Maximize Your Real Estate Potential – Evaluate, Adjust, and Conquer Your Goals with Andy Nazaroff
[00:00:00] Hey, so you guys can call me Andy. I’m known as Coach Andy. And I have the pleasure of, of coaching many, many highly productive teams in the Tom Ferry organization across the country. Some that you probably know like Matt Farnham’s group in Vegas and some that you might not know, groups that are doing a couple hundred transactions a year to, I think my largest is about 650 transactions a year. There is a well-oiled machine and then there is an organized chaos. We’ve got the full spectrum in the schedule, but right now we’ve been finishing up. A conversation with nearly every team I coach around. Okay.
You’ve, you’ve checked out how you did year to date. You’ve checked out what your numbers look like compared to your goal. If you haven’t done that, I would encourage you to, to do that. Okay. My goal was X here I am closed in pending year to date. Here’s what I need to do on my new appointments per week.
Here’s what I’ve been averaging [00:01:00] my new appointments per week, and what adjustments do I need to make? And the number one reason that you wanna do this. It’s something that, I heard this fancy word many years ago, and I’m like, I like words that make me sound smart because I need any help I can get. And the word is, Metacognition.
Has anybody ever heard that word? Metacognition is a fancy word that simply means increasing self-awareness. You know, metacognition happens when you are trying to lose weight and you put yourself on the scale. You’re now aware of your progress or not so much progress. Metacognition works probably with Nazar’s pickleball when he was playing against people that weren’t so good and steps up to people that are better.
He can see he’s now aware of whether or not his skills improved. Do you actually even lose when you play? So these days you do, cuz you’re a busy guy. Metacognition is your opportunity to, Hey, stop. Slow down. Take a look at your [00:02:00] results compared to what you want. And what Tom says is he goes all the time on stage, we’ve seen him say this a thousand times.
Here’s your goals, here’s your behavior. What do we gotta do to do that? Here’s what you want. Here’s what your actions say. How do we shore them up? And so what I wanna do with you guys is I’m gonna, I’m probably not gonna take all 30 minutes cuz usually, and I’m doing a coaching conversation. It’s didactic.
You’re, you’re stepping in and saying things back and forth, which of course you can unmute and ask me anything you can interrupt. I don’t care. I see this amazing group that says Nazar. Thank God that amazing group isn’t actually 17 nazar. I recognize you guys must be the crew in Eastvale. What’s up? Good to see you guys.
Good looking office. But I wanna ask you guys three compound questions and if you were. In a conversation with your team lead, or if you were in a conversation with maybe somebody [00:03:00] who brought you into five that might be, you know, incented to help you grow your business. I wanna challenge you to go over these answers to these three questions.
And for those of you guys, like on Team Farham, for example, I just had this conversation with some of you a couple of weeks ago. But I want you guys to consider this ready question number one. I just said it. What’s your goal for the year and where are you at? Closed and pending. What’s your goal for the year?
Maybe it was 32 transactions and you’re currently at 10. The compound part of that question is compound, meaning I’m gonna ask you several questions and it’s still number one, the compound. Part of that is, is that number still important to you for a reason? Like I, I can’t tell you guys how many times I’ve gotten into a conversation.
You know Jessica, one of your agents just the other day, got into the conversation. I said, so you wrote down 24. Awesome. Why was that important? Well, [00:04:00] because it was more than last year. It was more than I did last year, and last year I did four. Oh, okay. We are, we are pretty zealous 24 from four. We’ve never done what it takes to do 12.
Never done what it takes to do 18, and now we’re jumping to 24. That’s a big jump and a lot of discipline required to be able to get that increase. Some people have said, Hey, my number is, is this because I know it will drive me. And yet when you see their actual year to date, it hasn’t like their, their number is 32 and it said it will drive them, but they’ve only closed 10.
So, is 32 really driving you, or was it a number that just sounded sexy to you when you wrote it down? Was it a number that just you thought it would drive you? You know, the infamous Tony Robbins has said for, for seminar after seminar that people do do things for one or two reasons [00:05:00] to pursue pleasure or to avoid pain.
Well, Which one of those things is happening when they said the goal is blank and I just wanna do it because it’s better than last year, or my goal is blank and I thought it would push me, that’s probably not enough importance to you. So my, my compound question to you is, what was the goal for the year?
Where are you out close and pending, and why? If that is, why was that important to you? Is it still important to you? Got me question number two. I am a four Disciplines of execution guy and, and I was exposed to the book a dozen years ago when I was running the brokerage in Central California, and it was amazing how we used it to operationalize my managers and their offices, and I use it to this day in every team that I work with.
You have to have a lag measure. That’s your goal. The first question that you have. To have a lead measure, the thing you do daily or weekly that has influence that predicts you getting closer to that lag measure from happening. So [00:06:00] for example, if you wanted to lose 25 pounds, like my friend Robert Mack, you would simply reverse engineer that and say, okay, what do I have to consume every week and what do I have to burn?
That’s the lead measure. The lead measure influences and predicts the lag, lag measure happening. Question number two is what’s the lead measure for you in new appointments Met per week. Lead measure of new appointments Met is the number one in all of real estate. It’s the number one most influential and predictive thing to get your lag measure to happen.
I could tell you, and Tom Ferry likes to say it this way, show me your schedule and I’ll predict your success. I could tell you if you showed me how many new appointments you’ve gone on this year, I can hands down if you told me the lead sources predict how many transactions you’ve already done. It’s a real easy number to figure out because I see a lot of data sets.
So for example, I can tell you that if you guys are heavy in online leads, and I saw new appointments met somewhere around three to [00:07:00] five for every three to five new appointments met for online leads is one contract written. See a lot of data sets. If you’re better than that, those are really good, ready buyers or sellers and online leads.
If you’re worse than that, it’s probably more pay per click than it is Zillow or realtor.com leads. How many new appointments Met is a critical number for you to know. For this one reason, I’m asking you to know what question number two is, how many new appointments do I need to go on every week? Because you might need to make an adjustment in the second half of the year.
I don’t know if you’ve been following any of the economic news, but rates just spiked and then they dropped, and then rates are probably gonna spike again cuz if you’re listening to anything economic data in the finance world, the truth is about to come out. The jobs reports haven’t exactly been accurate.
Oh, the government hasn’t been accurate on their reports. And when the truth comes out, you’ll see, oh wow, we actually are in [00:08:00] an inflation era and maybe the rates will go up to try to just trust me, we’re gonna have a little bit of headwind. That doesn’t mean to scare you. That means adjust your appointments number because you might need to meet with more people to still hit your contract number.
Are you guys hear me? Question number two, how many new appointments you need to go on to be able to hit your goal? You might need to make an adjustment. Here’s compound question number three. What are the four to six lead sources that you’re working to find those new appointments? What are the four to six lead sources that you’re working to find those new appointments?
So in our ecosystem, Matt Nazar, Robert, and several of you others are, are, have been heavily involved for many years in Tom Ferry organization and in that ecosystem we’ve heard for countless conferences and [00:09:00] masterminds and retreats. Core four of a productive agent is past clients and sphere. Online leads, open houses and geographic farming past clients in sphere, online leads, open houses, and geographic farming.
Here’s the irony. We know it. We’ve heard it. Yet when we really dive into most agents as businesses, and you look in their their dashboards and you see whether it’s CSU or C T E or some other homegrown Google sheet, you look at lead sources of closings. There’s typically two and they’ll say the third one.
The first one is online leads. The second one is the referrals. People they know and then possibly here and there. Open houses. But teams and agents on teams and agents that are individuals actually effectively working, farming and actually effectively working open houses is a [00:10:00] huge miss in their business.
And truthfully, what they’re actually doing to operationalize elite system on past clients and sphere is a huge miss. Like they credit, I get this business from my past clients and my sphere, but the truth is they’re not working. They’re past clients in sphere. So my compound question for you, if the third source, excuse me, if the third, third question is what are the four sources that you’re working?
And you’re kind of like, well, I’m only working one or two. Follow up to that is, what adjustments do you need to make? What adjustments do you need to make?
What lead source do you need to add? What. Operationalizing do you need to do on past clients and sphere on the way you’re doing open houses? Are you just, you know, setting up shop on a Saturday and putting your signs out and hoping and praying people show up? Or do you actually have a system that starts on a Monday or [00:11:00] Tuesday for a weekend?
Open house? Is your open house attracting sellers in the neighborhood to to get a Comli Me call? Matt, I haven’t had an actual Zoom call from somebody in an airplane, so I want to know, is this actually happening while you’re in the air or are you guys about to take off? The reason they haven’t taken off to Cabo yet is because Matt’s still standing for a Zoom call.
It’s fantastic. Love it. Hope you guys have safe travels and enjoy your family time. So I wanna ask you the question of what adjustments he didn’t make and I wanna offer a few suggestions. You ready? Let’s start at the top. So I gave you the core four, and some of you’re like, but hey Coach, you said four to six.
Yeah, there’s, there’s 25 other ways that you can generate leads. The question is, what’s your tolerance for rejection and repetition? Because if you have a high tolerance for rejection and repetition, I’m gonna talk to you about circle prospecting. It’s a high contact sport, but it’s finding people that are thinking of selling.
[00:12:00] If you are a tech savvy person, we probably should talk about the eight keywords that are really playing well to attract seller leads to think about their home value. They’re not people that are gonna go, we’re ready to list our house, but people that are going, we’re curious about what our home’s worth and it’s coming from you’re, if you’re a highly technical person, there’s eight different sets of keywords and if you want, you guys got my contact information, you can message me.
I’m happy to send it to you. The first piece though is PCs. Oi. If you’re really effectively working your past clients and sphere, what’s that look like? Break it down. So I’m just curious, for those of you that are on the call, gimme a second to grab a slip, get my coffee, unmute or put in the chat right now.
What are the one or two things that you think you could effectively do to work your PCs? O I?
Are we afraid to put something in the chat? [00:13:00] Can I chime in? Yeah, do it. Thanks Rob. I was in my mastermind group the other day and we were, one of the agents in the group has this text message that he sends out that’s super cool. And he called a lot of expireds, but this can actually work with one of your own one listings in house.
And he basically says, Hey, I’m not sure if this is for you, but I’ve got an off market in your city. Right? Doesn’t matter what, I’ve got an off market in North Fresno. Right. If it’s Andy or whatever. Do you know anybody and No. I got an off market in Fresno that’s gonna be priced around six 50. Do you know anybody that might be interested?
That’s it. And he’s getting blown up. He said, this is the most conversion he’s ever gotten because he goes, half the people are like, lemme share it with my network. And the other half are like, well, I don’t know anybody that wants it, but I might want it. Can you gimme more details? And all it does is start a conversation and that text has been blowing up.
So like we’re doing it now on my team and we’re just hitting everybody. We up. [00:14:00] Everybody that’s a past client of ours. Anything that we have as a new listing, we’re just shooting it over and saying, who do you know that might want this? And it’s really, I would say, really amazing text. Thank you for sharing that, Rob.
Really amazing text to send to your PCs. O I. And what you made me think of as I was listening to you is I have a client in upstate New York. That for some reason. I mean, just maybe for the, some of you that might be in upstate New York, sorry, but the average sales price is 220,000. For some of you, their average sales price is your down payment, Robert Mack.
But this particular team was prospecting FSBOs and their agents like, we’re not like, we’re not able to get conversion from these guys because the FSBO is selling like that. And I said, well, what if there was a way to leverage the FSBO for your database? So we took this example, Rob, and we started emailing the 50,000 database of leads that they have in their BoomTown, a text that says, we [00:15:00] have a secret off-market listing that we know the seller will sell.
Here’s where it’s at. Here’s the general criteria. Let us know if you’re interested. All of a sudden this, you know, like this gold mining, it’s sifting from the bottom. People started raising their hands going, yeah, tell us about it. What’s the price? You’re engaging conversations they took FSBOs that they were struggling to convert and reversed it.
Yes, Rochelle, send out more CMAs C CMAs, and if you’ve been in our ecosystem, it’s the screenshot of the estimate. With a message that says, I have my opinion. Curious what you think. Look at that, Rob. Thank you bud. Ma code. So, so this is a Zestimate we printed out and we, what we wrote on here was we can help you sell your home for 3% more, at least 3% more than your Zestimate, or we’ll sell it for free.
So we combine the crazy offer that I talked to about with Nazar, with estimate. And I’m gonna go drop these off tomorrow to 50 [00:16:00] houses and the goal is 50 houses a week, you know? So I have a client in Glendale that is taking that method. The assistant is printing it out, all the zest. This is a lot of work.
They’re printing. It is a lot of work out. They’re printing out the zes estimates in walking order. So the address starts with one through a hundred. He’s got them in his hands in that order with a sticky note on it, like what Rob showed a yellow sticky note and getting engagement conversations. Matt, love what you put in the chats.
Dms sending individual videos to your past clients in sphere, and that’s spoken from a guy that crushes it with the sphere of influence and past clients and the experience. So can’t wait for you guys to dig into that more. So I asked the question of what could you do to engage to do more of with your past clients In sphere, there’s, there’s two to three basics.
Write this down if you’re gonna operationalize it. There’s two to three basics. Number one. Every quarter, they’re getting some sort of a personalized [00:17:00] message from you. Hopefully a conversation, but you guys know people don’t answer their phones, so it would be simply, Hey Nazar, it’s Andy. I know it’s been a minute since we talked last.
I just was hopping onto my phone. I recognized, oh my gosh, I haven’t talked to Nazar, and I wanted to drop a call, see how you guys are doing. If there’s anything real estate related I can do for you, please call me back. All it’s doing is tilling the soil. Guys, don’t overthink it. I’m not trying to sell ’em a house.
It’s tilling the soil that Andy’s still in the real estate business. Remember him? So a, a client of mine who I actually recruited over a dozen years ago, Jason Ferris. When he was an individual agent, we call it wet behind the ears. Jason was doing 20 transactions a year. I said, Hey, go home tonight and try this script on 10 people in your sphere.
First person on his list was his mother. He told me about it the next day, walked through the dialogue with mom and said, Hey, mom is by chance, is there anybody in your [00:18:00] sphere, a circle of, of people at work, maybe at your church, maybe around your social life that you heard that’s thinking of making a move?
She says, no, son. I can’t think of anything. She’s like, mom, really? Not even at work, how busy it is there. She goes, oh wait, so and so down the hall. I kid you not so and so down the hall. Just was talking about Bond House. He goes, awesome. Did you give them my card? She said, no. He’s like, why? She said, I forgot your own son is in real estate, and mom forgot to mention son’s name.
Why? Because the soil hadn’t been killed. He hadn’t kept himself top of mind to his own family. You’re not calling to tell them that you wanna buy a house. That’s one way to get me to press the red button on my phone every time you call. Just be you and be personal. Second thing, pc, s o i. I’m just dropping you guys a quick nugget here.
You probably know this. Probably be basic, but we’re probably not doing it like we should [00:19:00] be. Second thing, really basic. Every month they’re getting something. Marketing, something real estate related every month is, is the minimum. Some of you guys are doing it every week. Some of you guys are posting stuff to your social every other day.
Awesome. Even better. But something that you know that audience, whether it’s via email or you’ve uploaded them as a custom audience into your social channels, they’re seeing you market and be professional about real estate. And by the way, if you do that, that’s why you can be you when you call market to them and the passive channels so that when you actively call, you can just be the buddy, the friends, the relative.
And then the third thing is at least once a year, do something of an event to appreciate your clients and don’t limit it to just your past clients. I have a client that I have coached for many years. Some of [00:20:00] you know them that has a 14% of the size of their database conversion every year in direct transactions or referrals.
And by the way, that’s over 200 transactions a year. They don’t work online leads, they do past clients and sphere and geographic farming. That’s it. Every year, 14% of the size of their database is a direct transaction or referral. They do six events a year. By the way, most of their events are paid for by their vendors, by their affiliate partners.
They pay about $6,000 per event, personal money, and can track five to six deals from every event. I don’t know. Maybe that’s for you. Maybe it’s not. How about you just try one client appreciation event and do it well? There’s some amazing people, rock stars in this call that I’m sure can share some ideas.
So pc, s o i, you gotta have the phone call to be you. Be relational. To distill the soil, you [00:21:00] gotta send something at least monthly to market on a regular basis. And then third, do an event every year. You’re gonna get a lot of social juice from that too. There’s a lot of things else we can, a lot of add-ons, but that’s the basics for PCs.
O y. Let me do it one more. You guys good? Ready? Okay. Open houses. When was the last time we treated an open house as a listing tool? As a listing lead generation tool. I mean, we’re going to host an open house, obviously, because we wanna attract buyer leads. But when was the last time you operationalized open houses to be a listing lead gen tool and you launched your listing with the open house?
I’m just curious who’s doing that? Who’s saying that when we go and and launch this listing, the first showings, because the sellers excluded it is on the Saturday, the first open house, Matt, the last time I told them to, I have clients that are gen. Their goal [00:22:00] is when they launch a listing, they’re getting two seller leads for every listing launch.
Open house. I know, man. I’m not trying to make you feel bad. They launch a listing. With the open house and they’re getting two seller leads, meaning neighbors that are thinking of selling because they have simply changed their mindset that we have this listing, let’s use it to get a listing. We have this listing and there’s gotta be somebody within a 200 home radius.
It’s thinking of selling. Let’s find them. How do we find them? We get intentional with our marketing beforehand. We get intentional with you guys. Remember Nazar, the neighbors only open houses that we used to talk about 5, 6, 7 years ago, they’re back and they’re working post covid. Why? Because inventory is in our favor.
And if you ever wanna have a seller to come by and say nothing, but they’re checking you out, they’re standing on the side of the room and watching how [00:23:00] you interact with the consumers coming in, they’re checking you out that they want somebody that’s out of the box creative and they’re marketing and they’re seeing how you behave without even doing a listing interview with you yet.
Consider what is the marketing that I’m launching to, and, and I was, I was looking for the playbook that we had. In our ecosystem at TF and searching inside of our software, and I kid you not Rob, the first time that Tom taught on this was when he released Breakthrough by Design eight years ago. You wanna see a young version of Tom Ferry without glasses and all of his red hair.
It was hilarious. But he was talking about follow me on Twitter in this, in this training video. That’s how I used to have people follow him. But the basics of that were the same on Monday. You do this on Tuesday, you do this on Wednesday, you do on Thursday, you door knock. And on Saturday, all of the sell, all of the [00:24:00] prospective buyers can see it for the first time.
And yes, I know we have m l s regulations and everybody’s worried about, but you gotta be fair and compliant. There are ways to do this that still stay compliant.
What are you gonna do with it? How do you launch your listing? I said it the one time to a seller of mine. I said, you know what’s interesting, this guy iPhone, they they introduce everybody to the new iPhone. They market the snot out of it and then you can buy it later. But in our industry, for some reason, the MLSs an association, say you’ve gotta put it on the shelf and make it available to everybody and then you can market it.
Isn’t that backwards? That’s not how any of the rest of the industry were, and I know it’s gotta be about, you know, being fair and being able to have everybody, let every agent out there cooperate and have a shot. I’m not trying to exclude them, we’re simply trying to build up the demand [00:25:00] and let everybody through on the first launch day, which is the open house.
That’s all I have time for Azar. Was this hopefully helpful and you guys can get some value and maybe a little bit of back to basics. What are the core four? What are you doing to level those up and operationalize them? Good. You guys good? Maybe we can dig deep on a future one. Look forward to seeing you guys again.
Thanks for letting. Awesome, Andy. Thank you man. Thank you. Thanks guys.
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