9 Questions From Tom Ferry's Instagram Stories

By Edward Berenbaum on Jan 30, 2019 8:01:00 AM


In this week’s episode of The Tom Ferry Show, Tom takes questions from his Instagram stories on a variety of topics, from building your business to how to leverage that very first transaction. I’ve done a basic Q&A here, but you should watch the video for more in-depth answers to these questions.

“I had 45 deals last year and made $250K. How do I double that in 2019?”

Tom says that at that point, you’re in the adding stage: you either need to add an assistant; you need to add more lead sources; you need to add someone to help you generate more appointments, or you need to hire a buyer’s agent so you can focus more on listings. He says that it’s not complicated: you need to find the highest and best use of your time and do that.

This concept of the highest and best use of your time is repeated throughout this episode, and it’s an important concept to keep in mind as you move through the stages of your real estate career.

Continue Reading

Tips on Adding Video Into Your Real Estate Business

By Edward Berenbaum on Jan 23, 2019 11:01:05 AM

This week’s episode of The Tom Ferry Show is a little different than usual. Tom is celebrating his 200th episode and reflecting on how far he has come since episode one. While this episode is mainly about the process of making the show, with a good chunk of funny bloopers thrown in, there are still some takeaways for you as you think about your 2019 marketing plan.

When Tom Ferry decided to create a YouTube show, he started just like many agents: wondering if his content was worth anything, or if he was making videos for the sake of making videos. He went through a long process of experimentation, trying everything from three-minute videos to 30-minute videos. He’s done episodes with guests, no guests, and has covered a variety of topics. So what should you learn from this? That you don’t have to have it all figured out when you begin. Just doing it and making the commitment to producing content is enough to get started. As Bill Pipes said during day one of Sales Edge, “success is progress; not perfection.”

Continue Reading

David Goggins and Raw Accountability

By Edward Berenbaum on Jan 16, 2019 7:34:00 AM

This week, Tom is interviewing David Goggins. David has a long and storied military career, he broke the world record in pull-ups, and he wrote a book called, “Can’t Hurt Me.” David talks about how he transformed himself from a dumb fat guy (his words) into a Navy Seal and bestselling author. He’s all about facing your fears so that you can deal with your past and be dominant in your business and your personal life.

Goggins believes in raw accountability. You have to be honest about your shortcomings and work to fix them. In real estate, he suggests that you should make a list of things you don’t like. If you don’t like making calls, guess what David wants you to do? Make a lot of calls. (He uses more colorful language that you’ll see in the video). Unlike many coaches, he doesn’t believe that you should triple down on your strengths. He says that when there’s fear involved, you need to triple down on your weaknesses. If you don’t do that, then your fear will own you, and it will impede your success. David says that fear shrinks your world. When you let your fears control you, you’re cutting down opportunities. Once you conquer your fears, however, you’ll see that the world begins to open up to you.

Continue Reading

How to Employ the Strategy of Preeminence

By Edward Berenbaum on Jan 9, 2019 10:46:28 AM

In this week’s episode of The Tom Ferry Show, the coach interviews his coach. Jay Abraham is one of the country’s most well-known marketing consultants and has worked in the industry for decades, achieving remarkable results for a wide variety of industries. Today, he and Tom are discussing one of his favorite topics, the strategy of preeminence. The strategy of preeminence outlines how to create trust, relevancy and a level of respect that makes you the only option for potential clients.

Jay believes that this should be the defining philosophy that should guide everything you do. You have a responsibility to help the marketplace, and you need to support the client in making the best decision possible. Sometimes that means you have to stand up to them because the strategy of preeminence means that you have to be their most trusted adviser.

Continue Reading

What is the 2019 Real Estate Market Really Going to Be Like?

By Edward Berenbaum on Dec 19, 2018 8:02:00 AM

Is the world going to end in 2019? This week, Tom interviews “The Oracle of Real Estate,” Steve Harney, who founded KCM. They chat about doomsday predictions and what’s going to happen in the market over the next few years. The bottom line? If you prepare and remain agile, not only will you survive in this new market, but you’ll thrive. Here are some of the questions that Tom asked:

Does the fact that listings and price adjustments are increasing mean that we’re heading into another 2008?
Steve immediately allays some fears, saying that we’re not talking depreciation yet. Price appreciation is slowing down, which is precisely what the market needed to avoid another bubble and another colossal crash. This shift means that fundamentals have to change. You need to get trained on the new fundamentals: being more direct and educating your clients on the old market versus the new market, instead of going in and saying that you can get them the price they want and get it done quickly.

Continue Reading

How to Give a More Effective Listing Presentation

By Edward Berenbaum on Dec 12, 2018 1:59:30 PM

“We are as good as the amount of time we spend getting good.”

In getting ready for 2019, we’re preparing for a market adjustment. This isn’t something to be afraid of: we know it’s coming and we can adjust. One way to start preparing now is by updating your listing presentation to be as relevant to today’s sellers as possible.

In this week’s episode of The Tom Ferry Show, Tom has three recommendations for upgrading your listing presentation:

  1. Positioning
  2. Price Analogies
  3. Being Direct
Continue Reading

Video Hacks From an Industry Leader

By Edward Berenbaum on Dec 5, 2018 2:17:47 PM

In this week’s episode of The Tom Ferry Show, Tom is chatting with Steve Pacinelli, the CMO of BombBomb. BombBomb is all about providing video solutions to real estate professionals, so Steve is armed with some useful tips on integrating video into your business.

Why is it more important than ever to be using video in some capacity?

According to Steve, we’ve reached an epidemic of facelessness. In so many of our daily interactions, the messenger is being removed from the message. Video brings the messenger back in and allows the audience to recognize them as human beings. Seeing your face also makes you appear more trustworthy, which according to Tom, is key in today’s market. Don’t worry about being perfect in your videos! Imperfection breeds authenticity, which consumers respond to.

Continue Reading

You've Set Your Goals - Here's How to Actually Achieve Them

By Edward Berenbaum on Nov 28, 2018 1:24:36 PM

February is littered with the bones of dead New Year’s resolutions. We all start out with great intentions-- I’m going to lose 10 pounds; I’m going to improve my business, but most of us lack the follow-through. We just had an amazing business planning session, and the last thing I want is for that to happen to you. That’s why this week’s episode of The Tom Ferry Show comes at the perfect time. He gives seven steps that will help you achieve the goals that you’re setting up in your 2019 business plan. It comes down to this: If you don’t change the way you think and condition yourself to believe that you’re the type of person who can achieve your dreams, then your goals become just a wish.

Here are the seven steps that Tom goes through when he’s looking to set a significant goal:

Continue Reading

6 Ways to Make 2019 Your Absolute Best Year Ever

By Edward Berenbaum on Nov 21, 2018 9:24:39 AM

The market is adjusting; should you worry? Not if you make a plan. This week, Tom has six ways to ensure that 2019 is your best year ever. It’s all about planning and tracking, so if you have the discipline, nothing will be able to stop you.

  • Set a meaningful goal: How many transactions to you want to do next year? Our income as real estate agents is in direct proportion to the problems we solve. How many people do you want to help next year? I encourage everyone to accept Tom’s challenge: close a minimum of 25 transactions. That will put you in the top 3% of real estate agents worldwide, but it’s an achievable goal.
Continue Reading

Are You a White Collar Warrior?

By Edward Berenbaum on Nov 15, 2018 4:12:09 PM

In this week’s edition of The Tom Ferry Show, Tom interviews Bill Hart, author of White Collar Warrior: Lessons for Sales Professionals From America’s Military Elite. In the book, Hart lays out a set of tenants that real estate professionals can take from the military and apply to their business. If any of you have been watching these for a while, you’ll notice some familiar themes that Tom Ferry consistently tries to drive home.

Training

Both in the military and sales, it is crucial to have standard operating procedures. The SEAL team who caught Bin Laden Didn’t just have a plan B. They had four plans in case the first three went sideways. Bill says, “Training in the Military is critical. Training in our world is essential.” The key is not to practice once and become great. The key to success is to practice at the level to which you want to perform and then develop standard operating procedures based on that practice.
Continue Reading

Recent Posts