The Mike Ferry Organization
ConsumerAffairs Unaccredited Brand
I have been a coaching client of the Mike Ferry Organization since 2002. It has been a life changing experience and helped me grow my business to heights I never thought possible. The coaches are outstanding and the support and advice I have received from MFO has been second to none! If you are considering a career in real estate, I can't recommend these folks high enough!
They are such a scam. The sale rep made me think that if I can't afford it after a few months I could cancel. So, I try to cancel, and they say NO! They don't allow cancellations. The only way out of my contract is if I pay almost 3000 dollars. Why? Why keep me hostage? Just let Me go. Such a scam!!!!
I was at a Mike Ferry event and signed up for coaching. What a mistake!!! It's expensive and the coach doesn't really care about you. The coach was probably reading me a script on all our coaching calls. The approach is old school hard-sell. The only thing the coach will do is give you info from the scripts and tell you to ask good questions. You can get the scripts free online, and every time I asked a coach the question he would say, "What questions are you asking, think of good questions to ask." I was ripped off, but at least I now know what I want: negotiation tips, someone to call when I need out of the box solutions, someone who actually knows who I am. You won't get that here... ever.
They are in the business of tricking you into a contract. The Mike Ferry Organization is more into getting you into a coaching contract and then will not allow you to get out when you realize that the coaching does not work. They prey on new agents that are looking for an answer to grow their business. Once they have you they won't let you out. It is the old world cut throat business mentality.
I've been a consumer and client of The Mike Ferry Organization off and on for 20 plus years. His events are uplifting and motivational. He comes across as honest, professional and caring of people in Real Estate sales or Realtors. When I've been coached by Mike and his coaches I've definitely had some of my best years in selling Real Estate in downtown Chicago. His information has allowed me to be the best I can be as a Realtor. The knowledge allows me to provide great customer service to my clients. In my opinion his message is so clear.... produce better results as a Realtor by using personal growth and development training lined with specific goals set and you'll become a better person and Realtor in the process. Simple but not always easy to do. I'm glad I found Mike Ferry and his message. I have someone to look up to in the business world and it's created a ton of opportunity for me and my family.
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On 09/19/16 Mike Ferry's Organization (Alex, phone # **) called wanted to sell me an expensive Mike Ferry retreat to take place in Hollywood, Florida in 10/11 til October 14, 2016. I told him I could not attend due to illness in my family, he suggested I purchase M Ferry's tapes as contain the same topics presented in Retreat. I agreed/paid/purchased tapes. Alex promised the tapes would be downloaded to my email address. Since 09/19/16 have been waiting from M Ferry Org/Alex send me the tapes/CDs? No results as of 10/16/2016. Please help. Thanks!
I was looking for some scripts for expired listings. And his web came across on the very 1st page on my web search. And next day I went to the event of one of my friend who I met at the real estate school where I studied to get my license and just by chance met another lady who has been doing real estate and she told me she had one on one phone call training with him for six months that changed her real estate business and career. It was valuable thing.
I believe her but it was 15-20 years ago. Thing has been changed and the organization become a too salesy and the two persons that I spoke about the program. They do not explain you about the program in detail but in general and keep asking you how much commission I have coming in and how much you can afford? And how much I want to make? Are you kidding? These guys have very terrible sales skill. Those are the ones who needed to be mentored and trained first.
To be honest I am not hard to be convinced but they pressed my button and make me hardly trust them. From the beginning I was very determined that I do not want 12 month commitment and he lead me to the website page where you are going to sign on the contract. That made me piss off. I repeated him that I may try a month or a couple to see if it's what I want and also I may catch up sooner - I do not need 12 months. He kept telling me they have top producers who have been loyal to them for 20 years. Good for you and that top producer. After years of training and mentorship. you still have to pay $20,000 that newbies are learning? Good luck with that idea. As soon as I mentioned about Zillow Lead that I am working and paying also is disappointed since they are not loyal as much as your referral or prospects you meet in person. He got to lose his temper and said that what they offer are different than those "garbage".
Wow! From that moment I start to doubt more about this company. I wrapped up my conversation saying that my point is very clear - that there is no way for me to commit to the 12 month costs (24x1000 dollars) without knowing what I am getting into. I told him that "you are trying to selling 20 Grand dress without me trying it on. I wanted to have 1-2 months to see that is what I am expecting. Please do not contact me unless you can provide me with that option." I said "I will contact you later if I want to." And he told me I have to tell them I had talked to him before I get to talk to someone else. He wanted to make sure about his commission.
So I understood it's not about the product. It's all about his commission he is about to get out of my contract. I was very skeptical being a real estate agent because I had seen and heard that notion about real estate agents. I have not interest in being a that kind of salesperson. I want to be a knowledgeable and professional agent that get paid for my hard work and effort.
I joined Mike Ferry real estate coaching service in October 2015, now I have been with them for half year and not learning anything new from them while I've being charged for $650/monthly of 4 coaching calls of 30 min each. It's really expensive and I get no value from the calls, I felt I've been tricked into signing up with them and they are only going after my money. I ask them to terminate my contract and they refused. They threaten to have debt collector to ruin my credit scores.
I decided to join coaching in November 2014, after attending the Retreat in Hollywood, Fl. Somebody I used to trust swears by the Mike Ferry Organization. Costly mistake. I did what the program recommends, which is calling expired listings and FSBO for three hours a day. In the caller ID era, hardly anybody answers the phone, and most of those who do are downright unpleasant. There's no shortage of realtors anywhere, so why solicit listing over the phone in blatant disregards of the Do Not Call List? If I had spent $1000 a month in advertising, I would have procured business I didn't get making those dreaded calls. I managed to snag two listings with the Mike Ferry System, and I'm sure I did because nobody else wanted to list unsaleable properties.
There is some value in what they teach, such as scheduling your day, learn about personality styles and using scripts, but it's all stuff you can learn from a book. Mike Ferry doesn't believe in advertising, only cold calling. And cold calling doesn't work anymore. For $1000 a month, 12-month minimum (you cannot break the contract) you will receive free access to the download on the website (big deal), free events for a year and one weekly call from your coach. Oh, and a CD collection and a journal... Personally, I liked my coach, and I received valuable advice from her, but I would not recommend the Mike Ferry Organization to anybody.
I went to the conference last year in Florida. After a week they call me. Well, training people offer a 25 deal a year, if you join to the one one coaching. They offer you 2 transaction they will send to you, that will be pay for the 12 months commitment, nothing to lose. It is a win win. I reject that tentative offer. To good to be real. I receive a new call with good trainer liar to recruiting "innocence" people. The liars make a good job. The two deals Mike Ferry will send to me will pay for the coaching. I fell in the hole…
I follow the process for 5 months. An impersonal process. With the coaching repeat the same the CD say. And the CD teach you how you be rude with people "your clients" because only be a numbers. That is the system. And Mike Ferry do not understand why some many of his "top" agents NEVER Receive a referral. Clear they count numbers never people.
Unfortunately my business from 10 years do not improve with "liar system" only decrease until now I want to quit real estate because is not only I receive a calls, email, and letter from the liars threat me with lawyers and collections and I lost the credibility from buyers and sellers because "the liar system" focus on the defects and not the qualities of the clients. PLEASE BE CAREFUL. No listen the liars, they only want your MONEY.
To those Mike Ferry lovers that call people losers or failures and anything else derogatory, that is your opinion. My problem with Mike Ferry is, he did not create the system. It has been around in its most simplest form for years. The Real Estate profession has a very high fail rate. That is established. I believe Mike Ferry works for some people, a top percentage, and good for you. Then there is the middle who are in for one year, maybe two and then drop out. Then, there is the bottom who don't do well, for whatever reason. So, Mike keeps recruiting people into these one sided contracts that never hold him accountable for the results he represents.
Mike invites people to his seminars and also charges them to come. Which I did. I did not sign up at the seminar. Mike Ferry organization then pursued me. They called me a few weeks later and asked if I would like to do 25 transactions in the next year? Who wouldn't? Then, the recruiter emailed me the contract and made sure I signed the contract while he was on the phone with me. Do you see a problem with that?
Ok, I admit, I should have gotten out of real estate one year ago. However, it sounded really good to do 25 transactions. My coach was nice and all. She required I listen to the CDs of Mike. She required that I listen to the daily call recordings. I did. I paid for FSBO and Expired leads. I called my SOI. I did the scripts verbatim as tikd. People would say, "Are you reading from a script? " "Are you with Century 21?" We have a Century 21 office that is all Mike Ferry. They have done well, but just like the rest of the industry, only a few really succeed and they do really low end properties.
My frustration is that Mike Ferry pursues you. They make representations that sound great. They want people locked into contracts because if they fail, they send you to collections. This is true. I told my coach not to call me anymore because being in Mike Ferry didn't bring me any new business. It was necessary to cut my expenses. I told her her calls were ineffective. I am not a happy customer. But that doesn't matter. Christie from Mike Ferry offered me a new coach. I told her after 6 months with no new business, it was too late. I asked her what she does with customers that are not happy don't pay? She responded that they send them to collections to work out a payment option. And if that doesn't work? They go to a 3rd party. So if you are not a happy customer, you go to collections. Ha! Ha!
To all Mike Ferry lovers that drink the Kool Aid, good for you! But for those that don't succeed, it can destroy your life, your credit, your mortgage payment and make life very miserable, and he doesn't care. To Mike Ferry clients that call people like us losers? Its because you heard that from Mike himself. That is what he thinks of his clients that don't succeed. Let's just say that Mike Ferry helps some people, but along the way he has damaged people too.
Be very careful with this company before you sign any contract. They changed the terms of my contract, but still are trying to enforce terms of the contract. Then they employ several collection agencies to try to collect. The collection agencies(Allied Collection) are brutal and ruthless. I've hired an attorney, because it has affected my credit. I have joined another RE coaching organization and have been very happy with them.
After being in the Real Estate business for over 20 years and being a top producer I hit a low point where I cannot get the sales I ones had again.. so I thought I would go to Las Vegas to one of this seminars offer by Mike...I was not very comfortable going to this because I have heard bad things about this Mike .. I saw him a few times in the award ceremonies of Century 21.. I did not think much of him then and that is the reason why I never did any of its cut and dry sales pitch of his.
Well ... I am going to start with my first mistake I made by signing a 12 month coaching agreement. Right away in the first month, the coach that was put on me .. was a joke..I know more than he did. In a few phone calls he was asking me for advice. .. (I use to make 700,000 in commissions at one time. I just hit the divorce thing with depression). I ask for a different coach.. that never happen. The second month, the same thing .. I felt like I was getting nothing out of it so I try to cancel in hopes that they would put a different coach... the 3rd month the same thing ..So I did not pay the 1,000 per month.. the 4th month the same thing and the 5 month.
On the fifth month the call me and ask me for a payment ... I told them of the problem. They said no problem .. bring the account current and we'll talk. Once they had my other 3,000 for total of 5,000 I had nothing...You not going to believe what happen.. they went into my bank account and pull all the saving that I had without my authorization... Now they had 7,000 of my money.. Now they send me a collection agency for after an other 5,000 .. **. My credit is bad and I did not get anything out of this..
I also explained that I was going through divorce.. no money, my kids were with me.. (the wife found another man). Mike Ferry had the food for me and my kids. I wish someone can teach this man a lesson... He has no feelings for anyone ... all he cares about is himself .. He even hates his own kids.. Mike Ferry JR..because his own company doing the same thing as the father. If I had a kid that is growing and looking for success ..I would be so happy for him.. not Mike Ferry. My son is a Realtor .. we are seeing hard times.. we can use the money he took from us. He is an ass ...I would like someone with tech save to pass this on to anyone who is thinking of signing up with Mike ..He as treating me, had his lawyers call me .. I don't know what to do.
I am a realtor here in San Diego looking for an attorney to represent me against a fraudulent creditor. I’m not really sure where to begin my search or if your firm could help in my case. The short of it is that I went to a conference here in San Diego held by the Mike Ferry Organization. I was pregnant, newly separated and emotional to be sure and made a decision to sign up for 30-day trial of one-on-one coaching with a 12-month ‘commitment’ with the promise that I could put my account on hold for maternity leave or illness since my situation was very unstable. I began treatment for major depression by my attending physician and a psychotherapist.
My depression rendered me unable to work which I did try to explain to Shirley **** at the MFO office when I called to cancel my account before coaching began. I was informed that I could explain to my coach my situation when they called, which I did. The coach told me in December that he would seek a hold extension for me so that I would not have to cancel. I told him again that my family has been financially devastated and I was trying to get back up on my feet again and just try to take care of my children which I was unable to do at the time due to my depression. I was unaware of any hold fees or that the extension was not granted.
Again, it is MFO policy that an account can be placed on hold for illness and I was quite incapacitated. I am still undergoing treatment and trying very hard to get better and get on with my life. However, I never heard back from my coach until February when he called to say we needed to have a coaching call. Despite my many attempts to communicate with Adrian **** who seems to be in charge of collections at MFO, my attempts to cancel were denied and I was informed that they would cancel my account and get a judgment against me for $12,000 plus attorney’s fees.
Problem number two is that I was also assured I would receive 3 coaching calls monthly. The first month went by and I received one and my coach no-showed for the second. Nevertheless, my card has been charged for $1,000 plus a holding fee and I was unaware it would be coming until I received a copy of MFOs Policy and Procedures Manual in my mailbox some weeks later. Moreover, the services promised at the conference which include a neuro-linguistic coaching are not actually available to me until I complete 6 months of this coaching at $1000 monthly. I explained to my coach that I would have to cancel and they could keep my deposit.
I continue to receive threatening emails and phone calls from this organization claiming I must pay them for February when I received no services and for every month thereafter or they will turn me into a third party collection agency and file suit against me. My financial resources have been depleted because I had to cover our household expenses while my husband looked for new employment and I was treated for severe depression. I’m still trying to get back on my feet. I just don’t think it seems legal or right that I should have to pay for services that were not as advertised and frankly, were never fully rendered. I did some research and it does appear that MFO has quite a collections operation set up and they have filed judgments against several realtors here in San Diego. They max out credit cards when they are not authorized to do so. I want to be prepared if they do decide to file against me as well.
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