this post came from realestatewebmasters.com
i saw Borino on the thread!
the name at the bottom is the poster of the message below.


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I just wanted to update this thread here.

I just happened to be listening to some 15yr old tapes of Mike Ferry today(from our office library) and he did two very controlled studies of his 1500-2000 coaching clients. Each group talked to the exact same number of people (this was controlled). He had one group only cold call, call expireds, and call FSBOs. The other group only door knocked.

What he found was as follows: Both prospecting methods worked well obviously. But, the group that door knocked had 400% more listing appointments than the group that prospected by phone. As far as time was concerned it took the door knocking group 25% longer or so to talk to the same number of people as the phone group did.

So, it took 25% longer, but they ended up with 400% more appointments. Hmm.

I'm not trying to argue or sway anyone one way or the other. It's just that these results aren't what I would have originally guessed if you had asked me, so I thought maybe others would find them useful.

- Matt Mouser
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"he ate trash..."

Dam

estatereal, only 25% longer to door knock over cold call? Better be a FAST walker! As I'm sure you know it's easy to do a complete cold call in under 1 minute. I think it would take me that long just to walk from one door to the next nevermind wait for them to come to the door and give my spiel.

And they've got to be comparing "cold" door knocking with "warm" expired/FSBO calling. It obviously takes a lot longer to drive to and knock on the doors of just expireds and FSBOs. I find it hard to believe that you can get 400% more appointments knocking door-to-door than you can calling expireds and FSBOs.

very very true!

it is late and i was half reading and thought that it was interesting.

think about this. what if you put the expireds and fsbo's on a phone list and had hundreds of them to run through(and you called them every day for 2 hours). certainly there could be no faster way to pick up listings.


interesting thought......tomorrow when i make my calls, i will keep track of a few things and post the results. i really want to track this. i have had a pretty busy week. there is a chance that this survey might not take place tomorrow as i have a listing going live, another listing appointment, one on saturday and one on sunday plus i have a buyer appointment for a referral from my lender(i dont like working the buyers(time consuming), but if it is a referral i dont want to pass it off as the person giving me the business might think that i think that i dont want the business and maybee they wont send it my way the next time(lots of think's and that's in that run-on ;-)


here is what will be tracked.

number of calls in an hour
number of live people talked to
number of appointments
number of people who say "thanks for the call"
number of people who say "do not call me again"


cant wait to see the numbers!!!!!!!!!!!!!

Looking forward to it even if you can't post your results until next week. I've tracked those numbers over the last few years and my averages are:

Calls per hour: 30 (I like a leisurely pace)
Live answers per hour: 20
Follow-up leads per hour: 6
Appointments per hour: 0.5

Number of people who say "thanks for the call": 20
Number of people who say "do not call me again": 0

I'm intrested in this guy too

I found this forum post where a guy says he spent a day with him
http://www.famousagents.com/forum/telemarketing/33-telemarketing-avenues.html

I also found 818.361.0090 which is suppose to be his phone number according to
http://www.famousagents.com/forum/mike-ferry-organization/333-mike-ferry-compatible-brokers.html

I know a local guy who was a mike ferry coach for several years and he does tons of cold calling. he does the 2 head set calling

I also know Jeff Quinton that is mentioned in
http://www.themorningnews.org/archives/profiles/ferry_tale.php
the guy is a prospecting machine

RealDealer and estatereal, please share what you say on the phone, do you use scripts or just wing it?

I won't be posting any numbers as I don't track lately, maybe I'll look at my numbers from last year when I was tracking and post them here later on. Overall, I would go on 2-3 listing appointments a week when I was consistent. I was carrying 13 listings on a consistent basis...not very impressive either. I used the Mike Ferry scripts. One thing is for sure I only get under 10 leads a day from byownerdaily, my lead provider(3 yesterday) and I'm not going for the listing but rather for the quick money...I'm offering a flat fee listing. Yesterday I decided to try to go for the listing, if not possible then offer the flat fee listing. I'm not using scripts but I'm going to start again.

... my apologies to the OP for hijacking the Froy thread.

Going back to Froy...I'm a bit gullible and believe he is out there somewhere. In fact, I'm going to call that number and see if he answers then I'll report back here.

swflagent, you definitely need a script to keep you focused on your objective. Otherwise it's easy to get swept up into a long drawn out conversation that goes nowhere.

Remember this: the person asking the questions is the one who is in control of the conversation. The person who is answering them is the one being evaluated and qualified based on their answers.

So I believe the best script is simply a sequence of questions and the answers to those questions allow you to decide if you want to take the listing or not.

I believe in getting straight to the point because I find that saves the most time and prospects really appreciate it. So your first question should be your main qualifier. Don't beat around the bush! Ask them bluntly if they want to get their house sold right NOW! The answer you're looking for to all of your questions is an emphatic "YES!" Forget the wishy-washy "Oh gee-wiz I dunno, maybe, sorta." Those people should be redirected to your website or you can drop some info in the mail for them.

Your prospecting time is precious and your goal is to get appointments with HOT prospects who are ready to sign. Not people who want you to drop by so they have someone to talk to about their sick aunt.

You will have to develop your own script based on your personality and specific objectives. Just think it through. What information do you need? What does a prospect need to say to convince you they're worth your time? Write your answers down and turn them into questions to be directed at the prospect.

Thanks for your feedback RealDealer. I do have a tendency to get into conversations. I already know what to ask I just need to get back on track.

I know I need to change something to get better results. It's not the first time I've heard what you are saying.

Hey RealDealer,

I am wondering what kind of calls are you making, or I guess I should say who are you making them to? Are those to expired/fsbo or pure cold calls around listings? Or maybe a mix.

I have recently begun a door knocking campaign and I go around my listings first, office second and then any well priced one that I like. Right now I find I am making 12 to 15 contacts per hour at the door.

With so many people on the DNC I decided to give this a try and see what comes of it.

I found this on Arello.com
Candelario , Froylan Jaramillo
17105 PARTHENIA ST
NORTHRIDGE, CA 91325
USA
Contact Information
None

License Information
Number: 00875305
Type: Salesperson
Status: Active

First Issued Date:03/09/2005
Last Renewal Date: Not Provided
Expiration Date: 03/08/2009

I just so happen to know there is an official Froy website coming very soon:)

swflagent, I understand. Salespeople are often tempted to take the time to answer a lot of questions because they think that at the end of the questions there will be a signature. Unfortunately they fail to realize that the more questions they answer the less control they have over the conversation. And seller questions have a nasty tendancy to go in the wrong direction and you can easily give away too much information.

Too much information can only do one of two things:
1. Confuse the prospect--a confused mind always says no.
2. Make them believe it's easier than it is and that they can do it themselves. (This is a huge risk when prospecting FSBOs)

The hard part is knowing which questions are legitimate and need to be answered with a BRIEF, confident response. And which questions are just the prospect fishing for free expertise. And then to be able to recognize them at the moment and catch yourself before you give too much away.

You want to be able to send them off to your website if they're a weak lead, or get back to your qualifying questions if they're a good one, either way you need to keep the call moving in the right direction as quickly as possible. That's what a script can do for you if you have the disipline to stick to it--it's hard no doubt about it!

Rainmaker, expireds and FSBOs exclusively. If I ever run out of those to call without having enough business then I'll think about pure cold calls. Even then I would focus only on new (2-3 years at most) and high turnover neighborhoods. That's where you're most likely to find people who got in over their heads and need to sell quickly.

Great information RealDealer, I do believe I've been giving too much away. Thanks again!

I have been amazed by the stuff I read last night on Froy, today I decided I would find out if it is true

and.........

Froy IS REAL

I called a realtor I know, who was a trainer for MFO, to ask about this froy guy. He said that he met Froy a few years ago at a MFO convention.

He said Froy does more business by himself than most large offices.

He told me that his office is set up like a doctors office. You get an appointment and you sit in a waiting room. When you are called back for your turn (if you are a buyer), you answer a list of questions, then go talk to a mortgage person , then you get about 10mins with FROY who tells you what listing of his best fits you. If you are not intrested in that listing then he moves on to the next person.

He said sellers are treated the same way. He does have, like his own private MLS, he does not co-broke and is not a realtor.

He told me one of FROY's techniques is actually to call the owners of other REALTORs listing!!!