tom ferry business plan 2023

6 Tips from Tom Ferry’s 2023 Roadmap

• Agent Resources
• Grow Your Business
• Marketing Ideas
• Published on December 22nd, 2022
• 6-7 min read

Lisa Johnson Smith is a Producer for HomeLight’s podcast called The Walkthrough™. She is also a Realtor® at Keller Williams, where she specializes in luxury homes in New Jersey. She transitioned to this field in 2004, after a successful long-term career in television as an on-air personality and producer.

Johnson Smith has been recognized with numerous awards for her television experience hosting, producing, and reporting for various television stations, including ABC, CNN, BET, HBO, MSG and NBA TV, to name a few. One that she is most proud of is her role as the first Host and Producer for Teen Summit on BET, a national, award-winning talk show for teens.

Matt McGee is HomeLight's Agent Resource Center managing editor. He hosts HomeLight's weekly podcast, The Walkthrough, which delivers actionable, no-hype advice from the best real estate agents and top industry experts in the country. He previously served as Editor-In-Chief for three Third Door Media digital publications: Search Engine Land, Marketing Land, and MarTech Today. Matt's a Pepperdine University grad who's been surrounded by real estate his entire life: his wife and sister are active agents, as was his dad for almost 50 years.

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The real estate industry landscape has changed dramatically in the last few years, with lots of hills and valleys to navigate. In order to successfully traverse the potentially tough terrain of 2023 given the heavy decrease in buyer activity, certain things need to be included in your plan.

If you’re like most agents, you’ve already begun to strategize for the upcoming year. But maybe a roadmap would be helpful, especially one from the top coach in real estate.

Inflation is real, inventory is real, buyer demand is down, interest rates are up, and that creates a very noisy real estate environment that only professionals can navigate,” says world-renowned coach and bestselling author Tom Ferry .

Recently on The Walkthrough™ , Ferry shared a roadmap agents can follow to start strong in 2023 and sustain success all year long. Here are six of his best tips.

1. Zero in on your vision

It’s important to set goals, but trying to accomplish too many at a time won’t get you the results you desire.

What are the three most important measurable results you wanna produce in 2023? What are the three big things? If you have one or two or three max, you are more likely to achieve your outcomes instead of saying, ‘Here’s the 28 things that I wanna accomplish.’ So, the biggest part for you is to make very certain that you’re picking the right three,” says Ferry.

2. Change your approach

Although the market has been volatile, Ferry says that how you see the overall market shouldn’t change, but your response to it must be adjusted. This will determine whether you sink or swim.

What’s gonna change is the tactics, the messaging, the market knowledge, the market insight. So, it is truly the rich and the rest, and those that are doubling down on what’s working and effective, releasing the stuff that is no longer effective, adding one or two more pillars, are going to cremate the market in 2023. Regardless of how hard it’s gonna be, they’re still gonna win.

And a lot of other people that struggled during the pandemic are gonna struggle even more because they’re just unable to make the pivot, to make the adjustment, to acknowledge that the market’s the market, and it doesn’t matter what you say.”

3. Build your brand by being the go-to expert

In this slower climate, it’s more important now than ever to stand out from the crowd. Creating and maintaining a connection with your clients is paramount in order to stay in the forefront of their minds.

How are you expressing to your community that you are the expert? That you are the agent of choice? And that they can make a clear separation between Courtney over here, who I respect and admire, but I do more than Courtney, without saying, ‘I do more than Courtney.’ Because you can’t be that agent that just goes, ‘I’m number one,’ because everyone’s like, ‘How could you all be number one?’ says Ferry.

Is it my email marketing? Is it my video? Is it my direct mail? There’s no one way to do it. You gotta do everything. You can’t be myopic in a descending-transaction marketplace. You’ve gotta be doing five or six different marketing initiatives that put you at the center of attention.”

4. Prospect however you can

Figuring out a way to make money without spending any is a feat, but for certain strategies, all you need to invest is your time. For example, Ferry points out that “prospecting of any type” can pay off with little cost.

I go on Instagram, and I say, ‘Hey, I’m gonna be live today at three o’clock. You should join us,’ or, ‘Hey, I’m working on such and such. Who do you know?’ That’s prospecting in 2022 and 2023,” Ferry says.

He also adds that reaching out to have casual conversations with past clients about current real estate trends they can relate to is also a form of prospecting. He shared this sample conversation idea to have with past clients:

I read this article, and I don’t know if you saw it, but it actually stated that around the time that I sold you guys a house in June of 2020, 25% of the buyers that bought a home during that time essentially hated the experience, right? And, what was more interesting inside this article, and maybe you’ve experienced this, is that 80% of the people that bought a home during the pandemic admitted that they compromised in their home purchase. And I was thinking about you this morning, and I just wanted to ask, ‘How’s the home working out for you?’”

5. Identify your top priorities

Ferry refers to these as the “magical seven” – the top seven things that you consider mandatory in order to continue to improve and grow your business. Doing these things consistently creates a pattern of behavior that becomes second nature and will be crucial in accomplishing your goals.

If there were only seven things you could do every day – your seven daily disciplines, your seven non-negotiables – I wanna know, what are the seven things that move the needle in your business?

Now, it could be ‘I got a powerful morning routine because I understand that if I feel good, I perform good. So I gotta do things that make me feel good.’ So, that could be one. Number two, I would make the argument for, if you’re not in the MLS, studying the market, looking for correlations, and creating a daily update video, Instagram Reel, Facebook Live, TikTok, you know – wherever your tribe is – about the market that day, like, that would be number two,” says Ferry.

But one thing Ferry strongly recommends is having a thorough knowledge of the local market.

It’s more the discipline of, so when someone says, ‘How’s the market?’ Well … ‘Condo market? Low-end market? This side of the valley, that side of the valley? Which market are you talking about? Are you a buyer? Are you a seller? Are you an investor? Are you a renter? Help me understand.’ Because you know all of it – because you’re paying attention on a micro level to what’s happening in your market.”

6. Change your mindset

While we don’t really know what the future holds for 2023, there are things that you can work on personally that will have a direct effect on your business. One of them is being more intentional about who you allow in your space.

You cannot afford to spend time with energy-sucking vampires. So if you’re spending time with the old metaphorical two crabs in a bucket, someone who’s always pulling you down – or worse, you’re trying to constantly lift them up, and they’re fighting for their lack of success – people gotta get involved in their own rescue. Because you can’t surround yourself with toxicity right now. There’s already too much in the environment. There’s already too much in the world. So you gotta get that team around you of people that are, like, cheerleaders and ready to go,” says Ferry.

As we get closer to the new year, one thing Tom says we have to do is recognize that where the market is right now is temporary.

I’m gonna focus on my 10-year vision of my business, my three most important goals in 2023, and I’m gonna remember that what we’re going through now is a micro blip in time.”

By putting in the time now to get your mindset right and hone those fundamental skills, you’ll be more prepared to navigate whatever lies ahead in 2023.

Listen to this episode of The Walkthrough™ below:

Header Image Source: (Matt Duncan / Unsplash)

At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict  editorial integrity in each of our posts.

Lisa Johnson Smith

Producer, The Walkthrough™

Editor, Agent Resource Center

Creating the Real Estate Opportunities You Need in 2023 | Tom Ferry Podcast Experience

In this episode of the podcast, let’s talk about everything that’s going to work to bring you more real estate opportunities in 2023. Patrick Ferry, a knockout coach and dearest brother of mine, says that 2023 is going to be a year where you’ll have to DOUBLE the number of opportunities that come your way just to make the same about of money.

And we don’t want to just make the same amount of money next year, right? That’s why Patrick and I are breaking down all the special marketing, conversion, and lead nurturing strategies that we’ve seen working so that you can far exceed your income from last year. We’re going in-depth with scripts, ways to track and measure your progress, and where you need to be looking for serious real estate opportunities.

If you are a real estate agent who likes to make money and grow your business, this is an episode you need to take notes on.

Hosts & Guests

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• Show The Tom Ferry Podcast Experience
• Frequency Updated Weekly
• Published January 4, 2023 at 11:02 AM UTC
• Length 58 min
• Rating Clean

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3 Essentials for Your Best Real Estate Marketing Plan

It’s time to make your real estate marketing plan.

As we step forward, it’s time to start doing double duty. Not only do we need to refocus on our goals, but it’s essential to prepare for the future. Now is the time to start reviewing, revising, and putting together your business plan, and that’s why today, we’re going to talk about your real estate marketing plan.

We’ve helped scale the businesses of tens of thousands of real estate agents.

When you start with a free real estate coaching consultation, chances are we can help scale yours as well. Schedule yours today!

I’m going to give you three essential things that need to be a part of your real estate marketing campaign and the cadence you need to be doing them with. If you’re looking to know what you should be sending out every day, every week, and every month, this is the blog for you.

Now’s the time to set yourself up for success, so let’s jump right in with what you need to be putting out there every day.

What is a Real Estate Marketing Plan?

A real estate marketing plan is a comprehensive strategy that outlines how a real estate agent or agency intends to promote and sell properties. It includes a range of tactics and activities designed to attract potential buyers or renters, showcase properties effectively, and ultimately close deals. A typical real estate marketing plan may include elements such as target market analysis, branding and positioning strategies, online and offline advertising campaigns, social media marketing, open houses, networking events, and follow-up strategies to nurture leads. The goal of a real estate marketing plan is to maximize visibility, generate interest, and drive successful transactions within the real estate market.

What to Include in Your Real Estate Marketing Plans

Daily content: social media video.

You need to be releasing videos every day, but you should not be SHOOTING videos every day. That would be exhausting. All you need to do is set aside one day to create content for the following 30.

So, open up your calendar. Do you have it in front of you? Great. Now:

• Pick a day towards the end of each month to write 30 days’ worth of short content. This day is all about coming up with 30 different topics and then writing short, 10 to 30-second scripts for each one. You can also take the time to set up your filming space. It doesn’t need to be fancy, but make sure you have a few different changes of outfit, so it doesn’t look like you wear the same thing every day! If you want to know a little more about what equipment you’ll need check out this past blog.
• Now either at the very beginning or end of the month, block off a solid five or six hours to shoot all 30 of these shorts. Don’t worry, because it’ll get quicker and easier the more comfortable you get with it.
• Then create a plan for how you’re going to edit, create thumbnails, and publish the footage. A lot of agents delegate this part of the process to their assistants or marketing coordinator.

Now, it’s probably fair to say that not every video you produce will be a masterpiece, but sometimes you put one out there that you’re really proud of – or that gains traction and gets higher-than-normal viewership. When you do this, you’d be really missing out if you didn’t put a little bit of money behind it to boost it to the largest audience possible.

Weekly Content: Email

The great marketing guru Jason Pantana says that email is the most effective ROI marketing channel, BAR-NONE. And since it’s free, all you’re investing is a little bit of time.

But you can’t just put out some junky canned content and expect anything good to come from it. Just like your website, your emails need to look clean, professional, and provide real value.

One of the best days to do a weekly email is with a “roundup” where you essentially repurpose all your quality videos from that week. Keep it short with a couple of outbound links and well-written descriptions. Toss in any listings you might have, and make sure to have a “call to action” that takes them back to your website.

The best time for these types of emails is usually later in the weekend because of how much time people are spending at home. When people are at home, it tends to get them thinking about homes!

Monthly Content: Print

Now we’re stepping into the realm of paid marketing with real estate direct mail, but it’s a crucial piece that helps tie everything back together – and it’s only once a month.

Check your budget to find out how much money you can spend on marketing at the beginning of each month and adjust your target radius accordingly.

Your mailers don’t need to be complicated, and it’s actually better if they’re not. You have two excellent options here:

• A QR code to a home price evaluator
• A case study following all the steps of how you sold a property

QR Code Home Price Evaluator

Everyone wants to know the price of their home, and if you get them thinking about it, you can get them thinking about listing. In a market like today’s, this simple tool can open up a lot of possibilities with sellers. I’ve had personal clients see major success from the simplest cards with a Homebot QR code. All this card needs to say is, “Check the value of your home,” and when they scan it, they’ll be directed straight to a home-price evaluation with your branding on it.

A Case Study

Case studies are the new “Just Solds.” If you were at this past Success Summit, you’ll remember Newport Beach Rockstar agent Robert Mack’s TomX talk about his case study mailers. Robert’s team specializes in interior design and home staging. But a lot of sellers can’t see the point in paying someone extra to just replace their furniture for a showing.

This is where Robert’s case studies come in handy. Using just one “before” and one “after” picture and a “sold for” number, his mailers have shown a tremendous ROI.

So… what’s your real estate marketing plan?

At the end of the day, the “best” marketing plan is always the one that works for you. And it takes trial and error to figure this out. I’ve given you this to show you what is proven to work for other agents, but there’s so much more that goes into a fully comprehensive marketing plan. 

Until then, keep digging into these three essential marketing channels: Social Media, Email, and Print on the Tom Ferry Blog!

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At Tom Ferry, our team has decades of experience helping realtors grow their businesses. Discover invaluable insights, customized strategies, and expert guidance to supercharge your lead generation, marketing, and more!

About the author

As founder and CEO of Ferry International, the real estate industry’s leading coaching and training company, Tom’s ever-growing influence impacts professionals in a wide variety of ways – including rigorous accountability coaching, his popular YouTube channel delivering free, fresh and relevant real estate tips weekly, highly engaging training events, two best-selling books, and his legendary keynote speeches. Tom has more than 35,000 hours of coaching experience and works daily to help agents and brokers grow a prosperous business while simultaneously balancing — and loving — their personal lives.

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Get A Head Start With A 2024 Business Plan

Get a head start with a 2024 Business Plan

Hello there, Tony Smith here with another edition of Mike Ferry TV . This is the week of September 25th, and I was excited. I’m just finishing up day three of our new Action Workshop that we’ve been presenting here in Los Angeles, California. Mike asked me to spend a little time on this Mike Ferry TV video today. So obviously when you come out of a group of great agents your eyes are all wide open, they’re ready to learn, they’re ready to grow, they’re ready to take their business to the next level. We are certainly inspired to hope that you do that as well. So I want to start with a question. How often have you heard Mike Ferry say that selling Real Estate is simple? It’s just not easy. Okay. I don’t know if the technology is helping. I don’t know if it’s hurting at times, but doesn’t it seem like things get more and more and more complicated as time goes on at the same time, Mike Ferry and The Mike Ferry Organization are constantly trying to get you to simplify things and make it a little more clearer, a bit less complicated, so you can move forward.

“It is a very simple business. It’s just not easy.”

It is a very simple business. It’s just not easy. Think about it. We have to go find sellers each day that want to buy and sell. We have to follow up on those seller leads that we get. We have to prequalify those leads in depth. We have to learn how to present daily. We have to handle their objections. We have to close for the signature and somehow we have to learn how to start the whole process over day in and day out, don’t we? Pretty simple. Where are you making it? Complicated.

Well, here we are today and we’ve got the last week of September coming into the fourth quarter of 2023. There’s a lot of stuff that we need to get accomplished between now and the end of the year. So what I wrote down is a little series of thoughts that I would like to not even thoughts. There’s a little series of assignments that I would ask you to do this week to get yourself set up for the fourth quarter.

Now, I don’t know. You can only answer this for yourself. How important is your production in the fourth quarter of 2023? Would you like to have an incredible holiday season? Would you like to kick off 2024 with a bang or would you like to just stay where you are? Okay, so here are some thoughts that I put down for us. Okay.

1) Create your Q4 Schedule

Decide exactly what days you will work between now and the end of the year. There seems to be a lot of confusion. Agents can’t decide. Am I working? Am I not? Am I on vacation? Am I not? Which days am I taking off or holidays? Thanksgiving, Halloween, Christmas, all that stuff. And if you can certainly get clear for yourself, the days you’re working and the days you’re not. Mike has said for years in almost every industry besides Real Estate, everybody has to work through a day, clear through a couple of of days for Thanksgiving off, and then clear through the 23rd, and 24th of December for the holidays. What are your work days? I would ask you to decide, get clear, tell the people around you, and make sure that they’re absolutely clear on the days you plan on working. That’s one.

2) Set aggressive and specific goals for Q4

Two, set aggressive, specific production goals for the rest of the year. How many listings will you commit to taking? How many buyer sales will you commit to making? How many listings sold will you do? How many closed escrows will you have and how much income will you generate for yourself between now and the end of the year? Pretty simple. Make them very specific and very clear.

3) Create your prospecting plan. 

The third thing I wrote on the list outline for yourself is a very strong prospecting plan. From now to the end of the year, how many contacts will I make each day? We already decided how many days I’m going to work, How many contacts do I plan on making each day? How many hours will I dedicate to prospecting each day for the rest of the year? Am I going to work any evenings each week? How about a couple of Saturdays a month for the next 90 days? Outline for yourself a very specific prospecting plan. Do you need to include, you know, the sources that you plan on calling? You know, are you going to add Expireds and FSBOs ? Are you going to add a source? I would write out in detail what kind of prospecting I was going to do, and I would tell everyone around me what it was.

4) 90-Day Past Client and Center of Influence contact plan

Number four on the list, design for yourself, a 90-day past client and center of influence little mini plan. So what if you’re just to take, you know, okay, what am I going to get done over the next 90 days? How many people do I need to add to my database? Will I contact everybody? Are there any people in my database that I need to see personally? You know, do I have my postcard set ready to go out for the fourth quarter? What special things am I going to do? Christmas cards? I don’t know. But could you outline for yourself very specifically what you’re going to do with your past client and center of influence over the next 90 days? I think that would be smart.

5) Scrup all of your current Real Estate Leads

Number five, go through every lead you have now. If I were there with you today, I would ask you to go through every single lead you have and ask them the simple two questions. Do you still have to get that home of yours sold? Or if they’re a buyer, do you still have to buy a home? And then when can we meet this week to get it started? Does it make sense to get through and clean up and clear out and address all the leads you’ve accumulated? We think so. Okay. We also know that when it comes to leads, there is a little likelihood that you might build up a few leads throughout the rest of this year that want to do something a little later. That’s a little normal. It’s okay if that happens, but we certainly don’t want to drag a bunch of what I would call old or dead leads into the fourth quarter. Let’s clean them all up and get started.

6) Read the “ 11 Reasons to List During the Holidays ” Report

I wrote down this. I don’t know if you’ve seen the report if you have some of you’ve been around a long time. It’s time to go to MikeFerry.com go to our resources page, go to our reports page, and download Mike Ferry Report the “ 11 Reasons to List During the Holidays. ” Okay. It seems like it comes sooner and sooner every single year that people start holidays, right? It starts now. Is it Labor Day that the holidays start? I hope not. But the reality is people are going to start objecting and want to wait till the next year. I would read those “ 11 Reasons to List During the Holidays “, every single day from now through the end of the year and start learning how to deliver those to the clients, the prospects, and the customers that you encounter who are trying to put you off for after the holidays. There are a lot of reasons why they should be listed now. Okay, so download the report and start reading it. Okay.

7) Start Filling in your business plan

Number seven I wrote down. Okay, set up for creating your 2024 business plan . Okay. Now we know that October is the month that in The Mike Ferry Organization, we ask you to start putting together your business plan. Mike Ferry if he had his way, he would like everybody to have their plan in the hands of their Coach, in the hands of their spouse, their broker, their manager, and have that plan fully completed by mid-October, end of October at the very latest. But do you need to set yourself up for that? Do you need to make a couple of appointments in your calendar over the next couple, or three weeks to sit down and pencil out your business plan, put it in writing, and get it set? There are several steps you have to take. You have to put that in your calendar so you can get your plan set and get done. Does it seem like it makes sense now to work on a really strong 15-month plan? Right. If you buckle down for the last three months of 2023 and have a really strong plan for 2024, is that the way to finish strong and start fast? Of course. So we have to set ourselves up for our business plan. I would make those appointments in my schedule right away.

8) Create a 90-day accountability plan

Number eight, decide how you will be held accountable for the next 90 days. I would ask you over the next 24 to 48 hours to sit down and get clear on how you would like to be held accountable. What do you need to be held accountable for? Is it to show up at work on time? Is it to role-play in practice? Is it to your prospecting? And I would set up some strong, strong, strong accountabilities for the next 90 days. You know, there’s a lot of distractions that come around this time of year. Everybody’s pulling at you in different directions. If you can box yourself in with some real strong accountability for yourself, then those distractions won’t pull you off track. Set up your accountability. I know you can do that real soon.

10) Create some exciting goals for yourself

And then number ten, create some exciting goals for yourself for the holiday season. We know that if you can set up some strong, exciting, fun goals to reward yourself, reward your staff, reward your family, reward the people around you for the hard work that you’re going to do over the next 90 days. If you can see that ahead of you and you’re excited about it, then you’ll work harder leading up to the holiday season when it does turn holidays. So set some goals, and make it spectacular.

One thing we know is the market is moving in a direction that ultimately ends up supporting Mike Ferry-trained agents . You should have seen the agents in the class today all rubbing their hands together when they started to see the market is shifting in our direction. Do clients need more professionalism? Yes. Do they need an agent now that knows what they’re doing? Yes. Do they need an agent that knows how to price the property right from the start? Yes. Are they looking for solutions? Of course. And we believe that it’s not that hard for you to become the right agent for the job if you’re not already.

Are you set up to take full advantage of this? I hope so. The fourth quarter is right around the corner, so I’ve given you a list of what, eight, nine, and ten little steps that I would like to ask that you take this week. So when the fourth quarter comes and starts next week, you’re completely set and ready to go. Okay. As always, thanks for allowing me to spend a little time with you on Mike Ferry TV. We look forward to seeing you in future episodes. Thanks for your time.

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