramatically enhanced the third thought i wrote down i want to read it to you raise your level of enthusiasm to a minimum of eight on a scale from one to ten every day you know it's so interesting to me that so many people in real estate say that enthusiasm is not necessary well enthusiasm is what attracts people to you enthusiasm is what glues people to what you're trying to accomplish think about this you're sitting in your home with your spouse and you're talking to an agent who is very drab i guess is the best word unenthusiastic very boring the message may be good but the delivery is really almost awful well then you think about a second agent comes in who's excited about the opportunity enthusiastic they're they can't wait to tell their story even if their story is not as good as the first agent the enthusiasm of an agent displays is often the difference maker between getting a contract signed and not getting a contract signed now i know that some of you by nature are very enthusiastic it's just who you are but some of you have to pretend a little bit you know you have to say to yourself listen when i walk into that house i'm excited about the opportunity i'm excited about the people i'm going to talk to i'm excited about the property and i want to demonstrate that it's called raising your levels of enthusiasm the fourth point and i i mentioned this earlier but i want to really emphasize it to you if you really want to make 2021 a great year you've got to completely forget your past unless it was very positive and very strong because it limits how you think as the year starts to progress you know we can't live on past performances what we've done has been done the awards that you've received are awards that you received e.d that means it's finished and done the checks that you received have been deposited and in most cases probably already spent so we many times want to sit back and reminisce and reminiscing is fun it's enjoyable especially when it's positive but in real estate the path in front of you is the path that you have to stay on and you have to keep progressing through so if you forget your past you can stay on the path you're after if you're focusing on the past you're not moving forward so i'm going to say that no matter what kind of a year you had in 2020 i don't care if it was the best year of your life or the worst let's erase that board and let's create the future of our business which starts tomorrow and then again picks up on january the 4th the next thought i wrote down remind yourself daily that the market conditions have no effect on you and what you do you've heard me say that time and again over the last couple years it's interesting how many people live based on market conditions and the truth is we can't control the market we can control what we do we can control what we think we can control where we go but we can't control that invisible thing called a real estate market now what we do know for a fact is that in calendar year 2021 there's going to probably be 5 million plus real estate transactions take place well there's two sides to each transaction that's 10 million commission checks that will be distributed to great people like yourself how many of those would you like to have and see if you focus on interest rates changing a little bit or a deal falling apart or maybe in your community the market has slowed down or there's not enough inventory if you focus on that you you really miss the big picture that you're trying to accomplish and do i wrote down the next thought during 2021 allow yourself the luxury of doing more business in one month than you've ever done before so let's think about that okay what's the most listings you've ever taken at one month what is the most listing sold in buyer controlled sales you've ever had in one month okay why don't you think about the fact that you want to surpass those numbers sometime in the first six months of 2021. january february march april may june when do you want to have the best and most productive month of your entire career that you ever thought was possible see it's being done every day by somebody there's agents every day sending us notes and emails and texts i've had a record-setting month to which we say congratulations but my question for you is this why do you sit back and think that can only happen to somebody else and it can't happen to you it can happen to you there's no question about it next thought i wrote down take the best month of the last 12. so let's take here we are in december of 2020. let's go back to december of 2019 and think about how much our world has changed starting in march of this this year i mean it's it's a whole different world we're playing in today we'll take the best month of the of the last 12. probably wasn't in march or april for most agents but june july august september october november december the market's been really phenomenal in most of north america so take your best month of the last 12. and make that your minimum standard for all of 2021 so let's say that in june of this past year you took four listings you had four listings sell and two buyer controlled sales which should be a great month from any standard well let's make that the minimum standard what what do we have to do scheduler-wise what numbers do we have to understand what skills do we have to improve to make june of 2020 the minimum standard going forward through 2021. think about the amount of production you could do if you create a minimum standard that is higher than what you've had in the past see this business is a roller coaster ride for almost every agent you've heard me say in the past real estate does not have cash flow like other businesses might have real estate has cash spurts you go flat for 30 60 days no commission checks bang you have three closings in one month you're rich and famous and then you have to recreate those well let's create a higher standard for you to operate from so you can enjoy the experience that much more i wrote down next and this is probably one of the hardest ones as you enter 2021 exercise blind faith in everything you do exercise blind faith that you're going to achieve the goals you've set because you're going to achieve the goals you've set exercise blind faith that you can take the number of listings that you want to take exercise blind faith that the things you're learning and applying through the mic fairy organization work because they do work you know it's like anything else if you have to go through the unfortunate experience of having a surgery done blind faith says you're going to say to yourself as you fall asleep on the table you're going to wake up a healthier better person than you were before you get on a commercial plane you have blind faith that the pilot wants to land at the airport just like you want to land at the airport and i always kid about the fact that when you hear a flight attendant say in case of a water landing and i go wait a minute let's land at the airport not the lake well blind faith says we're going to assume everything is going to work the way we had planned it then i wrote down next if you don't have three or four strong accountability partners start looking for them and let's get that system set up and created before january the 4th accountability partners could be your spouse it could be your broker manager it could be agents in the office it could be agents that you know through the mike ferry system that you've been involved in but you got to find people to hold you accountable because accountability is the difference maker between yes i'm having a good year and yes i'm going to have the best year of my life accountability in real estate is very rare but it's also critically important to each of us to have more accountability and then i wrote once a month and this is a fun one this one really came to me there's a big group of agents down in south florida and they get together every monday and they have what they call money monday and susan heller is a great client of ours and a great agent and she's been part of this for years and they they really do think about how do they maximize their production through prospecting so she's the one that gave me the idea years and years ago that once a month have one expired listing blitz day spend the whole day calling every expired every three month old expired six month expired many of them may have already listed and sold who cares call as many expireds as you can just do it one day a month then i put down one day a month have a for sale by owner day and you might want to stretch your territory a little beyond what your original territory is to find the buy owners in column you know you want you want to obviously work with companies like falcon 7 to get access to the expireds and for sale by owners once a month if you have listings do a price reduction day in the market we're in today if your listings are not selling it is going to be 98 price about 2 location and condition so if you have three or four listings they're not selling as fast as you want one day a month work on price reduction then one day a month have what we call an ultimate prospecting day where you virtue put your headset on you stand up you have your computer on and whether you're doing just listed just sold past clients centers of influence you're just going to make as many calls as you can possibly make in one day if you do this kind of thinking you're going to have an explosion of business take place in your life it's going to happen you can't stop it from happening next on the list and this is such a fun one accept this fact during the next 12 months 2021 you'll be doing a lot of things that will make you very uncomfortable but that will make you much more productive because being uncomfortable is part of the process of learning being uncomfortable is part of the process of growing being uncomfortable is part of the process of getting from where you are today to the goals you've set for calendar year 2021. the next point and this is very basic and fundamental work every day on mastering and perfecting your basic business skills now the basic business skills in real estate are efficient prospecting that's the most basic skill efficient prospecting quality and quantity not just quantity the quality of who you call okay for example calling your database is better quality than knocking on a cold door contacting people around your listings and sales is better quality than just cold calling through a neighborhood so talk to a lot of people but do it with the highest level of quality including what you say how you say it that represents quality but the second thing in terms of basics is mastering effective lead follow-up folks you've got lead cards they're they're not any good to you unless you're talking to them all the time call all of your leads third is to work on becoming a better presenter whether it be a listing presentation which is critically important of course or showing property to a buyer folks people buy not only because of what is said but they by by because of how you say it so you have to work on the skill of presenting hi do you want to sell your home or hi when do you plan on moving so the words you use the energy you have the enthusiasm you would display creates a better response and then the fourth skill is the negotiation of contracts because that's when you take and you bring two parties together so prospecting lead follow-up presenting and of course negotiating are vitally important in 2021 to improve your business and then of course i wrote this one which is always a fun one to bring up to improve my business in 2021 i must remove my ego and use the scripts that are offered every day quit winging it quit thinking that maybe if you just change the script a little bit you'll get a better response the scripts are proven they've been around for 45 years i used them for years prior to bringing them out to all the public in my seminars and workshops so they've been around for what almost 50 years now the scripts certain fundamentals always work and it's so much fun to have agents call me all the time mike i've made a few adjustments to your listing presentation i wanted you to know okay you why did you feel the need to tell me that you're making adjustments to the presentation well i wanted you to know okay great how are they working well i'm getting four out of every 10. would you like to get seven out of every 10 contracts signed follow the scripts we give you but then i always ask this question when they tell me they have new scripts that are better than mine are a lot of people downloading your scripts from the internet every month i didn't think so follow the scripts okay i wrote down next i must know and understand and use my numbers to build my business see the business revolves around numbers you can't deny the selling is a numbers game you can't deny the selling real estate is a numbers game but mike i prospected for two hours last week one day and i didn't get any leads okay how many people did you talk to i talked to about 15 people and not one of them want to sell their home how do you know number 16 which you didn't call could have been the one that wants to sell how do you know it couldn't be number 18 see i'm a great believer in numbers if you talk to enough people somebody's going to say yes i love this expression that i was taught when i was probably 19 years old the only no no that counts in selling is the last one before you quit and then that word no becomes a very big part of your life and your business play the game of numbers how many people are you talking to how many presentations are you making are you talking to enough people to make enough presentations to achieve the goals you've set we're here to help in 2021 let us know how we can help we'll be talking to you again on january i believe it's january 5th so we're going to have a little break in these messages enjoy your holiday be safe be healthy have fun and make sure that you keep working on the days you're supposed to be working we'll see you the first part of january thanks for today

Channel: The Mike Ferry Organization

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Length: 21min 11sec (1271 seconds)

Published: Mon Jan 04 2021