How to Develop a Six-Figure Income in Real Estate

by Mike Ferry

Book Overview

Offers practical advice on developing a successful career in real estate, and covers time management, finding prospects, showing techniques, listings presentations, and closings. This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0793104904
• Release Date: November 1992
• Publisher: Kaplan Publishing
• Length: 198 Pages
• Weight: 0.70 lbs.
• Dimensions: 9.5" x 1.0" x 6.3"

Customer Reviews

Mike Ferry is the best

Mike Ferry is the best real estate sales trainer in the world. The reason the reviewer went backrupt or maximized his debt is because he did real estate the traditional way. I used to do it the farming way, the advertising way, the referral way (giving lots of gifts and cultivating relationships). Mike Ferry's ideas are the first to treat the business like a professional business. Every successful agent I know has prospected like Mike Ferry. The reason why that reviewer is out of the business is because he didn't prospect for new business every single day. How can "Prospecting" put you in debt? You pick up the phone, learn some scripts and start calling. Its all the other crap that traditional brokers teach that causes you to go bankrupt. Spend $100,000 on mailings, spend $250K on farming, spend $50,000 on classified ads or harmon homes. Bus Benches and Billboards costs thousands a month. I know because I used to have all this stuff. We call people and get motivated seller and buyer leads daily. The point that mike always talks about and is not mentioned here enough is consistiency. Mike has updated alot of his stuff from the time this book was published. The top 5 agents in my brokerage including myself as subscribed "Ferryites". Look, even if you did everything mike talks about in his book, you have to remember that true results happen after 18 months of implementing the system. You will get much better results before then, but it will take 18 months before you understand everything and do it a proficient practice. Good luck to all out there.

Must Have

Meat and potatoes to real estate sales. If you have the discipline to pick up this book and do what it recommends, be prepared to have an additional 25-50 transactions over the next year. It is not just about cold calling. That is a piece of the pie. (You can only sell to who you know if you don't step out of that box.) Build a business around just this one book and you will do well.

The BEST BOOK on how to make money

This is a great book for anyone starting out in real estate. But be warned it requires committment from you. Changed my life and my career. It helps you get what you want, in the time you want, won't that be nice?

Best Practices Detailed for Real Estate Brokers

While there are many good books about being a successful real estate broker, this one stands above the rest for helping you create a real estate brokerage business. Mr. Ferry has a business process in mind that allows you to be more effective with your time and money, and to reinvest some of that time and money to create even greater results. Mr. Ferry has been a successful broker, and has been a top trainer in the field (based on those experiences) for many years. Only the top 3-4 percent or so of brokers made six figure incomes when this book was written, and this book is squarely focused on how to get you into that narrow area. I think this book will be of most value to those who want to make a high income, and are excited about trying new techniques to make themselves more effective. Although I do not practice as a real estate broker (although I am licensed), this book fits my understanding of how that business works. The most productive parts are when you get a listing or make a sale. Mr. Ferry shows you how to get more listings in time and cost efficient ways, and to have the way you get those listings help you make sales more easily. Here's what he has to say about this process: "It's not uncommon to see a salesperson's production double within months after starting to use the tools given here." " . . . [T]reat your real estate career as a busines. You can then use proven techniques for increasing your productivity."The introduction gets the book off to a fast start with excellent ideas for setting goals for your psychological, spiritual, family, physical, and financial success. He then encourages you to create action plans for each goal area, and to start taking action in the first five minutes after writing the plans. People with written goals and plans like these outperform the rest of the world routinely. He also encourages you to break your old habits, to ask for help where it is needed, to be sure you understand what you should be doing, and to keep going whenever you get something to work. In this way, he wants you to create excitement that will overcome whatever procrastination you may have.Willie Sutton said that he robbed banks because that was where the money was. Real estate brokers have to ask real estate owners about their plans to sell and buy all of the time -- that's where the real estate transactions are. He describes how to do this if you have a natural community to draw on (like your church or club). He also encourages you to try cold-call door knocking, and compare the results. For many new brokers, the cold-call door knocking will work faster and be less expensive. After you are more successful, you can hire someone to help you with this through mailings and telemarketing. He encourages you to do this prospecting all of the time. A recommended target is For Sale By Owner properties (most will eventually hire a broker). Expired listings are also a good source of new listings. You will find many

An ABSOLUTE MUST READ!

This book is a fabulous road map to real estate success! If you want to earn an above average living selling real estate ... then you must read this book! It is essential reading! In fact, throw away all of your other real estate "success" books and follow this one! Thank you Mike Ferry for finally showing us the way that it really is!