- Today I'm doing a private coaching session with you,
trying to make sure you learn the lessons from Q1,
and that you dominate Q2.
(bright music)
Welcome to The Tom Ferry Show.
Today I'd love to coach you through what worked,
what didn't and what you're gonna do differently in Q2
to make 2018 your best year ever.
So, I'm gonna ask you a whole bunch of questions.
If you're on tomferry.com you're gonna see a link down there
to a form where you can actually do this Q1 review,
and then a goal setting workshop.
If you're on the train right now,
or you're on the treadmill running and you're watching,
take the time just to answer all the questions.
You know, go through them in your mind.
Maybe even take the time and hit the pause button,
or better yet, watch it six or seven times,
and let it really sink in.
I'd like to frame it like this.
If you and I were sitting together inside my office,
what would I ask you?
So I wrote down the first question is,
tell me, what was your original goal for 2018?
As we sit here, you know, in April,
what was your original goal?
What did you wanna accomplish?
What were you committed to?
How many transactions?
How much revenue?
What was the dollar volume?
Was there something like I wanna take this many listings,
or I wanna have this breakthrough in my business?
What was the original commitment that you made?
And then the second question I would ask you is why?
Why was that goal a must for you?
Like what was the motivation behind it, right?
It's never, hey I wanna make $250,000, right.
That's a big exciting number,
but what's the value behind that?
You know, hey Tom.
I really wanna pay for my daughter's wedding,
or I wanna save some money and buy my first home,
or we're looking to move, or whatever it may be.
Your motive to act matters.
And if you take the time right now to think about,
what motivating me when I first set this intention?
As you hear me talk about on multiple shows,
we sometimes lose sight or we don't remind ourselves
enough of our motivation or why,
and that's why we stop doing the things
that ultimately give us the power.
So the first two questions.
Number one.
What was your original commitment?
What was your original for this year?
And number two.
Why was it a must?
What was your motivation behind that?
I don't wanna hear, oh I just wanna make a bunch of money.
I wanna know why you wanted to make the money.
You know, if you said I wanna sell 50 homes
or 100 homes, I wanna know why.
What does that mean to you?
What's the value behind it?
What's the emotion behind it?
'Cause that's ultimately what's gonna drive you,
again, to do the things that'll make you achieve the goal.
The third thing I wrote down is
we're gonna break down it again,
you gotta go to tomferry.com.
You wanna download all of this,
'cause I'm gonna ask you to break down for me,
what were your results in Q1?
So the first part is how many
close transactions did you have?
Like, be honest with yourself.
Was it a slow first quarter?
Was it a great first quarter?
How many closings?
What was the sells volume and what was the GCI?
Then I'm gonna ask you what about your pendings, right?
Could be escrows, could be pendings,
depending on what you call them, right,
but how many do you have right now,
and what's the volume and what's the GCI?
And then we like to total all that up to say,
hey at the end of Q1, my total close and pending is A, B, C.
You should know those numbers, but here's the real trick
is to then say, now how does that relate to my overall goal?
Right?
If you're in the northeast as an example,
a lot of my clients there will say,
Tom I wanna get to 15% to 18% of my overall goal,
and if I'm there at the end
of the first quarter I'm on track, right,
but maybe you're in a marketplace like Southern California,
or you're in Vancouver, Washington where you say,
I've gotta really make it rain in first quarter,
because my summer months as an example,
they slow down and everybody checks out.
You know the tempo of your market, so you know at this point
what percentage your business should be at
by the end of the first quarter, so just own that.
Then I would ask you going a little deeper,
how many appointments did you go on?
Now I don't know how many times I have to say to you
that this business is about one thing,
how many appointments you go on.
How many opportunities you sit down,
belly to belly, knee to knee, face to face
with potential buyers and potential sellers, right.
I've always said I rather have 10 lousy appointments
then no appointments 'cause someone just might say yes.
How many appointments did you go on in the first quarter?
Was it the right number for you?
Do you feel it was too many, too little?
Only you know.
Then I wrote down what percentage
of that was that to your plan?
You know, did you intend to go on 20 appointments
and went on 15 or did you intend
to go on 20 and went on 35 or 40.
Once I know the numbers, then I'd ask you what happened?
Like, what were the levers you pulled,
or what were the levers you failed to pull?
Speaking of, I go right to next one.
How many hours of power?
How many times did you sit down and make your phone calls?
Calling your database.
Calling expired.
You know me.
I'm the no wrong way to do it guy.
I don't care who it was, but I know this,
if you're not picking up that phone,
and reaching out to customers,
making phone calls, sending texts and more,
you're missing more opportunities than you're getting.
So, in your plan you probably said,
hey I'm gonna do an hour a day five days a week.
Did you track it?
How many numbers did you do?
It's interesting to me because I've been doing this
for so long I can now look at somebody's numbers.
Let's just say you were tracking all this stuff perfectly,
and I look and say well isn't this interesting.
You did 75% of your prospecting and appointments,
and you're at 65% of your overall transactions.
There's always a direct correlation my friend.
There's always a direct correlation.
It's data in, data out.
If you don't make the calls, if you don't do the follow up,
if you don't do the open houses, you shouldn't be expecting
lots of success and riches, my friend.
It doesn't work that way.
Now, Tom I don't really like prospecting.
Hey, this could be open houses.
This could be Zillow leads.
This could be any source you want,
but if you're not pumping the well, if you will,
the water's not gonna come out.
So, think about it right now for Q1.
Did you make the calls you're supposed to make,
or did you miss a few days?
I'm not trying to beat you up.
I'm just trying you to really acknowledge
what got you here is not gonna get you there.
You're gonna have to do something differently in Q2,
and the great news is, there's still time.
The next question I'd ask you is what lead systems worked?
As you reflect and look at your closing board,
or your escrow or your pending board, what were the sources?
Open houses, Zillow lead, buyer referral, past client,
past client direct transaction, past client referral.
Knowing your sources, where did you spend your time?
What worked, and then the third part is
or the next part is what didn't work?
What were the lead sources that you wrote inside your plan?
And maybe A haven't given yourself enough time
for them to mature and bake,
or you just didn't give it the energy
and the effort that it deserved.
So let's go through those again.
How many hours of power, right?
How many conversations did you have?
How many open houses did you do?
What lead systems worked for you?
Like, where did it work for you?
And then what lead systems need to be improved on?
You know if you just stop and answer all those questions,
awareness as we talked about a million times
is the first part of change.
The moment you could say I have this really exciting goal.
I've got this motivation.
I really wanna save this money.
I really wanna take this trip.
I wanna support my family.
Whatever it may be, right.
I've got the motivation, but if I didn't do the work,
if I didn't do the numbers, if I didn't do the math,
then guess what, shame on you.
Okay, so three more questions before we wrap up Q1.
Question I would ask you is what are you most proud of?
As you reflect back on Q1, like where do you pinch yourself
and say oh good job, you did it?
Was it you did hours of prospecting?
Was it you did the right number of open houses?
Is it projects that you completed?
Is it a tough transaction that you were able
to navigate and ultimately save the day
for the buyer and the seller?
What are you most proud of?
Question number two.
Where did you fall short and what was the lesson?
I think about our own business.
I say, hey we fell short of part of our Q1 goal.
We have moments like that where we don't hit the goal.
The key is when you lose, what was the lesson?
See I know for me, it was a manpower issue.
We needed more people to follow up on leads,
and to book more appointments, and to serve more clients.
How 'bout you?
What were the lessons that you learned
just reflecting back on the last 90 days?
And then the third question is,
who do you need to thank for their support in Q1?
You know it's always a good idea to send a handwritten note,
or make a phone call, or shoot a little video
and say Carol I just wanna say thank you so much
for everything you've done, right,
which I really appreciate the extra effort.
You know, reaching out to your coach,
reaching out to your broker manager,
reaching out to your mortgage rep, your title rep,
and just thanking them for going the extra mile,
maybe on that tough transaction.
It goes a long way and I strongly recommend it.
Once you take the time to answer all those questions,
you can package up Q1 and say now that's the past, right.
I learned the lessons.
I know what I did right.
I know what I need to adjust on.
And then we start setting goals for Q2.
So let's take some time and do that.
Obviously I'm gonna start number one
with what are your production goals?
What do you wanna accomplish?
So how many listing appointments?
How many listings do you wanna take?
And how many listings do you wanna sell in Q2?
It's the spring market, my friend.
Now is the time.
So, how many listing appointments?
How many listings taken?
How many listings sold?
And on the flip side, how many buyer appointments?
And how many buyer sells are you committed to in Q2?
I'm gonna strongly recommend you get
that up visual inside of your office,
so it is always in front of you
every single day you show up.
This is my goal.
This is what I'm committed to.
Then I'm gonna ask you number two.
What's the why behind that?
Like, what's different now?
What's your motivation today?
Sometimes it changes.
Sometimes we need that short burst of motivation.
So what's gonna give you the extra edge in Q2
to do some of the things that perhaps you didn't do in Q1
that's gonna cause you to win?
So what's your motivation right now?
Question number three.
What new activities are required?
So what are the tactics?
What are the actions you have to take, right?
Is it you know doing more lead follow up?
Is it maybe doing follow up twice a day
like we've recommended on many shows?
Is it finally reaching back out to your database
and saying hey I know it's been awhile.
The market's been crazy.
I gotta ask have you had any thoughts of selling?
You know your business.
You know what works and what doesn't.
I would challenge to say, what do you need to be doing
more of in Q2 that's gonna cause you to win?
The fourth question I wrote down is,
what adjustments do you need to make to your schedule?
I mean, we've done tens of shows
that were time management related on The Tom Ferry Show.
We know if it's not in your schedule, it doesn't exist.
So in Q2, do you need to go to bed a little earlier?
Do you need to wake up a little earlier?
Do you need to reinvent your morning routine?
Do you need to make sure that
your hour of power is schedule every day?
Your follow up is scheduled every day?
Do you need to pre-put in there a one o'clock,
three o'clock, five o'clock appointment,
and then work your butt off
to fill those every single day?
Do you need a scheduled day off
to give yourself the rest and the break that you need
so you can hard charge the rest of the time?
What adjustments do you need to make to your schedule
to make sure you're winning in Q2?
And the last question I'd asked is,
why, again, why is this an absolute must?
You're like, Tom, you brought it up twice.
I know but here's what I'm seeing right now.
I'm watching agents.
Big shout out to Jill Biggs,
one of our wonderful Coldwell Banker clients.
She's at 110 transactions closed
and pending at the end of Q1.
I'm looking at my buddy Devin here from Hawaii.
110 transactions at the end of Q1.
Guess what?
That's way more than she did last year.
Big shout out to you Jill and the whole team.
Motive matters, right.
If you had a really big Q1 and all of a sudden
you're like hey I'm hot stuff, I had a really big Q1.
Often times in that state, we stop doing what got us there.
You gotta go back to that motivation.
Why is it a must for you?
Now, I've asked you a whole bunch of questions.
If we were together one on one,
I'd start asking you to make commitments.
What's that one thing I can count on for you every day?
What's the additional accountability you're gonna need?
Who do you need to reach out to?
Is it your coach?
Is it your broker manager?
Is it a friend inside your office?
Is it your spouse?
Is it your nine year old son?
If you say look, if I do what I'm supposed to do,
you get the brand new X-Box at the end of the 90 days,
I have a feeling that nine year old is gonna
follow up on you every single day,
and hold you accountable to do the things
that give you the power.
You and I both know if you don't have
the accountability in place, the odds are,
you're gonna get a little off track,
and it's gonna be hard to get back on track.
So create some accountability,
whether it's friend or family or your peers,
make a challenge with somebody inside the office,
but make sure you got the structure in place in Q2
to absolutely maximize this time.
You've heard me say it before,
the streets are paved with gold right now.
This is the time.
So, make sure if you're watching this on YouTube,
you jump back to tomferry.com on my blog,
download all these questions.
Take the time, fill them, answer it in detail,
share it with your manager,
share it with a friend inside the office,
and let's make sure that you have
everything you need in place to have 2018
be your best year ever.
Thank you for allowing me to coach you today.
Thank you for being in my community.
Thank you for watching my stuff.
I appreciate you more than you will ever know.
Talk soon.
Hey, it's Coach Tom Ferry.
Have you been considering hiring a coach?
If so, click the link below and check out what we do.
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