Get More Listings with No Budget | Q&A with Tom Ferry
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Get More Listings with No Budget | Q&A with Tom Ferry


– Are you looking for more
listings with zero budget? This is your show. (rock music) 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. (corporate music)

31 Comments

  • Sherine Walrond

    LOVED YOUR ENERGY!! I have a similar video to this on my channel but not as PROFESSIONAL as this – always looking for inspiration <3 x

  • Cyrus Zandian

    Thanks you for your tips, especially this would work for Toronto and its surrounding area market where last year there were multiple offers ialmost every listings in MLS.

  • Zazen forever

    Great stuff as always. Ive always wondered about the production thought process of these videos where they pan away from Tom and show the crew, or a different angle, or something else. Im sure there is a study that suggests this is a good thing, but I find it distracting. Just my opinion.

  • Christophe Choo

    Thanks for listening and thats what I do as well, I am not going to take this any more and I focus my energy on what I can do! Thank you my friend!!!

  • Rocky Ed

    Hey Tom, If you are reckless you can do whatever you want? But so many regulations, on expired listings, sold on same street, cold calls you cannot just go do that being compliant with Board rules? You cannot do CMA and send to home owner. Privacy rules, do not call list, no soliciting rules. Man Talk is cheap. But you cannot do whatever the heck you want. STOP and THINK before you take Junkie Advise?

  • Ross Cherry

    Hey Coach Tom Ferry! You have 10++ style on that pocket square of yours. Best I've ever seen! 😁 Btw, I'm a Keller Williams agent and we have our Family Reunion Conference this weekend. Any advice on people I should seek out who are at the top of their game using Attraction Marketing and Digital Strategies to grow their businesses? If you prefer, you can always shoot an email to [email protected] Thanks in advance! Ps-loved your Gary Vee football stadium video!

  • Kristen Hale

    Hey Tom! I love watching your videos and I'm always taking notes to look back at later! I wanted to know what you advice you would give a new agent on getting a realtor mentor/coach to provide guidance through that scary first year? I'm dying to find the right coach to help me achieve my first year goals but I don't know how to go about it. Thank you for your videos!

  • beaverfev

    Hi Tom I'm a new agent and find it hard to get clients. I go through expired listings but can't find phone numbers. How do I get clients if I can't x contact people

  • Slie

    Thank you! As a brand new agent, I'm on what seams to be a hamster wheel of trying to find that ONE thing (or at least the first thing) but what you're saying makes so much sense. Thank you, thank you.

  • Ryan Arnett

    Tom, your content is straight up gold! No one has free content with so many career enhancing tips like you! I'm a real estate agent in Washington State and you have helped me and my business greatly! Thanks Tom and keep doing what you are doing! God bless!

  • B Patrick

    A good Real Estate agent will sell a house to a family in a housing bubble, A GREAT Real Estate agent will tell the family to wait. That's the difference between a Realtor and a Responsible Realtor. Here 's why.

    The NHBA National Home Builders Ass. state, "there in no shortage of lumber" If Trump opened up trade and lifted tariffs on Canadian lumber, home prices would drop. Las Vegas Assessors are maximizing "property values" because of the tax losses during the recession, they are falsifying the values for more tax revenue, to counter the Trump Tax plan where corporations coming to Las Vegas get to abate. Labor shortage, there is no labor shortage, only labor shortage to what builders want to pay, When the labor market is tight, there is a 30% increase in wages paid to labor. When the recession hits, labor wages drop, tariffs will be lifted and The County will need to value the properties to their actual value. When this happens home values will drop. This has nothing to do with subprime mortgages. That will happen next. Las Vagas is in for the Nations Worst Crash. At 3% down and PMI averaging 1
    $180.00 per month, walking away from a house who's value slowly fails to appreciate equates to concern. The average combined family is paying now 40% of their total income to living in a house. Compared to 25% 4 years ago. When employers start cutting jobs, the home is the first to go. After all, a 3% down payment means that a family has little to no savings.

  • Jason Craig

    houses.renttoownlistings.icu is the ultimate resource for locating, and researching distressed properties in the United States.

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