Mike Ferry on Success in the New Market
Achievement through Sharpened Skills

Mike Ferry answered many questions pertaining to how real estate professionals can be more successful in today's market in a recent interview conducted by LoanToolbox CEO, Tim Braheem. The Mike Ferry Organization* has provided training to real estate and mortgage professionals for over three decades with an extremely high rate of success. Ferry speaks from a wealth of experience, pointing out that the real estate market has been abnormal over the last five to six years.

"We are coming out of a five- to six-year trend in which home sales were market-driven. Just about anybody could have been successful in real estate with marginal effort," Ferry stated. "The type of market we are entering into now is a normal sales-driven market."

Ferry predicts it will take real talent and fortitude to succeed in this type of market. Real estate professionals will need to sharpen their skills and increase their accountability on many different levels. Structured discipline and a positive mind set will be key components to continued success, as well as having strong knowledge of current market movement and credit scoring fundamentals, and have the ability to work with a loan originator who can turn dead deals into closed transactions through sub-prime lending and other creative mortgage solutions.

"Real estate agents have to realize that their success in the past has not necessarily been a result of talent." Ferry explained, and continued with the following analogy: "If you're an orthopedic surgeon working near a ski resort that has icy slopes and you're fixing four broken legs a day, that doesn't make you a great surgeon. It simply means you're located near a resort frequented by some bad skiers in a peak season."

This Business Booster series delves into Mike Ferry's insights as to what real estate professionals can do to set and achieve goals, and have the mindset and discipline it takes to reach higher levels of success in a changing market.

Coming next: Mike Ferry on Setting Goals and Tracking Results