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Get More Listings with No Budget | Q&A with Tom Ferry - YouTube
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- Are you looking for more
listings with zero budget?
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This is your show.
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(rock music)
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Hey, welcome to the Tom Ferry Show.
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Today I'm answering your
questions ranging from no budget,
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how do I get listings,
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how do I get out of a
rut or out of my head,
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how do I leverage?
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And Tom, what is the magic bullet?
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Well I can tell you guys.
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You know I thrive on
answering your questions,
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whether it's here at TomFerry.com
or YouTube or Facebook.
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Today I'm going deep with a
whole bunch of great questions.
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Let's jump right in.
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Heath Thomas asked, "Hey Tom,
what's the best way to build
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"a listing pipeline on sweat equity?"
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Heath, I love the question because
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it really helps everybody out there.
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Now remember if you're in
Europe it's gonna be different,
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if you're in Mexico
it's gonna be different,
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maybe even parts of North America,
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Canada, and the U.S., Australia, etc.
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So Heath, I'm assuming these
four are right for you.
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Number one, you want
to focus your marketing
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and prospecting efforts
around recent sales.
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We know that when one home sells usually
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two more sell right away,
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especially if that home
had multiple offers.
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Even if it wasn't your transaction,
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you can piggyback on the
momentum of the market
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(knocks)
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by knocking on their door and saying,
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I know you know the Jones' house sold.
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Did you hear it had five
offers, that means four offers
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are crying right now and
you got one new neighbor.
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So I want to talk to you about those four,
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have you had any thoughts of selling?
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You know, using that kind of very direct
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marketing approach is
gonna cause you to win.
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Over the phone is great,
face to face always better.
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Number two, I wrote down
obviously for sale by owners.
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Getting into the marketplace,
knocking on their doors,
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making phone calls,
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scheduling a chance to preview their home.
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And then you know what
at the end of the day
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you can go back and look
at the archives of content
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that I've created around this,
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campaigns that our clients
have used so successfully,
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here's all it comes down to.
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There's ten people you talk to,
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three are actually interested
in hiring a real estate agent.
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We know the numbers from Fizber,
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it's around 61 days of being on the market
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before they finally say
forget it, this isn't working.
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So going after the fastest
source of business opportunity,
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cost you no money, you
just gotta have the skills.
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Number three of course, expired listings.
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There is a shocking
number of expired listings
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so far this year, why?
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Because the sellers know
it's a seller's market
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and what are they doing?
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They're over pricing properties,
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giving you an opportunity to repackage
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and reposition those properties,
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and ultimately get them on their way.
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So if that's not in your marketing plan,
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you need to add it in.
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And then the last one
I wrote down of course,
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make sure you're bringing
value to your database.
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One of the things that I'm
recommending to people is
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what a wonderful idea now to go back
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and do what we were doing
in 2010, 11, and 12.
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Where you actually create a
little three to four minute CMA
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on every person inside your database.
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Imagine this, you're gonna
send three to four CMAs a day
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in the mail, with a note.
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Write "Dear Richard", "Dear June."
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"I was thinking about you the other day
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"and I thought you would
love to see the stats,
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"the actual value of your home.
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"Please take the time to review it."
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And of course you can add a photo,
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you can use Google to map
it, you can make it special,
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you can make it unique,
and at the end of the day,
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what are you doing?
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You're bringing your clients value.
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Whether they're past
clients or they're sphere
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or they're leads, we know that
the vast majority of people
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do not know the real value of their home.
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And as we've heard from Steve Harney
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and so many other economists,
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that if we can be the knowledge broker
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and we can educate those customers,
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you're gonna get a
percentage of them (claps)
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that are ready to go.
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So those would be my four things Heath.
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Let me know in the comments below
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which ones you decide to do
and for everybody watching,
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what are the three or four that you think
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Heath should do as well?
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All right, let's go to Lynn Fitzgerald.
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Lynn asked, "Hey Tom, I'm
dealing with some anxiety
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"and getting back on track."
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She said, "You know when
some things are just off
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"in my personal life
how do you stay focused?
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"You know, what are your tricks,
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"what are your habits, what do you do?"
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Now what's interesting is,
I look at this question
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and it's not unlike a really long time
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amazing client of mine, Christophe Choo,
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who said, Tom what do you do when
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you're feeling discouraged?
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You know, you take the big listing
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and the deal falls apart
or it doesn't sell.
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Lynn and Christophe are
asking the same question.
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The answer is, I don't
get frustrated anymore.
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I don't get disappointed,
what I do now and then is
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I get upset and I get pissed off.
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Do you want to know why?
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Because when I get that anger going,
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and I don't mean like
running around and stomping
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and why did this happen to me?
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I mean gosh darn it, what
are we gonna learn from this?
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What was the mistake we made?
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Where did we go wrong?
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What are we gonna do better?
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Come on team, let's go!
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I get pissed off and it gets
me right back into action.
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So I don't give myself
time to wallow anymore.
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You know what, nobody cares.
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So Lynn you know me, you
know where my heart is,
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no one cares, get over it.
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Christophe, move forward.
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Do you want to know how I solve it?
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I get pissed and I get into action.
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I get pissed and then I get into action.
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And the more action I take, the
faster that stuff goes away.
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Be clear my friends, if
you're ever in a rut,
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if you're ever feeling depressed,
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you also physically
(groans) have to do it.
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So why don't you move your
body in a powerful way,
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pick up the phone, call five past clients,
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call one of your current
listings who loves you,
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call your most recent sale and check in.
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You do this and you know what happens?
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You remind yourself, I'm
Christophe Choo, let's go!
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I'm Lynn Fitzgerald,
let's get back into action
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and boom, it's game on.
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Now, pretty easy to say that, right?
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Pretty easy to say it?
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It takes conditioning, you
got to remind yourself.
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You got to say to your three, four,
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or five friends inside the office.
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You got to give them permission
to call you out on it.
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Hey, if you see me being Eeyore,
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you know Winnie the Pooh,
things aren't that great.
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I want you to walk up
and smack me in the head.
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See if you create the people around you,
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you give them permission
to hold you accountable
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to the standards I know
that you have for yourself.
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You know what, they're gonna do it for you
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and you'll do the same
when they need it as well
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and that's what it's about.
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So that's my advice.
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Let's keep going.
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Great question here, Peggy Bouchard right,
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amazing agent said, Tom.
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You know she's a top
producer she wants more.
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She said, "What's one thing
that you would suggest
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"that a high producing agent
needs to do to get more?"
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And of course she just
said more of everything.
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Well Peggy the bottom
line, and you know this,
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is it comes down to leverage.
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It's leverage!
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So Peggy, what do we have to do?
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You have to get a list and
say, what are all the things
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I do that have massive value?
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That are impossible for me to replace?
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Now, Peggy you and I both
know that only comes down to
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you following up with leads,
you going on appointments,
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you negotiating, and perhaps
you overseeing the marketing.
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Not doing the marketing but
overseeing the marketing
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and writing the strategy
for your business.
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Everything else can be
outsourced or delegated.
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How do you take your
business to the next level?
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You stop doing the $10 an hour work.
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You stop doing the things you always did,
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when your production was lower,
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that now gobbles up so much of your time.
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I can't name the name but
I've got an amazing client,
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who is such a rockstar,
who said to me one time
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but Tom you don't understand,
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I always go on every first
showing and here's why.
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And I said to her, you know
that made a lot of sense
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when you had five listings
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but now that you have
almost 30 with no lockboxes,
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all you're doing all day long
is showing these listings
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which means you're not getting any
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and you go rich, less, rich, less.
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So I said to her, what
if you just let go of it?
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What if we hired somebody
that was a specialist?
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What if you found someone
and you you took the time
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to mold them and help them?
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Now I know for the first couple weeks,
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they're not gonna be as good as you.
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No one's gonna be as good as
you, you're a control freak,
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you've been doing this forever.
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But you know what?
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After 30 days, after a little testing,
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and a little practice and
giving them a little rope
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and let them get out there and try it,
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two things are gonna happen.
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Number one, they're gonna
become really good at it too.
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And number two, you now have
all that extra free time Peggy.
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So ask yourself where is
your control freak in this
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showing up and saying,
I'm the only one that can
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input my listings.
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I'm the only one that
can create my marketing,
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when you and I both know,
you were at your very best
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when you're knee-to-knee, belly-to-belly,
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at somebody's house talking about getting
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their home on the market
or selling them a property.
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Do more of that, let everything else go.
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You do that, your production
soars to the next level.
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All right, let's keep going.
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Gia Silva, amazing agent.
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Speaking of FSBOs, this gal
crushed it at the summit
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last year, teaching us her strategy for
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for sale by owners.
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Her and James have got
an amazing business.
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She asked, "Tom, what is
your absolute non-negotiable
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"must achieve wildly important goal?"
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I like that question.
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I would say that really
it's two things for me,
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and maybe this is just
the evolution of life
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and business and maturity.
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It's health and relationships.
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Those are my non-negotiables.
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Taking the time to make sure
that I'm doing everything
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I can to make sure I'm
physically and mentally right,
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and a great husband and a great father.
[586]
You know a great friend,
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being in great relationships
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because at the end of the
day money is easy, right?
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And business is, it's
easier, you know what I mean?
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It's easier than all that stuff.
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So I would tell you those
are my non-negotiables
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and of course, yes I want to make money
[602]
and I want to serve and
I want to have an impact
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and all of that it's important.
[605]
But you asked me, what's my
like absolute non-negotiable?
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Health and family, that's it for me.
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Next one.
[612]
Matt Thomas asked, "Hey
Tom, how do I respond to an
[615]
"online lead?" basically.
[616]
"What's the best first
response in email or text
[619]
"to an online lead who's inquired
about a particular house?"
[622]
Now Matt, there's been so
much work documented on this.
[625]
At the end of the day, ready?
[627]
When would you like to see that home?
[629]
When would you like to
schedule an appointment to see
[632]
one two three four Banana Street.
[634]
My experience and the
experience of so many others is,
[637]
you go directly to getting an appointment.
[640]
That's where you win because the person
[643]
inquiring today online, yes
I know there's some out there
[646]
that are just screwing around
[649]
and saying their name is
Mickey Mouse at AOL.com.
[652]
I'm not referring to those.
[653]
I'm talking about the legitimate you know,
[655]
Tom and Kathy Ferry, here's my
cell phone, here's my email.
[658]
I clicked on this property,
I'm on a listing portal,
[661]
I want more information, I'm
asking for more information,
[664]
we got to give that person what they want.
[666]
When would you like to schedule
a time to see the property?
[669]
That, my friend, will
absolutely help you crush it.
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You could do it in video,
you can do it in text,
[673]
you could do it an email,
[675]
but the best people will
tell you do it in all three.
[678]
All right.
[679]
Lori Carlson said, "Hey
what's up with this
[682]
"Level 10 health stuff?"
[683]
Thank you, yes.
[684]
My wife Kathy Ferry and her
nutritionist Pam Jacobson,
[687]
did create three products.
[689]
You're gonna see more
about it on TomFerry.com.
[691]
If you are the kind of
person that likes energy,
[694]
likes focus, and wants
more power, check it out.
[696]
All right, moving right along here.
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Anne Eliason, I hope I'm
saying that correct Anne.
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Anne is a rock star agent
ladies and gentlemen.
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She is a, you know, top five
in all of Kauai in Hawaii.
[709]
So Anne, first of all,
just big shout out to you
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and your success.
[713]
Your two questions are fabulous,
they're very different.
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On one hand she's like,
I have this level success
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but I really don't have my why,
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like I don't feel like
I've got that drive,
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that motivating factor.
[723]
Even though Anne, my
goodness, you're a rock star.
[726]
So, but I get it, I know what you mean.
[728]
So let me answer your
first question first.
[731]
What I would tell you is,
you live in paradise, right?
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There was a reason why
you live in paradise,
[737]
what was it, what was
that original calling?
[740]
What was the original drive?
[741]
What was the initial lifestyle goal
[744]
that caused you to make
that decision, right?
[746]
You could have ended up on
any other place in the planet
[749]
but you chose to be there, so why?
[752]
I'd ask you that question.
[754]
Then I'd also ask you to
think about that question
[756]
that we talked about on
the last Tom Ferry Show
[758]
or maybe a few ago, what's your purpose?
[761]
What drives you today?
[762]
What motivates you today?
[764]
See, some people desperately
want to be number one
[767]
and that's enough to get them there.
[769]
Other people say I want to
contribute and give back
[772]
and that's what does it for them.
[774]
I would just say to you, take the time to
[777]
reflect and to be quiet
and to maybe journal,
[779]
and don't make it a big
issue that you don't have it
[782]
answered now but instead make
it a part of the journey.
[785]
That's what I've had to do
for going on three decades
[788]
because the Y adjusts sometimes
[790]
year in and year out and
sometimes even over decades.
[794]
So Anne, I'm so proud of you
and thank you for asking.
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Big shout out to you.
[797]
The second question you
asked, interesting enough,
[799]
was around lead conversion, so ready?
[802]
I also know that I need to 10X
[804]
my lead conversion sales and schist-ums.
[807]
Schist-ums, or systems.
[810]
I'm doing the basic things
like actually calling them
[813]
and following up etc, but I'm not getting
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the conversion rates
that I want or I should.
[818]
What do you recommend?
[819]
So we believe that you
should always be looking at
[821]
the lead funnel and
asking yourself what are
[824]
the incremental adjustments I could make?
[826]
And you've already solved the first part.
[829]
The lead comes in, you call, you text,
[830]
you email, that's good.
[832]
Have you considered trying
to get him on LinkedIn?
[835]
Have you tried to ping him on Facebook?
[836]
Have you tried to get
him on Instagram, right?
[839]
Maybe that's a subtle little adjustment
[841]
that you can add to up your conversion.
[843]
Remember, we all are choosing
these different platforms
[846]
where we're most
comfortable to communicate
[848]
so I want to make sure
I'm maximizing that.
[850]
The second one is, if
you're not using video,
[853]
we know that the moment
you incorporate a video,
[856]
Hey Anne, Tom Ferry, thank
you so much for coming by
[859]
and looking at 1 2 3 4 Banana Street.
[861]
I see that you're in Minnesota,
it's got to be cold there.
[864]
We'd love to have you on
the islands, when would
[866]
you like to schedule a time
to see some properties?
[869]
When you're gonna be
here, let me know. (claps)
[872]
And you email or text the video.
[873]
That's another way.
[875]
You, working in your marketplace know,
[877]
it's really about that instant connection
[879]
and then how are you bringing
them value over time?
[883]
We have discovered by increasing video
[885]
and increasing all the
other social platforms,
[889]
as a way to touch the customer,
[891]
we drove our overall
conversion from 3.5 to over 5%.
[896]
Because we followed up over time
[899]
and made sure that it
wasn't just one video
[901]
but it was multiple videos.
[903]
It wasn't one touch on
Facebook or a private message
[907]
but it was multiple touches.
[909]
So sometimes Anne, it's
just the little things
[912]
that you do with greater repetition,
[914]
not just the set it and
forget it follow-up campaign
[919]
that many people have
especially working in
[921]
a resort market like yours,
[923]
and quite honestly for everyone watching.
[925]
And again big shout-out
to you, congratulations.
[928]
Hope you have another insanely great year.
[930]
All right, looking down the list
[931]
I've got time for one more question.
[933]
Myra asks, basically, what's
the best time to make calls?
[938]
Myra Zapata, "What's the
best time to make calls?
[941]
"I find that during the day
I get too many voicemails,
[943]
"people at work, is Saturday the best?"
[945]
There's been a lot of research on this.
[947]
We actually did a Tom Ferry Show,
[948]
maybe Mark we can put it up on the list
[950]
or maybe put the stats,
[951]
that it should be between
eight and 10, eight and 10.
[955]
Then again between four and six,
[957]
you've got the highest probability of
[960]
reaching people over the phone.
[961]
Eight to 10, four to six.
[963]
Same with your prospecting,
same with your follow-up.
[966]
No doubt, the later you go in the evening,
[968]
the higher the conversations
are going to be
[970]
and of course on Saturdays and Sundays
[972]
you're gonna have it.
[973]
The key though for us, is
we have that hour power,
[976]
that daily discipline to do
the numbers, to talk to people.
[981]
Our past clients and sphere
[982]
and those new prospects every
day, we want that discipline.
[985]
So, start early, that'd
be my first recommendation
[988]
and then do some follow-up
later at the end of the day
[992]
and if you want to throw
in a mad woman appointment
[994]
setting session on Saturday,
I'm behind you all the way.
[998]
All right, last question and
this was really interesting
[1002]
because my team said,
this is like the thing
[1004]
that we get all the time
when we ask for questions.
[1006]
Everybody's looking for that one thing,
[1008]
like Tom, what's that one thing I can do?
[1010]
What's that one magic tip?
[1012]
What's that one best hack?
[1013]
So I want to give you a little heads up.
[1016]
There is no one thing!
[1017]
It is about taking on a
life of experimentation.
[1021]
Right?
[1022]
Of living under the mindset of ABT
[1026]
Always.
[1027]
Be.
[1028]
Testing.
[1029]
It's never one thing my friends.
[1031]
Like talking with Anne to
become wildly successful
[1034]
at her level and take
it to the next level,
[1036]
it's not doing the one or
two things in her follow-up.
[1039]
It's testing three, four, five, six things
[1042]
to find the one (snaps) that sparks.
[1044]
That lights it up, that
books more business,
[1047]
that moves her conversion from
three to five or to seven.
[1051]
Or people like Becky Garcia
[1053]
who's converting it like you know,
[1054]
ten, twelve, thirteen percent from Zillow
[1057]
because she's doing all
those things I mentioned.
[1059]
So my friend, you're watching
this show every week.
[1062]
I want to just implore you to
[1064]
not watch this looking for the one thing
[1066]
but always what are two or three things
[1069]
I can add into my repertoire.
[1071]
What are two or three things
I can test, tweak, and adjust
[1074]
because if there was
only one way to do it,
[1076]
believe me, I'd share it.
[1077]
Thanks so much for watching.
[1079]
Remember always, your strategy matters
[1081]
and now more than ever, (claps)
[1083]
your execution is what absolutely rules.
[1085]
See you soon.
[1086]
Hey, it's coach Tom Ferry.
[1088]
Have you been considering hiring a coach?
[1090]
If so click the link below
and check out what we do.
[1093]
(corporate music)
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