Instagram AMA: 9 Q's & Answers to Grow Your Business | #TomFerryShow

TL;DR

Tom Ferry answers Instagram questions on boosting real estate business.

Transcript

• The bottom line is we've got way too many people around the world that are just walking around like a bunch of dumbasses. (upbeat music) Hey, welcome to the Tom Ferry Show. Today, I'm answering nine questions that people have been asking me on my Instagram Stories. We're gonna go from mega successful agents trying to get to the next level to bran... Read More

Key Insights

• Tom Ferry emphasizes the importance of adding resources and focusing on high-value activities to double business output.
• New agents should prioritize the number of appointments to achieve substantial growth, aiming for 175 to 200 appointments annually.
• Tripling business requires focusing on daily appointments, enhancing existing lead generation, and adding new sources.
• Using multiple channels like Facebook Live can help stand out, but a multi-channel approach is preferred.
• Breaking through sales plateaus involves improving existing processes and addressing consistent pain points and time traps.
• Leveraging a closed deal involves strategic marketing and outreach, including mailing campaigns, door-knocking, and social media.
• Mentorship is deemed essential for growth, providing guidance, direction, and ambition for success.
• Hiring an assistant is crucial when committing seriously to the business to handle non-core activities efficiently.

Questions & Answers

Q: How can I double my real estate business in 2019?

To double your real estate business, focus on adding resources like assistants or buyer's agents, and concentrate on high-value activities. Identify the best use of your time and replicate successful strategies. Acknowledge your achievements and build on them with consistent efforts.

Q: What should a new real estate agent focus on to succeed?

A new real estate agent should focus on the number of appointments they make. Setting a target of 175 to 200 appointments annually is crucial. Avoid distractions from tools and trends, and prioritize direct client interactions to build a strong foundation for success.

Q: How can I triple my business from $150,000 to $450,000 in GCI?

To triple your business, prioritize booking daily and weekly appointments, enhance existing lead generation, and add new sources. Track and measure results, add accountability, and consider hiring an assistant to manage growing client numbers efficiently.

Q: What's the best single tool to grow my business?

While a single tool approach is not recommended, if you must choose one, Facebook Live is effective for standing out. Engage audiences with regular updates and boost successful posts. However, a multi-channel strategy is advised for broader reach and impact.

Q: How do I overcome a $30 million sales plateau?

To surpass a $30 million sales plateau, improve existing processes and consistency. Add force multipliers like more lead generation and appointment setters. Address pain points and time traps by optimizing systems and delegating non-core tasks to enhance efficiency.

Q: How can I leverage my first closed deal?

Leverage your first closed deal with a strategic marketing approach: mail campaigns to nearby homes, door-knocking, asking for referrals, and using social media for exposure. Share your success story and boost visibility through targeted online campaigns to attract more clients.

Q: Are mentors necessary for success?

Mentors are considered essential for success, providing guidance, direction, and ambition. They offer insights and roadmaps for growth. Successful individuals often have multiple mentors, and mentorship should be mandatory to help individuals realize their potential and achieve their goals.

Q: When should I hire an assistant?

Hire an assistant when you decide to commit seriously to your real estate business. An assistant helps manage non-core activities, freeing you to focus on high-value tasks. This decision is crucial for scaling your business and maintaining efficiency as you grow.

Summary & Key Takeaways

• Tom Ferry addresses nine questions from Instagram, focusing on strategies to enhance real estate business performance. He emphasizes the importance of appointments, leveraging closed deals, and using social media effectively. Mentorship and hiring assistants are highlighted as crucial for sustained success.

• For new agents, Ferry suggests focusing on the number of appointments as a primary growth strategy. Established agents are advised to add resources and optimize existing processes to break through sales plateaus and achieve higher efficiency.

• Ferry advocates for a multi-channel marketing approach, with Facebook Live as a standout tool. Mentorship is considered essential, and strategic hiring is encouraged to manage time effectively. The importance of learning, earning, and transferring knowledge is also discussed.