The 7 Most Common Real Estate Questions – ANSWERED | Tom Ferry Podcast Experience
Sep 13, 2023
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Real estate coach Tom Ferry answers the 7 most common real estate questions agents ask. Topics include adapting to the changing market, the future of real estate with AI, differentiation in the industry, and building a lean or large real estate team.
Reconnect with your purpose and find the fire within you to drive success.
Prioritize and focus on key activities that generate income and add value to your business.
Embrace change, adaptability, and forward-thinking to thrive in an evolving business landscape.
Deep dives
Reigniting the Fire and Finding Purpose
Many entrepreneurs and leaders feel tired and have lost their drive. It's important to reconnect with your purpose and find the fire within you.
Prioritizing and Focusing on Growth
To achieve success, it is crucial to prioritize and focus on growth. Avoid spreading yourself too thin and concentrate on the key activities that drive results.
Identifying and Eliminating Non-Value-Adding Tasks
Identify the tasks that don't contribute to your success and eliminate or delegate them. Focus on the activities that generate income and add value to your business.
Embracing Change and Anticipating the Future
Embrace change and anticipate future market shifts. Adaptability and forward-thinking are essential to thrive in a constantly evolving business landscape.
Entering the Era of AI-Driven Solutions
The podcast discusses the transition from the age of asking 'how' to the era of asking 'what do I want' and 'who do I need to ask'. The speaker introduces the TomAI app, which combines the knowledge and expertise of coaches and mentors in various fields. The app allows users to have real-time conversations with experts, getting immediate answers and guidance. The future of AI includes personalized AI systems for individuals, providing assistance in various tasks such as prospecting, scheduling, negotiating, and closing transactions. The speaker emphasizes the need to embrace AI as it offers efficiency and opportunities for growth, and encourages listeners to become early adopters.
Building Brand Differentiation and Becoming the Expert
The podcast highlights the importance of brand differentiation and positioning oneself as an expert in the marketplace. The speaker emphasizes the need for a strong brand that clearly communicates what one stands for, what they are against, and their area of expertise. Being the expert allows agents to compete on value rather than just price. The discussion also touches on the significance of effective communication with clients, expertly diagnosing their needs, and providing tailored solutions. The speaker mentions the relevance of leveraging technology tools like LandGlide and Palm Agent to enhance expertise and provide accurate data-driven insights. Becoming the expert and delivering exceptional client experiences are crucial for success in the evolving real estate landscape.
What are the most common real estate questions that agents ask me and my coaches?
They change every year. A large part of my job as a coach is to answer questions, so I’ve gotten into the habit of writing down every question that anyone asks me, whether it’s about the market, client interactions, today’s best marketing strategies, Ai, or anything else.
A few days before Summit, I take this list of a thousand or so questions, study it, and then synthesize it down to what people are REALLY asking. It turns out that when I boil it down, there are only really seven most common real estate questions that agents are asking.
In this clip from the recent Success Summit, I’m not only going to tell you what they are, but I’ll give you my answers to all seven of them. This is something special I felt that every agent needed to hear, so be sure to watch or listen.
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