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Tom Ferry’s Blueprint to be a $700k Top Producer

Tom has worked with some of the most successful agents and teams in the industry. He’s guided them through challenges and fears to achieve their ultimate goals. So how do you achieve top producer status? Here’s his blueprint based on the actual strategies that top producers use.

So, cue that energetic and inspiring Tom Ferry voice in your head:  “are you ready to crush your goals, overcome the fears that hold you back, and be the best version of yourself?”

Spoiler alert: you’re going to need a plan.

How Top Producers plan

90% of Top Producers have a real estate business plan. 81% have a yearly marketing plan. If you want to be a top producer, you need a plan too. What’s in a plan? Define exactly what success looks like for you, your team, and your business. Create overarching goals and then determine how to prioritize your time, every day, to accomplish the things that will ultimately drive your success.


Learn More: How to build a business plan to crush your goals


You need dedicated time each week to review the critical components of your business:

  • Listings & Pending Sales
  • Lead Pipeline
  • Team Projects
  • Marketing Campaigns
  • Yearly, monthly and weekly goals

Your business plan needs to answer:

  • What are your areas of focus to reach your goal?
  • What are you going to change in order to reach your goal?
  • What are the steps you and your team need to take to reach your goal?

Perhaps you need better tools at your disposal to boost the pipeline and build better relationships. When your goals are bigger you need to make sure you and your agents have more opportunities to work with, and that you can leverage technology to streamline workloads and prioritize time. The right platform can provide you with the tools to operationalize your processes and save major time with working your database.

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Taking it further with Expert Time Management

When you’re reviewing all the important aspects of your business each week, it allows you to be hyper aware of how each area is functioning. For your unique business needs and goals, take some time to rank your business priorities based on the amount of time you need to spend on each one of them. 

Marketing is Math, so Track What Matters

75% of Tom Ferry’s top producers make their business decisions based on data. This means they’re evaluating each aspect of their business and seeing what is working and what needs improvement. In other words, they’re tracking every effort. If you’re using a predictive CRM, this can be a much simpler task. When digital marketing efforts are tracked, conversations and website actions are automatically logged in the system, it’s easy to get a snapshot of your business as well as team member performance.

Out of the top producers that were analyzed:

  • 81% track their Cost Per lead
  • 96% Track Cost Per Appointment (CPA)
  • 86% Track Cost per Sale (CPS)

WE ARE LIVING THROUGH THE SINGLE BIGGEST COMMUNICATION SHIFT SINCE THE PRINTING PRESS (11)

How Top Producers Generate Leads

When you’re tracking your marketing efforts, you can budget effectively and fuel what works for your pipeline and your business. Tom Ferry’s top producers typically spent $3000-$5000 per month on marketing campaigns to generate leads. The majority prioritized their lead generation efforts as follows:

  1. Portals
  2. Direct Mail
  3. Facebook Ad Management
  4. A system like BoomTown
  5. Print
  6. Paid Search Advertising
  7. Community Events
  8. Event and Team Sponsorships

As the leads pour in, it becomes critical to make sure they’re managed effectively. With a healthy marketing budget, the right lead generation system, and digital advertising, it is typically too much lead volume to manage on one’s own. This is why most of his top producers have a team. They divvy up roles and responsibilities so everyone is leveraging their unique skill set, no prospect falls through the cracks, and the real estate company is run like a true business.

Building the Real Estate Team of the Future

Diving a little deeper into building a team like a top producer, the average team size is around 3-5 members, and  94% of these teams have defined roles and responsibilities. This means there that people are hired for specific tasks that suit their expertise and personality.

So what do you need to consider when you’re building this team?

1

Plan for long term growth

Map out your team structure. Determine what tasks to delegate, how many people you’ll need, and what your hiring timeline will look like.

1 (1)

Hire the right team members

You can’t build a dream team with the wrong people! Take your time assessing the needs of the role. Thoroughly vet candidates to make sure they’re a good fit for the job and your own company culture.

1 (2)

Delegate tasks to specialized roles

This goes back to your team structure. Divide responsibilities into specialized roles. Here are the most common team member roles among the top producers:

  • 77% have a transaction coordinator
  • 47% have a Personal Assistant
  • 42% have a marketing manager
  • 35% have a Listing Coordinator
  • 26% have an operations manager
  • 25% have a showing assistant
  • 24% have a telemarketer/lead nurtures
  • 12% have a home stager
  • 7% have a content creator

1 (3)

Facilitate team collaboration

Make sure you have the right structure, processes and tools in place to make communication and information sharing simple for your team. A CRM with the right tools can help facilitate teamwork and maximize productivity.

1 (4)

Keep your team accountable

If you’re not tracking the results of your hires, you’ll have no way of knowing who is performing and who needs assistance. Use a CRM that allows easy access to an overview of your entire business and helps you easily track you team’s progress to align with your goals.

Taking your Real Estate Business to the Next Level

Do you feel like you have what it takes to become a top producer? This isn’t the kind of thing that happens overnight. It’s about following this blueprint, creating a solid plan for your business, and empowering your plan with the right tools and technology to achieve success.

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