Scaling success: Tracing Mark Faris’ journey to over 1,000 offers a yr

While you sit down with Mark Faris, it doesn’t take lengthy to see why his workforce has accomplished over 1,700 transactions in a single yr. Even in 2023, when the market was down for a lot of, his workforce nonetheless did over 1,000 transactions.

Kiran Gandhi and I sat down, over Zoom, with Mark just lately to get a backstage go to how Mark operates. We didn’t need to simply break this down into what he’s doing now. We needed to return to the start, after which see how that strategy has modified over time.

Right here’s a glimpse into how Mark constructed his enterprise. His strategy was formed by necessity and ingenuity. Let’s dive into the journey.

To start with

Trying again to 2007, Mark introduced up the piece that the majority don’t discuss early of their profession: “There’s at all times a race whenever you begin in actual property, a race earlier than you run out of money. You might have a sure sum of money and also you’re going to burn by that. And so, for me, there was a race there as a result of we had been burning by our bank cards and we had a restrict.” 

Mark regarded on the cost-effective strategies for constructing his enterprise when he didn’t have some huge cash accessible.

“Chilly calling and door knocking, which loads of brokers don’t like, however I didn’t have any cash for anything. I’d deliver them slightly calendar. However I didn’t knock on each door. I’d solely knock on the doorways of the leads that I had from chilly calling. It was a extra focused strategy. (In) some instances I did full streets if it was in an space that I appreciated.”

Mark did 12 offers in his first six months and determined to set a objective of 40 offers for the following 12 months. He fell quick and did 38. Then, he jumped from 38 to 100 within the subsequent 12 months. Since then, he hasn’t regarded again.

The script

We requested Mark what he did when he was cold-calling and door-knocking. What was he saying to those that contributed to his success?

Mark stored it easy. He’d name or knock and say: “Hello, it’s Mark Faris from Royal LePage, we simply listed a house down the road from you. We’re actually enthusiastic about it, we’re curious and we’re working arduous for our sellers and need to get it offered. Have you learnt anybody trying to transfer to the neighbourhood? Any buddies or household? Wouldn’t it’s good to have the ability to decide your individual neighbour?” Then, he’d observe up with, “Oh, by the way in which, have you considered promoting?” 

The ice was damaged and he already began to show to potential shoppers how arduous he works for his present ones. That made him get in sufficient doorways to achieve the traction he wanted to win the brand new actual property agent race.

The itemizing presentation

When somebody is obsessed with one thing you’ll be able to inform. They lean in a bit, their face lights up and the keenness shines by. Get Mark Faris speaking about itemizing displays and also you’ll see the eagerness.

He likened how a lot he practiced itemizing displays to how he used to observe taking pictures lots of of pucks a day. “I can nonetheless decide the corners as a result of I did it a lot. The extra you do one thing, the extra enjoyable it will get.”

Mark had his itemizing presentation fine-tuned. He’d begin by telling the sellers he’d arrive inside a 30-minute window. That manner, if there was visitors or different points inflicting delays, he wasn’t panicked about a couple of minutes right here and there. He’d attempt to at all times arrive firstly of the window, however he had a buffer.

Then, he’d get himself enthusiastic and excited as a result of enthusiasm sells. He’d stroll in, pay a praise in regards to the house, take a tour of the house after which sit right down to ship his itemizing presentation. The main target is on being very clear about what differentiates him from different realtors and provides worth to the vendor.

Mark doesn’t consider in skipping the itemizing presentation, particularly for family and friends. It’ll assist save your relationship down the street. In case you skip the common process as a result of they’re a detailed private relationship, you set it in danger. You have to keep away from the “What are you doing for me?” query that’s answered throughout an excellent itemizing presentation.

When Mark was nonetheless promoting properties, he was personally promoting 150 a yr. It was beginning to maintain again his workforce’s development. At its dimension, he wanted to be targeted on the enterprise, not working in it. “That was a tough factor to surrender, the itemizing appointments, as a result of that was my child,” he remembers.

Fame is every part

“Fame is constructed by leaving sparks and seeds of hope, love and care.”

That is one thing Mark shared within the interview, when he expressed there’s nothing extra necessary to him and his workforce than their popularity inside the neighborhood. It’s every part. It encourages extra referrals as a result of folks put their reputations on the road by referring their contacts to you. They must be assured you’ll defend that.

Mark understands that not everybody could be excellent — nobody is predicted to be. Your popularity is simply as a lot constructed on what you do in these eventualities. Even when it means writing a examine generally to cowl a shopper’s loss whenever you weren’t legally required to. Don’t consider these conditions as dropping cash in a deal; take into consideration them as investing in your popularity.

While you repair errors, it exhibits folks that you simply’re stepping up. Investing in your popularity is at all times the suitable transfer; it’s extra necessary than cash. Admitting, “I used to be off on that, right here’s what I’m doing to make it proper,” will cement you as their agent perpetually.

Deal with scale

Now, Mark’s time is spent principally specializing in scale: tips on how to scale the enterprise up and make it higher. 

When he was promoting 150 properties a yr and his workforce was doing 1,000, he was doing 4 to 5 itemizing displays a day. He described it like he was a madman throughout that point. He was additionally asking himself how firms scale and why they hit ceilings. 

Mark is consistently studying books and on the lookout for recommendation on what he can do to enhance his enterprise. For instance, greater than as soon as through the interview that targeted on us writing tales about him, he stopped to ask us questions which may assist him enhance his enterprise. His care and keenness shine by.

Mark doesn’t consider there are any silver bullets on this business. As an alternative, he believes there are what he refers to as  “golden bee-bees” — the little stuff you do persistently over time. Simply maintain doing them higher, that’s what creates and grows a model. It’s the boring trivia of the day that the majority get bored by.

He’s additionally not afraid to nonetheless get his fingers soiled. When constructing out their ISA (inside gross sales) division, Mark’s workforce went by a number of iterations to determine what labored. He jumped in whereas performing because the CEO to take lead calls to assist refine the system. It was loads of trial and error.

An avid believer within the methods and processes from the e-book Traction, by Gino Wickman, Mark sees himself within the visionary position. One among the items that basically helped him scale was discovering his imaginative and prescient. Then, he targeted on the 20 per cent of processes that drive 80 per cent of outcomes. 

The tradition

Mark likes to ask his workforce members, “What’s the primary factor about working right here?” The responses are at all times attention-grabbing however usually obscure — from “the individuals are nice” to “there’s simply one thing completely different right here.” 

Mark views tradition as a dwelling, respiratory problem and is consistently asking himself about tips on how to formulate a greater workforce tradition. You retain a excessive threshold for folks coming in, and generally you must “liberate folks to {the marketplace}”, in accordance with Mark. 

One factor was clear in speaking to Mark: he is aware of what it takes to succeed and he focuses relentlessly on how to take action at a excessive stage. Regardless of his success although, Mark may solely be described as confidently humble. He is aware of he doesn’t know every part and is consistently attempting to be taught extra.

Spend time with Mark Faris and also you’ll see why he leads one of many high groups on this planet. 

Wish to go deeper into how Mark Faris runs his enterprise? We dove into the particular ways and techniques  he’s used over time. Far more than we may cowl on this article. Our new Backstage Move program provides you the unique alternative to dive even deeper into his enterprise.

We evaluate what he did firstly to what he does now to drive his enterprise ahead. Then, we audited his on-line presence and we’re ending up the month with a personal, stay Q&A with Mark Faris for these with a Backstage Move.

In case you’re studying this after January 2024, all of the content material talked about might be accessible on demand for members.

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Photograph supply: FarisTeam.ca