Good morning and welcome back to Mike Ferry TV it’s the week of March 11th, 2024. We hope that you’re off to a good start for the year. January and February were probably a little slower than we anticipated nationwide, but March is up to you and March is up to you doing the job that you’ve been hired to do, and we’re trying to help you do it a little more efficiently and effectively.

I’ve written down five or six thoughts for today. If you’re taking notes, I’d like you to write them down. If you’re not taking notes, I want you to review this particular Mike Ferry TV at least two or three times before next Monday.

This is a business of knowledge and confidence.

The first thought I wrote down is something I’ve talked about for many, many years. And it’s the letters K equals C and I equals F. Or in essence, confidence is coming to, is going to bring you the confidence you need to do your job. And the I, which is for ignorance, will create some type of drama or fear in your life in most cases. This is a business of knowledge and confidence.

Production is based on the fact that you walk into a home on a listing presentation. you know what to say, you know what to do and you can do it effectively. Or you can pick up the phone and call a past client and ask for a referral and feel comfortable doing it. Or you can call an expired listing and feel very comfortable that even though you may not get the appointment, you’ll least be leaving an impression of a professional salesperson that they’ve talked to.

So we need to think about the level of knowledge we have, which gives us the confidence we need to do the job we have to do, and then understanding, of course, that if we do not know what to say, we’re ignorant in that particular part of the sales process, which creates some uneasiness and some drama and some fear, which is perfectly normal to experience. But it’s something that you can overcome by spending your time learning what to say.

The second thought I wrote down, and you’ve heard me say it on Mike Ferry TV in the past. If I know what to say, I can do what I’m supposed to do. If I know what to say, I can do what I’m supposed to do. But then on the other side of that, if I don’t know what to say, I generally cannot do what I’m supposed to do. I’ve always used the example that you’re driving down the street on the way to a meeting of some type, and you see a for sale by owner sign. Do you stop the car, get out, walk up, knock on the door, or do you accelerate to get away from that sign as quickly as possible?

When you don’t know what to say, you’re probably going to avoid that particular situation at any and all cost.

Knowing what to say to a for-sale by owner. Knowing what to say to an expired listing. Knowing what to say doing a just-listed just-sold phone call, knowing what to say when prequalifying a buyer or a seller, and knowing what to say on the presentation is vitally important to the strength of your ability to do your job at the highest level. But always remember, when you don’t know what to say, you’re probably going to avoid that particular situation at any and all cost. Your competition. The people that you sometimes work with, the people you compete against. And in almost every market in North America, there’re tens of thousands of realtors lurking in the background that wish they had your information as to knowing what to say.

I don’t think I’m the greatest of all time, but I think I offer you the scripts and dialogs to build the confidence to do what you’re supposed to do.

The third point I wrote down is how do I learn what to say? And I say this very respectfully to all of you because there are so many options that you have as to what you’re going to learn and who you’re going to learn from. I’ve been doing this for 49 years. My wrinkles and my gray hair proved that to almost anybody I talk to. But at the same time, I’ve been introduced and I was introduced to a couple of weeks ago, the introducer made a comment that kind of took me off guard. He said, “We want to welcome the GOAT to our presentation today. And of course, I looked sideways, wondering who he was talking about. And of course that refers to. And I say this respectfully, the greatest of all time. I don’t think I’m the greatest of all time, but I think I offer you the scripts and dialogs to build the confidence to do what you’re supposed to do.

So how do I learn what to say? First, download all the MFO scripts. They’re all online. Everything from prospecting to prequalifying to making a presentation, to answering objections, to handling the questions that they ask and how to close the sale. Download all the MFO scripts. Read the ones you’re going to use 8 to 10 times a day for the next 10 days. So if you’re going to start by working referrals from your past clients and your database, use the past client database script. Read it out loud ten times a day to give yourself a comfortable feeling using that script. And then see, I wrote down role-play and practice that script for 30 to 45 minutes per day, five days a week for the rest of your career.

Role-play and practice is the name of the game.

Professional athletes football, baseball, golf, tennis, whatever the sport may be basketball. They spend their entire career practicing the same thing over and over and over until it becomes repetitiously boring to them, but it gives them the confidence to go out and do their job every single day. Role-play and practice is the name of the game.

And then I wrote down the fourth point under how do I learn what to say? Don’t be afraid to take the scripts with you on a presentation. If you’re in the office prospecting, headset on, you got a mirror in front of you to make sure that you’re smiling and energetic and enthusiastic, and you have your scripts posted in front of you, and you read them out loud, but you read them comfortably because you have read them time and time again, and you’ve practiced saying them time and time again.

I had a 90% closing ratio on the listing presentation to getting a contract signed.

So don’t be afraid to take the scripts with you on a listing presentation. I used to walk into the house with the scripts in my hand, with a smile on my face, and say, I’ve written down some very important questions. Would you mind if I ask them now? And the sellers would say, “Fine.” Folks. I had a 90% closing ratio on the listing presentation to getting a contract signed. That means nine times out of ten, if I had done my job prequalifying, which I was committed to doing, and I had the scripts in my hand, and I read through those questions that I wanted to ask, nine times out of ten, they signed a contract.

“Well, Mike, but did you spend time building rapport?” The strongest rapport you’re going to build is by asking the prequalifying questions. To know the party you’re talking to has the motivation, desire to do something, and then you showing up and using your scripts and making it happen. I wrote down number four, develop the habit of talking to people both on the phone and face to face. I wrote down knowing what to say will give you the confidence to talk to people. I think my strength when I was a Real Estate agent was the fact that my broker gave me a list of the eight most common objections you’ll receive on a listing presentation. And he said to me, and I’ll never forget what Patrick said to me. He said, “Today is Friday. I’m going to come back next Friday. I expect you to have an answer to every one of these objections.” I said, “Where do I get the answers?” He said, “Ask the people in the office or make up your own.” So in most cases, I just made up my own answers. Any answer you make up is better than having no answer at all. So knowing what to say will give you the confidence to talk to people every day, whether it be prospecting, prequalifying, doing lead, follow-up, making a presentation to a buyer or a seller.

The more you play it, the better you get, the higher the results.

But I wrote down second, talk to 20 to 40 people a day. Depending on the production goals you have. You have to remember that selling anything, and it doesn’t matter what you’re trying to sell, is simply a numbers game. The more you play it, the better you get, the higher the results.

But then I wrote down understand the following three words will always come into play. The word rejection. “But Mike, I can’t handle rejection.” Folks, you’ve been rejected every day of your life by the people that like you, love you, and trust you the most. If you’re married, does your spouse always do what you ask? If you have children, do your kids always do what you ask? You call your best friend and say, “Let’s have lunch tomorrow. Can we get together?” And they say, “No, I’m busy.” Do you take that personally? They have a right to be busy doing something else. Rejection.

But how about the word acceptance?

What if they start saying yes? So you call up for sale by owner. You follow the Mike Ferry script and they say, “Yes, come by today at 3:00 PM.” Are you going to be able to be prepared mentally, physically and emotionally to go by tomorrow at 3:00 PM? Because, see that is what’s going to happen. You know, you go out and you knock on doors. “My name is Mike. I’m in Real Estate. Do you want to sell your home?” And they emphatically say, “No.” You go to the second door. “My name is Mike. I’m in Real Estate. Do you want to sell your home?” And they emphatically say, “No.” You go to the third door. “My name is Mike. On Real Estate. Do you want to sell your home?” And they say “Yes.” And you look at them and you say “You’re kidding.” and you keep on going to the fourth door.

You have to learn to accept the fact that if you’re doing your job, it isn’t going to happen all the time, but it’s going to happen enough of the time to make the training you’ve gone through worthwhile.

You’re good enough to do a lot of transactions, and that comes from the confidence of knowing what to say.

But the third word is the word acceptance, because you have to learn to accept the fact that you are good enough to succeed at a high level. You’re good enough to do a lot of transactions, and that comes from the confidence of knowing what to say.

And then I wrote down this thought for everybody. Remember that even the best of the best of the best don’t win all the time. Accept the fact that if you’re playing the game every day, you’re going to have your chances to win also.

The most important thing, make a decision.

So I had I spoke at the Century 21 convention about a week and a half ago here in Las Vegas, and I was very lucky to have a really great crowd I got to speak to, and one of the people asked me after, “What do I do next?” I said, “Regarding what?” “Well, regarding working with your company.” I said, “Well, download the scripts, practice the scripts. Consider hiring a Coach.” “Mike, is it expensive to have a Coach?” “Well, there is a cost involved depending on the level of coaching, and we have three levels you could be involved in, but it’s a lot more expensive not knowing what to say and not knowing what to do.” But then on a little bit lesser cost basis, consider joining Mornings with Mike one day a week, Monday morning, 7:00 AM Pacific Standard Time. I have about 150 people that I talked to for 30 minutes giving them sales skills, sales tips, sales techniques. Most of them have been on those calls for years with me. The most important thing, make a decision. Decide that you’re going to learn what to say, and you’re going to learn what to do. And remember that knowledge always brings confidence, and ignorance always brings fear. I’ll look forward to talking to you next Monday.