The latest instalment of Get to Know the Coaches we get to interview the Tom Ferry, arguably the biggest coach in real estate!
Before jumping into the interview I'd just like to say a big thank you to Tom for doing this interview while travelling through Europe. A big thank you as well to Marni Hale, the Director of Marketing for Tom Ferry who helped coordinate and get the interview done.
Without further ado, get to know Tom Ferry of Tom Ferry International!
How would you describe your coaching?
My coaching programs are built around an ecosystem that creates massive growth and duplicable results. The ecosystem is made up of a community of the industry’s top agents, industry’s most knowledgeable coaches, private mastermind groups and referral sharing (that most members say is worth the investment alone), exclusive member only networking and training events, and the proven systems needed for success.
What makes someone "coach-able"?
I always say “What got you here, won’t get you there!” Someone who is coach-able is willing to step outside of their comfort zone because they know that’s where change and growth happens. When they make that commitment, they are showing that they are willing to put in the time and effort to implement the systems and techniques to reach the next level of success in their business and life.
Do you identify more as a coach, sales trainer, mentor, or accountability partner?
I grew up surrounded by some of the best coaches in the industry like Zig Ziglar, Mike Vance, and Brian Tracy. I relate most to the title success coach, but the reality is that I provide all of those services, as any good coach should.
Who should hire you?
I often ask agents, “Are you interested or committed to being successful?” Those agents that are truly committed to success are the ones who will grow the most in our community. They know that they can be better agents/team leaders/owners, who serve more customers, and have a life and business that is by design.
Who shouldn't hire you?
Energy sucking vampires and agents who would rather complain than help their clients.
What makes you different than other coaches out there?
My coaching experience – nearly 30 years and over 10,000 hours – and my constant and never-ending hunger for learning and improvement. This has allowed me to identify and share the most effective business building techniques.
Have you sold real estate personally?
I’ve been in the training and coaching business since I was about 18 years old, and I’m now 46. I have nearly 30,000 hours of business coaching under my belt. That’s what I do. The insanely great agents from around the globe that work with us, use myself, our trainers, coaches and our ecosystem as a resource to grow their business. They're not looking for me to sell houses. Instead, to expose them to the very best in the industry, codify what they've done, convert it into a system that can be replicated, and allow them to run with it.
Where are you located geographically? Where are your clients?
My office is headquartered in Orange County, California. I have training events around the world and am honored to have coaching clients from around the world too.
What's your speciality?
My specialties are:
- Helping agents breakthrough the barriers that are preventing them from reaching their desired success
- Transforming rockstar agents into leaders who run a team that outproduces what they could have done on their own
- Teaching team leaders how to grow a scalable business that becomes sellable
Do you have systems for your clients? 3rd party or in house?
Systems are the foundation of my coaching programs. With my nearly 30 years of coaching, I’ve helped top producing agents implement systems that are optimized and proven for success.
Members of my ecosystem have access to my exclusive REsults App, Breakthrough by Design 10-week program, and a proven coaching program. Like I always say, “what gets measured, improves” and our REsults App gives agents the tools to track and measure success. It’s also an amazing way to network with top agents around the world for referrals.
What's your on-boarding process like? How long to get someone up and running?
As soon as someone signs up they get access to our exclusive ecosystem (see my answers below for what that includes). While that is happening, agents that are new to the program will fill out a self-assessment form so they can be best matched with a coach and a dedicated success representative.
What's included in your programs?
All members get access to our exclusive ecosystem that includes: private mastermind groups, the REsults app, one-on-one coaching sessions, ongoing group training sessions, discounted or free tickets to events, and access to a massive digital member center with tools, case studies, and exclusive resources.
Depending on where an agent is in their business, I offer three program choices: Core+, Elite+ and Team+ to support their individual needs. Most top producing agents begin in Elite+ and move up into Team+ for the remainder of their business.
What is the price range of your services?
My programs range from approx $6,500 - $32,000 a year, with options for monthly, quarterly and semi-annual payments. The cost of coaching is commonly covered with 1-2 new transactions (in major metropolitan locations,) and Tom Ferry coaching members earn 10X more than the NAR average GCI.
Term length of contracts and cancellation requirements?
The contracts run every 12-months however most agents remain members of the community for the life of their business.
What we know is that success doesn’t happen overnight, and those who are truly committed to success know that it takes time to see massive growth. We provide specific guidelines and actions to take, and if the customer does those things and still doesn’t succeed, we offer a money back guarantee.
What's your turnover rate?
For agents who make the commitment to building a better business, the turnover rate is extremely low. Most agents are members of the community for the life of their business.
What's the main reason people stop coaching?
People would like to tell themselves all sorts of reasons about why they stop coaching, but the reality is it comes back to the question of being interested or committed. Progress takes work and my coaching isn’t for everyone. Sometimes agents aren’t committed to the massive action required to reach the next level of success, and they choose to stop coaching.
Can you share documented and proven results for your clients increase in performance?
The success stories from our members are what drives us to serve them better everyday! http://www.tomferry.com/testimonials/
Best training for a new agent?
Most new agents feel overwhelmed and have no idea where to start. The thing is that if you feel overwhelmed it just means you are under planned. I think it’s important for new agents to establish the sales skills, proven systems, habits and strategies right from the start. Getting a solid foundation in those things from the beginning lays the foundation for success.
Do you hold any designations?
• New York Times bestselling author, Life! By Design
• Named #1 real estate coach for four consecutive years (Swanepoel Power 200)
• Included on the Inc. 5000 list for four consecutive years
• Voted best place to work in Orange County, CA
Anything else you'd like to add?
At the end of the day, it’s really not about me… It’s about the real estate industry as a whole, including the agents who are able to create the business and life that they’ve always dreamed of. Most importantly, it’s about the buyers and sellers who are then helped with superior service and skills. My goal from the beginning has been to create a better real estate experience for everyone, and seeing that come to life makes my heart sing.
Get to Know Some of the Other Coaches we've profiled: