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5 Biggest Takeaways From the 2014 Tom Ferry Success Summit

Posted by Carrington Real Estate Services on August 13, 2014 at 7:00 AM

Team Carrington at Tom Ferry Success Summit 2014

The Tom Ferry Success Summit is where the nation's top agents and brokers go to learn business and marketing strategies to help grow their business. Last week, Team Carrington was in full force learning about the hottest and most effective marketing strategies to help FUEL their business for 2014 and beyond.

This wasn't a conference about what's hot and shiny in tech. It was about business strategy and sales strategy for what does and doesn't work in growing their real estate business. It was about helping agents develop the right mindset to set them up for success for years to come whether they were new or experienced agents.

I asked some of the members of our team to share their biggest takeaways and here's what they had to share ...

1. "Focus on mindset."

Larry WhiteMy biggest take away from the Tom Ferry Success Summit was the focus on mindset. I spoke with many of our industry leaders and there was a common theme amongst all of them. They woke up daily with a purpose, they visualized their purpose, and they created a plan to DOMINATE their purpose!
Many of the leaders not only had a successful real estate practice, but they were also goal driven to succeed in other areas of their life such as knowledge, health, family, and finances. It is important to surround yourself with others that have the same beliefs as you.
Larry White, larrywhite.carringtonrealestate.com
Lesson: Ask yourself these questions in your business today:
  • Who do I want to serve (buyers or sellers)?
  • What is the value that I bring to them? In other words, how am I different from other agents in the marketplace?
  • What type of business do you want to create? What are your goals?
  • Then, what's your plan of attack for executing if even just a little bit every day?
The most successful people in real estate know what they're goals are and they work on making progress towards those goals daily. They surround themselves with like-minded professionals and mentors who are going to help them get to where they want to be. What are you doing to create the business you want?

2. "Learning from the cream of the crop and focusing on proven strategies that work."

Gonzalo GonzlezMy biggest takeaway was affirming and instilling the best known ways that have been proven to work from other agents and brokers. Things like:
  1. Dry erase paint to see visual goals, prospective listings, open escrows, active listings, measurable marketing ideas, etc. Putting this on the walls in a back office to help stay on track,
  2. Dominating your market, ( reaching out to Expired's, FISBO, NODS, families with new babies, etc.)
Gonzalo Gonzalez, gonzalogonzalez.carringtonrealestate.com
Lesson: Get organized and measure your daily progress. Even if it means putting pen to paper or setting up an actual dry erase board to let you know what your business pipeline looks like daily. It's a simple yet effective way to get and stay on track! Once you get organized, just keep working the numbers. Find opportunities to continue to dominate your market!

3. "How to use social networks like Facebook to build new relationships."

Joseph LimoMy biggest take away was how Facebook allows you to import your contacts and create a personalized market based on similarities of your current sphere of influence.
This will help me build new relationships. By targeting people who have similarities to people I already do business with I will be working with a group that I have a much higher success ratio with.
Joseph Limo, josephlimo.carringtonrealestate.com
Lesson: What are you doing to grow your sphere of influence and earn new business? This isn't just a numbers game, it's about strategy. Set yourself up for success by connecting and nurturing those relationships with whom you share a common interest. These are the types of people that are most likely to refer you and do business with you.

4. "It was the jumpstart I needed to kick my business into high gear!"

Ragina HooverI think more than anything for me, it was a reminder, a wake-up call to what I need to be focusing on and how to make my business better. Not just the basics but a whole new level of awesome and creative. I am awake again and ready for action.
Ragina Hoover, raginahoover.carringtonrealestate.com

Lesson: For some agents and brokers, they already know what they need to do to be successful. All it takes is a little re-inforcement and motivation from a group of people that shares the same passion and desire for growing their business as you do.

Surround yourself with people who want to success as much as you do. Seek out mentors who are willing to share their knowledge and years of experience to guide your growth along the way. Then, focus on executing if even just a little bit each and every single day!

5. "Inspiration was everywhere: from new agents experiencing success to seasoned agents whose experiences were so diverse."

virginia clarkI had only ever attended a one-day Tom Ferry event. Being able to spend so much time "in house" with Tom Ferry as well as top producing agents has given me insight into choices I am currently making regarding expanding my business.
While I don't lack dedication or motivation, I do lack an endless supply of time. One takeaway came from not only Tom but the panelists on two Master sessions: succeeding as a solo agent and building a team. I have set myself high goals over the past three years and met them, but cannot continue to increase production without bringing on team members. Even the successful solo agents were very clear that they have brought on assistants.
Another takeaway would be the importance of not giving up prospecting and dedicated "hour of power" time in the morning to work on your own business; letting the daily ups and downs and emergencies work themselves out before canceling priorities to jump into the mix.
Inspiration was everywhere: from new agents experiencing success to seasoned agents whose experiences were so diverse. We met an agent driven to success because of a child requiring heart surgeries with over $2 million dollars in medical bills. And then a rockstar agent who has set a goal to be the #1 agent "in the world" for his company. There will always be a real estate market, and there will always be breakaway top producing agents. My job is to continue to build on my success utilizing resources available to me and learning from the wisdom of others. A huge thank you to Carrington for giving me the opportunity to experience the Summit!
Virginia Clark, virginiaclark.carringtonrealestate.com

Lesson: You should be blocking off time daily to work on your business. Period. Whether it's working online leads or getting out in the field, daily prospecting should be a part of your daily routine and you should always be looking for opportunities to grow your database and close more deals.

Then, at some point in your career, you're going to hit a point where it's time to bring in outside help. Whether it's bringing on an assistant to help you manage your deals through to closing or bringing on buyers agents and growing a team. Start setting goals and planning for the future now. Ask yourself what type of business you want to create in 1, 2, 3 years from now. And start taking steps to make that happen.

What's your biggest takeaway?

What's your biggest takeaway from the Tom Ferry Success Summit? How do you plan to grow your business in 2014 and how do events like this help you reach your goals?

Topics: Agent Resources

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