Tom Ferry Reading Blog

My Answers to 9 Pressing Real Estate Questions – #TomFerryShow

Tweet it Out: @TomFerry I loved reading your answers to agents' questions! Very insightful! #TomFerryShow

Wow, I’m impressed! We recently used our social media channels to request your questions, and you people delivered in a big way!

I received way too many questions to answer in one sitting, but I tackled nine of them here on this episode of the Tom Ferry Show.

Be sure to watch the whole episode for tips on building a team, keys to happiness and fulfillment in your career, and much more!

I wanted to highlight three of my favorite questions here on the blog. Let’s go!

Asking the Magic Question

What is the most important question to ask a buyer the first time you speak to them on the phone?

You know I love scripts, but sometimes it’s not about a script to convert a prospect into a client. In this scenario, it’s more about what you ask yourself than what you ask them. Just stop and think about what that person needs rather than searching for some sort of “magic” question.

Chances are they called you because they want to see a house. Get them on the phone and set up a viewing as soon as fits their schedule. Whatever they want, help them achieve it as quickly and professionally as possible.

Always remember this — Give people what they want, and you’re going to win.

Face Your REAL Fears

How do I overcome the fear of success?

When someone says they have a fear of success, it’s often masking a fear of something else. Success itself doesn’t scare most people.

It’s the long hours, the sweat, the rejection, the vulnerability — it’s all the WORK required to achieve success that typically scares people.

Being successful in real estate begins with being real with yourself. If you’re not willing to endure pain that leads to growth or you don’t want to put in the hard work every day, this might not be the business for you.

It’s okay to admit that doing the things that will make you successful both personally and professionally tend to make you feel uncomfortable. You’d be a rare breed if you can achieve huge success without ever stepping out of your comfort zone.

But let’s consider the alternative: Failure is also very uncomfortable. Not being able to pay your mortgage is uncomfortable. Falling behind on your bills is uncomfortable.

So it boils down to this: Which uncomfortable scenario is going to do you the most good?

As long as you’re getting out of your comfort zone, why not choose the route that makes you money and helps you grow into a more fulfilled individual?

4 Steps to New Agent Success

What’s your best advice for those with 1-3 years in real estate business?

I get it. You feel new, maybe a little bit lost. Maybe A LOT lost. Here’s the first key to remember: Everyone was new in this business at one point. We’ve all been there. Once you accept that fact, put these four tips to use:

1. Commit to Club 13

87% of agents fail before they reach five years in real estate. So the first step to your success is making a commitment to doing what it takes to survive for the long run and securing your spot in the 13% club.

2. Answer Your “Why?”

Identifying your motivation is the next essential step on your path to success. Building a successful real estate business means taking on the role and responsibilities of being the CEO of your own business. It’s a huge undertaking. Are you ready? You’ve gotta be IN IT 100%.

3. Don’t Be a Sprinter. Become a Marathon Runner.

Success in real estate is never about making a quick buck. It’s about doing the things today that set you up for a prosperous future — three months, one year, two years, five years, 15 years down the road.

One of the greatest pieces of advice I ever received came when my mentor, Bill Mitchell, told me: “Never chase money.” He said success is about becoming the kind of person who provides so much value to the marketplace that the money follows you. Your income is in direct correlation to the value you deliver. Play for the long haul.

4. Talk to People Every Day

At the end of the day, real estate can be a pretty simple business. Whoever talks to the most people wins. Make sure you talk to people every day. Deliver value to them. Ask them if they want help. Close them and get those appointments! The biggest reason agents fail is because they don’t talk to anybody.

It was a lot of fun reading and answering these questions. We’ll have to do it again soon.

In the meantime, I’d love to know at least one thing you learned or found valuable from this episode. Share your thoughts below!

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