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Tom Ferry – Navigating The Year of ‘FIVE’: Legal Dramas, Social Media Mastery & AI Insights

Tom Ferry is the founder and CEO of Tom Ferry International, the real estate industry’s leading coaching and training company. Tom is recognized for his expertise in the real estate industry and has gained popularity for providing coaching services to real estate professionals, helping them improve their skills, grow their businesses, and achieve success in the competitive real estate market.

With his finger on the pulse of what is currently happening in the industry, his coaching programs often cover a range of topics, including sales strategies, marketing techniques, and overall business development for real estate agents and brokers. On this episode we covered the following topics:

2024 Is The Year Of “FIVE”
Tom Ferry Talks About The Legal Drama & Lawsuits Over Real Estate Commissions
Tom Ferry Talks About The N.A.R. Drama
The Future Of Real Estate & A.I.
What The Best Agents Are Doing On Social Media Right Now!
TBA How To Get More Listings
The One Text That Will Generate More Listings
The Hottest Email To Generate More Listings In 2024
The Importance Of Coaching & Training

Every week, the RUN GPG Podcast aims to provide inspirational stories from people who made a mark in entrepreneurship, entertainment, personal development, and the real estate industry. It is produced by the GREATER PROPERTY GROUP to help the audience grow and scale their business and their life.

Know more about GREATER PROPERTY GROUP and the RUN GPG Podcast by going to or by getting in touch with us here.

Contact Tom Ferry:

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Welcome to the RUN GPG podcast. I’m your host, David Morrell, and I’m very excited to be back this week with another timely interview, especially. If you’re a real estate professional, if you’re an agent, a broker or involved in the industry in any way, and that’s because we welcome back Tom Ferry to the show.

Now, Tom, as you may or may not know, is the founder and CEO of Tom Ferry International, the real estate industry’s leading coaching and training company. Now, as I mentioned, this was a really conveniently timed episode, and that’s because we covered some very hot button issues in the industry currently.

Like the legal drama and lawsuits around agent commissions. We talked about the NAR issues. We talked about AI and technology. And of course, Tom had some very valuable suggestions and coaching for anyone wanting to do more business this year. As always, Tom brought the heat and I thought this was a very engaging and conversational interview and discussion.

I really enjoyed it and I cannot wait for you to hear it. I would also like to add that this episode as always is brought to you by the Greater Property Group Real Estate Brokerage. If you’re an agent or a team and you’re curious about what the GPG is doing to help our agents grow and scale the real estate business in a changing industry, make sure you reach out for a no obligation consultation by going to greaterpropertygroup.

com slash careers or email info at greaterpropertygroup. com. Again, that’s info at greaterpropertygroup. com. Additionally, you’ll want to pay attention to the Greater Property Group’s Mastermind series. Every second Tuesday, the GPG hosts an industry wide mastermind with some incredible training and coaching as well as some very notable guest speakers.

Again, these are industry wide webinars over Zoom. They’re completely free with guest speakers and trainers that include Grant Cardone, Jay Abraham, Ryan Surhan, Tom Ferry, Chris Voss, Robert Kiyosaki, and many, many more. Again, these are free, but you do have to register. You can do that and check out any upcoming events in Masterminds by going to gpg mastermind

Again, that’s gpg mastermind All right, let’s get into it. This is my conversation with Tom Ferry.

Our guest today is Tom Ferry. He is the founder and CEO of Tom Ferry International, the real estate industry’s leading coaching and training company. Now, if you didn’t know already, Tom is recognized for his expertise in the real estate industry and has gained popularity for providing coaching services to real estate professionals, helping them improve their skills.

grow their businesses and achieve success in the competitive real estate industry. With his finger on the pulse of what is currently happening, his coaching program often covers a range of topics, including sales strategies, marketing techniques, and overall business development for real estate agents and brokers.

Tom, it’s great to see you again. Welcome to the RUN GPG podcast. Hey David, thank you so much and happy new Year, man. Yeah, yeah. It’s good to see you. excited to have you on today. it’s been a minute. Yeah. since you were last on, and, I know when we were setting this up and we were kind of, I think we were texting back and forth and we agreed that there’s a lot that’s taken place over the last couple years.

Yeah. in the industry. Certainly in the last year and last few months outside of the market itself. You know, there’s a number of topics, you know, we’ve got AI and technology blowing up, you know, the industry we’ve got, you know, the legal issues in some areas, the NAR situation, so many topics. So it’s great to have you here specifically to make sense of it all.

Right. And to get your perspective. I don’t know if I make it sense, David, but I will certainly, I, I have, I have opinions and insights for sure. That’s exactly what we’re looking for. So, you know, as we did say, you do have your finger on the pulse. So, if we could start with some broad stroke thoughts, if that’s okay with you, want to start by talking about the current market conditions themselves.

Like you do coach some of the highest producing agents and teams in North America. So from your perspective, What are you seeing right now with the current real estate market, the trend specifically in both Canada and the United States, like what’s happening overall, like, does anything feel different about 2024?

So a lot feels different. 2023 was, you know, again, I had a lot of clients that did very well in 2023, but you know, you look at the numbers, you know, us and Canada, we were dramatically down on transactions. Interest rates playing a major factor in both countries and truthfully, you know, David around the world, right?

My clients in Mexico, my clients are at Europe, Australia, et cetera. So, you know, it was a, it was a challenging year, but you know, one of the things I know for, you know, you know, this as an entrepreneur, I know this, and I know your listeners certainly knows this. Is business is just about problems, right? So the real game of business is to find opportunity when everybody else is freaking out to find, you know, the nugget of truth, the, the way to serve, right?

The new business you could start or the new, you know, solution you could provide. So, you know, if you’re listening to the audio, I hope you like, you can sense like I’m smiling as I’m saying this, right? I’ve been in the business for 34 years, right? the number of times I’ve been punched in the face and turned around and came out swinging with a new solution, a new approach, a new insight is, you know, I mean, it’s three or four times a year.

Every entrepreneur should have that. So I guess with that said, you know, it’s harder sometimes to get the stats, as you know, in Canada. So I’m going to give you, you know, sort of a, typically it’s the 10 percent rule us to Canada. So if we stayed with that, here’s what we know in the U S right now, it’s the year of five.

Transcribed It’s the year of five. Now, I wish it was 2025, but it’s not. It’s the year of five, and what I mean by that is my friends at KCM, Keeping Current Matters, who really stay on the pulse in terms of, you know, thousands of articles every single month in terms of what’s happening in residential real estate.

What is, not the zeitgeist, but like the tactical, here’s the things you should be sharing with your customers today to be the knowledge broker. They’re saying, and I agree 100%, year of five. 5 percent interest rates by the time we get to the summer months. And now there’s a lot to unpack just inside that.

The second one of course is 5. 5 million individual units sold, so 11 million commission opportunities in the U. S. And if we stay with the 10 percent rule in Canada, we know that that is a bountiful year. You know, things are going in the right direction. If you look at that and you say, okay, all that sounds great.

What’s the other five? It’s 5 percent appreciation across the board. Right. So again, you and I both know if you’re in Montreal, it’s going to be different. If you’re in Calgary, it’s going to be different. If you’re in Vancouver, it’s different. If you’re in Miami, it’s different. So it’s always about knowing your local marketplace.

But when you look vastly across, you know, our two countries. Everybody’s saying the same thing. It’s going to be better. Here’s the hook in the US. We have an election cycle. There’s a lot of talk and speculation of, you know, do we do better in election cycle, worse in election cycle? My response is who cares, right?

The great agents do their best every year, no matter what. But what we have is these four converging forces. You’ve got the election cycle and all that means is, and you guys will get in Canada next year. Right? Like it’s, so you, you know what I’m talking about. It just gets noisy. Yeah. So what I’m telling everybody is if you’re not over indexing on marketing and lead generation, you’re in trouble, right?

If you’re not, like if you were going to say how it’s going to do a real on Instagram once a week, I’d be like, don’t even do it. You, you need to go every day because first of all, we know you’re only going to touch 1 percent of the people that are actually following you anyway. Thanks Metta. But at the end of the day, like you got to put out more content because it’s just gets noisy.

The second thing of course is the rates. The third thing is buyer demand, right? And you’re seeing it in Canada. You’re probably seeing it in Mexico. I’m certainly seeing it everywhere. Like the pent up demand is enormous. Right. And, and there’s so many people that talk about data on this, you know, is it, you know, from 2007, eight, nine, 10, is it because we didn’t build, you know, enough homes it’s because the builders were in trouble.

So were we 2 million units behind or 7 million units? We know there’s not enough, right? We just know there’s not enough. Certainly when you’re looking at the first time buyers, the amount of millennials that are coming in the marketplace, there just isn’t enough inventory. But the other big one, and hopefully we’ll unpack it today is if we don’t list enough houses, we’re all done.

That to me is the next major factor. And, and David, I’ve been in this discussion with my clients, I want to say for four or five years, some of it because of the lawsuits, right? List to last is cliche, but it’s true. Right? So, so I don’t know if that gives you some insight, like I’m very bullish on this year.

I think it’s going to be geometrically better than 2023. 2023 goes down on record is like, you know, one of the worst in like. Yeah. Oh man, I, I really appreciate that breakdown that there’s a lot to unpack there and I do want to get to some specifics in there. You did talk about some like regional nuances, you know, it’s different in different marketplaces.

We noticed that, you know, being across Canada, it’s different in Toronto than it is in Calgary and Edmonton. Yeah. We, we’ve seen that. So coaching question, like, does your coaching change based on regional nuances or are the coaching principles the same? Yeah. No, I mean, case in point. So I still coach some personal clients.

I mean, we have, you know, 15, 000 clients around the world. So I’m, I need to keep my finger on the pulse. So whether it is answering questions, you know, with clients or seeing clients at events and always being engaged or surveys and all those kinds of things. but like case in point yesterday, I was talking to one of my clients in Southwest Florida.

Well, if you’re in Southwest Florida, you’re like, The season started in October. So October, November, December, January, February, March, like she needs to make all of her money, her, you know, 400 plus transactions, 70 percent of them will be done in those six months. That’s very different from talking to my client in Boston, who, you know, she’s trying to grow her team Ridge, her brokerage, but she RUNs it as a team.

And so the seasonality play there is, Hey, how many listings can we get? active and then how big of a pipeline can we get? Because come March 15th, April 1st, when it thaws out, the wheels come off. So the answer is country by country, city by city, state by state. But also David, I think, you know, it’s person by person, you know, just, just because you’re doing one thing that is remarkably successful.

Yes, there is some, you know, the cliche statement successfully is clues. But if I take that same exact email and I just automatically adopted to somebody else’s email address list, if they don’t nurture the way you nurture, if they don’t communicate the way you communicate and they come out with something that is maybe too aggressive of a CTA, as an example, they could turn off 10 or 15 percent of their database.

So, so again, yeah, there’s a lot of plays that work, but it’s about finding the right plays. For the person listening right now. Love it. Okay. Moving along now, you know, one of the really big topics you touched on it and I mean, it’s always a topic for, you know, discussion around real estate, but especially right now it’s a conversation around inflation, interest rates, affordability.

That’s been a big topic. And this is important to understand because these are the. conversations that agents are having with their clients every day. So given, you know, the fluctuating interest rates, how do you foresee affordability impact in the housing market this year and what strategies can real estate professionals use to navigate the challenge or what should they be telling their clients?

You know, the challenges for an individual agent, there is, there’s some marketing tactics you can take, but there’s nothing an individual agent is going to do about affordability. I have, I have friends that are working on, you know, in the U S some, some broad new legislation that maybe could bring back to the market, 500, 000 homes, you know, a million homes that are currently owned by, you know, individual investors, you know, like myself, like if you just case in point, if suddenly you said to myself or my step mom who owns a lot of SFRs as an example, Hey, no cap gains.

If you sell your SFRs in the next, you know, two years, that would just make a ton of sense. Right? Like, I don’t know if I’d sell everything, but I’d probably sell a bunch, right? So hopefully we’ll see in both of our countries some legislation that makes that happen. The fundamental challenge that we have is, it’s people want to live, for example, where my son is in Hoboken, New Jersey.

Well, you know, my wife is looking for property there and, you know, she’s, he’s searching for houses for his buyers. So my wife is helping with the search, right? Typical, you know, mama bear. And she’s like, it’s so densely populated here. I’m like, yes. Cause it’s, you know, right across the Hudson, right to New York city.

Everybody wants to live there. Frank Sinatra is from there. I don’t know. That’s the home of Frank Sinatra. Frank Sinatra. How do you, you know, how do you solve. densely populated without saying vertical. So, you know, so we’re seeing more and more vertical, but if you go to Boston or you go to Toronto, there’s already enough vertical living.

So what happens is we have to solve for how do people get outside of the major city centers where there is land available. And now we get into transportation. And the reality is David, like I’m no expert on this stuff, but all that stuff sounds like it takes. A decade or two, a decade or two. So the short term thing is, here’s what I’m telling people.

Why don’t you get, like, if you’re in the U. S. and I know, you know, there’s different ways you can pipe in here on, in, in Canada, if I was in the U. S., I would go to, like, my title rep and I would say, I’d like you to pull me a report of every home in our county that is currently an SFR, single family residence, but the land is zoned for two, three, four, five.

And I would literally create a campaign of knocking on their doors. I probably have an offer written like Ready to go. Like David, I would love to buy your home, fill in the price because it almost doesn’t matter what you buy it for. If you buy that house and you scrape it and you partner with a builder or two and you build two units, three units, four units, five units, you’re going to kill it.

So I’m seeing agents do that. My client, big shout out to Jim Allen, who’s in the Carolinas. Jim has been doing this for the last decade and a half. I live in Dallas today. When you go, like, I’m, I’m like in downtown, right? If I go South Dallas. I look on an app called land glide and I see billionaires buying up as much land as they can because they know if you’re in Dallas, they already went north.

If they go any farther north, they’ll be building houses in Oklahoma and calling them Dallas, right? You can only go a little bit east because you’re into Louisiana. You can only go so far west, right? If you go west Texas, I mean, it’s just tumbleweeds, right? Like, so there’s going to be opportunity, but you’re only going to go so far.

The south is an enormous opportunity. So I would say to the listener. Are you paying attention to like, where are the, I don’t mean opportunity zone from a taxation standpoint, but where are the opportunity zones in your area? And where could you become the agent? Become the partner, become the person that finds the land, becomes the person that finds, hey, this, this lot is zoned for four and there’s one house on it.

If you could do that, you could single handedly make a difference. Does that make sense? Yeah, it really does. we’re seeing some interesting things happen with legislation and, you know, you know, BC, Vancouver in particular, Victoria has had some inventory crisis for real and, you know, so that. Right.

You know, the government is saying, okay, we’re going to get rid of Airbnbs now and that’ll flood the market. That’s what it’s, it’s a disaster actually what’s happening there. You know, sometimes it’s their primary income for a lot of people and like that. So we’re going to see some interesting things, which actually leads me to my next question.

I’m always kind of fascinated and obsessed with kind of going through the. process of a real estate transaction from the perspective of a consumer, a buyer or seller, because I think that dictates the way you want to market, you know, demographics and things like, and I don’t think agents do that enough.

Sometimes I think agents take a look at what others are doing or what can I do or did it just walk through the process as a consumer because they’re not on the inside, you know, they’re not in the industry. So I don’t know if you pay attention to this, but how have you seen consumer preferences in the industry change or evolve over the last couple of years and what adjustments.

should agents be making to, you know, meet the challenges and needs of and expectations of buyers and sellers? You know, when you look at the buy side, you know what people want? They want certainty and they want like, I’m going to a recent survey that they had done. this was, I think it came out in November of last year and you know, the biggest thing they wanted was protect me.

Protect me. Like that was the standout insight. So, so I have been of the opinion or I think I did this in 2019, maybe 2018. I said, the consumer is, is changing. And if we get ahead of the change, if we start marketing the way consumers want to understand our business, we’re going to do better. And one of those things was market your processes over your product.

Yeah. Yeah. Here’s listings. But I can get listings from realtor. ca. I can get, you know, Holmes, Realtor, you know, on and on, RedZillow, I can get listings anywhere. But what I want to know is, do you have a better process? So from 2018, 2019, when we started talking about that, that’s been the big lift for a lot of smart agents.

Now I’m going to take it one step further and say in the U. S. with the lawsuits, certain states already got ahead of this and said, you can’t write an offer without buyer agency. Right. So like that was a smart move for two weeks in the state of Washington. People freaked out. And then that was, I think it also included Oregon.

People were freaked out, but David, very quickly they realized, okay, I got a buyer that wants to buy. They’re, they’re with me. Let’s go. Yeah. But from there, now what we’re seeing is agents are really paying attention to the level of service that they’re providing, how they are winning over clients from the very beginning.

So yes. For five years, we’ve talked about buyer agency and buyer brokerage agreements and how you should sit down with the customer and say, this is a great line. Hey, David, has anybody taken the time to show you the contract? And some of the, some of the pitfalls that, you know, mistakes that some buyers make when buying a home.

Has anybody said, no, whether they’re a first time buyer or the average consumer buying a house every 10 years, that’s a good idea. Has anybody walked you through how an agent gets paid? Has anybody walked you through how an agent gets paid? Has anybody walked you through what I call the sausage making or how we actually close the transaction?

And, you know, we’ve all talked about the pizza box app and all this stuff, but I think having a visual display and then David, I’ll send this to you and you can share it with your users. A lot of my clients have said, are you aware that there’s 27 different negotiation points? that I need to protect you with as we’re doing this transaction and then publishing the list of the 27.

Right. Another one is, you know, there’s actually 90 different things I do to ensure you getting the home close. And all that is, is agents are smart. They’re listing out every one of the details. Right now, you and I both know it’s very different to close a transaction in Canada than it is in the U. S.

Right? In Canada, you guys agree, you go to contract, agents can get paid, right? Because the fallout rate is next to nothing. So, the more we can do to understand whether somebody’s buying a house for the first time or buying a house for the first time in 10 years, everything has changed, everything is new.

The smart agents today are not doing this. Hey, L. P. Mama, close you on appointment, meet you at the house. The smart agents are saying, has anybody taken the time to walk you through the process? Right? And literally setting aside an hour to educate him on the contract, educate him on the sausage making side of the transaction, the pitfalls, the mistakes to avoid how you’re going to protect them.

Right. And then now, David, tell me about your dream list. What are you guys looking for? Right. That’s what the smart agents are doing today. So whether that was Us paying attention to what was going on in 28, 2019, recognizing that these lawsuits were going to come to fruition. Eventually that’s the, that’s the trend today.

That’s what the smart agents are doing. Man, you nailed it. I love your breakdown there, especially, you know, we do a commission workshop and one of the things you, you, you hit on it is you have to sit down and actually explain it and write it out. Agents are scared to discuss money with clients sometimes, you know, and it’s hysterical.

It’s weird to me. Yeah. Right. Yeah. It’s a, it’s a weird one. I’m going to give a shout out and I know this doesn’t exist in Canada and I’m, you know, maybe I’ll, I’m actually meeting with the founder today, so maybe I’ll help him work on that. But in the U S there’s one app. Transcribed That over 400, 000 agents have, it’s called Palm Agent, Palm Agent.

And, and whether it is, you know, doing a seller net sheet, hey, what happened, you know, how much do you actually get if you sell the house or should you buy now or buy later? It’s a series of calculators. That you just, you know, you just punch in the numbers and go, here’s the answer. And when I asked the founder, I’m like, why did you guys create this?

He said, you know, my mom was a real estate agent like 23 years ago here in Dallas. And my dad was, is a minister, but was pretty good with the computer. So he was able to like create this. And, and David it’s called Palm agent. Cause the original vehicle for showing it was the. Palm pilot. Oh God. Yeah.

Remember that? Yeah, of course. Now it’s on, you know, iOS and everything else. But the joke I’ve always said is most agents aren’t that good with math until I say, what’s 2. 75 percent of 397, 000. Then they go bang. Right. Of course, of course, that number down, we got to get comfortable. If we’re not comfortable talking about fees.

You’re, you’re going to get squeezed if we’re not comfortable saying, let me walk you through the process of how this thing works, you’re, it’s not that you’re going to become irrelevant or you’re going to become less effective as an agent. Part of that will just become your reputation. Yeah. I mean, you need to own it, right?

You have to be able to articulate what you get paid for. That’s, that’s fact. It’s going to be even more important going forward. So we, we got the market overview in general landscape out of the way. So that’s good. I want to move to the, some of the conversation I really want to talk to you about today, which was the legal challenges, the lawsuits, the commission structure conversations that we’ve seen taking place recently.

These lawsuits have made significant headlines, right? Significant headlines. The first one I believe was, I believe was in Missouri, 1. 8 billion judgment against a handful of brokerages, regarding the buyer’s agency commission. And of course that sparked more lawsuits. So you know, with the ongoing legal challenges surrounding agent commissions, what conversations are you having with agents about this or, you know, what are you advising them?

It’s know your value, show your value, grow your value. Like that’s the trend. If you’re not able to sit down with a client today and articulate, this is what I do and how I do it and how it’s going to be valuable for you and how I’m going to protect you and how I’m going to do all the things that matter and the points of negotiation and the nine different things.

If I can’t do that, I’m going to struggle in this environment. But I want to be clear with you last year, I, I think I personally worked with about 84, 000 agents, right? When US, Canada, Mexico, Australia, Europe, any, any face to face event I did, even on zoom, we, we tracked that number. There’s about 200, 000, if you look at, you know, all my speakers and all my, you know, presenters from the day the lawsuit was announced until my last event, which for me, I think it was like.

December 7th or 8th in San Diego, California. I would say, by a raise of hands, how many of you have been asked by a consumer, tell me about this real estate commission lawsuit. And what was interesting is, Whether I was in Dallas or San Diego or New York City or New Jersey or, you know, like the, the, the number of hands that went up was so insignificant.

So it really got me thinking with a bunch of my CEOs that I work with, we want to make sure that we train, we want to make sure that we educate our agents. We want to make sure that we are ahead of the curve, that we are empowering them with the visuals. Like we would have a listing appointment, same thing for a buyer appointment.

But what we want to be mindful of is we want to, we want to bring it up. Even if the consumer doesn’t, we want to be comfortable in the conversation, even if the consumer does it. And, and again, I mentioned the smart agents, the ones that are doing this now are the ones that would be ready, David, maybe, I don’t know, maybe in the U.

S. in the second half of the year. You with me? Because right now in the U. S., there’s, there’s tens of copycat lawsuits. It’s going to be more relevant. But right now, like, in mass, we’re not seeing it. We’re talking about it. It’s talking about it. Real estate news is talking about it. Housing wires talking about it.

KCM is talking about it. And a small percentage of consumers are bringing it up, but today it doesn’t seem to be a part of the zeitgeist yet. I think it’s coming. So I don’t know if I’m answering your question here. So yeah, well answer is bring it up and have it be part of the conversation. So you get really comfortable.

So when it actually becomes an objection, when it actually becomes a condition, you’re like, okay, I got this. Yeah. It rattled the industry internally, like you said, it rattled everybody and it made all the news. It made all the news, you know, 7 billion, you know, Warren Buffett’s company and this one and that, you know, right.

Yeah. I think where you, the key point though that you made there is it’s all about communication. The research I’ve done and like the more I looked into it, communication, the agents just aren’t communicating with their clients. So they were like, wait, I got hoodwinked. What did I pay for? What? You know?

Right. Right. Right. So that’s what happened, you know, so as agents, we got to own the conversation, you know, if you are an agent or broker, you got to own the conversation, get ahead of it. And clients will trust you more. It’s not that hard. Like it’s not difficult in British Columbia. It’s interesting. They actually, every time you counter, like when you’re negotiating, you have to refill in the amount of commission being paid, which I find interesting.

I mean, it’s more work, but. There’s no, there’s no gray area. You know exactly what’s being paid. Yeah. The interesting thing in the U. S. that what I am hearing, and again, I’m not hearing it so much that I’m like, Oh my goodness, but I hear it. If I hear it a few times, we’re like, let’s create a couple of objection handlers for this.

Let’s add it into the buyer consultation is, Hey, sellers are now putting in, you know, two and a half percent to the listing agent and a dollar to the buyer agent. So, so we’re hearing that, but we’re not hearing it at the level of like, for sale by owners going on their own. Right. Which you could say is kind of the equivalent of, right, it’s in the MLS, but, but we’re not really cooperating.

Yeah. Do you know what I mean? Like, I know, I know. Think about that. I also see, like, you know, this in, in Toronto, one of the, one of the things that is at least as we’re filming this today. There is uncertainty if you’re the listing agent, right? If you have a chance to double end the deal, do you get both sides, right?

Like that’s a big, that’s a big question, Rick. And I think what’s going to happen is brokers are just going to say in the greater GTA, this is how we’re doing it, you know, because the old rules of dual agency are no longer apply, at least in, at least in the Toronto, you know, in the Toronto real estate board.

So it’s going to be fluid. It’s going to be fluid. So the thing, I think the overwhelming thing both you and I are saying is do not put your head in the sand, have all your documented processes, be able to show and demonstrate the value that you deliver on the buy side and be very comfortable saying, and David, if the listing agent only offers a 2 percent commission, we’ll be adding 0.

5 to the settlement statement. Right. Right. It’s just like it’s knowing what to say and saying it over and over again and demonstrating your value. Now, will, will you maybe negotiate down on the 0. 5? The answer is yeah, sure. Some will and others will say, okay, got it. And that’s what we have to do. Yeah, you touched on it.

And this is something that we’re obsessive about, which is, you know, value propositions and, you know, differentiating yourself, right? USPs, you know, so it’s critical, right? Like if you’re going to justify your, your money, you have to have, you know, USPs and differentiation, right? So how can real estate agents strengthen their value propositions and differentiate themselves in a way that justifies the commissions that they charge their clients?

Yes. Yes. An agent does not have to look any further. Then the best listing agents in every marketplace have these brilliant. Here’s what I’m going to do for you. Here’s how I’m going to get your home in front of the highest number of, and we show like, here’s my listing presentation. And forever, I’ve always said, like to, to clients, I don’t understand why you have this super dynamic listing presentation and your buyer presentation goes like this, sure, David, why don’t I meet you at the house?

Like there’s, there’s no presentation of that today. If we just say, look at my listing presentation, just write the opposite of it on the buy side. How am I going to help? You’re going to win. This is just taking the time to prep and then practice and then start. That’s all it is. I, I would almost argue for the vast majority of real estate professionals.

You’re making a bigger deal out of this in your head and you need to stop it. Yeah, you just need to stop it. You just need to do everything else you’ve ever done, which is just, you know, figure out the problem, create a solution, get it documented, start practicing it. And just like that, it becomes like riding a bike and anything else.

Yeah, no, those are, those are, it’s a fantastic breakdown. This is more opinion than coaching here. We were talking about it before we started recording here. Have you been following the NAR saga, the NAR chronicles? What are your thoughts on what’s going on there? You know, honestly it saddens me, right?

It saddens me. first of all, it doesn’t make sense to have a president of anything for one year. Right? So that’s just, in my opinion, that’s just stupid, right? You know, in Canada or the U. S., it’s four years, it’s six years. You gotta have time to get your legislation through. Otherwise, you’re just a figurehead and somebody behind the scenes is pulling all the strings.

So I hope they change that. Regarding all the accusations, I think anybody that’s doing that kind of stuff in today’s environment should be canned. You know, do I think that there is room for a competing association? Yes. When you look at a recent stat that came out in the U. S. where it’s like 49 percent of all agents did 0 to 1 transactions and I wish they would have just told us the 0 number because I would have guessed that was somewhere around 35 to 40 percent of all licensed agents and I bet the same would hold true in Canada.

So, you know, do we, do we really need 1. 6 million, 1. 5 million in the U S the answer is yes. From a fee and lobbying standpoint, right? We need those fees, but if you pay attention, was it seven, seven years ago, eight years ago, maybe right before Trump became the president, the head lobbyist for, NAR. Step down and when he stepped down, it’s like some people had described to me, big shot to my buddy, Steve Izzoni and he and I were in this conversation, he said when he stepped away, basically the guy that stood with the biggest sword in front of everybody, protecting the industry left and that’s when the shackles, that that’s when everything just started to change, you know, some people would blame Trump.

I’m like, I don’t, I don’t know if it was Trump or just the lack of legislation, but if you look at how real estate has changed in the last eight years. It’s been interesting. It really has, yeah. I mean you could, I mean we could talk about it for hours obviously. I don’t think NAR’s going anywhere, but I think NAR, NAR has a serious brand issue.

You think? Yeah. You really need to think about, hey if you’re going to be the president of NAR, right, you can’t be president for a year. That’s stupid, right? The second thing is, trying to make decisions with 680 people making a decision. Right. We got, you know, Bob, who’s on his way out as a CEO, we need a great executive team that thinks about real estate agents and thinks about consumers and is willing to fight the knuckleheads in DC.

Because housing, last time I checked, real estate is like 17. 5 or 18 percent of the GDP of the U. S. And in Canada, what is it, like 49%? Yeah. It’s a monster, monster part of the GDP of your country as it is for the U. S. So, we’ve got to fight better for what’s going to serve first time buyers, immigrant buyers, you know, seniors, you know, I mean, just the whole nine yards.

So, we need to fight and we need somebody at the top that’s going to lead that fight over the next decade or two. Yeah. Well said. Appreciate your opinion there. We’ll get you back to the show in just a few moments. We’re pausing here to remind you that this podcast, as always, is brought to you by the Greater Property Group Real Estate Brokerage.

As mentioned, the Greater Property Group is proud to offer our scholarship program. Are you new to the industry or thinking about getting your real estate license? If you are, you’re going to want to ask about the Greater Property Group’s new agent scholarship program. Why pay for the full cost of licensing yourself when the GPG will help subsidize the cost?

Additionally, if you’re already a real estate agent or associate, the Greater Property Group is also proud to offer our best of everything fee plan for sales professionals. What’s the best of everything plan? What would you say to zero monthly fees, no splits, and 100 percent plan? Yes, it’s true. It’s possible to keep your money and pay no monthly fees at the brokerage.

Hit us up for details on either of these programs or for additional info about the Greater Property Group and what we’re doing to help real estate agents grow and scale their business. In a changing industry go to greaterpropertygroup. com slash careers or email info at greaterpropertygroup. com Back to the show

another topic for discussion Is the rapid adoption and use of new technologies like ai right in the everyday business of real estate professionals Especially over the past year, you know, we did a three hour workshop actually with chris smith from curator and, and chat GPT. Yeah, it was fa it was fantastic.

I think a lot of the agents were mind blowing about what you can actually do with AI technology. Now, I don’t know if you’re, you know, really paying attention to this, but are you, what are you seeing when it comes to the everyday practices of the average agent, when it comes to AI, like what specific AI tools are they using?

And what do you think might be the most transformative in the next few years? So I’ll tell you where it’s going. I made this prediction. I said it last August. I said, in the next 12 to 18 months, you will have your own AI. It will make calls for you. It will market for you. It will do your follow up since you don’t, since you don’t.

It will do your follow up for you. It will send personal notes. It will open up the escrow. It will close the transaction. It will send your closing gifts on your behalf, and you can be anywhere in the world. And when I said it, people were like, And then I showed the video from Google, like six years ago of the Google assist, making phone calls to book appointments at a hair salon.

And I’m like, you don’t think that if a Google assist could call the hair salon and book an appointment for somebody that we couldn’t fall with the buyer to say. You know, hi, it’s Phil. I work with David as promised. We wanted to let you know, there’s a new two bedroom, one bath that just came available in Hoboken off seven street.

And we’d love to schedule an appointment. You have tomorrow at two, or you don’t think an AI is going to do that. It’s already doing it. So here’s the thing. Smart agents are going to be early, but they’re also not going to get stuck in their ways. They’re not going to get a fixed mindset on what it does and what it doesn’t, because we are in the really.

Early stages of AI as we know it. Everything is going to change and it, will it make some things irrelevant? Of course. Will it make some people irrelevant? Of course. Right. Will it make some of the things you’ve always done just seem silly? Of course. You will then find more things to do, like talk to clients, serve more customers, go on more meetings, be more social, right?

Spend more time with your family, like, you’re gonna get opportunities. When this device, David showed up, and the promise was, you’re gonna get more free time. I remember saying, no, I’m gonna get less free time. This device is gonna consume us, right? You know, God bless Steve Jobs and the addicted iPhone, right?

AI is a time saver. It’s a time saver. It makes you better. It makes you faster. That is why smart agents are using it. No, absolutely. Incredible breakdown. I really appreciate that. it’s all about the questions you ask and the prompt engineering right now. So best agents, entrepreneurs are taking advantage of, of those tools, which I think is important.

Agents are also, you know, taking advantage of chat, GPT and AI when it comes to, you know, marketing insights and staying ahead of marketing trends. So when it comes, yeah. So when it comes to marketing, branding and social media, what are you seeing the best and most successful agents doing when it comes to branding and marketing right now?

So, so I think the first thing is you need to decide where you’re going to be famous, right? So, so I’m on every platform, right? You’re on every platform. Every, everybody is on every platform, but where do you spend the majority of your time? And, and if you’re going to say for, I’m just going to use Instagram as an example.

So let’s say I’m on every platform, but I don’t really pay attention to LinkedIn. I haven’t been on Pinterest in three years. I have a YouTube channel. I publish stuff there. You know, like that’s pretty typical amongst most agents. What you need to decide is what’s going to be my fame asset. What’s going to be my fame asset?

What’s going to be the thing that people are going to say, Oh, David, of course, right? So I can think of like Shannon Gillette, one of our clients in Scottsdale, Arizona. It’s her being on television. If I think of Paul Rushforth up in Ottawa, Ontario, Canada, it’s going to be his radio show. If I think of Phil Gerdes, right?

In the DC, Maryland marketplace, they’re going to say Instagram Reels. Right. That guy’s like, he’s so dynamic on Instagram. So the first thing is, I think you need to decide, like, if I look at all my content over the last couple of years, what gets the best response and on what platform. And then what I’m telling people is you need to go like crazy on that platform.

Does that make sense? So you’re going to push your content everywhere. But what, what we’re seeing now is podcasters are becoming famous because they podcast Ken Pozak, one of our great clients in Orlando, right? The guy did like 200 transactions off his YouTube channel last year, like that’s insane, right?

If I think of Vanessa who owns Domo Realty in Atlanta, Georgia, it is, she is, she’s better than Chachi P. T. at writing. seductive listing, like descriptions of houses. You with me on this? Like she’s, she says, I’m a glorified marketing nerd. So that’s an example. Vanessa or David Caldwell or Shane down in Florida, what we’re seeing is a lot of smart people now are saying, Hey, you know what?

YouTube is the second most searched. Channel on the planet. So why would I not create a super enticing 45 second commercial that, you know, the first 15 seconds before you hit skip and they’re RUNning those ads aggressively in their marketplace. And what’s happening is people starting to say, Hey, I see you, right?

I see you everywhere. Even though it’s just YouTube, but YouTube gets bazillions of views every second. Like that’s a really smart move for people. Talk about branding today. If you were to go to Vanessa’s site, DOMA Realty on YouTube, you would see what she does and I’ll, if you’re going to my channels, you’ll see I’m publishing more and more of these agents.

Little 15 second. They’re not 15 seconds, so like 45 second commercials. But David, they’re well written. They’re well produced. They’re consumer centric. They’ve got enough eye candy to keep the ADD person paying attention. So that’s another example of a fame asset. In the old days, it was blog and direct mail.

But, and I could, you could even argue today, those still work, but you didn’t ask about social. You know what also works? Being the open house queen of your marketplace. That also works, which means you’re putting out 30 or 40 signs, you do a mega open house, you invite all the neighbors to come first, so when buyers can actually show up, there’s already 80 people at the open house.

Like these are, these are things that, so I guess the answer is, it’s that. And then of course it’s your face, it’s your tone, it’s your words, it’s your distribution of your content. Like all the, all the sort of things that everybody already knows. It’s all of that. Did I answer the question? No, you absolutely did.

Yeah, absolutely. I like that idea, you know, of picking, you know, one or two platforms and just focusing on that. I think that’s important because agents get spread thin, you know, they really do unless they have somebody doing it for them, but even then they have to. Produce enough content to do it. The last time you were on the show, you did a incredible breakdown of, how to get more listings in a low inventory market.

You touched on the fact that we do need to list homes this year. Like otherwise we’re dead in the water. So what are you seeing the best agents doing right now for effective listing, generation tactics? Like how can agents get more listings in the current environment? So I’m going to give you two and I’m going to give you the two because.

These are the two. Now, again, this is going to be very U. S. specific because I’m going to use Zillow as an example. But, but I’m going to tell you right now, at scale, it’s email marketing. Let me back up. You really is? It’s personalization. It’s personalization. It’s, you can tell people all day long, you’re number one, your company’s number one.

But, but what, what is that? Like, what do people really care about? If you, if you pay attention to the zeitgeist, if you really pay attention, every real estate agent that is kind of social gets asked this question, Hey David, how’s real estate market? Right. What’s going on? Right. Everybody wants to know that.

Well, you know what I discovered? People don’t want a Bloomberg answer. They don’t really want to know. Well, you know, the Delta difference between the 10 year treasury and, you know, how that’s going to impact them. Like a tiny percentage of people want that level of detail. You don’t, they really want to know.

So if you’re listening and you’re an agent, really pay attention here. People want to know three things. Is my equity safe? It’s the first thing. Is my equity safe? A lot of us still remember 10, right? So when they start hearing recession, now you and I both know, if you look back over the last six recessions, we had one that was a catastrophe, 7, right?

And it was a real estate caused mortgage backed security caused recession, right? The other one, home prices went down like 1. 9 percent across the U. S. Every other recession, home prices went up, but see, most people don’t know that. Most people have no clue. So, so when people are asking you, how’s the market, I want you to be thinking in your mind, they’re asking, is my equity safe?

Second question they’re asking themselves is our home price is going to go up, be flat or go down, which is a variation of the first question, but they want to know what’s the future, right? Give me the crystal ball. Tell me what’s going to happen. But here’s the one that I think is so important for you to pay attention to, whether you’re in the U.

S., Canada, anywhere around the world, the boomers, the later stage aged boomers and the matures are all thinking about how is this market going to impact my future plans for my equity? So I, I said this at a recent event I was doing in Seattle and about, you know, seven or eight agents walked up to me and they were all, you know, kind of late sixties, seventies.

And they all walked up to me with this like, like, like I’m the young whippersnapper at 53. They’re like, you, that’s exactly it. We were just talking about this a couple of days ago. Like what we’re all going to see is the greatest transference of wealth we have ever witnessed in our lifetime. Because in the U S and Canada, who owns all the real estate?

Boomers and seniors and how much equity they sitting on bazillions trillions. Yeah. So, so three things, ready? Number one is understanding that what are people really asking when they ask you, how’s the market? Like I started asking agents to test it. So David asked me, how’s the market, how’s, how’s the market, Tom, David, your equity is safe and just say it to him.

Just watch how they respond. Like how safe, well, it’s so safe. It’s going to go up by 5 percent on average this year. Wow. But the bigger, I think the bigger question is, David, what are your future plans for the equity? Mm hmm. And you, you literally can hit all three. And, and I don’t want that to come across as scripted because I’m like, I’ve written a million scripts for, you know, Hey, how’s the market?

Well, it really depends. You’re going to buy, sell, invest, or rent. Like which part of the market you’re interested in. Like, and that was super effective for a long time. But when everybody started to doing it, it had jumped the shark, like having the ridiculous phrase in the back of your business card that the greatest compliment you can give me as a referral.

Like if that’s on the back of your card, burn all those cards and please start over. It is 2024 people. Back to your question, in the U. S. last year, I had 2, 384 agents participate, meaning they did the work and then they tracked and measured it in our system. So we were able to spot check and know, David, exactly what was happening.

They sent over 400, 000 of the text messages I’m going to tell you to send. I’m going to screw up the numbers. So let’s just call it just slightly less than 20, 000 listing appointments from a texting campaign. Is that good? So here’s the text. Imagine if you got this from me and you do the realtor. ca version, but I was like the Zillow version, right?

Just because, you know, a lot of my clients are in the U S and there’s like so many darn agents. So I say, Hey David, I was just on Zillow the other day and I was looking in your neighborhood for a client, decided to stop at your house and take a screenshot of your Zestimate. So it looks like the estimated value of your property is 1.

8 million. And I literally include the screenshot of the Zestimate. And then I say, I’ve got my opinion on this price. What do you think? And I include this emoji and I text it to the client. I don’t know if there is a more simple, elegant way to provide value and start a great conversation. So if you send the, in our, in our case, they sent 400, 000 of these.

They got 5 percent conversion to a listing appointment, 5%! It’s unreal. That is Show me another marketing campaign you can RUN today that you could do, dare I say, while sitting on the subway, while your kids are, you know, doing their homework, while you’re at the office and you should be prospecting and you know you’re not, to literally just go 10 addresses right now, 10 clients, here’s the estimated value of your house, that little script I gave you, text it to them, and watch the responses come in.

The second way to do it is through email. And, and this is again, remember earlier in this conversation, we said, if you’re sending emails with a, with a right hook that you didn’t already provide value, provide value, provide value, provide value, then yeah, you could probably over CTA call to action your database and that could be a bad thing.

So here’s what I tell people. Immediately you need to start sending out market updates. Here’s what’s going on. Newsletters. Here’s what’s happening in the area. Here’s the five things you need to know. Here’s the three bands that are coming to town. Here’s the two beer gardens, you know, all that stuff, right?

That, that a good real estate agent being, you know, understanding their marketplace is going to be educating people. You’re doing that. So once to twice a month, you can send this email. Now, I’m going to tell everybody, just send this email. I don’t care if people unsubscribe, you’ll be okay. The, the people that will unsubscribe, we’re not going to buy and sell with you anyway.

And they were never going to refer you. So just get over yourself, right? The single hottest email, I’m actually going to, I’m going to read it to you. So the person could actually. Go with this. This is the one that has slayed it since the first week of January. You ready? Subject line. How much equity did you gain in 2023?

How much equity did you gain in 2023? Hi, David. I’m setting aside a few hours this week to put together home equity reports for my clients. Now these reports are more comprehensive and accurate than anything you could ever get from an online tool. Can I send you one for your home? Would you like me to, can I send you one for your home question?

Let me know. Happy New Year. Tom Ferry, banana Real Estate. So first of all, if you went to my Instagram handle, you’re gonna see a video, maybe it’s tagged at the top. I don’t know, it probably has 120,000 views. And, and the number one comment is, where do I find the email? Where do I find the email? Where do I find you?

Please repost it. Please repost it. ’cause I was, I was on a green screen kind of standing, you know, in front of the email. I have more people DMing me right now saying I sent that one email to my database of 300 people. I had 42 people say, can you please let me know the equity that I gained? Is that valuable as a real estate agent?

Is that a valuable use of your time to be, to have them go to you for it versus something else? The answer is of course, but the better news was it was about one out of 10 people said, funny, you sent this to me. We’re thinking about making a move. Right. So literally, we think just this one campaign, big, big shout out to my friend, Jimmy Mackin.

Jimmy’s my partner in crime in so many of these things with, with Curator. We think this has already generated 25 or 30, 000 opportunities. Just in the first few weeks of the new year, those are two things. It’s unbelievable. You know, like you said, 5%, it will eventually go to 10 and 15 because the whole point is to start a conversation and it’s a pattern interrupter.

It’s a new, new approach to start a conversation. So big shout out to Maureen Fallon, big shout out to Lydia Gable, big shout out to Jay and DC, Jay and Jen. So 2019. I’m, I’m standing at the success summit at like an Anaheim, California, there’s 5, 000 agents there. We’re rocking, we’re having all this fun, you know, the, we had no idea what was coming.

Right. But I remember saying to people, look, distribution is one of the most important vehicles or business strategies that people don’t pay attention to in real estate. Right. So we all think brand, you know, we think marketing, right. You know, people, all those things and all those things matter. But I would make the argument that distribution is one of the most important factors of what separates the truly great businesses from ordinary businesses.

Think Starbucks, think Timmy Hortons, right? Like when you’re up in like Toronto, like everywhere, everywhere you go, man, it’s like Starbucks, Timmy Hortons, you know, like, cause they’ve got shops. That’s distribution. But in real estate distribution is not being myopic and saying, Hey, I’m only going to do my business this way.

I’m going to send texts. I’m going to make phone calls. I’m going to do emails. I’m going to put out signs. I’m going to have a billboard. I’m going to do videos. I’m going to do open houses. I’m going to do direct mail. It’s doing everything. But in 2018, 2019, I got really obsessed with. You should be doing buyer seminars.

Then I said, you should be doing seller seminars. So, Lydia Gable starts doing it. She’s a very famous agent in the Conejo Valley in Los Angeles and does a remarkable business. A bunch of my clients watch her present it live in front of them and they all do what we all do, David. R& D, rip off and duplicate.

Cut her head off, put my head on, change the information, you know, modify it to how I do it in my marketplace. Here’s why I tell you this. My little sister, Michelle, sells houses in San Diego. She moved from Vegas, she lives in Carlsbad, she comes to the summit, she watches my client Maureen Fallon, who is the queen of Queens, New York, number 15 broker in all of Manhattan, like she is a devastatingly powerful, wonderful business person, she watches Lydia Gable, she decides she’s going to do it.

Two seller seminars every month in Queens, New York, where she works about 15, 000 homes that she farms. So she just adds to the farming direct mail piece. Thank you. I’m selling your home. Join me on a Saturday or a Sunday at noon. We’ll have lunch and I’ll educate you on kind of the do’s and don’ts of getting your home sold here in Queens.

Every time she does the announcement, she gets 12 people. Every time she gets 12 people, three of them end up listing their home within, you know, a month, two months, four months, five months. So, so my little sister hears this and she says. I’m gonna do it now. Why? My little sister’s not a cold caller. Her last name’s Ferry.

Not anymore because she’s married, but like, you know, she’s not my dad, right? She’s more like me. She wants attraction based marketing. So she takes the community that she lives in. She’s very bright. She says, I’m going to go after people that have lived here for 30 years or more. So what are they sitting on?

Tremendous amount of equity. They’re in California. Maybe their grandkids are now in Phoenix or someplace else in the country. And she sends out a direct mail piece. She even knocks on a few select doors that are kind of her neighbors and says, Hey, I’m doing an event. For people that want to know how to sell their home in 2023 and get the highest possible price with the least amount of stress.

Like that was basically her hook. She goes, I get 11 people that show up. She calls me a couple weeks ago and I said, Hey, are you coming over to, you know, our other sister’s birthday party for the baby? I can’t. I’ve got six escrows, six escrows, four of which were sellers. She generated from her first seller seminar she had ever done.

She’s like, I’m now doing that every single month. That’s just another channel of distribution being in front of people face to face like you doing a podcast is a channel of distribution in 2024. The biggest mistake people would make is saying to themselves, I don’t want to do that. I don’t like that style.

I like doing it this way. You can’t be myopic. You’ve got to be thinking, what is the fastest, most effective way for me to get in front of as many people as I can to message, connect and find the people that like me. Seller seminars is definitely one of them. Dude, fantastic. you, I mean, you said it earlier, success leaves clues.

I wanted to, you know, the truly successful agents will always have coaching and mentorship of some kind. Right. and, and it’d be great to get your thoughts on the importance of coaching and training in real estate. You know, you are the number one, you know, real estate coach in the world. I say all the time.

It’s true. just some words on why continuous and ongoing real estate coaching is so important regardless of your years in the business experience or education. So, so I’ll answer it this way. It’s the same reason why I have a relationship coach, almost call it a therapist. It’s the same reason why I meet Oscar or Brad, who are two people that I train with.

it’s the same reason why I talked to Steve, right? All of these people, it’s a combination of two things, right? David, do you ever, if you ever took your kids bowling, my kids are 25 and 23 now. So, you know, it was a long time ago when we’d be in Park City and it was a snowboarding day and I didn’t want to snowboard anymore.

Let’s go to the bowling alley. And I’d watch my boys grab the ball and they’d push it down and it would go right into the gutter. And they would look at me and say, bowling sucks. And I would say yes, until they put those little guardrails up, right? And then they turned the music on and the guardrails had like little lights going all the way down.

And if you’ve ever been to a more modern bowling alley today, you see that all the time. And why do they do that? So the ball doesn’t go in for the kids into the gutter and have them turn to their parents and say, this is stupid. Why are we here? So you know what it is? I go see Oscar in the morning. He’s guardrails.

I know the training to do. I know that I should do hit, you know, twice a, you know, twice a week. And I know I should do this kind of cardio and I should push myself this way. And you know, I know I should breathe and push, right? Like I know all that stuff, but I perform better when I have somebody there looking at the little nuances, the little things that I’m doing.

That’s one. The second one is like, Steve, when I call Steve and say, okay, I, I need someone, I need someone to call and say, here’s where I’m really frustrated. Got some people problems right now in the business. It’s driving me nuts and I declared that 2024 was gonna be the year of no drama. I’m thinking about firing these people.

What do you think? Like I just, I need to be able to bounce that off. Someone that could say, Hey, well let’s make sure that you talk to hr. Let’s make sure. Like, and those are all things that I know, but I need someone that I trust that I can have those conversations with, that I know has my back. I also need, ’cause I’m slightly a DDI dunno about you, David, but I’m slightly a DD and I have a thousand ideas.

I need someone that reminds me of, hey, we committed to these seven things in the first quarter. So I’m really excited about your new idea, Ferry, but what about the seven things we committed to in the first quarter? Where you at with this? Where you at with that? Where you at with this? And then we get into the weeds of it.

Okay, I got to talk to Josh about this one. I got to talk to Mary about, you know, executives of my company. I got to, I got to make sure that everybody’s alright. I need that. And I would make the argument, I don’t know a business person that doesn’t. I have multiple, multiple billionaires that live in my build, my building in Dallas.

And when I describe them, I’m a business coach. Now, oh yeah, I got a business coach. Oh yeah, oh no. We have somebody internally inside the company. We hired the person and they work with all the executives. That is, that’s no longer trendy. Right. Dr. Julie Gerner, if you’re not following Dr. Julie Gerner on X or on Substack, all of you that are listening, start following her.

So her and I become friends. She is like, remember the show billions. She’s Wendy, like in real life, like she’s Wendy. She goes, I get hired all the time by hedge funds that say, we met this guy, David, he’s an extraordinary CEO founder, but you know what? He’s never been at this level before. He needs a coach.

He needs a coach for this level of his career for this level of where he’s going. He wants to take the company public. We need someone that’s helped do that. That’s that is normal today in the real world of business. Does that make sense? Absolutely. From the words of Tom Ferry himself. Appreciate you breaking that down.

And I do want to say, David, I’m a flavor. So if you don’t like me, I don’t care. I have 237 other business coaches, but I know that there’s, there’s a bazillion options. Everybody’s a coach today. So I’d like, I, I, I really don’t care. I just care that the person listening finds the person that they align with, that’s going to challenge them to be great and hold them to a standard of performance.

That is higher than what you’re currently doing. And if you find that person, God bless you. Keep moving forward. Very well said, Tom Ferry flavors, very popular flavor, for sure. So a wrap up question, just a personal question, Tom, we’ve been asking questions about, you know, legacy and purpose and things like this.

This is a good one. This will make you think as a final question, Tom Ferry, you’re opening a bottle of champagne one year from now celebrating something you’ve accomplished. What would that be? The thing that I will celebrate, I will be with my wife, my executives, hopefully their spouses, and we will be sipping my champagne, by the way, as one crew.

I, I’m a co owner and a wine spirits. Wait, what? Is this breaking news? No, I’ve been, I’ve been doing that for like, I didn’t know this tequila bourbon. I’ve got three cabernets that have all got 99s. You know, 2000 was obviously bad. I’ve had our 2000. It was, it’s good. It’s a little smoky as everything was in Napa Valley.

but we’ll, we’ll get to a perfect 100, but. At the end of the day, you know what I think I’m going to celebrate? I’m going to celebrate, that 2024 was a banana’s year, that we served more clients, we moved more people forward. And, and at the end of the day, like last year, we did like 79. 2 billion in sales combined between all of our coaching clients.

I’d love to see that number get to 100 billion in sales amongst all of our clients. We do that. I’m going to be really stoked. Wow. Well, what a glass of champagne that’ll be, right? Yes. Fantastic. So Tom, thank you so much for joining us today. Very valuable, insightful conversation as always, in light of all that’s happening in the real estate industry now and what’s expected in the future, where do you want the people to find you and follow you?

Tom Ferry, right? Just add Tom Ferry. At, at, hey, at Tom Ferry on Instagram, at Tom Ferry on YouTube. I am most active on YouTube and Instagram, eating my own dog food, like I told you, same thing. Find one or two platforms and go hard. So follow me there and let’s connect. That’s a wrap for this week. Thanks for listening.

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