
Key takeaways
- Takes 15 to 20 listings a month individually and 25 to 30 as a team, prospecting 8:00 to noon daily
- Closes about 77% of listing appointments after adopting a 100% pre-qualify standard, up from listing 5 of 10
- Purges the database four times a year to about 1,200 people, which drives close to 40% of the business
- Calls new expireds first, then hot leads, then lead follow-up, then old expireds and past clients
- Notes expireds now cluster at the first of the month, a bonanza when the 1st lands on a weekend
- Stacks accountability: 7:30 role play, daily text partners, 1:00 affirmations, and an assistant who sits in while he prospects
- Sets minimum standards on price, commission and listing length, which forces sharper scripts instead of cutting the fee
Transcript
00:00 — Welcome and introducing Mike Dardis
Ren Jones00:00
It’s that time. Welcome to Roadmap, how to take three listings a week until you’re ready for more. Each week we interview a great agent who’s consistently taking two, three, four listings, and possibly five this week, and we have an exciting guest today. We encourage you to take notes and apply as much of the knowledge as you can, and then use the copycat principle and apply it exactly. If you’re watching on Vulcan7, you’ll have an opportunity to ask questions during the broadcast. My co-host is under the weather today, she’s sick and watching the show — I hope you feel better, I know you’re going skiing next weekend, so have a lot of fun with that. Let’s jump in. Before I introduce my guest, I want to remind everybody that we are also simulcasting the show on the private Lead Gen group on Facebook — they have 41,000 members now — so we have a large audience there today as well, and we’ll be pausing for a commercial message during the show as a thank you to the Lead Gen folks. Let’s welcome our guest today from Cape Coral and Fort Myers, a lot of that area — Mike Dardis.
Mike Dardis01:23
Hello everyone.
Ren Jones01:26
Welcome, glad you could be here. A lot of people watching this are trying to get the hang of this thing where they can take a listing every week, or two listings every weekend — I’m very grateful, and hopefully we can drive some business down to you. What’s the best way for them to reach you? I see you have a website, dardisgroup.com — is that the best way?
Mike Dardis01:48
Yeah, my website dardisgroup.com, my email is mike@dardisgroup.com, that’s D-A-R-D-I-S group.com, or you can contact me directly at 239-542-2822, and we service the Cape Coral, Fort Myers, Bonita Springs markets in Southwest Florida.
Ren Jones02:11
Great. And if you’re not sure whether he serves the market, take a chance, he’ll find a home for it, maybe it fits in that area. So see how much business you can send to Mike Dardis in referrals down there. It’s cold, a lot of people need a nice home down there, so even if any of you — maybe you should get a home down there as a second home, because you’re going to be listing so much property now you can afford it. So we’ll have a little bit of fun. Thanks for being on the show, Mike. And by coincidence, last week we had our handling-objections show, and I pulled up a little scrap of paper — it’s at the Drake Hotel, I was on a treadmill next to you, and you gave me this great objection handler for FSBOs. I wrote it down and obviously I’ve kept it, because I was showing it on the show last week.
Mike Dardis03:01
Wonderful. It was actually objection handlers for expireds, and it’s a great one.
Ren Jones03:06
I thank you again for that, because it definitely paid off very nicely over the years. So tell us about how your business operates, your morning routine and things like that.
03:16 — The morning routine and prospecting side by side with his son
Mike Dardis03:16
It’s a pretty basic morning routine. Start at 7:30 with role play, we’re on the phones by 8, and we prospect straight through to about 10 o’clock, then a quick mindset break, 15-minute team meeting, back on the phones till noon. That’s like clockwork every morning.
Ren Jones03:39
And you say “we” because you were a one-man show for the longest time — is that your son that’s involved?
Mike Dardis03:42
Yeah, I prospect side by side with my son Andrew, and we call the same people back to back, keep tabs on who’s talking to who, and double our chances of setting appointments that way.
Ren Jones03:57
And what’s a typical month? How many listings do you take in a typical month, averaged out over the last year?
Mike Dardis04:05
Individually I take about 15 to 20 a month myself, and as a team we’re probably 25 to 30 in a typical month.
Ren Jones04:19
That’s wonderful. So you individually are taking four and a half to five listings a week. Folks, pay attention, there’s a lot of good thoughts here, and if you get an idea just to raise it one extra listing a week, we’ve got it made. So who do you call first?
04:40 — The calling order and the first-of-the-month expired phenomenon
Mike Dardis04:40
Start up with the new expireds of course, to beat the competition there, and then we roll into our hot lead follow-up, where we typically get most of our appointments. By then we’re probably close to nine o’clock in the morning, and we’re rolling into our lead follow-up. Then we finish up the morning with old expireds and past client calls.
Ren Jones05:10
And not as many expireds as in previous years — I don’t know if that’s true in your market, but the old expireds get a little more valuable now.
Mike Dardis05:19
Very true. It seems like expireds have almost melted down to just the first of the month being the key time — we get more expireds the first of the month than we do all the remaining days of the month combined.
Ren Jones05:32
It’s an interesting phenomenon, always paying attention.
Mike Dardis05:36
What a bonus when the first of the month falls on a Saturday or Sunday — your competition goes way down, make a lot of money those days.
05:48 — Purging the database to the 1,200 most productive past clients
Ren Jones05:48
So then what are you doing with your sphere and past clients? How do you really cultivate them, because you’ve been doing this a long time — how big is your database?
Mike Dardis05:57
You know, after almost 30 years in the business you’d think it’d be tens of thousands of people, but we’re in a second home market — a lot of people eventually move back to where they’re from, never to be heard from again. We purge our database four times a year to keep it just to the most productive referral and past clients, so we maintain really only about a thousand to 1,200 people in that database.
Ren Jones06:27
But it sounds like high efficiency there, because you probably get a pretty good yield out of that 1,200.
Mike Dardis06:34
We do, it is our single biggest source of business, close to 40%.
Ren Jones06:41
Wow, awesome. So how do you touch them? You call them obviously — tell us.
Mike Dardis06:51
That’s part of our business plan for next year. Right now it’s simply a calling combination with a quarterly mailing campaign, and we’re implementing video and email marketing to that database starting in 2018.
Ren Jones07:07
Funny you bring that up, because that was the subject of my coach call this morning. I’ve used you as an example — I’ve pulled up four other people and said, “Take a look at this.” You had a series of two or three evergreen videos, because you can use them over and over again, directed toward for sale by owners, so they can see how professional you look and sound, and you’re giving them advice. It sounds like you were using that tool to rake in business, because it doesn’t take a lot of time to send that out to FSBOs.
Mike Dardis07:47
We were doing a lot of video marketing a few years ago, we’d gotten away from it, and now we’re recognizing we need to dive back into that, especially with our past clients. Some of them haven’t seen you in maybe two decades, so it’d be nice to expand that beyond your voice over the phone.
08:11 — Where the scripts came from: 20 years of Mike Ferry and a coach
Ren Jones08:15
Where did you learn all this, and where did you get your scripts?
Mike Dardis08:18
It’s a combination of the Mike Ferry seminar — I’ve been doing that for twenty years. We were doing a good chunk of business, about 90 deals a year, mostly with for sale by owners as my primary source. For some reason, I don’t know why, it’s not that I’m that smart, but I just started prospecting pretty much week one in the business, and I learned by trial and error. That was good, because it taught me a lot of different ways to handle objections besides the same ones everyone else is using.
Ren Jones08:56
And then you’ve been doing Mike Ferry, using those scripts from the Mike Ferry organization?
Mike Dardis09:01
Yeah, the Mike Ferry component added the discipline, the schedule, the practice and rehearsing — all that element I was missing. It really gave me a high level of efficiency and polish in my scripts.
Ren Jones09:19
And you’ve been attending those events for a couple decades now. You mentioned a coach — is that one of their coaches?
Mike Dardis09:33
I’ve had a Mike Ferry coach pretty much 20 years now.
Ren Jones09:39
So there’s a return on that, because the coach is not cheap, so you’re getting that return. Would you encourage people watching this to get involved in something like that, write a check to somebody to guide you?
Mike Dardis09:54
Totally recommend it. I’ve got my own coach, my son has his own coach, and I’m in the process of hiring another coach, so I’ll have two coaches now. It’s like hiring the boss, because we don’t have a boss, do we? It’s just a thing to keep the accountability factor, that’s the huge part of it.
10:16 — A stack of accountability: role play, texts, affirmations, an assistant
Ren Jones10:16
So coaching is an accountability factor. What other accountability features do you have?
Mike Dardis10:29
I’ve got a lot of accountability. The role play at 7:30 is one. The working out in the morning — I’ve got a thousand-dollar challenge on a fitness competition I’m in, so that forces me out of bed early and working out. My 7:30 role play calls keep me on schedule in the morning. Then of course prospecting side by side with Andrew — if I don’t start calling those expireds, I know he’s going to get them before me, so we’re right in there dialing at the same minute. I’ve got daily text accountability with Brianne Llewellyn, who has done this video with you.
Ren Jones11:11
Yes, she was episode six. So now we know two of her accountability partners, you and Hal Swasey, great guy Hal.
Mike Dardis11:22
So we text each other throughout the morning as we set appointments, and then I have an accountability to do affirmations at one o’clock with another Mike Ferry agent. At the end of the day I have to call Brianne and tell her what I actually did that day, whether I achieved my goal or not, and why. And then I text my coach three great things that I accomplished each day. Those are the main ones.
Ren Jones11:56
You’re painted into the corner, you can’t wiggle out of that — you’re going to have to come up with twenty listings on your own every month. And your banker must love you.
Mike Dardis12:05
We just added a new one — I’ve got a personal assistant for Andrew and I, so she’s in our office literally listening to us as we prospect, taking care of anything that comes up throughout the prospecting, so that we have no excuse but to be prospecting, or presenting, or talking to sellers for price reductions all day long. That’s a huge accountability, someone right at your side looking at you, so you can’t go on the internet and goof around when you’re paying someone there to keep you accountable to production. That’s helped tremendously.
Ren Jones12:43
This has got to be a great living, because when you look at how much production you’re going to do — where are you going to end up in total sales this year for the team?
Mike Dardis12:51
220 this year.
Ren Jones12:54
What’s the price point down there?
Mike Dardis12:56
Our average is 326 right now.
13:02 — The standards experiment: mailing the keys back over six months
Ren Jones13:02
It’d be fun to share with people, and you’ll remember this because you were the star of that piece — a little six-month experiment. This was a market where things weren’t selling that fast, you were listing a lot of homes and selling maybe half to two-thirds. The whole theme was standards for a listing you would take, and we wanted the same standards for a buyer you’d work with. Can you comment on that? You had a standard that it was a six-month listing contract, and because a seller sent it back and changed it to three or four months, you actually mailed the keys back to them because they wouldn’t go with six months. You had a rigid standard to follow based on price, terms, commissions. Can you comment on standards in our business?
Mike Dardis13:53
That was a time where my coach was coaching me personally, and if you ever have that privilege, you better do what he says or you’ll waste the experience. So I took full advantage of it, and the first thing he worked on, because he saw it going on many times, was I was up to ten listing appointments a week and maybe taking five listings in that time. He said you really should be going on maybe seven to take five instead of ten. So we implemented standards: every appointment had to be pre-qualified 100%, the listing we took had to be within 5% of the market value of the home, and we put other standards in place on a minimum commission we would charge and a six-month listing length. Of course it was a down market at that time, so those standards were critical. The pre-qualifying element alone actually took the listings taken to seventy percent — actually more like 80 percent — at that time. It was huge, that’s what gave me weekends off, got me home at a decent time. We’d go on maybe seven appointments, take five, it worked perfectly.
Ren Jones15:20
So you just amped up that pre-qualifying process, and wouldn’t even go — you’d get back on the phone and find a better appointment, is that how that works?
Mike Dardis15:29
The pre-qualifying process became critical — looking for motivation and urgency, that they had a time frame they had to achieve their goal by. And being a second home market, a good percentage of our appointments are over the phone, not in person. Back then they would fax a listing in, and of course they’d raise the price from what we agreed to on the phone, or change the commission, and we’d have to call them up and say, “We can’t do that, send it back.”
Ren Jones16:05
One of the benefits of a resort market is you can do listing appointments over the phone, it’s a wonderful benefit. So today, how’s your batting average? I assume it pays off from that experiment — I remember it so well, that must have been 12, 14 years ago. For every 10 appointments you go on, how many do you take?
Mike Dardis16:32
I would think it’d be better than it is right now — it’s 77 percent at the moment, just under 80.
Ren Jones16:37
So you take somewhere between three-and-a-half out of four and four out of five. That’s better than before, so it’s an improvement, and you’re taking more than most people watching, with a couple exceptions.
17:00 — Standards for buyers, and how minimum standards force better skills
Ren Jones17:00
You create a lot of homeless people who are living in the house locally and also need to buy — do you have similar standards for buyers?
Mike Dardis17:14
We encourage standards for the buyer side. I have a buyer agent department and a gal that manages that for us — the typical things, pre-qualified by a lender, not having a home they need to sell before they buy, unless we’re handling that. And I’ll tell you one side benefit of having minimum standards I never expected: because you wouldn’t go below a standard, it forced you to get better at the scripts and the objection handlers, because it wasn’t an option anymore to be slimy and cut your commission, or take a shorter listing, or get the listing by buying it.
Ren Jones18:01
Fantastic. So on a different note, we see so many teams out there that are buying leads — there’s a lot less prospecting — and the margins get to where they’re doing thirty million, forty million in gross revenues, but their take-home is like 10%, 12%, 15%. Would it be fair to say you’re keeping the lion’s share of your net commission?
Mike Dardis18:38
Definitely. That’s part of the benefit of working your past client database, because they’re full-commission customers. Obviously expireds and FSBOs, if you work them right, are going to be full commission. We do not buy leads off the internet directly. We do have some services where we’ll pay a referral fee, but we’re extremely selective — we use common sense, we’ll pay a 25% referral fee gladly, as long as it’s not a low-end listing. If they want more than 25%, we’ll consider it if it’s a higher-end luxury property, but you don’t care for that stuff, it could really screw up your bottom line.
19:26 — Staying on the call: one more question, and focusing on them
Ren Jones19:26
What are the challenges a lot of people watching have — you’ve seen this and we’ve both experienced it — is staying with the call. They call an expired or a FSBO, they get a reflex no, and they feel a little panicky and say, “Well, good luck to you, have a good day.” Can you comment on getting through that, staying with the call a little longer? If we came down to Cape Coral, we’d probably find a lot of the expireds are meeting with the same three or four people, you and two or three others, because you’re able to stay with the call a little longer.
Mike Dardis20:22
It’s a multiple thing. The first part is obviously knowing your scripts — when you know your scripts, you’re not in your head thinking about what to say next, so now you can focus on listening, matching, mirroring, those techniques that keep people on the phone longer. Another thing is I don’t take my calls so seriously — if somebody cuts me short or I don’t get all the way through the call, it’s like, “Fine, next.” My attitude as a result is much more conversational, much more about them and what their goals are, than me trying to get through the call on the script. One of the best things I do is make it a game — my value for each contact I make is somewhere around 60, 70 dollars a contact, so if it doesn’t go the way I wanted, no big deal. But I do try to push through — my favorite game is to just ask one more question than I’m comfortable with. You’d be surprised how far that pushes you through to more appointments.
Ren Jones21:36
So recapping — asking one more question than they’re comfortable with. If everybody on this call would do that, when you’re feeling a little agitated and want to say goodbye, instead say, “Wait, wait, one more question,” make it a game, and then focus on them versus you, because if they smell that commission breath, like “I need a listing,” versus focusing on solving their problems — is that right, Mike?
Mike Dardis22:07
Yeah, I find that way I’m more relaxed on the call, which makes me more conversational. From my role play partners, that’s the number one positive feedback I get, is how conversational I am when I’m on the phone doing the script.
22:29 — Tracking the numbers back from the goal
Ren Jones22:29
There’s a little clue there, folks — he said sixty to seventy dollars a contact, so he’s tracking numbers and measuring that. As we know, performance measured is performance gained. Can you comment on tracking numbers — what does that look like, daily, weekly, big picture?
Mike Dardis22:50
I’m a recovering analytical, so I try not to get too into the numbers, but I track them with the numbers analyzer that Mike Ferry provides. It’s a daily thing — forty-six contacts turns into three appointments set, turns into five listings a week taken. It’s pretty automatic once you get the numbers down. Looking at 2018, our goal is three hundred as a team, so all that really meant to me was fifty-four contacts a day instead of 46. When you know your numbers, it’s pretty easy to get the outcome you want.
Ren Jones23:25
So as Bernie Gallerani says, control the controllables — you’re able to do that, like, “In order to get to this number we just need to do this on a daily basis, go on this many appointments at a 77% batting average, and then we’re there.” It’s that automatic.
Mike Dardis23:43
Yeah, put a lot of thought into the plan, know your numbers, and then just work the plan, simple as that.
23:54 — Team structure and the goal of 10% market share
Ren Jones23:54
Our tech crew set this up today in a unique fashion, an improvement over some earlier iterations, except I can’t see the chat — if they can lift that smaller monitor down low and put it up here, I could see some questions on the chat. So let’s see what questions people are asking. Mike, how many people are on your team, besides you, Andrew and your assistant?
Mike Dardis24:41
Right now the team is growing — we have a goal of 10% market share, which will be 450 deals a year within the next three years, so we’re a little bit overstaffed at the moment anticipating that growth. I’ve got full-time buyer agents on our team, a listing coordinator with an assistant, and a transaction coordinator. And of course Andrew and I have our personal assistant. We also have a field coordinator doing all the signs, pictures and all that stuff as well.
Ren Jones25:24
Super, that’ll help them get an idea, because this is all about the net — we have to be as efficient as we can. Obviously the prospecting, expireds, for sale by owners, past clients, sphere of influence, that’s the gas in the engine. If they didn’t do that, if he bought the business, he’d probably have ten more people but wouldn’t keep much of the money. People are asking — earlier they caught the idea that you keep about 1,200 people in your database and you keep calling the herd. What determines who gets taken out and who gets kept in?
Mike Dardis26:09
Good question. There are a couple of ways out of our database. Probably the most effective way is when they say, “Please don’t keep calling me,” we get rid of those people — not too many, maybe a month at the most, we take them out. A lot of times they move out of our market, and we keep track of them as long as we can, but eventually the number doesn’t work, we can’t find a number, and naturally they’re out. That’s not all bad, because we’re replacing them typically with another 15 new closings each month, and the adopted buyers that come along with those. That’s how we keep growing the database.
Ren Jones26:54
It sounds like a good system, because if they moved to Utah 14 years ago and seem uninterested, they’re probably not doing anything in Cape Coral.
Mike Dardis27:00
They do come back, so we stay in touch as long as we can, because they usually know someone here, have a family member — that’s the reason they came in the first place. So it’s good to stay in touch even if they move out of your market. You have to read between the lines every time you talk to them and figure out what the odds are. As long as they’re open to me calling them and it’s an easy call where they’re not fighting my contacting them, it’s good.
27:34 — Daily affirmations as accountability
Ren Jones27:34
Can you please expand on the daily affirmation accountability call you do — how often do you change your affirmations?
Mike Dardis27:42
Affirmations are critical to change your belief systems. I have five affirmations — you probably don’t want more than that, I’ve been recommended to have fewer — and I just repeat those five affirmations three times apiece. You’ve got to do them really passionately, with energy and enthusiasm, so you’re really pounding that in there, every day. My affirmations partner, some of you might know, is Michael Young, and I do that every day at one o’clock.
Ren Jones28:22
Those things really work. I always notice when they work — it’s when I stop doing them, then I notice they were working.
28:33 — Keeping a prospect on the phone past the reflex no
Ren Jones28:33
Please give an example of what you’d say to keep a prospect on the phone. Actually, let’s use this — it was that objection handler you gave me a few years ago, when they say, “We’ve already relisted with so-and-so.” Do you remember that one?
Mike Dardis29:01
You’re going to have to refresh my memory, Ren, I’ve got a couple of them.
Ren Jones29:05
You said, even though they said they’d relisted, you just say, “When can I schedule my interview?” And you were telling me one out of five — basically they’re lying, they’d relisted with Nancy or whoever, and they’d say, “Well, maybe we could meet Thursday afternoon.” So you didn’t take it at face value that they’d literally relisted, and one out of five gave you an opportunity.
Mike Dardis29:37
There are dozens of ways to keep someone on the phone when they’re trying to cut you off. Sometimes just use a pattern interrupt and throw something back at them that they said, or I might do a high-level agreement — if you’re constantly agreeing with them, it’s hard for them to terminate the conversation early. I try to really pay attention to what they’re saying and look for those little nuggets, so I can use that as a lead-in to the next question.
Ren Jones30:17
How can they hang up if you’re agreeing with them? Especially FSBOs — “Well, we just want to save the commission.” “Who could blame you?” How do they hang up on that? And we’re calling them all on their cell phones now, so they may be busy doing something, big deal, you file it away and call them back again.
Mike Dardis30:40
That agreement piece is huge, because too many times agents get on and want to get in an argument with them. That’s sudden death — you sound like every other inexperienced agent when you do that. So set yourself apart, high level, and keep it going.
31:26 — A live FSBO role play
Ren Jones31:26
Good questions, folks. We could do a quick little role play if you want — you call an expired, past client, FSBO, what do you want to do?
Mike Dardis31:40
Since people aren’t getting that many expireds, why don’t we do a for sale by owner?
Ren Jones31:44
Great.
Mike Dardis31:47
Ring ring ring.
Ren Jones31:50
Hello?
Mike Dardis31:51
Hello Ren, it’s Mike Dardis over at Century 21 Sunbelt. I noticed your ad online — I work with a lot of buyers and sellers in the neighborhood, and I was wondering what I could do to help you.
Ren Jones31:58
Bring me a buyer — will pay you one percent.
Mike Dardis32:05
I appreciate that, hopefully I can take you up on that, Ren. How much time did you plan to take before you’d consider interviewing an agent like myself for the job of selling the home?
Ren Jones32:17
Well, we just want to try to sell for about three weeks. We sold our last home ourselves, and this is a good market, so we’re going to try it for about three weeks.
Mike Dardis32:28
Okay, sure, give it a couple weeks, see how it goes. So it sounds like it’s nothing new to you, you’ve done it before. If you sell it, where are you going to go next?
Ren Jones32:36
We are going to Butte, Montana, 20 acres.
Mike Dardis32:41
Wow, 20 acres, that’s exciting.
Ren Jones32:43
We have our eye on a place there and we’re hoping to wrap that up real soon.
Mike Dardis32:53
Great, so it sounds like you’re getting ready to settle there. In a perfect world, how soon did you want to have this home sold?
Ren Jones33:04
I think we’ll get it under contract here in the next week or two — we have somebody coming back for a second peek on Saturday.
Mike Dardis33:15
Great, hopefully it’ll be sold and you’ll be on your way. Other than the ad, are you doing any other methods to market it right now?
Ren Jones33:22
No, that seems to be working — what we’ve got out there seems to be making the phone ring. Of course a lot of people want special deals, but so far so good.
Mike Dardis33:36
Great, so you’re getting a lot of calls. Now, is the price 399,9 firm, Ren, or are you open to offers on that?
Ren Jones33:43
We’ll look at anything that’s close to what we want.
Mike Dardis33:51
So maybe some offers within reason. I’m just looking here — we’re seeing about eight homes a week sell with real estate agents in Cape Coral right in your price range, so you should be getting a lot of those calls. I’m curious, what made you decide to sell yourself rather than list it with an agent?
Ren Jones34:05
To save the money.
Mike Dardis34:10
I understand, see if you can save that commission. Of course, those buyers are working with agents, so they may or may not know your home is available. I’d like to apply for the job of making sure yours is one of those eight a week that are selling in your price range. Ren, are you familiar with the techniques I’m using to personally sell three to four homes every week here in the Cape?
Ren Jones34:31
Three or four homes a week? No, I’m not familiar with that.
Mike Dardis34:35
Well, what would be the best time to show you, if you had a chance? I can catch up to you — hoping today or tomorrow at 4:00.
Ren Jones34:44
Probably tomorrow. You’re welcome to stop by, or you want to just come to our open house on Sunday?
Mike Dardis34:50
Actually, if you have an opening tomorrow at 4:00, that works a little better for my schedule, if that’ll work for you. And Ren, if what I say makes sense and you feel comfortable and confident that I can sell the home and get the price you need to net to make that move, would you consider listing your home with me and taking a more aggressive approach?
Ren Jones35:09
It’s all about the net — we have a certain amount of money we want to get out of it. Tell you what, you can have anything over 390.
Mike Dardis35:24
So as long as you get 390 in your pocket, you’re alright? Well, I haven’t seen the home yet, so I can’t answer that, but I look forward to seeing you tomorrow at 4:00 and getting you one step closer to Montana. If I can’t get that price you’re looking for, I’ll be up front so I don’t waste your time.
Ren Jones35:37
Fair enough. Okay, we’ll see you tomorrow at 4:00. Good, so that works. Is that the one you use?
Mike Dardis35:45
Yeah, I use it probably four or five times a day — we have more for sale by owners daily than we do expireds, so it’s definitely becoming an increasing script I’m using.
36:01 — Two more objection handlers: other agents and “where were you?”
Ren Jones36:01
Two more from the chat and then we’ll wrap up. Deborah asks a two-part — first, what do they say when they already have other agents coming over to interview them and they don’t want any more appointments? What would you say?
Mike Dardis36:24
That’s a common one. I’ll say, “That’s great, I’m glad you got some interviews set up, and clearly you don’t owe me anything, but you definitely owe it to yourself to have the best approach at getting it sold.” When they agree, I say, “Tell you what, it only takes me 15 minutes to look at the home — while I’m there I’ll share some ideas with you. If it makes sense, great, maybe I can help you. If not, at least I got a chance to see it to keep in mind for my buyers. Couldn’t hurt anything, could it?”
Ren Jones36:54
Wow, there’s a bonus — that’s kind of hard to say no to, that second little part. What do you say when they say, “Where were you when it was for sale? Why didn’t you show it then?”
Mike Dardis37:09
For that I usually say, “Ren, I honestly wish I could have. Did you know there are over 1,700 homes for sale in Cape Coral right now? I mean, I can’t see every one of them, it’s just impossible. But here’s the good news — I’m selling three to four of them a week, so it’ll be a good time for me to take a look at your home and see if it’s a candidate for the same kind of results.”
37:35 — Wrap-up and thanks
Ren Jones37:35
These have been some good questions, and several other thoughts on this call that are really helpful. I appreciate you being here, Mike. You’ve been on my list for a while, and this is a good time to do it, because people are thinking about moving down that way — it’s a little cold up here. I want to thank Aaron Wittenstein’s team for allowing us to broadcast to another 1,500, 1,600 people that watch the show on Lead Gen — if you want to get involved with them, their Facebook page is where they chat about everything, objection handling and lead generation, facebook.com/groups/gotobjections, and he runs his program called expiredmasteryelite.com. I want to thank everybody, and I want to thank you, Mike, for being here. Hopefully this will help a lot of people — maybe they’ll get involved with Mike Ferry, maybe they’ll just get some great ideas and take one extra listing a week or a month. And if you’ve done your calls like Mike, and you’ve spent three or four hours in the morning making those calls, you’ve done your job — get a big spoon and get some delicious Graeter’s mint chocolate chip. You can buy it anywhere in North America, just go to graeters.com. We’re glad to have everybody here. Mike, thank you again. Make some money, people. We’ll come back next week — I don’t know if you can beat Mike’s production, but we’re going to have somebody that takes two, three, four listings a week. See you next week.
Questions this episode answers
How many listings can one agent take working for sale by owners?
Mike Dardis, with nearly 30 years in Cape Coral, Florida, takes 15 to 20 listings a month himself and 25 to 30 as a team with his son Andrew. For sale by owners are his primary source, and he says he now runs his FSBO script four or five times a day because his market produces more FSBOs than expireds.
How do minimum standards improve a listing agent’s business?
Dardis says a coach had him require every appointment to be pre-qualified 100%, priced within 5% of market value, at a minimum commission and a six-month listing. That took his conversion to roughly 77 to 80% and let him go on seven appointments to take five instead of ten. An unexpected benefit: standards forced him to sharpen his scripts rather than cut his fee.
How should an agent manage a past client database?
Dardis purges his database four times a year down to about 1,200 of the most productive referral and past clients, since his second home market means many people move away. That focused list is his single biggest source of business at close to 40%, worked through calls, a quarterly mailing, and newly added video and email marketing.
How do you keep a prospect on the phone after they say no?
Dardis says knowing your scripts cold frees you to listen, match and mirror instead of thinking about what to say next. He does not take calls too seriously, treats each contact as worth about 60 to 70 dollars, and plays a game of asking one more question than he is comfortable with, plus using high-level agreement so the prospect can’t easily end the call.
What time of the month do expired listings appear?
Dardis has noticed expireds have concentrated at the first of the month, when he gets more than the rest of the month combined. He points out it is an especially good opportunity when the first falls on a Saturday or Sunday, because far fewer competing agents are calling those days.
Mike Dardis
Cape Coral / Fort Myers, FL
Ready to take more listings?
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