Welcome to Mike Ferry TV the week of December 9th. The year is almost done, but there is still a lot of listings to be taken and a lot of sales to be made, and we just want to help you participate in a few more before the year ends. I want to share quickly something that I did about three years ago that has been very beneficial to a small group of people, a small group of people at our Superstar Retreat on day two. The audience was not responding in their usual fashion. Probably a little bit much too much time in these beautiful hotels and casinos in Las Vegas during the retreat. So, I said before lunch, I said, I have a great idea. I think every one of you in the audience, and there were probably 3,800 or 4000 people in the audience. Every one of you should write me a check for $100,000, and in return I will call you every day Monday, Tuesday, Wednesday, Thursday, Friday for one year and whatever money you’re making and deals you’re doing, we’re going to add substantially to it because I can drive you to higher levels of production and income. I said it as a joke. I said it as just something to wake them up. And I said, see you after lunch, and I left. Well, I came back after lunch and there’s a lady standing on the stage and I said, can I help you? She said, yes. I called my husband at home in Colorado, and he said he would like to do that deal that you recommended for me.

We have the money. We’d like to spend it on you. We’d like to invest it in that program. I said, I don’t have a program. That was just a story. It was just a little bit of a joke. It was designed to wake up the audience a little bit. She goes, well, I’m really serious. And I said, okay, let’s do this. Call me Monday at 10 a.m. Pacific Standard Time and let’s talk about this. She said, fine. Well said. Monday morning, my phone rings at 10:00 and she identifies herself and she said, we’re ready to send you the money. I said, okay, I am not going to accept the money, but what I will do is this I’ll do it for six months for $50,000. Monday, Tuesday, Wednesday, Thursday, Friday for six months. How many transactions did you do last year? And I think her number was 17 or 18, which was good production. How much did you earn? A little under 300,000. In the six months that we talked every day. Six months now. We went from 16 to 18 transactions to 47 closed and almost 800,000 in income. Well, when I shared that story at the retreat the next year, I had probably ten more people that asked if they could do the same. I selected two, and I think now I’ve done it with probably 14 or 15 people, and the results are always the same.

Now, the purpose of the story that I want to share with you was, I’m working with a lady at this time and we’re working on how do we present to a seller in a fashion that moves the closing percentage from, in her case, 70% or seven out of 10 to 80 to 85%, or 8 to 8 and a half listings taken out of ten. And the reason we want to do this is because she’s a powerful sales gal. She took about 65 listings so far this year on 85 presentations that she’s done. So, I said, let’s look at what you would have to do before the end of the first quarter to move your closing percentage from 70 to 85%. Now, guys and gals, I would say that realistically, if we look at a nationwide US and Canada, the average agent closes 2 to 3 out of every ten presentations they make. Now think about the energy, the waste of time going out, and how discouraged an agent would be if they’re only getting 2 or 3 out of ten. Our average coaching client gets 72% or 7.2 listings out of every ten. And we wanted to take this lady that I’m working with daily to 8 to 8 and a half out of ten. I said, there’s three things that you have to do. Number one, you absolutely have to ask every one of the pre-qualifying questions before you ever allow yourself going on a presentation again.

And there was a hesitation because I said, it sounds like with the lack of response to what I said, you don’t ask every question. Well, I said, well, that’s the answer that I get all the time, which is not an answer. Why do we want you to ask all the pre-qualifying questions? Motivation. They have to have a motivation, a desire to do something else besides live in the home they live in, whether it be moving up, moving down, transfer to another city their kids have grown up. Maybe they’re adding to the family. They need a bigger, smaller house, anything. They have to have motivation. And then we have to agree in a price range that makes sense. And you find that out by asking all the pre-qualifying questions. Do not leave one out under any circumstance and you’re going to see an improvement. Because listen carefully. You’ll stop going on as many presentations you’re going on and you’re still going to close a higher percentage, which means you’re spending less time to do more deals, to make more money by asking the pre-qualifying questions. But then second, I said to her, we have to strengthen your listing presentation. And I think the best way to look at that is we have to think of ourselves as an actor or an actress performing, because the listing presentation is a performance you’re walking in. They’re looking at you as a person that has the knowledge and the skill to take the home they have at their price, of course, and get it sold.

Well, hi. It’s so nice to be here with you folks tonight. You have such a lovely home. Is not a skilled, strong, professional approach. Your vests are pre-qualifying questions. It is 7:00 on a Tuesday night. They answer the door. Mr., Mrs. Smith, I am so excited to be here tonight to get your home on the market. Get it sold. May I come in and get started? They say yes. I step inside the house and the first thing I say is, may I take a look at your home? And they would respond with, may we show you through? Actually, no. I’d like to see the home. The way a buyer sees it the first time. I’ll meet you at the kitchen table. So, it’s a structured, strong to the point presentation. But learning that presentation, as you’ve heard me say all year, requires practice. Taking the script and reading it out loud with a smile on your face. Time and time and time and time again. Okay. Have you ever played any high school team sport? Maybe even in a college University team sport? Have you ever played on a little soccer team in the neighborhood? Every time that you think about the answer being yes, remember that first of all, you had a coach. Second, you had to practice. And third, if you didn’t practice and do it the way the coach wanted the team to perform, you didn’t get to be on the team.

So, practice is the answer to performance. But the third thing I said to this young lady this morning on the phone, actually it was yesterday and today of last week, of course, I said to her, listen, are there any common objections you’re receiving that you might stumble, hesitate or not feel as strong in answering she said. Price and commission. I said, okay, what I’d like you to do is talk to your mastermind group this week. Find out what they are saying on price and commission, see if it makes sense for you to work with the same and let’s see what would happen. So, we figured out that if she does move from 70 to 85%, she would add 8 to 10 transactions to her 2025 production goal, and she’s making $15,000 per deal. In essence, if she just does those three things, she’s going to make an additional $150,000 additional more than she’s made in the past. I wrote down the following. If you’d like these kind of results for yourself, let me suggest. Commit to Taking the Mike Ferry scripts and practicing them on pre-qualifying and the Listing Presentation. commit to using what we teach. Quit jumping from speaker to speaker to speaker to speaker, trying to grab one great idea when we have 50 years of experience with good, solid business ideas for you. Second, I wrote down hire a coach. We were the very first coaching company in 1988, and we still remain the first coaching company.

Others have claimed to start before us, but the truth is, we’re the first coaching company. We’ve done hundreds of thousands of coaching calls for good people like yourself. I wrote down. Third, attend the Production Retreat we’re going to do in January. Call our office. Go online. Get registered. Be part of that group. The room only holds 1700 that we’re using this time, and it’s going to sell out. Let’s have you be one of the Participants. And then I wrote down last. Figure out the numbers. So, all of us your broker, your manager, your coach, if you have one, your mastermind group can help you improve upon the numbers that you presently are working with. I believe December is going to be a great month. I’m coaching one young man that committed to me. He’s going to take 16 listings this month. He has four as of last week. I don’t think there’s any question that those of us that are working in the month of December are going to succeed, and worst-case scenario, you’re going to have 5 or 6 good leads for January, and January is going to become a good starting point for your 2025. Instead of just one of those, I hope the market is okay. The market is going to be great in 2025 because the thinking process that you’re using is great. I will look forward to talking to you next week. Thanks for today.