Mastering Sales Foundations With Tom Hopkins (2 of 2)

Welcome back to the Magnetic Marketing Podcast. This is part 2 of Mastering Sales Foundations with Tom Hopkins. Now, if you missed part 1, Tom is going to be giving you a brief rundown of everything that was talked about in the last episode. However, the last episode was almost 1 hour long. Any brief summary is not going to cut it. I highly recommend make sure you've listened to part 1 before you jump into part 2 or get a quick refresher before jumping back in. And let's get started.

I don't think there's anybody that has had a bigger impact in the field of direct response than Dan Kennedy. The legend of Dan Kennedy should be ignored at your own peril. They're not really lessons, they're kind of laws that you live by. Dan opened my eyes to what small business marketing looks like.

Dan teaches strategic direct response that is timeless.

His ripple effect touches people who don't even know his name.

The world as we know it was changed because Dan Kennedy Kennedy became obsessed with marketing.

Welcome to the Magnetic Marketing Podcast with your host, Dan Kennedy. Just a couple little, uh, words of advice now. I try when we— when I teach to try to tie the teaching in with what's happening at the seminar. That's why in a way I kind of demonstrate a presentation of our product and The reduction to the ridiculous and the things that we're wanting you folks to apply to your business. And whenever you're interrupted during a presentation, meaning we've just taken a break, and you want to make sure you teach your folks that whenever the presentation has a break, it could be as short as a telephone call that a person has to take, it could be as long as a lunch break, But when you come back into the presentation, you can't really continue where you left off because they aren't emotionally at the same position they were at when you had the break. So the concept I want to share with you is whenever you're interrupted during a presentation, don't continue until you do a little brief recap. And so why do we do that? We said we're going to try to focus on questioning as to what are their N-E-A-D-S. What do they have? Now. What do they enjoy? What would they like to? Who is the real? Then we come up with the S, solution. Alright, so that's kind of a brief recap on the last thing that we talked about. Now if you'll open up your books, we gave you the first question which is the tie-down. And on page number 6, this second question you can have such fun with. Here again, you can use it in business, you can use it with your family, and it is called the alternative choice, which as you notice on the top of page 6, the definition is a question with two answers Either answer they give you is the minor agreement leading towards the major decision. And I gave you the best uses of it. I think the best use of the alternate of choice is when you want to meet someone. See, if you say to someone, "When can we get together?" a lot of them are so busy and so stressed and have so much going on they can't tell you. They'll stall you. I'm not sure, get back to me next week. Then they'll stall you next week until either you'll give up or they'll just finally say we're not interested. So I'd love you to try when you want to meet someone to give them two times. I'm available to visit with you today at 3, or would tomorrow at 9 be better? Now they can't say yes or no, let them have a time. Shall we set up the monthly investments for the first Or would the 15th of the month better suit your situation? So the alternative choice is giving them two choices. Now, I really want you that are in real estate or know anybody in real estate to be really pay attention to this one, because I never asked how much of a deposit they wanted to give, because after I did that, they never gave enough to have a nice strong transaction. So instead of saying, how much would you like to give as a deposit, I start saying, What would best suit you, a 5% or a 10% deposit? And now of course they would pick 5%, but if it's a $400,000 home, you now have a pretty nice darn deposit to have some control of that transaction. So you'll get more by giving them the alternative choice. And have fun with these. Just as a little side note, I have 3 children, they're grown now, and I have 7 grandchildren, but my 3 kids when they lived with Dad. I was out doing seminars for many, many years, and I didn't see them a lot. And so in the summer, I'd take my babies, my kids, with me, and they'd sit in the seminar because I'd have a little fun seeing if they could learn the questions and learn it all. And in our family, I mean, our little joke was you had to close to exist in the Hopkins household. But anyway, I'll never forget, my little daughter Tasha was, I think, 10 years of age, and I took her to the market. And most, you know, most kids you take to the market and they'll go, Dad, can we have an ice cream? Not Tasha. She'd go, Dad, which would you prefer I have today, a fudgsicle or a popsicle? And either way, she closed the transaction By giving me the alternative choice, alright? So have fun with that one. Now, look at C, the porcupine. I get letters and they go, Tom, why do you call this questioning technique a porcupine? And I'll tell you the reason. When I was first taught it, it was taught to me as a basic concept of answer a question with a question. That was it. No name for it. Answer the question with a question. They ask, "Can I get it by Monday?" Don't say yes. Say, "Would you like it by Monday?" They say, "Do you have one in blue?" "Would you like one in blue?" I mean, that's the basic concept, but I keep forgetting to use it. And so one day I said, "You know what? I should have closed that sale and I didn't because they asked me the right question and I didn't answer the question." So I thought, from now on, I'm going to create a visual. Where if they ask me the right questions, I'm gonna visualize they threw this porcupine in my lap. Now picture a porcupine. I live in the desert part of the year, and they're ugly, they're dirty, you wouldn't want to cuddle one, trust me. So if I threw the porcupine in your lap, you'd throw it back. Well, that's what I did with the right question. And It's a way again of when they ask the certain type of questions, like for example, they might say to you, "How soon can you get us the product?" Well, it's tempting to give them a time because we're used to saying, "Well, we have 10-day delivery." Don't do that even if that's the case. Answer it with a question. You know, "What time schedule for delivery would best suit your needs?" "Well, we'd love to have it in a week." Say, "Well, listen, I know you want it and I'm going to make you real happy. Would you give me a 3 days longer because our normal is 10 days? Well, sure, and I closed because they answered with a question. I used to love it. I'd be showing a home and we'd go out in the backyard and the wife would go, Tom, will they leave the swing set? Well, I pretend she threw the porcupine in my lap and I'd smile and say, Mary, do you think the kids would enjoy it? Well, in my 8-year career, I bet I marketed 50 swing sets. Now they couldn't take it out of the yard though. What did they have to keep with the swing set? The house, of course. But it was all triggered because of this porcupine question. So have fun with that one. That's one of my favorites, okay? Alright, I tried to really summarize this now for you. Number 2, If you find that your company is getting hit with an objection over and over again, let's say you've talked to the last 3 people about your business and they've said the same thing as an objection. This is called a known objection, and that's why number 2, brag about known objections. Let me put that up there for you. Brag about Known objections. There it is. Thank you. Brag about known objections. Mr. and Mrs. Johnson, I will let you know that many of the happiest clients we have are so thrilled with what we do that we're really overbooked right now, so I'm going to have to ask you to be patient. We really can't get it to you right away. Well, see, we have a backup in delivery So we make it an advantage that everybody wants the product and now they won't be upset they can't get it because everybody else wants it. Brag about a known objection. Brag about a known objection. I'll never forget, I tell my real estate stories, ladies and gentlemen, because all this in 8 years I applied and some of them will maybe turn a little light bulb on for you but I can remember I'd oftentimes have young folks come into my office and they didn't have a lot of money. I didn't, of course, when I started either. And I'd qualify them and they had very little money and I would have a home that really was a fixer-upper. I mean, worse than that. It was a distressed property. But it's all they could afford and it was a good buy. So I would brag about it. I'd say, you know, John and Mary, I can see you have limited funds, but I also see you want to take advantage of the pride of ownership of owning a home, and I want to help you out. And I know of a property that someone's going to make a lot of money on if they're willing to put a little tender loving care and some elbow grease into the house. Now, if they do that, they're going to have a tremendous appreciation, and it's a great area. Although I'm almost embarrassed to show it to you because it's awful. Now all the way to the house I brag about what? And how awful it is. Now you guys don't be mad at me. When you walk in and see how thrashed this place is, don't you get upset. Now what was amazing about bragging about how awful it was, their imagination goes to work and it was never as bad as they thought it would be. Y'all with me on that? So teach your folks, brag about a known objection. And then of course, number 3, use glamour words. Now we, we kinda said let's eliminate 10 words and we gave you the 10 wrong words. Here's some words I'd like you to make sure your people add into their presentations. They're called glamour words, and if you'll notice, unique is a great word, dynamic is a great word, unparalleled is a great word, exciting. See, you sound a little different than all the competition they talk to, so you might want to take those 4 and have those built into your company, alright? Now you need to keep clients involved, number 4, both mentally. Now how do you involve them mentally? That's the art of questioning. Because by questioning, they mentally have to stay with you. Physically, you can keep people involved in a presentation by either handing them something, having a brochure for them to read, and of course there's 3 benefits people have to see in anything they spend money on. And so if you'll number 5— 4 of course, keep them involved— number 5, Here's the 3 things that you must convince them of. Number A, letter A, who we are, that you need to have a good story of your company, what we've done, past track record of success, and what we will do for you. Who we are, what we've done, and what we will do for you. And then of course, number 3, and this is another mistake that when I was brand new I made. I didn't cover every nickel of the money, and because of it they had uncertainty. They didn't tell me, and that's what triggered I want to think it over. So you really need to make sure you must thoroughly cover the money. Thoroughly cover the money. And then your folks need to, if you're going to teach the people you work with in the sales field, they have to learn how to test people. Now if right now I said to you, in this morning's newspaper there was a headline that said no one can spend money on anything unless their temperature physically is 102 degrees. Medical breakthrough. Well, that— I'm making it up, but if that was true, we'd all have to go tomorrow to the pharmacy and pick up a new tool in our business. What is it? A thermometer, because you'd have to test people. You'd present, present, present, present, and then— nope, you're 98, you're not ready yet. And that's what a test question does. It's not blatant. See, blatant is, so what do you say, should we write this baby up? That's blatant. I just love that next question. John, how are you feeling about all this so far? You notice it doesn't demand a decision. It just kind of tests someone how they're feeling right now. Tom, I think it sounds pretty good. I think it's something we should do. And not only that, the test question will trigger if they've made a pact. Now, how many of you primarily would do business with husbands and wives in your business? Would you raise your hands if that's you? A lot of you. Many of the husbands and wives in any selling situation make a pact before they come and see you. And it might go like this: husband says, Mary, you keep your mouth shut. We own too much. You say yes to everything. We're not buying anything. She says, well, you too. You don't say anything. So now here they've both made a pact. If you sense it, you have to help them release each other. John, Mary, some of my happiest clients didn't know what was going to happen when they met me, and some of them were a little nervous and maybe a little afraid. In fact, even some of them went so far as to actually make a no-purchase pact, which is okay. You seem kind of excited, Mary, and I was wondering, Mary, if that's true with you, would you be willing to release John from the pact? John, will you release Mary? And you'd be amazed how they will kind of chuckle. Because you caught them knowing they did. Honey, we should do this. We weren't going to do it, Tom, but I think we should do it. And boom, they release each other and you close the transaction. All right? All right, let's go to page 7. Okay? Page 7. There's 6 steps to handling the final area of concern and this is the final thing they're saying no to and there's 6 steps you have to use to handle that. The first step is you've got to develop a discipline with people. And step number 1 is you must hear them out. And that's why on that little chain I put the ear as a visual. Listen to them carefully when they start to say no to you. Hear them out. Notice what I've written next to hear them out. Develop the discipline of waiting until you're sure you're hearing the real areas of concern and just don't interrupt people. And a lot of people in our business interrupt folks when they think they hear two words of an area of concern and they think they know what it is and they jump in and handle it and guess what? It's the wrong one. And now you've given them one they hadn't thought of. They don't need help there. They got them down, believe me, alright? Step number 2, after you've heard them out, we then do a thing called feed it back. We feed it back. We question the importance. That's what the question mark in that visual is. Question the importance to it. Okay. Then step number 4, we then answer it. And if you'll notice under number 4, you have to choose now which one of your techniques you're going to use based on what they say. And I'm going to give you some great closes in just a few minutes. So let's say hypothetically they say it's more than they can spend. Well, there's an "it costs too much" thing I'm going to say to them to find out exactly how much. So that's choosing what you're going to say. Okay. And then of course step number 6, we change gears— or step 5, we confirm the answer By learning this one little sentence, "Now that settles that, doesn't it?" And now you've confirmed the fact that you've answered it. "Now that settles that, doesn't it?" And then of course, after you confirm the answer with "Now that settles that, doesn't it?" you then change gears with them, which is number 6, and then you take them elsewhere with 3 words, "By the way." By the way. Now on page number 8, I've given you now an example of that, okay? Now let's look at the words. The client says it costs too much. We hear them out and then feed it back. Today most things do. Can you tell me about how much too much you feel it is? Well, I'd say, Tom, it's around $1,000. Now you question the importance. So your real hesitation is just that $1,000, is that right? Well, I guess so. Now you answer it. You know, John, I can certainly appreciate your feelings. However, I think we ought to keep that $1,000 in the proper perspective. Over the years, most of my happiest clients received true benefit from our product for at least 5 years. Now based on this truth, that really makes it, that $1,000 only $200 a year, doesn't it? Well, yes it does. And if you're like most people, you'll receive the benefits of this product for 52 weeks per year, and that's about $3.85 a week. And then of course, now you must say, this may sound ridiculous, but that boils down to 55 cents a day. Do you think you should avoid enjoying all the benefits we've discussed for 55 cents per day? Now, you know it worked when they say, "Well, you know, when you put it that way, it does sound a little silly," and then bingo, you got it, you see. So I guess that settles that, doesn't it? And by the way, I'm looking forward to serving your company for many years. So don't worry, we're going to bend over backwards to make you happy. All right. Now page number 9, this is everyone's favorite step of all of my training, which is called closing the sale. And let me say it to you this way. I first of all never dreamed I'd go into sales because my dad was very much against the profession of selling. He had always worked for a company. He had a 9-to-5 job. And so I never dreamed this is what I would do. And I had an image of salespeople having to be somewhat pushy or overbearing, which I would never want to be. So the subject was foreign to me, and as I said, I did terrible when I started. Thank God I spent that $150 on the training because Mr. Edwards totally changed not only my understanding of selling but changed my life with what he taught me. The essence of my training came from him with his permission because when he passed away he turned the gavel of training the art of closing over to me. But I've always was turned off by the term closing the sale because it almost had a feeling like now you gotta change from being a nice person and you gotta get real strong with people. And I don't believe you need to be that. In fact, I think probably the greatest feeling you can have for people is when you are doing the sales process, they feel you have empathy for them. Empathy is probably one of the most important words in our language, and I hope— one of the men grabbed me, I don't know where you're sitting, worth $15 million today, And he grabbed me and told me his story. And I will guarantee you that it's tempting when you become wealthy to forget what it was like when you were broke. And you don't want to ever do that. I tell my story of failing when I began because I want people to realize, man, I wasn't one of these hotshot successful people when I started. But I worked very hard. I took 3 days off my first 3 years. Most people don't know that. But I have a total commitment. You gotta commit hard work to build a business. Until it's up and running, you gotta make a commitment, and that's what some people don't want to do today. But I, again, as I said, the term closing, when I heard it, I thought, I can't do that because I have empathy. Well, give me some definitions of empathy. Understanding, good word. What's another thing comes to your mind when I say empathy? Caring. Good. Another word? Relating to them? Compassion. Sincerity. Here's what I want you to teach your folks empathy is, in my humble opinion. They must truly feel you feel like they feel. And that's really, I think, when they go, you know what you like was, you like me. You truly feel the way we feel. And when people feel that way, that's when they want to say, I want to do business with this person. Not once, but hey, a long-term relationship. And if you were to stop me in the elevator and you were to say, Hopkins, I have read all your stuff and this and that, what do you think if you boil it all down is the real secret to being great with people and communication? I would say having the ability to have them like you, trust you, and want to listen to you. Because I believe if people like you, then they trust you, they will look at you as an expert advisor and want to listen and not have to listen. And I've always tried to make that the foundation. I could not have closed— and I gotta level with you— Physically, to close a real estate transaction with all the entities involved is a lot of work. I could have never done 365 my last year. And I do want to clarify something. When, when Dan said it, it's true. I didn't make a sale every single day. I set a goal to have one a day average, and I'd have a weekend where I would do 3 or 4, maybe 5, and then I may not do 1 or 2 or 3 in a weekday. But at average, that was my goal, focused. And you got to have long-term goals. I hope you have long-term goals. People ask me today, "Tom, what's your long-term goal?" Well, I'll share it with you. No human being in the history of my profession has ever done 5,000 one-day seminars. And Zig Ziglar, who's 80 and started at 57 where I started at 27, I don't think he'll make it. So my goal, and I hope you don't mind being 4,578, which is what you are tonight. 4,578. And I'll call my wife, I say, yeah, 4,578, honey. We only got 11 years left till 5,000. I hope you love what you do. People say, well, why don't you retire? Retirement is a fancy name for an early death. And I hope you never work to retire. Work to not do anything you don't want to do and just love doing what you do. You see, I won't be asleep till 2 to 3 in the morning because of my adrenaline that's pumping and because of the emotions I'm having with you. And I think that's what you have to have. I played golf with Wayne Gretzky a few months ago, and he lives out there where I live, and I said, "Wayne, you're the best hockey player in the world." And he is, was. He autographs his name Wayne Gretzky, number 99, the Great One, and he didn't give himself the title of the Great One. And I asked him, I said, Wayne, I teach people the field of sales and marketing. What do you think the reason was you were so darn good at hockey? And listen to what he said to me. He said, Tom, I had a passion for all aspects of the sport. I had a passion for the practice, a passion for the pain, a passion for the winning, a passion for the losing. And I really believe to be successful, you got to be passionate about what you do. And I think people have to see your passion. And that's why I think my definition of closing, all of you can teach and use. And I want you to teach this to your folks. Professionally using their desire to own, not the product, the benefit of what your product does. Then you blend your sincere desire to serve, see, think of serving, not selling, in helping a person make a decision that, as you see, is truly good for them. And I believe if you make people make a decision that's not good for them, you're not doing it for the right reason, and that's not right. You gotta believe in your heart it's good. See, number 1, potential clients need help to rationalize the decision to go ahead. And B, without the ability to call for a decision, here's what's so sad, everyone loses because you're not helping people make the right decisions. Don't forget this, the average person today is overwhelmed by fear. Fear is the big 4-letter word that keeps them from going ahead even though they want to. Number 2, the emotion of insecurity leads to procrastination. Number 3, as I mentioned, always close the sale while radiating empathy, empathy for your people. Now number 4, you fill out your paperwork rapidly, chitchat, always chitchat when you're filling out anything. If they stop you, simply say, "You know, I know you're not completely sure of the decision to go ahead." However, let's just draft up our feelings on the paperwork and see if it makes sense. Then you continue. Now after you complete your paperwork, pick it up, scan it, kind of like this, scan it, smile, then you've got to deliver your final closing sentence. Now I've written one for you as an example here. Bill, with your approval right here, I look forward to providing you with the very finest product and service possible. And now you turn your form around and put your pen right on the paper. Now you'll have some people that'll right away grab it and just say, wonderful, we're so excited. But you will have a lot of them that will be, just stop right now. They'll do This is very important, gang. Look what I've written here. The most critically important instruction is when you ask the final closing question, you must shut up. You can't talk. If you talk, you own it. You don't want it, let them have it. The "I want to think it over" close is worth its weight in gold if you'll get your people to learn it. Now notice, when they say they want to think it over, you always agree with them with two words and use their name. If you see these words, that's fine, John, obviously you wouldn't take your time thinking this thing over unless you were seriously interested, would you? So may I assume that you will give it very careful consideration. Oh yeah, we will. This is very interesting to us. You bet we will. Then after that, you simply will say, as you see in the script, just to clarify my thinking, what phase of this opportunity is it that you want to think over? Now you notice in the parentheses I put don't pause. When you say, "Just to clarify my thinking, what phase of the opportunity is it that you want to think over?" Do not pause. They'll say everything. I want you to slur through that. "Just to clarify my thinking, what phase of the opportunity is it that you want to think over? Is it the quality of the service that I'll render?" "No, Tom, very impressed with the service." Is it something I've forgotten to cover? No, you've been very thorough, Tom. Is it the color? Now don't have your people learn that and say the color unless that is really part of the transaction, okay? Seriously, level with me. Gosh, could it be the money or the financial aspects? Because see, what I'm trying to do is get them from the stall of I want to think it over Let's talk about money. Well, Tom, I got to level with you. I think it just costs too much. Well, you know, today most things do. Can you tell me about how much too much you feel it is? And now we have an amount of money that we then go into the reduction of the ridiculous with. Okay? Oh, I love this. People today will say this more than ever before. You know, I think I can get a product just like yours cheaper somewhere else. How many ever heard it? They're all gonna say it. Well, learn what to say. You say, oh gosh, that may well be true, John. And after all, in today's economy, we all want the most for our money. You know, a truth I've learned over the years is that the cheapest price is not always what we really want, because most people look for 3 things when making an investment. First of all, they want the finest quality. Secondly, they want the very best service. And then third, they want the lowest price. You know, John, I have never yet found a company that could provide the finest quality, the best service for the lowest price. And I'm curious for your long-term happiness. Which of the three would you be most willing to give up? Fine quality, excellent service, or the low price? Now you'll be amazed how that one will work for your folks. Okay, the bottom of the page, number 10, the last close there is called Similar Situation. And you want to teach your people to learn true stories about other people that love your product and are happy they got it, because that's more powerful than you telling them they'll love it. And that's what similar situation closing is. Alright, turn if you would to page number 12, and you may— I made page 12 one separate page because I'd love to have you take this, make a copy of it, and when you go back to your company, you might want to put this up where all the folks can look at it. Like, I had a bulletin board where I'd put up things and I'd tell my people, why don't you guys just read these? You gotta come in here to go to the bathroom. I put them on the bathroom wall so they're doing two things at once, which I think is, is important. When my kids were living at home, they'd come out of their bedrooms into a central foyer and then walk down a hall to go down to the door in front. Well, I put these placards all along the wall, and I simply— my kids have always been very good to Dad, and I would just say, kids, you gotta walk by these. Why don't you, to get ready for your day, just read them? And you should see these kids, and my 7 grandkids. I got a 20-year-old grandson that this kid can spit these out as fast as he can talk. So I hope you'll take these and maybe put one page up in your office, all right? Look at number 1. Whenever you fail— would you read it with me? I never see failure as failure, but only as a learning experience. Do you know that's what your whole life is? One learning experience after another. You lose money, learn from it. You have a personal crisis, learn from it. And that makes everything positive because it's a learning experience. Let's try number 2, ready? I never see failure as failure but only as the negative feedback I need to change course in my direction. Gosh, I love that one. I love analogies in my teaching and if I can turn this on real quick, I think this is a good analogy. This is a submarine and this is the torpedo or the target. Now watch this. When they fire the torpedo at the target, it leaves the sub, the currents push it off course, the sonar kicks in and says, "No, you're off course." It turns, overcorrects, "No," and then it turns and it gets the "Yes," the explosion, because it handled the "Nos." Now what would happen to that torpedo if it was like many people in our country that took it personally? What might it do? Any ideas? Could explode right here. I'm not leaving. And you have people like that in offices. They blow up. I hate this thing. I just don't— Or it might refuse to turn. I had one young guy who said, I'm gonna take you out in the street and show you how to prospect. I went to the men's room and came back and he was gone. Never saw him again because of his fear, okay? Might go in circles. Some people just get in their car because no one can reject them at 45 miles an hour. I'm driving, driving, driving. You can't reject me in my car. So that's the negative feedback. You need to change course in your direction. Number 3, let's hear it. I never see failure as failure, but only as an opportunity to develop my sense of humor. Do you know if you laugh every time you fail, you can spend some days in stitches? I want to end my talk with something I've never taught on laughter in just a few minutes. Number 5. I— or I'm sorry, did I give you 4? Let's try 4. I never see failure as failure, but only as an opportunity to practice my techniques and perfect my performance. Number 5: I never see failure as failure but only as a game I must play to win. I'd also like you to, as a gift, take my champion creed, and I really believe that this creed is the essence of being happy. So would you read my creed with me? I am not judged by the number of times I fail, but by the number of times I succeed. And the number of times I succeed is in direct proportion to the number of times I can fail and keep trying. See, that's the essence. You haven't failed until you quit. You know, I was talking about laughter. I have a book, and it's not a book on business, it's just all my jokes, because for many years people know that I collect jokes. I have 400, and they're categorized by different industries, because I love laughter. Well, there was a television show on the other night on laughter and the curing effect it has on your body, and this Dr. Beck came on, and there are endorphins created in your body when you do laugh, And it really is healing. And you know, there's a reason why Bob Hope, as an example, you know, some of the great, great comedians live longer than 90, 95 years of age, and I really feel a reason is because their whole life is looking for humor. So whenever you have a chance to laugh, overdo it. Don't just chuckle, get that belly going. I'm gonna ask you this as I finish. How many of you ever had a day or a week that was so awful you wanted to get in your car and drive off into the sunset and just leave your business? How many of you ever feel like that? You know, I came this close to leaving real estate, and what happened to me is I, in 4 months, I had made this one little sale, $42,000 a month. And my dad had almost disowned me and see, one of the things I had going against me is I didn't have a car and trying to show homes on a motorcycle, this was not easy. It wasn't easy. Well, about 4 months after I was in the business, my dad comes into my office and of course my heart leaped because I love my dad. It broke my heart when he disowned me because I wouldn't stay in school. And he walks in my office. I says, "Oh, hi, Dad. Gosh, thanks for coming to see my office. Look, I have a desk." And he says, "Do you like selling?" I said, "Dad, I haven't made a dime, but I love this business. And if I can ever figure out what I'm doing, I'm going to be a success. I'll prove to you I will be." And he said, "Son, don't you think you need a car to be in real estate?" I says, "Oh, I do, Dad. It's so embarrassing. They want to see a home and they follow me on my bike, and then if they don't like it, they try to get away. But Dad, I chase them. I chase them." So my dad reaches into his shirt pocket, God bless him, he pulls out a check. He says, "You know, your mom and I don't have much money, son, but I think you can start with a transportation car, and here's $200." I took that $200 the next day and I found a car. I know it's hard for some of the young people to believe, but if you humbled yourself— this was in the '60s— to drive a car made in the '50s, you could find a piece of junk for $200. My first car had over 140,000 miles on it. It was a convertible Oldsmobile '55 and just beat. And I didn't get in the back seat when I bought it, but the springs were coming right through the seat. I didn't know it. You know, I get people in the car to show homes, and they'd hit the seats, and I'd hear them go, "Whoo!" And I'd go, "You buy a home, I'll let you out. Hey, hey, hey, hey!" Well, wouldn't you know it, the day after I get the car, 10 in the morning, the phone rings, and I'm not kidding when I say this, gang, the woman's voice was a melody, And she said something I'd not heard in 4 and a half months. She said, "Sir, my husband and I'd like to buy a home from you." I had never heard that. I wanted to go, "Mom, is this you?" Then she knocks me out of my desk. She says, "And we'd like to spend about $200,000." Well, see, $200,000, the average 3-bedroom, 1.5-bath home is $290,000. $209,500 average in the United States, ranging from California, where the average 3-bedroom home is $700,000 now, out to some of the areas where in the Midwest they're still $100,000 and $150,000. But that's about the average they say in the newspaper. So when she said $200,000, our average home was $18,000. So I wanted to go, how many homes did you folks like? Well, she agrees to come in, and I ran to my manager. I said, Mr. Manager, this woman's coming in to see a $200,000 house. He says, you're kidding, there's nothing like that for sale. He says, well, I'll tell you what you better do. There may be another broker that has one, so get yourself in that old car and talk to another broker. So I drove up the street, got out of my old car, walked in, the broker was there, and I asked if they knew of a home in the $200s, and they laughed. He says, "We don't have anything like that." And then I went to the second broker and the second broker says, "Son, I'm surprised you came in tonight or today because last night one of my salespeople listed the most expensive home in all of Ventura County." Now listen to the stats. This is being 1964. 5,000 square feet, 5 acres, swimming pool, Maids' quarters. Top of a mountain overlooking all the valley. $187,000. It's $2.5 million today. Well anyway, the broker says, "He's in Europe. Here's the key." So I drove over to this house, and again, I was raised in an inexpensive, cheap little house, and I'd never been in an expensive home. So I walk in, I'm going, "So this—" is how rich people live. And I mean, I'm overwhelmed. And of course I'm thinking maybe I can make a big sale. And I drove back to my office, then I made my next mistake. I went into the office and I went to my desk and I took a piece of paper. Let's see, $187 times 6%. Woo-hoo-hoo! And I'm all excited. Well, By the time she comes in, I'm a nervous wreck. I'd never seen a person of wealth. And so in she walks, and I'm not kidding when I say this, I'll guess her age at maybe 27, 28. Absolutely beautiful woman. Diamonds all over her hands, beautiful hairstyle. And I walk towards her, and I know she took 2 hours to put on that makeup. Just gorgeous. And I can't hardly breathe, I'm so nervous. I said, "Ma'am, I'm Tom Hopkins." I found a home I think you'd like to see. Well, she's so beautiful. She says, fine, young man, and I'll ride with you. I said, okay. We go out and get my piece of junk, and we're driving to the house. Now keep in mind, this is mid-July. It's going to be over 100 degrees, high humidity. So we're driving to the house. I'd only had the car one day, and I didn't know the gas gauge was broken. I get an eighth of a mile from the house and my car starts to jerk and I'm out of gas. Well, I roll to a stop. I said, "Ma'am, I'm so sorry. The gas station's right around the corner. I'm out of gas. I apologize." So I just jumped out and took off running to the gas station. And I had about 28 cents, I think, which then you could buy about a gallon of gas. So I got this little can of gas and I come back. She's 25 minutes sitting in this car with the windows up. It's 100 degrees outside. And I open the door and to get in, I wish you could have seen her. She's sitting there with this blank stare. Everything she'd put here is now down here. I said, ma'am, I'm so sorry. And I started the car and we took off and we get to the big house and I have no idea how to show a home. I know nothing, but I'm trying to be neat. And so I walked across the living room. I said, ma'am, you've got to see the view. Come out here on the patio. And I walked to the patio doors that had drapes on them, and I pulled back the drapes for her to open the door. She didn't even see the slider. She didn't even see the slider. I said, won't you step out? She says, thank you. Bam! She hits that door, almost knocks herself out. She stumbled around. I said, "Ma'am, I thought you'd open the door." Well, she starts crying, runs down the hall, locks herself in the bathroom. It happened so fast I'm standing there in the living room going, "You know what? I don't need this. I'm just gonna leave her." I says, "Oh God, I can't leave her." So I go down the hall and I'm knocking on the door and finally she opens the door. Now she's crying and she's a mess and I'm a mess. I says, "Ma'am, we have to go." So I just grabbed her under her arm 'cause she wasn't She's stable. And I get her out in the car, plunk her in the car, and we're driving back to the office. Now I'm not staring at her, but I can't help but see out of my peripheral that her head is like one of those dolls and it's bouncing like this. I said, "Oh great, brain damage. There goes my real estate license. Way to go. Way to go." Well, I get to the office, the wheels on my car haven't even stopped. I mean, I'm still rolling. She gets out and she just starts walking towards her car. Well, of course I'd had it. I went, "Bye-bye!" Well, I come in the office and my manager says, "Tom, how'd the big sale go?" "Unbelievable! It was the worst experience of my life! I ran out of gas, she sat for 25 minutes, she's wringing wet, and then I get her into the house, she mashes her face into the door." I hate this business. Why did I get out of construction? And 20 minutes later, the darn phone rings, and it's a man, asks for me. I says, I'll take it. Tom Hopkins. Sir, you just showed my wife a home. Oh God. I said, yes? He says, I don't believe it. I have to see it myself. We'll be there in 20 minutes, and he hangs up. Well, I run to my manager. Mr. Manager, I can't stay here. This guy's going to kill me. You know, managers always sell, sell, so you manage one. Now listen, Tom, baby. Hey, listen to me, buddy. You can still make that big sale. Here's the strategy. Whenever you have a traumatic experience with a client, the next time you see him, you act as if nothing happened and just start all over again. Well, gang, I've always been coachable. Meaning, you tell me to do something, I'm coachable. I don't fight it. 20 minutes later, the door opens and they come. I'm so nervous. You got to picture this. I never dreamed that what I'm going to tell you I'd stand on a stage and tell because it's so embarrassing. But totally true. I sit down, he sits down, she sits down, and we're talking. And this is back in the times when we had a lot of horses. And if you ever had horses, you have horseflies. Well, all the time we're talking, there is this big devil flying around the room, and it flies right in front of my face, and I don't know what possessed me. I don't know what happened. I mean, I'm out of it. So this fly comes by me, and out of pure nervousness, I went, I got it! I turned the brightest red you have ever seen. I now have two decisions I can make. I could go, "We love them here," or I could spit it out, which I chose to do. I went, "Tsk, tsk, tsk, tsk." I look up, here they sit. The wife's going, "I told you so, honey!" They didn't buy from me, okay? In fact, they got a form letter 2 days later on his letterhead. It said, "Mr. Hopkins, based on our short exposure to people in your area, we are going to stay where we live." I tell you that true story, first of all to let you know that life, as near as I can tell, is a cycle of uptimes and downtimes, of happy times, of sad times, and crisis and non-crisis. And it's just the way the darn game is. And I think the key is to realize that and keep your attitude, your activity up, because I think if you keep active and keep moving, you work through these cycles. I really believe that. I want to thank you for being so nice to me tonight. I sure had a good time with you. Thank you.

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