 Hello, welcome to Mike Ferry TV, I'm Ron Cronin. Some real estate agents spend a huge amount of time building relationships with prospects. They get to know them, become friends, share recipes, play golf, and in short, they do everything but sell. The problem is that building a relationship takes a long time and produces highly uncertain results. There is no guarantee that the buddy you've built and cultivated will ever list his or her home for sale, or list with you. Relationship building is a nice way to make friends, but you've come to the real estate industry to make a living. So let's move away from the concept of building a relationship and instead let's turn our attention to the concept of pre-qualifying. The process is like any other procedure in real estate, there's a script for it. When we follow the script, we get great results. So keep your pre-qualifying script everywhere. You could set an appointment in your office, your car, your home, so be prepared. Have it ready because you can never predict when business may come your way. The number one rule when it comes to pre-qualifying is to look for people who have to sell instead of those that want to sell. Who has to sell? Well, those that need a bigger home, a smaller home. They've been through divorce, they've got financial issues, they're in relocation, those whose families are growing and those who are empty nesters. These individuals need to sell a house, concentrate on them and leave to the others that do things the old fashioned way, that difficult task of trying to coax people into selling their homes. People that have to sell take action, sign contracts, move forward and buy and sell homes. Pre-qualifying will set you apart from your competition, it'll increase your listing percentage, shorten your presentations and improve the quality of your service. Thanks for watching. Holy smokes, I cannot believe my ears. I cannot believe that Ron Cronin with Mike Ferry's office, he's the president of business development just said that, made a video and put it on YouTube. That blows my mind. It was actually put out on my birthday back in May 21st, 2019. I watched it back then and it's really just kind of been lingering on my mind ever since and I'm just now kind of getting around to making a reaction video about it because this is literally why I am coaching. Because mainstream coaching is teaching you that it's not about the relationship, they're teaching you that it's more about the transaction, we need to find people that want to do deals now. We need to get deals done. We don't need to worry about trying to get to know people or try to help them. No, no, no, we're trying to find people and do deals. Those of you who know me know that I've been selling real estate since 2002. I was 20 years old, I made a million dollars before I'm 23, lost it all in the crash. What I learned through the crash and when I came back in a real estate, it took me having to lose everything, go through the crash, come back to realize that the only way to build an incredibly large business is to base your business on relationships over transactions. Now, Ron said in the video, he said some agents like to spend a little time with their clients, get to know them, play a little golf with them. To me, if I'm a client and my real estate agent is getting to know me, spending time with me, playing golf with me, I'm definitely going to use that agent when it comes time to buy or sell a piece of property. Now he goes on to say that building the relationship and when you develop this buddy, it's very uncertain if they will or ever list their home. And if they're going to list it with you, isn't that true with any prospect? Isn't that true? Regardless of what kind of prospect it is, there's no guarantee that they're going to list or buy from you. Okay, and you have no control over that. The only way that you can give yourself the best opportunity is to become their friend, find out more about them, get to know them, let them get to know you, let them start to feel comfortable with you. I'll tell you right now, no one is going to do business with somebody who they don't know, who they don't like, who they don't trust, who they don't feel comfortable with. All right, if you meet them, I guess what he's saying is, is we only want to do business with people we meet for the first time and want to do a deal right now. Okay, that's short term mentality training. Okay, what I want to teach you how to do is what I've done, which is build a massive empire, okay, as a single agent. See the reason why I'm able to do so much and be a single agent and still travel and speak and do videos like this is because of the way that I built my business based on relationships. It gives me leverage and every relationship I create turns into 10 to 20 deals to me over the life of my career, the repeat business referrals and referrals of referrals. Now, I think it's funny how he said relationship building is a good way to build friends, but you've gotten to the real estate business to make money and to make a living. Well, when you think about what he's saying there, okay, you got to think about this guy is trying to teach you how to build your business, right? And he's telling you not to build your business based on relationships. Okay, what do you think he's doing with this coaching business? Okay, they're building their coaching business, not on relationships. They're trying to make a living. All right, that's what they're trying to do to you. They're trying to just make a living. They don't care about you. They ain't trying to create a relationship with you or be your friend or be your buddy. They just want to make money to make a living. So he says literally, let's turn our attention away from building the relationship and turn our attention towards the process of pre-qualifying. Look, I don't know about you, but in today's world, people don't want to be sold, okay? They want value up front. They want to know you. They want to really feel that you care about what's going on with them, and that's when they're going to do business with you. And so he goes on to say that the pre-qualifying process is really about finding people that need to sell or buy right now, okay, not people that want to buy or sell, people that need to buy or sell. That's the only people we really want to focus on. And I think that's a big mistake. I built my entire business on people who don't want to buy or sell right now. I create their relationship with them, right? I focus on them just as hard as I do the people that want to buy or sell today. And as I'm working, I run into all these people that want to buy and sell today as well. And so now I'm building my business for now on the people who want to buy and sell right now and the future, people who don't want to buy or sell today, but liked me enough to do a deal with me, they're just not ready yet. That's where you really build a huge business because you cultivate this database of people who know who you are. Now we're going to build our brand with these people. Just build our brand. Build our brand. Build our brand with the people who liked us when they talked to us. Now they start getting emails. They see us on social media. They're watching videos. They're getting all kinds of different things. Mass texting is now becoming a big thing. And we're just building our brand with original content. They never forget who we are. And over time, we build such a large business. It's just like a force. We can't hold back. It's just like a snowball going down a hill that just becomes so massive. You can't hold it back. It's out of control. It's just so big. Now sure, I'm going to spend time, I'm going to spend more time with people who need to sell right now, of course, because they're in the process. And so we need to help them through the process and get to the closing, right? But the people who don't want to buy or sell, we're still going to spend time with these people as well. The more time I waste on people, the more money I make. Now one thing I will agree with him on is the fact that people that need to buy and sell, they're the ones that are taking action right now, all right? And I do believe that a lot of agents out there are spending too much time on people that aren't going to buy or sell anything today, you know, or even anytime in the near future. They're more like two to three years out, but we're treating them like they're one month, two months out, okay? So we got to start separating those two types of clients and know how to deal with both of those clients, okay? The one to two years out, five years out, you know, those clients, those are people that we want to put on our little machine to build that brand. Build that brand, build that brand. The people that we understand want to buy or sell today or sometime soon in the next month, the next two months, the next three months, even next six months is soon enough to start the follow-up process. And the way that we do this is we ask them why they're buying or selling, okay? We understand why they're buying or selling, the bigger reason behind why they're buying or selling, then and only then can we truly help them with their bigger goals, with what they're trying to accomplish and create a specific customized game plan around their situation. And that way they have the expectations of how we're going to follow up, what we're going to do and how we're going to accomplish the goals. I think another problem with mainstream training is, we're putting every single prospect in a box and saying, this is exactly what you say to every prospect. This is exactly how you follow up with every single prospect. And it's just not the case because every single prospect has a different situation, different circumstances. Things, it's just not the same. Every situation is different. And so how can we follow up with the same way when every situation is different, okay? So that's why I like to ask why I understand what their motives are and then create a game plan around that. So I just thought this was really interesting that on Mike Ferry TV, they're slamming the idea of building relationships with your clients when really this business is all about people. And this guy is a legend in the industry. Mike Ferry is a legend. He's the father of Tom Ferry. He was the number one coach in the industry. And it's just so interesting that a video like this comes out from his organization. Look, all I'm here to do is to show you how I've built my seven figure real estate business and I don't charge you a dime. I have a 90 day action plan full course and when you complete those, we start our coaching calls free of charge. Go to zero-to-diamond.com right now, make a free account, start the 90 day action plan, start the course and let me know when you're done so that we can have that call. Otherwise, if you have any questions or if there's anything in the world I can do for you, leave a comment below and I'll see you guys on the next video. Let's go.