The Mike Ferry Sales System - Practicing Scripts and Developing Skills

On today’s episode of MFTV, Mike presents several points on “Practicing Scripts and Developing Skills.”
Remember, the quality of your practice determines the quality of your performance. Professionals practice … Are you an amateur or a professional?
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[@lawrences2541]

Thank You sir

[@jlehonda1]

Solid advice

[@marie-anneduarte4981]

Great advice. Thank you.

[@freemandiaz5123]

practice Perfection production and profit!

[@claudiacastillo6829]

Mike Ferry knows real estate :)

[@decarushightower8843]

Great Advice !

[@handymanguide5198]

Practicing Scripts & Dialogues - Developing Your Skills( Mike Ferry) #1
1:19 ever noticed how when you're very knowledgeable about any topic any thought process any action how confident you are to walk into it you ever noticed that if you're a little bit of jar you're not exactly sure how all the little fears start to rise and they stop you from performing well in selling real estate that is 100 the case hundred percent the case the stronger your knowledge of your scripts the stronger your knowledge of your activities the stronger your knowledge of who you are and what you can do the higher the level of performance but when there's ignorant
1:58 know what to do and watch this example have you ever driven by it for sale by owner and not stopped of course you have and why'd you drive by and not stop because you didn't know what to say when you got to the front door see the knowledge of what to say gives you the confidence knock knock the fear not knowing to say it gives you the opportunity to accelerate get out of the neighborhood so how do we become more knowledgeable and the answer is practicing your scripts on dialogues so
2:31 two most important rules in selling are a asking good questions of people that you're talking to be listening carefully to the answers to most important rules and selling a are asking good questions people you're talking to know if you are
3:11 so therefore asking good questions is an issue that we have to develop how do you learn to ask good questions you have to practice all the time but then I said be listening carefully to the answers well how do you do these two things practice and roleplay practice and roleplay see in a real business practice and roleplay are critical I
3:43 him I said how much time does a pro football team actually spend in practice prior to a one hour game his answer was 61 hours of practice for a one-hour game
3:56 I said ah wait a minute these are professional football players these are the best in the world why would they practice 61 hours he said so we don't make a mistake so we don't screw up he said every professional practices every day he said amateurs don't practice at all and I thought to myself this
Practice Intensity
industry is an industry of amateurs Real Estate's an industry of amateurs we're charging professional fees for amateur performance I'll think about that we expect to get paid premium fees for it really in most cases amateur performance why we don't practice so how
Practice Intensity
4:39 practiced I wrote on the second thought practice revolves around two issues the amount of time you spend daily doing it and B the intensity of that time to issues and practicing the amount of time am I going to spend five minutes a day 20 minutes a day 40 minutes a day I've listened to some of the top agents in the country talk some of them still spent and these are people operating up here 30 40 minutes a day practicing some of them spent 2-3 hours the day when we first got together they could learn the scripts and dialogues to develop the confidence to win and do their job watch
5:18 the amount of time I'm willing to spend and the intensity of that time am i distracting and looking around and checking my iPhone and listening for an email to come in bing bing and Natalia hi Mary how are you and have to have a cup of coffee and trying to find mine or am I focused on my practice all right we're gonna roleplay now the just listed script and you go right into it if you don't have any intensity you can't expect any results so I wrote down
Practice Schedule
5:51 create a practice schedule routine for yourself most of the top agents will practice first thing in the morning they walk in the office to get their administrative work done maybe they get their cup of coffee and then they'll practice and roleplay 30 40 minutes every day how come if the agents doing 50 75 100 deals to your practice or scripts and they have this production and the ones that don't practice have that production and when I tell them they might consider practice they want to get mad at me because they're not professional real estate people you're a professional real estate agent you go to practice and then of course I wrote down
6:34 had a guy say to me one time that used to be a pro football player listen to this great quote poor practice no matter how much you do of it does not improve performance because it's still poor practice so therefore if you're going to practice your scripts and dialogues if you're going to become knowledgeable and confident then you're gonna have to understand that you have to practice the right scripts I mean watch if you
7:08 the field uh-huh how much mr. Frey wants you to cut your Commission No any other questions see I have to practice the intensity I have to practice the right things hi my name is Mike I was wondering when do you plan on moving hi do you want to sell your home huh huh that doesn't work okay poor practice poor scripts poor dialogues nothing but trouble all the time then I wrote down
7:35 this thought okay if you want to become good and I don't know how good you want to become but if you want to become good how about this record your practice sessions turn on the record record him listen back are you asking the questions are you following the scripts are you operating with intensity okay I wrote on
7:58 a great quote somebody gave me one of our top agents our growth is determined by our willingness to practice and our confidence comes from that practice customers and prospects want confident people not a great thought
Practicing Scripts & Dialogues - Developing Your Skills( Mike Ferry) #2
8:29 is we don't do it and we should be watch there is always room for improvement no matter how good we are how big our numbers are are how successful we are we have agents that are doing 150 200 250 transactions here not REO business straight residential they practice their scripts every day okay challenge to you you want to be knowledgeable and confident or ignorant and fearful do you want to be productive and profitable or be like most agents you wouldn't be watching if we didn't both know the answer put the business to work for you at the highest level by practicing see you next week

[@stellaBBC]

👍

[@MikeFerryOrg]

Thank you for watching, Stella.

[@handymanguide5198]

The Mike Ferry Sales System - Practicing Scripts and Developing Skills
What Are You Doing To Finish The Year Strong
October, November and December we have to get to work. We have to make things happen, as I said a couple weeks ago, if you have not been strong, you have four months to be strong. If you’ve been strong, don’t quit. Let’s keep it going
A seller or buyer is excited to have an agent that has a high level of skills. And they’re not depressed if you don’t have them, they just don’t speak to you again and then buy from someone else. So, it’s our skill level that determines the level of success were going to achieve. High level of skill, high level of success.
How To Ask Good Questions And Listen To The Answers
1. There are many, many important skills in selling. Two of the most critical skills in selling are asking good questions and listening carefully to the answers
How much time do you spend practicing? How good you are at both of these skills? You should be role-playing and practicing 30-45 minutes a day
You take a different script; a FSBO script, prequalifying script, closing script, whatever the script is you need to work on and you stand in front of a mirror and practice and role-play and practice and role-play. You want to embed these in your subconscious mind
You’re always going to have your scripts in your hand, you’ll always have them handy, you won’t get lost, but if you don’t have them embedded in your mind you’re going to get screwed up
You’re going to make mistakes and when you make those mistakes, they lose confidence and buy from someone else
Practice, Practice, Practice
2. If you’re going to practice and developing skills, your practice will revolve around two very important issues. First, the amount of time you’re willing to spend daily to embed the scripts and skills into your wonderful brain. How much time are you willing to commit? Did you ever play any type of sport? Volleyball, swimming, baseball, tennis, any sports? Did you have to practice? I already know what your answer is, you practiced all the time. High school and college you were limited because of education
If you watch the professionals: golf, tennis, football, baseball, basketball, they practice 8-10 hours a day in between games. Their life is practice
in between games. Their life is practice. Some of you will say, “You don’t know who I am. I’m doing 40 deals a year. I got this thing down.” Well, I’ll bet you I can name several hundred people who can outperform you because they out-practice you
Second thought, the level of intensity you’re going to put into your practice which embeds everything a little faster in your wonderful brain is the name of the game.
Are you practicing with intensity? Okay, let’s role-play, “so when do you plan on moving?” Everybody likes that question. “And how long have you lived there?” No, no. It’s not how long have you lived there, it’s “how long have you lived at this address?” It’s “where did you folks move from.”
See, you practice with the intensity as if you were actually working with a buyer or seller.
“Poor practice, no matter how much you do, it does not improve your performance.”
3. You have to get clear on the fact that the quality of the practice determines the quality of your performance. We’ve been told the story about a wonderful professional singer starting on the Las Vegas strip being paid tens of millions of dollars, where she had to leave with her entire troop and practice 12-18 months to get ready for the next big performance.
I read an article about Mick Jagger and the Rolling Stones, they decided to go on a tour. They spent 6 months every day practicing
These guys have been together over 40-50 years, I don’t think there is any song that you couldn’t wake them up from and they couldn’t sing.
They spent 6 months practicing, getting into the shape they had to be in to do the performance.
Do Not Give Up Practice - Dedicate Time For It Daily
4. If you believe that having a schedule that includes activities like prospecting, lead follow-up is important to your productivity, wouldn’t you believe that practice time is what it takes to get these two activities to work well?
Shouldn’t practice be part of your schedule? Of course it should, and if you think about it, what do we give up first? The practice.
“Well Mike, how many times do I have to practice the script?” Well how many times do you think a professional golfer hits a wedge? A professional punter in football punts the ball? A receiver in football catches a ball? A tennis player playing professionally serves the ball?
They’re spending all their life practicing
Are You Sensing A Theme Here? Practice.
5. A lot of you have great skills, we know that which results in a great performance and a great income. We have to remember there is always somebody bigger, better, faster, stronger, smarter who earns more money, which means there’s always room for improvement in the production that you have and that improvement comes from the practice.
Okay, it’s kind of fun because at our superstar retreat in august we have four of our Coaches role-playing on the stage and they were role-playing some of the objections and the answers and they practiced and practiced and practiced and when they were all done on Saturday, I talked to them and they said they wish they would have practiced more. You can’t over practice
Do Not ‘Wing It’ - Practice And Role Play Your Presentations
6. Always remember that as the showing process extends over days and weeks, without practice you’re going to lose them every single time. You have to go ahead and understand that you can’t spend three hours on a listing presentation because then you’re winging it. You can’t spend five days showing property because you’re winging it. The practice cuts down the length of time you play the game with the prospect you’re talking to
Are You Ready To Go Pro?
I’m excited and hoping that all of you understand the value of practice
Non-professional salespeople in real estate do not practice.
Professionals practice.
So, are you an amateur or a professional? One of the two is going to take place and you’re going to be one or the other every time, and that commitment is up to you.
Commit to practice, commit to perfection, and commit to production and income, which brings you the profits you want.