My associate is a top producing agent and used Mike Ferry throughout his professional career. After one year under his wing and with enough money, he pushed me to signup for the coaching program. I was reluctant at first because like many of you, I was looking at the $8,000 or $12,000 price tag and was nervous.
I ended up signing up for one-on-one coaching for $8,000 and paid it all upfront to help me budget better -- I did not want to worry about having the monthly payment if there was a slowdown. I wanted to know it was paid for and that I would always have the coaching. My goal signing up for Mike Ferry was to focus on expireds. The dream is to be so good at expireds that I do not have to do open houses and I can use that time to spend with my future family or if I remain single, just continue being a professional 'playa' ;)
My coach is named Mitch and he is out in Tulare and he is great. I did not get a deal directly from calling expireds and closing them yet, but I have made some great headway; including getting a $385,000 listing using the one minute Mike Ferry Presentation. The coaching program has really changed how I prospect. I USED to think I was a good prospector, but now that I am in coaching, I realize what the top producing agents do and I realize that I paled in comparison. Had I not done coaching, I would have never found out. What is it? I contact 30-50 owners per day and then I visit actives and expired and door knock the 10 around them.
The coaching program is really for accountability and for fine tuning. There is really a lot to learn and as my coach told me, 'Even with hard work, it will take about 1.5 years to really incorporate the Mike Ferry system' Has it been frustrating for me? Of course! Am I happy with my progression? Yes. Do I want things to happen faster? Definitely.
I went to a prospecting school recently and at the time, I had been calling expireds unsuccessfully for going on 9 months. They said that it really takes about 10,000 hours to be really good at something. This really helped me keep in perspective my progression.
Do know that the buck does not end at signing up for coaching. When you do signup for coaching, you will be 'strongly encouraged' to attend all the events. At first, I was like, this is a SCAM!!! But after going to the events, I see how it is helping me to become a better agent. So if you are thinking about joining, think about budgeting another $5k on-top of the coaching price to help you make the events and be ready to clear your schedule.
After you go to a couple events, you will realize that its the same thing over and over. I think of it a lot like basketball. Its a lot about mastery of the fundamentals. You master the fundamentals and you will make a ton of money or score a lot of points, irrespective of if you can do a reverse double hand jam.
My goal is to do Premier coaching for $12,000... why? Well, even though the coaching is the same at one-on-one, the big thing is that when you are in Premier you wear the ribbon. Who gives a fuck about the ribbon, but what is key is that at every event when you have that ribbon on, other top premier agents will be more receptive towards helping you out and being a role play partner. This is *key* to getting ahead. The old saying is true, 'Birds of a feather, flock together' You want to get in with that in crowd because they are the people that will take you to the six and seven figure earnings bracket. In fact, the biggest reason why I go to the events is more to network with top agents that are going someplace and that are making it happen. There are tons of agents struggling with negative mindsets. That does not help me and it will not help you. Find agents that have done it and they will show you.
In the events, you will hear Mike ask people, 'How many years have you been in coaching?' And its all kinda bullshit because his events are really a giant commercial for his coaching programs, but you know what? Its all true. What he says is true. You need to get to a point where his coaching is money you use to wipe your ass and is basically just a cost of doing business. Think of it this way, if you were a plane and you were flying from LAX to Tokyo, coaching is the same as the GPS, they constantly tell you those small points to turn until you get to Tokyo. Without GPS, is like many of you without coaching, you have an 'idea' of what you need to do and have heard what you need to do. Much of which is the 'same shit' but you are not executing and you are not around people that can help you get past some of the usual obstacles.
Remember, its all about modeling. Finding somebody that is doing what you want and getting the results you want and doing EXACTLY what they do. How they move, how they say, how they operate. That aside, the only question left is... are you coachable?