Tom Ferry's 10x Game to Increase Your Business

LAS VEGAS – Of course real estate agents want to close more sales, but what is the best path to that success? The WHY is just as important as the HOW and WHAT when it comes to multiplying your business. That's the message Tom Ferry, CEO of Your Coach, wanted real estate agents to take away from his keynote address at the Zillow Group Premier Agent^® Forum, an annual event that brings together thousands of Premier Agents.

Ferry shared five tips for growing your business tenfold.

1. Do something today that your future self will thank you for.

The consumer deserves a better real estate professional, Ferry stated, and he believes that agents who work hard to build their businesses can help take less client-focused agents out of the picture.

2. Your income is directly related to the service you provide.

Ferry described a study that tracked 25,000 companies over 50 years and shared the secrets behind the success of the best performers:

1. Don't compete on price. Premium companies provide the best products and services. Because they can describe their differentiation, they expect — and receive — more business.
2. Only concentrate on revenue growth. The most successful companies don't ask “How much does it cost?” when it comes to marketing their business. Ask only how much you’ll grow when you go live with your offering.
3. Focus solely on 1 and 2.

3. Serve people well, care recklessly and you can take over the world.

Regardless of the time of year, the state of the market or the political climate, the questions and challenges people face with real estate remain the same. Real estate agents who want to grow their business 10x remain focused on client service.

4. Be who you are.

Whether you're an artist (a disorganized rainmaker), an operator (a fan of quality time with a spreadsheet) or an entrepreneur (a combination of artist and operator), Ferry suggests you stay true to who you are so that you best serve your clients according to your strengths.

5. Whatever you’re thinking, think bigger.

Yes, the industry is changing, but rather than thinking in terms of changes for the better or worse, think of it as evolution. Ferry urged real estate agents to watch the trends and pay attention to the teams they build and lead. Be dominant, care about your team and make it your mission to help them achieve their goals. Do the fundamentals, Ferry stressed, and the business takes off.