How to Develop a Six Figure Income in Real Estate: Superstar Selling the Mike Ferry Way

Rating:
Summary: The BEST BOOK on how to make money
Review: This is a great book for anyone starting out in real estate. But be warned it requires committment from you. Changed my life and my career. It helps you get what you want, in the time you want, won't that be nice?

Rating:
Summary: The BEST BOOK on how to make money
Review: This is a great book for anyone starting out in real estate. But be warned it requires committment from you. Changed my life and my career. It helps you get what you want, in the time you want, won't that be nice?

Rating:
Summary: A must to read if you are serious about selling real estate!
Review: This is a super charged book that will change your life and the way you think about selling real estate!

Rating:
Summary: Best Practices Detailed for Real Estate Brokers
Review: While there are many good books about being a successful real estate broker, this one stands above the rest for helping you create a real estate brokerage business. Mr. Ferry has a business process in mind that allows you to be more effective with your time and money, and to reinvest some of that time and money to create even greater results. Mr. Ferry has been a successful broker, and has been a top trainer in the field (based on those experiences) for many years.

Only the top 3-4 percent or so of brokers made six figure incomes when this book was written, and this book is squarely focused on how to get you into that narrow area. I think this book will be of most value to those who want to make a high income, and are excited about trying new techniques to make themselves more effective.

Although I do not practice as a real estate broker (although I am licensed), this book fits my understanding of how that business works. The most productive parts are when you get a listing or make a sale. Mr. Ferry shows you how to get more listings in time and cost efficient ways, and to have the way you get those listings help you make sales more easily.

Here's what he has to say about this process: "It's not uncommon to see a salesperson's production double within months after starting to use the tools given here." " . . . [T]reat your real estate career as a busines. You can then use proven techniques for increasing your productivity."

The introduction gets the book off to a fast start with excellent ideas for setting goals for your psychological, spiritual, family, physical, and financial success. He then encourages you to create action plans for each goal area, and to start taking action in the first five minutes after writing the plans. People with written goals and plans like these outperform the rest of the world routinely. He also encourages you to break your old habits, to ask for help where it is needed, to be sure you understand what you should be doing, and to keep going whenever you get something to work. In this way, he wants you to create excitement that will overcome whatever procrastination you may have.

Willie Sutton said that he robbed banks because that was where the money was. Real estate brokers have to ask real estate owners about their plans to sell and buy all of the time -- that's where the real estate transactions are. He describes how to do this if you have a natural community to draw on (like your church or club). He also encourages you to try cold-call door knocking, and compare the results. For many new brokers, the cold-call door knocking will work faster and be less expensive. After you are more successful, you can hire someone to help you with this through mailings and telemarketing. He encourages you to do this prospecting all of the time. A recommended target is For Sale By Owner properties (most will eventually hire a broker). Expired listings are also a good source of new listings. You will find many scripts to help you with these contacts.

Once you have a lot of listings, you will make a lot of sales. Good processes for working with buyers are described here as well.

Once you have a lot of sales, it's easier to get listings because you can promote how many sales you make. Sellers are looking for top sellers!

Many brokers will be uncomfortable with his advice. But you can probably rewrite the scripts so that they feel authentic coming from you. That will also help you with procrastination, if you are like me.

He offers several plans for getting started. I suggest that you try one that is for an activity level you can stick with.

Chapter 12 has a number of examples of people who are getting great results. I found those examples particularly helpful, because it made it clear to me that you don't have to be a Mike Ferry clone to have more time for yourself, more self-esteem, more control in your life, and more income.

Good luck with improving your real estate business!

After you have been using his process for 90 days, I suggest that you take a look at where you have been most successful in getting listings and do more of that. Also, analyze the places where you have been less successful by asking those who turned you down how you could have improved in approaching them. If you do this every 90 days, you should get even better results!

Rating:
Summary: Best Practices Detailed for Real Estate Brokers
Review: While there are many good books about being a successful real estate broker, this one stands above the rest for helping you create a real estate brokerage business. Mr. Ferry has a business process in mind that allows you to be more effective with your time and money, and to reinvest some of that time and money to create even greater results. Mr. Ferry has been a successful broker, and has been a top trainer in the field (based on those experiences) for many years.

Only the top 3-4 percent or so of brokers made six figure incomes when this book was written, and this book is squarely focused on how to get you into that narrow area. I think this book will be of most value to those who want to make a high income, and are excited about trying new techniques to make themselves more effective.

Although I do not practice as a real estate broker (although I am licensed), this book fits my understanding of how that business works. The most productive parts are when you get a listing or make a sale. Mr. Ferry shows you how to get more listings in time and cost efficient ways, and to have the way you get those listings help you make sales more easily.

Here's what he has to say about this process: "It's not uncommon to see a salesperson's production double within months after starting to use the tools given here." " . . . [T]reat your real estate career as a busines. You can then use proven techniques for increasing your productivity."

The introduction gets the book off to a fast start with excellent ideas for setting goals for your psychological, spiritual, family, physical, and financial success. He then encourages you to create action plans for each goal area, and to start taking action in the first five minutes after writing the plans. People with written goals and plans like these outperform the rest of the world routinely. He also encourages you to break your old habits, to ask for help where it is needed, to be sure you understand what you should be doing, and to keep going whenever you get something to work. In this way, he wants you to create excitement that will overcome whatever procrastination you may have.

Willie Sutton said that he robbed banks because that was where the money was. Real estate brokers have to ask real estate owners about their plans to sell and buy all of the time -- that's where the real estate transactions are. He describes how to do this if you have a natural community to draw on (like your church or club). He also encourages you to try cold-call door knocking, and compare the results. For many new brokers, the cold-call door knocking will work faster and be less expensive. After you are more successful, you can hire someone to help you with this through mailings and telemarketing. He encourages you to do this prospecting all of the time. A recommended target is For Sale By Owner properties (most will eventually hire a broker). Expired listings are also a good source of new listings. You will find many scripts to help you with these contacts.

Once you have a lot of listings, you will make a lot of sales. Good processes for working with buyers are described here as well.

Once you have a lot of sales, it's easier to get listings because you can promote how many sales you make. Sellers are looking for top sellers!

Many brokers will be uncomfortable with his advice. But you can probably rewrite the scripts so that they feel authentic coming from you. That will also help you with procrastination, if you are like me.

He offers several plans for getting started. I suggest that you try one that is for an activity level you can stick with.

Chapter 12 has a number of examples of people who are getting great results. I found those examples particularly helpful, because it made it clear to me that you don't have to be a Mike Ferry clone to have more time for yourself, more self-esteem, more control in your life, and more income.

Good luck with improving your real estate business!

After you have been using his process for 90 days, I suggest that you take a look at where you have been most successful in getting listings and do more of that. Also, analyze the places where you have been less successful by asking those who turned you down how you could have improved in approaching them. If you do this every 90 days, you should get even better results!