Renowned Industry Coaches Talk Value in Staying Ahead of an Ever-Changing Market

Top real estate coaches Jared James and Tom Ferry agree: Staying ahead of the competition and maintaining solid business practices, regardless of what’s happening in the ever-changing housing market, are essential to being a successful, trusted agent.

James and Ferry joined Nick Bailey for a special “Coaches Corner” edition of “Good Morning RE/MAX” to share their perspectives on how RE/MAX agents can keep business strong through the ups and downs of the real estate market.

Both coaches say the transition into 2021 is all about staying in “the driver’s seat.”

“When things get crazy, make sure you don’t,” James said, setting the tone for what both guests honed in on: consistency and unwavering customer service.

Host Bailey posed the question, “What’s your best advice for how agents should conduct business as COVID-19 precautions, like stay-at-home orders, make a resurgence this season?”

Here are the biggest takeaways from the dynamic conversation:

Tom Ferry, Founder and CEO, Ferry International

“If you think it’s challenging now and you stop marketing, you will be out of business in 90 days,” Ferry said.

Agents must stay ahead of the curve, rather than waiting to see how the market changes and adjusting business practices accordingly. Fear of the unknown stands in the way of success – so his best advice is to be proactive.

One way to do so, according to Ferry, is to follow through with follow-up.

“If you want to truly put your brand on steroids, you want to create the kind of trust that is required for people to select you over the competition – if you say you’re going to call me Tuesday at four, call me Tuesday at four. And don’t just call me, call me, then send me an email, then [send a text] and make sure you reach me,” Ferry advised.

“If you live every day in 2021 with your ‘follow-up box’ at zero, 2021 is going to be a really big year for you.”

He also says to not let that same fear obstruct your outreach methods.

“Your job is to be the most rejected agent in the area,” Ferry explained. “If you will become the most rejected agent in the area, you will be the most successful agent in the area, period.”

Jared James, Founder and CEO, Jared James Enterprises

James emphasizes the need to create scarcity heading into 2021. This means real estate agent should be prepared for demand surges and would be smart to stay well-connected with their network and database constantly.

“Flip the roles and don’t just create scarcity with [listings], create scarcity for great agents,” James said.

Echoing Ferry’s sentiment surrounding the importance of persistent marketing, James says that money spent on advertising is cheaper than the cost of being unrecognized.

“Don’t be afraid to spend money to invest in your business. We’ve been telling everybody, ‘If you think marketing is expensive, try being invisible,” James said. “To get closer to your database, run your business like a business. Don’t be afraid to invest.”

James also spoke to client retention, explaining that many agents are misguided in thinking that helping a customer close on a property is the end of their professional relationship. Instead, he says, it’s just the beginning.

“The transaction doesn’t stop at the closing, it starts at the closing,” he explained. “I would ask you a simple question: What is your plan for post-transaction? Do you actually have some kind of a client loyalty program?”

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