skills: Mike Ferry - "Upgrade ... Upgrade ... Upgrade" - 11/22/13 05:10 PM
Upgrade … upgrade … upgrade … has been my theme throughout the calendar year 2013 and will remain my theme as we enter 2014. The difference between the haves and the have-nots in Real Estate is becoming the widest that it’s ever been and growing by the day. By this, I mean, the gap between people that know how to list and sell Real Estate and the huge number that don’t seem to have any idea … is widening. Why is this taking place? There is probably a dozen reasons, but one of the most common things that I can see … (3 comments)

skills: Mike Ferry Discusses Cutting Commissions - 11/15/13 03:57 PM
In the Real Estate market, the most common way to be competitive is to… cut commission. We all saw a bad market for several years and the most common way to compete in a bad market is to cut commissions because desperation becomes a major factor. I’m being asked almost every day by our clients… “How do I compete with agents cutting their commissions?” In some cases you cannot compete… but in 75% of the cases, not only can you compete, but you can win the commission rate you would like to charge.  Think about securing the best commission for yourself … (2 comments)

skills: Mike Ferry Asks - Do you want a Predictable and Duplicatable Business? - 10/25/13 01:38 PM
Again … do you want a predictable, duplicatable, production-oriented and profitable sales system … or do you just want the hype and excitement that most people offer you every day? I have to tell you, I’ve been through enough seminars to know the hype and excitement is really fun and really makes you feel good. However, I’ve always wondered how “feeling good” adds production to your bottom line and profit to your bank account. Somebody said to me last week … “Mike, it’s so hard. The work is hard and I’m tired!” I responded with, “Everybody gets tired whether they are … (0 comments)

skills: Mike Ferry Discusses The Importance of Being Well Educated - 10/11/13 04:49 PM
We’re doing our East Coast Superstar Retreat this next week in Miami Beach, FL. We have several thousand great agents attending and here’s what I want you to think about regarding this message I’m delivering to you now. The Real Estate industry is one of the most over-educated, yet under-educated industries of any and all sales industries. By that, I mean, there are a tremendous number of good programs being put on at all times … seminars, retreats, workshops, etc. and the attendance at these (for all of the speakers) is considered very low. WHY? The answer lies within 3 that … (2 comments)

skills: Mike Ferry - "They Just Don't Want to Deal with Reality" - 08/22/13 09:50 AM
One of our top agents in the Los Angeles area received a cold call from Google during the last couple of days. The Google sales representative asked our client to buy their internet marketing package. Our customer said, "I do not believe in that type of business operation, as I know a better way to generate business." The Google rep then asked our client how she does it. Here’s what our client said to me ...
 
"I told her that I simply did what she just did ... I call people and ask for business. I told her this is what … (1 comments)

skills: Mike Ferry ... "The Gap is Growing" - 08/02/13 04:25 PM
The gap is growing and widening by the day between those Real Estate agents who are producing reasonably high numbers and the vast majority that are doing between nothing and a little less. Why??? Because the majority of these agents simply do not know how to list property. Why??? We didn’t have to know how to list property because Mr. REO (who has retired) furnished all the listings we could ever need and all we had to do then was take out the buyers we had … give them one of many choices … and they bought a home.
 
(3 comments)

skills: Mike Ferry Asks ... "Is Selling Real Estate That Complicated?" - 07/26/13 03:10 PM
It seems that most people, whether they are brokers, agents or trainers … say the answer is YES. My belief is exactly the opposite of that. “Selling Real Estate is not complicated, as long as you understand that we are in the people business … communication business … and have to know how to sell.”
 
If we, as an industry, ever get real about this business … and if we, as an industry, ever set standards that require Real Estate “salespeople” to actually understand the sales process … our industry would be deemed a lot more professional and a … (4 comments)

skills: Mike Ferry Asks ... "Are you REALLY a Good Listing Agent?" - 07/12/13 05:59 PM
Everybody says they are, until we get down to the moment of truth where we carefully look at our production, which is the name of the game. If you think about it for a minute … if you’re listing less than 70% of the appointments you go on, you’re probably not quite as good as you think you are, or you thought you were.
In today’s market, we know that listings have incredible value to the agent, or as I’ve said time and time again … “It’s almost a guaranteed commission check within 60 days.” A great listing agent is … (1 comments)

skills: Mike Ferry - "Jetsons vs. Flintstones" - 07/05/13 01:04 PM
Recently, I have been called the “900 pound gorilla” … “the voice of the past” … and the “Flintstones”. On this one, the speaker stood up and said his company is the “Jetsons” of coaching (the future of the Real Estate industry) and that The Mike Ferry Organization is the “Flintstones” … or the prehistoric model that nobody is interested in.
 
I guess I’ve been called worse after doing this for 38 and a half years. Here’s a thought for you. Why has NAR recognized me as one of the “5 most influential people in this industry”? Why do a … (4 comments)

skills: Mike Ferry - "Getting Rich Quick" - 06/21/13 01:36 PM
This past week, an agent approached me and said he would like me to join him in a lawsuit against an individual. My first question was, “Why are you suing this person?” His response was, “I paid him $5000 up front and he promised to set up listing appointments for me and when they closed I would pay him a referral fee.”
 
He said he never received any appointments and the company will not return his phone calls or his letters requesting a refund. He felt that this company was not honest and basically stole his money.
 
I said, … (0 comments)

skills: Mike Ferry - "Who's The Boss?" - 06/14/13 05:15 PM
I ask people every day why they pick Real Estate as a career. The three most common answers I get are … “I want to be my own boss” … “I want more freedom in my life” … “I want to have my own schedule, not somebody else’s.” I hear these every day and, believe me when I tell you, these are three of the biggest reasons why Real Estate people fail. If your goal is to succeed, which I believe it is, and our goal is to assist you in that process … you have to knock those three thoughts … (2 comments)

skills: Mike Ferry Asks ... "Who is really number one?" - 06/07/13 05:01 PM
Ego versus your bank account … during the last several weeks, specifically in the month of May, I did thirty 3-hour seminars to different groups in 17 days. During June, I will do twenty-six 3-hour seminars in 15 days to a wide variety of great brokerage companies that are customers of my firm. Almost every day, somebody tells me that they are number one … they are the top agent … or that their company is number one.
 
My question, of course, is … great, I’m glad you’re number one … are you making any profit or income based … (1 comments)

skills: Mike Ferry - Here's One of The Best Ever - 05/24/13 04:15 PM
I had a very interesting conversation yesterday with a lady who called me and said that she is dropping out of our program and going with one of our competitors. The first thing I said was, “Thanks for letting us know,” and then I asked the proverbial question … “Why?” She said there were two reasons she was doing this … first, the company she was going with told her that she doesn’t have to do the prospecting that we ask her to do. They’re not asking her to use the scripts we teach, they told her she doesn’t have to … (3 comments)

skills: Mike Ferry - "I REALLY DON’T UNDERSTAND THIS ONE" - 05/17/13 12:18 PM
As the market heats up (and in most parts of North America it has) things keep changing in a positive manner … and yet a lot of things remain the same. The agents that are good are doing better than ever, and the agents that aren’t any good are complaining more than ever. If you’re good, you’ve got to be happy with this market and if you’re not any good … get good.
Here’s what I don’t understand … we’re fortunate enough as an organization to work with agents from almost every major Real Estate franchise company. Re/Max … Century 21 … (1 comments)

skills: Mike Ferry - "It's 2013 ... What I STILL Don't Understand" PART FOUR - 05/10/13 03:36 PM
I was invited to speak to a group of 30 independent Brokers several years ago. About an hour before I was to start, I was called by the leader of the group and was told that they had changed their minds and decided not to have me speak. I said, “Fine. Please send the check for my speaking fee and expenses up to my room.” The man said, “Well, we’re not going to pay you if you’re not going to speak,” to which I said, “We have a signed contract and I am here in New Orleans, so therefore, you are … (5 comments)

skills: Mike Ferry - "It's 2013 ... What I STILL Don't Understand" PART THREE - 05/03/13 05:23 PM
"The training in Real Estate is designed for the stupid, the dumb, and the ignorant."
Boy, did I get in a lot of trouble for that statement ... which was actually made to 4,000 people at a convention in New York in 1986. The people that hired me were furious and banned me from ever speaking again at one of their conventions. What I don't understand is that the 4,000 people I was speaking to for 4 hours gave me a 5 minute standing ovation. How do you get a standing ovation that lasts 5 minutes in front of 4,000 people … (4 comments)

skills: Mike Ferry - "It's 2013 ... What I STILL Don't Understand" PART TWO - 04/26/13 12:37 PM
Everybody tells me that the answer to all Real Estate problems revolve around social media. "If you're not involved in social media at a high level, you're not in tune with the market ... not in tune with business today ... and you're never going to grow or succeed." That comes from my competition.
WHAT I DON'T UNDERSTAND IS WHY PEOPLE ACTUALLY BELIEVE THIS. Let me give you a couple of examples ...
In the last 12 months, we've averaged over 10,000 people a week watching MikeFerryTV through the web ... we've had 1,743,441 total visitors to MikeFerry.com ... I have … (4 comments)

skills: Mike Ferry - "It's 2013 ... What I STILL Don't Understand" PART ONE - 04/17/13 03:19 PM
We all have competitors and most of our competitors all operate with different belief systems on how to do business. If you’re a Real Estate agent, you have competitors who will simply tell a seller anything they have to tell them to convince the seller to list with them versus you. “Oh yes, Mr. Seller, I can get you $475,000 for your home. I know my competition is telling you $395,000 … but I can get you more than what they said.” Or, they will simply cut their commission and undercut you, which is of course, devaluing the very service that … (6 comments)

skills: Mike Ferry Asks ... "Do You Really Believe You Can Do This?" - 03/29/13 03:53 PM
I had a very interesting and long conversation with a potential client this past week. He didn’t call so much asking for advice … he called asking me to approve what his plans were for becoming a 50+ deal a year producer. I asked him what methods he was using for creating business now, which would allow him to do 50+ transactions in the next 12 months. His answer was very interesting, as he told me that he really didn’t like talking to his Past Clients and had very little communication with them. He wasn’t one of those types of agents … (2 comments)

skills: Mike Ferry Asks ... "Are You Worthy of a Large Income?" - 03/22/13 05:14 PM
Probably sounds like a dumb question, but the truth is, it's a very important question. The majority of most people have very strong preconceived beliefs as to what they feel they are worth, in terms of income. These beliefs come from our family upbringing ... our education ... our religious training ... what we have fed into our minds over the years ... who we hang out with presently ... and your entire background prior to this moment. What I've discovered is that it takes a tremendous amount of work on an individual's part to get a clear picture in their … (3 comments)