Tom Ferry’s Steps to Pivoting Your Business in 2020 During COVID-19

by Joe Sesso on June 8, 2020

There is no doubt that 2020 has been a tumultuous year for the real estate industry. As an agent, you have had to pivot your business to keep it running smoothly. Last week, we had No. 1 Real Estate Educator Tom Ferry on our Secrets of Top Selling Agents webinar to share some steps for taking your 2020 plan and completely flipping it to keep your business running. Ferry presented steps to create a new 2020 business plan to do more business and get ahead during a time of uncertainty.

Adjust Your Mindset

To pivot your business, you have to take a step back and realize what is working right now. It might not be what you are used to, but if you want to take your business to the next level, you have to focus on what is working now.

Ferry suggests taking a moment to analyze what is controlling your mindset as an agent during this time. In other words, what is impacting you? Are you one of the agents who are caught up in the worry of what is going on in the industry due to COVID-19? After you figure out what is impacting your mindset, Ferry suggests you gather data that you can share with your client base so that you and your clients can make decisions based not on fear, but on data.

Study the Market

Right now, it’s especially important to focus on how the market is performing so that you can be there to help clients who are unsure of what exactly they want to do when it comes to selling or purchasing a home.

Ferry urges agents to study their hot sheets or market reports so that you are aware of exactly what is going on in your market. Once you do this, you can move forward with your business and make sure that it takes off as time progresses.

Important Changes to Make Now

Yes, change can be hard, but sometimes change can be for the better. Here are a few changes Ferry suggests implementing in your business.

1. Set a “real” goal. Set a goal for yourself and where you want your business to be at the end of the year. Do not set a goal that you will not emotionally connect to. If you are not emotionally connected to it, it will be harder to attain. Or, as Ferry says, you can move mountains with an emotional connection to your goal.

2. Remove the friction. Determine what you need to do to remove the friction from moving your business forward. You have the chance now to look at what may be holding you back. Maybe you need to outsource some things; maybe you need some additional help getting back up again. Whatever you need to move forward, now is the time to find it.

3. Reset your schedule. Whatever your old schedule was, reset it. Take this time to set a schedule for yourself. Ferry suggests scheduling time to adopt 4-7 disciplines that will create a breakthrough in your business. Also, focus on showings and appointment setting rather and cold calling.

Basically, what Ferry is saying is start with the tasks that move the needle and gets your business moving in the right direction so you can come out on top.

Strategies to Attract More Listings

Focus on listing-attracting strategies. Whether your business came through COVID-19 in good shape or you need to restart from the ground up to get moving, Ferry suggests some strategies that will get you a listing.

Ferry suggests emailing your entire database from the last two to 10 years, as they may be more likely to sell their home. Share information about their area and answer some questions that they may have about the market.

After you’ve emailed your database and you have heard back from those who are interested, set a virtual meeting with them over Zoom for 15-20 minutes to go over a few things. Take this time to share a market snapshot of their area so they know about what homes have sold and what the average price is. If you have clients who are not ready to sell, but will consider it in the future, be provide resources and support to help them sell in the future.

Focus on Education

You may have clients who are interested in learning about everything going on in the real estate market so that they can determine if it is safe to sell their home. During this time, education is everything. Take 15-20 minutes to set up a Zoom education seminar. Ferry suggests titling it “5 Biggest Mistakes to Avoid While Selling During Covid.” This will give you the opportunity to work through any misconceptions about the market and help your clients make the right decision.

To learn more of Ferry’s tips to pivot your 2020 business plan to a new plan, you can join the Secrets of Top Selling Agents Facebook Group here. To watch Ferry’s webinar, you can view the recording in the Secrets of Top Selling Agents Facebook Group here.

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