- Are you looking for more listings with zero budget?
This is your show.
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Hey, welcome to the Tom Ferry Show.
Today I'm answering your questions ranging from no budget,
how do I get listings,
how do I get out of a rut or out of my head,
how do I leverage?
And Tom, what is the magic bullet?
Well I can tell you guys.
You know I thrive on answering your questions,
whether it's here at TomFerry.com or YouTube or Facebook.
Today I'm going deep with a whole bunch of great questions.
Let's jump right in.
Heath Thomas asked, "Hey Tom, what's the best way to build
"a listing pipeline on sweat equity?"
Heath, I love the question because
it really helps everybody out there.
Now remember if you're in Europe it's gonna be different,
if you're in Mexico it's gonna be different,
maybe even parts of North America,
Canada, and the U.S., Australia, etc.
So Heath, I'm assuming these four are right for you.
Number one, you want to focus your marketing
and prospecting efforts around recent sales.
We know that when one home sells usually
two more sell right away,
especially if that home had multiple offers.
Even if it wasn't your transaction,
you can piggyback on the momentum of the market
(knocks)
by knocking on their door and saying,
I know you know the Jones' house sold.
Did you hear it had five offers, that means four offers
are crying right now and you got one new neighbor.
So I want to talk to you about those four,
have you had any thoughts of selling?
You know, using that kind of very direct
marketing approach is gonna cause you to win.
Over the phone is great, face to face always better.
Number two, I wrote down obviously for sale by owners.
Getting into the marketplace, knocking on their doors,
making phone calls,
scheduling a chance to preview their home.
And then you know what at the end of the day
you can go back and look at the archives of content
that I've created around this,
campaigns that our clients have used so successfully,
here's all it comes down to.
There's ten people you talk to,
three are actually interested in hiring a real estate agent.
We know the numbers from Fizber,
it's around 61 days of being on the market
before they finally say forget it, this isn't working.
So going after the fastest source of business opportunity,
cost you no money, you just gotta have the skills.
Number three of course, expired listings.
There is a shocking number of expired listings
so far this year, why?
Because the sellers know it's a seller's market
and what are they doing?
They're over pricing properties,
giving you an opportunity to repackage
and reposition those properties,
and ultimately get them on their way.
So if that's not in your marketing plan,
you need to add it in.
And then the last one I wrote down of course,
make sure you're bringing value to your database.
One of the things that I'm recommending to people is
what a wonderful idea now to go back
and do what we were doing in 2010, 11, and 12.
Where you actually create a little three to four minute CMA
on every person inside your database.
Imagine this, you're gonna send three to four CMAs a day
in the mail, with a note.
Write "Dear Richard", "Dear June."
"I was thinking about you the other day
"and I thought you would love to see the stats,
"the actual value of your home.
"Please take the time to review it."
And of course you can add a photo,
you can use Google to map it, you can make it special,
you can make it unique, and at the end of the day,
what are you doing?
You're bringing your clients value.
Whether they're past clients or they're sphere
or they're leads, we know that the vast majority of people
do not know the real value of their home.
And as we've heard from Steve Harney
and so many other economists,
that if we can be the knowledge broker
and we can educate those customers,
you're gonna get a percentage of them (claps)
that are ready to go.
So those would be my four things Heath.
Let me know in the comments below
which ones you decide to do and for everybody watching,
what are the three or four that you think
Heath should do as well?
All right, let's go to Lynn Fitzgerald.
Lynn asked, "Hey Tom, I'm dealing with some anxiety
"and getting back on track."
She said, "You know when some things are just off
"in my personal life how do you stay focused?
"You know, what are your tricks,
"what are your habits, what do you do?"
Now what's interesting is, I look at this question
and it's not unlike a really long time
amazing client of mine, Christophe Choo,
who said, Tom what do you do when
you're feeling discouraged?
You know, you take the big listing
and the deal falls apart or it doesn't sell.
Lynn and Christophe are asking the same question.
The answer is, I don't get frustrated anymore.
I don't get disappointed, what I do now and then is
I get upset and I get pissed off.
Do you want to know why?
Because when I get that anger going,
and I don't mean like running around and stomping
and why did this happen to me?
I mean gosh darn it, what are we gonna learn from this?
What was the mistake we made?
Where did we go wrong?
What are we gonna do better?
Come on team, let's go!
I get pissed off and it gets me right back into action.
So I don't give myself time to wallow anymore.
You know what, nobody cares.
So Lynn you know me, you know where my heart is,
no one cares, get over it.
Christophe, move forward.
Do you want to know how I solve it?
I get pissed and I get into action.
I get pissed and then I get into action.
And the more action I take, the faster that stuff goes away.
Be clear my friends, if you're ever in a rut,
if you're ever feeling depressed,
you also physically (groans) have to do it.
So why don't you move your body in a powerful way,
pick up the phone, call five past clients,
call one of your current listings who loves you,
call your most recent sale and check in.
You do this and you know what happens?
You remind yourself, I'm Christophe Choo, let's go!
I'm Lynn Fitzgerald, let's get back into action
and boom, it's game on.
Now, pretty easy to say that, right?
Pretty easy to say it?
It takes conditioning, you got to remind yourself.
You got to say to your three, four,
or five friends inside the office.
You got to give them permission to call you out on it.
Hey, if you see me being Eeyore,
you know Winnie the Pooh, things aren't that great.
I want you to walk up and smack me in the head.
See if you create the people around you,
you give them permission to hold you accountable
to the standards I know that you have for yourself.
You know what, they're gonna do it for you
and you'll do the same when they need it as well
and that's what it's about.
So that's my advice.
Let's keep going.
Great question here, Peggy Bouchard right,
amazing agent said, Tom.
You know she's a top producer she wants more.
She said, "What's one thing that you would suggest
"that a high producing agent needs to do to get more?"
And of course she just said more of everything.
Well Peggy the bottom line, and you know this,
is it comes down to leverage.
It's leverage!
So Peggy, what do we have to do?
You have to get a list and say, what are all the things
I do that have massive value?
That are impossible for me to replace?
Now, Peggy you and I both know that only comes down to
you following up with leads, you going on appointments,
you negotiating, and perhaps you overseeing the marketing.
Not doing the marketing but overseeing the marketing
and writing the strategy for your business.
Everything else can be outsourced or delegated.
How do you take your business to the next level?
You stop doing the $10 an hour work.
You stop doing the things you always did,
when your production was lower,
that now gobbles up so much of your time.
I can't name the name but I've got an amazing client,
who is such a rockstar, who said to me one time
but Tom you don't understand,
I always go on every first showing and here's why.
And I said to her, you know that made a lot of sense
when you had five listings
but now that you have almost 30 with no lockboxes,
all you're doing all day long is showing these listings
which means you're not getting any
and you go rich, less, rich, less.
So I said to her, what if you just let go of it?
What if we hired somebody that was a specialist?
What if you found someone and you you took the time
to mold them and help them?
Now I know for the first couple weeks,
they're not gonna be as good as you.
No one's gonna be as good as you, you're a control freak,
you've been doing this forever.
But you know what?
After 30 days, after a little testing,
and a little practice and giving them a little rope
and let them get out there and try it,
two things are gonna happen.
Number one, they're gonna become really good at it too.
And number two, you now have all that extra free time Peggy.
So ask yourself where is your control freak in this
showing up and saying, I'm the only one that can
input my listings.
I'm the only one that can create my marketing,
when you and I both know, you were at your very best
when you're knee-to-knee, belly-to-belly,
at somebody's house talking about getting
their home on the market or selling them a property.
Do more of that, let everything else go.
You do that, your production soars to the next level.
All right, let's keep going.
Gia Silva, amazing agent.
Speaking of FSBOs, this gal crushed it at the summit
last year, teaching us her strategy for
for sale by owners.
Her and James have got an amazing business.
She asked, "Tom, what is your absolute non-negotiable
"must achieve wildly important goal?"
I like that question.
I would say that really it's two things for me,
and maybe this is just the evolution of life
and business and maturity.
It's health and relationships.
Those are my non-negotiables.
Taking the time to make sure that I'm doing everything
I can to make sure I'm physically and mentally right,
and a great husband and a great father.
You know a great friend,
being in great relationships
because at the end of the day money is easy, right?
And business is, it's easier, you know what I mean?
It's easier than all that stuff.
So I would tell you those are my non-negotiables
and of course, yes I want to make money
and I want to serve and I want to have an impact
and all of that it's important.
But you asked me, what's my like absolute non-negotiable?
Health and family, that's it for me.
Next one.
Matt Thomas asked, "Hey Tom, how do I respond to an
"online lead?" basically.
"What's the best first response in email or text
"to an online lead who's inquired about a particular house?"
Now Matt, there's been so much work documented on this.
At the end of the day, ready?
When would you like to see that home?
When would you like to schedule an appointment to see
one two three four Banana Street.
My experience and the experience of so many others is,
you go directly to getting an appointment.
That's where you win because the person
inquiring today online, yes I know there's some out there
that are just screwing around
and saying their name is Mickey Mouse at AOL.com.
I'm not referring to those.
I'm talking about the legitimate you know,
Tom and Kathy Ferry, here's my cell phone, here's my email.
I clicked on this property, I'm on a listing portal,
I want more information, I'm asking for more information,
we got to give that person what they want.
When would you like to schedule a time to see the property?
That, my friend, will absolutely help you crush it.
You could do it in video, you can do it in text,
you could do it an email,
but the best people will tell you do it in all three.
All right.
Lori Carlson said, "Hey what's up with this
"Level 10 health stuff?"
Thank you, yes.
My wife Kathy Ferry and her nutritionist Pam Jacobson,
did create three products.
You're gonna see more about it on TomFerry.com.
If you are the kind of person that likes energy,
likes focus, and wants more power, check it out.
All right, moving right along here.
Anne Eliason, I hope I'm saying that correct Anne.
Anne is a rock star agent ladies and gentlemen.
She is a, you know, top five in all of Kauai in Hawaii.
So Anne, first of all, just big shout out to you
and your success.
Your two questions are fabulous, they're very different.
On one hand she's like, I have this level success
but I really don't have my why,
like I don't feel like I've got that drive,
that motivating factor.
Even though Anne, my goodness, you're a rock star.
So, but I get it, I know what you mean.
So let me answer your first question first.
What I would tell you is, you live in paradise, right?
There was a reason why you live in paradise,
what was it, what was that original calling?
What was the original drive?
What was the initial lifestyle goal
that caused you to make that decision, right?
You could have ended up on any other place in the planet
but you chose to be there, so why?
I'd ask you that question.
Then I'd also ask you to think about that question
that we talked about on the last Tom Ferry Show
or maybe a few ago, what's your purpose?
What drives you today?
What motivates you today?
See, some people desperately want to be number one
and that's enough to get them there.
Other people say I want to contribute and give back
and that's what does it for them.
I would just say to you, take the time to
reflect and to be quiet and to maybe journal,
and don't make it a big issue that you don't have it
answered now but instead make it a part of the journey.
That's what I've had to do for going on three decades
because the Y adjusts sometimes
year in and year out and sometimes even over decades.
So Anne, I'm so proud of you and thank you for asking.
Big shout out to you.
The second question you asked, interesting enough,
was around lead conversion, so ready?
I also know that I need to 10X
my lead conversion sales and schist-ums.
Schist-ums, or systems.
I'm doing the basic things like actually calling them
and following up etc, but I'm not getting
the conversion rates that I want or I should.
What do you recommend?
So we believe that you should always be looking at
the lead funnel and asking yourself what are
the incremental adjustments I could make?
And you've already solved the first part.
The lead comes in, you call, you text,
you email, that's good.
Have you considered trying to get him on LinkedIn?
Have you tried to ping him on Facebook?
Have you tried to get him on Instagram, right?
Maybe that's a subtle little adjustment
that you can add to up your conversion.
Remember, we all are choosing these different platforms
where we're most comfortable to communicate
so I want to make sure I'm maximizing that.
The second one is, if you're not using video,
we know that the moment you incorporate a video,
Hey Anne, Tom Ferry, thank you so much for coming by
and looking at 1 2 3 4 Banana Street.
I see that you're in Minnesota, it's got to be cold there.
We'd love to have you on the islands, when would
you like to schedule a time to see some properties?
When you're gonna be here, let me know. (claps)
And you email or text the video.
That's another way.
You, working in your marketplace know,
it's really about that instant connection
and then how are you bringing them value over time?
We have discovered by increasing video
and increasing all the other social platforms,
as a way to touch the customer,
we drove our overall conversion from 3.5 to over 5%.
Because we followed up over time
and made sure that it wasn't just one video
but it was multiple videos.
It wasn't one touch on Facebook or a private message
but it was multiple touches.
So sometimes Anne, it's just the little things
that you do with greater repetition,
not just the set it and forget it follow-up campaign
that many people have especially working in
a resort market like yours,
and quite honestly for everyone watching.
And again big shout-out to you, congratulations.
Hope you have another insanely great year.
All right, looking down the list
I've got time for one more question.
Myra asks, basically, what's the best time to make calls?
Myra Zapata, "What's the best time to make calls?
"I find that during the day I get too many voicemails,
"people at work, is Saturday the best?"
There's been a lot of research on this.
We actually did a Tom Ferry Show,
maybe Mark we can put it up on the list
or maybe put the stats,
that it should be between eight and 10, eight and 10.
Then again between four and six,
you've got the highest probability of
reaching people over the phone.
Eight to 10, four to six.
Same with your prospecting, same with your follow-up.
No doubt, the later you go in the evening,
the higher the conversations are going to be
and of course on Saturdays and Sundays
you're gonna have it.
The key though for us, is we have that hour power,
that daily discipline to do the numbers, to talk to people.
Our past clients and sphere
and those new prospects every day, we want that discipline.
So, start early, that'd be my first recommendation
and then do some follow-up later at the end of the day
and if you want to throw in a mad woman appointment
setting session on Saturday, I'm behind you all the way.
All right, last question and this was really interesting
because my team said, this is like the thing
that we get all the time when we ask for questions.
Everybody's looking for that one thing,
like Tom, what's that one thing I can do?
What's that one magic tip?
What's that one best hack?
So I want to give you a little heads up.
There is no one thing!
It is about taking on a life of experimentation.
Right?
Of living under the mindset of ABT
Always.
Be.
Testing.
It's never one thing my friends.
Like talking with Anne to become wildly successful
at her level and take it to the next level,
it's not doing the one or two things in her follow-up.
It's testing three, four, five, six things
to find the one (snaps) that sparks.
That lights it up, that books more business,
that moves her conversion from three to five or to seven.
Or people like Becky Garcia
who's converting it like you know,
ten, twelve, thirteen percent from Zillow
because she's doing all those things I mentioned.
So my friend, you're watching this show every week.
I want to just implore you to
not watch this looking for the one thing
but always what are two or three things
I can add into my repertoire.
What are two or three things I can test, tweak, and adjust
because if there was only one way to do it,
believe me, I'd share it.
Thanks so much for watching.
Remember always, your strategy matters
and now more than ever, (claps)
your execution is what absolutely rules.
See you soon.
Hey, it's coach Tom Ferry.
Have you been considering hiring a coach?
If so click the link below and check out what we do.
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