I’ve posted about Mike Ferry before. I have seldom had nice things to say about him. This time will be no exception. It isn’t that I think he charges too much for what he delivers – because I don’t. I believe any service provider should be free to charge whatever he wants to charge and that his potential customers should be free to agree or not agree to pay that amount for the service.
My beef is only with the nature of the agreement he gets people to sign. That and his actions if they don’t want to continue with his services. Just those two things: What he gets people to sign and how they are treated if they don’t want to continue: Mike turns them over to a collection agency and threatens them with a lawsuit. Once you sign up and give the Mike Ferry Organization your credit card you have to pay for "the duration of the contract". Period. I don’t know of any other real estate business coach who has a similar practice.
To be fair, Mike has people who adore him. Here are a few: Sylvia Morris, Liz Carter, and a guy I personally know of and respect, Genuine Chris. So I am not saying that what he teaches does not work, as it obviously does. I am saying I don’t like him or his methods. I am not alone. It would be totally alright if I was but that isn’t the case. Someone (I don’t know who) has even registered mikeferrysucks.com. A quick search also finds items like this.
Here is a letter I received a few days ago. It is a (redacted) copy of a letter to Mike Ferry.
….Your letter [collections] is not only threatening, it crosses the boundary of fair business practices that has had a negative impact on my company, as well as its agents. Notwithstanding that … I respectfully request that you terminate whatever “Contract” you say you have … as well as any further payments you are demanding, and “including filing suit.”
It is my sincere hope that you will agree to the above immediately; and avoid the imminent adversarial actions that would follow should you pursue this further, including, but not limited to, counter suit, filings with business/professional organizations and State Agencies. You represent yourself to many realtors as a consultant and “coach” to advance their sales abilities; however, you also appear to be a very formidable “Collections” business, based on your referenced letter. I would question if the realtors to whom you sell your services were aware of your “Collections” business, which must be a major profit center to you right now in this difficult time in the real estate industry [They] do not understand all the consequences of your services not only failing to improve income; moreover, actually reducing it.
And then this one today:
Dear Mr. Ferry:
This is in follow up to letter to you…. The following are questions to which we need answers based on information found by cursory research on your organization.
We could not find any business registrations in the State of CA [corporations, Agent for Service, DBAs, Business License, etc.] Please provide us with your Agent for Service in the State of CA.
I … reviewed your “Contract”… It states: “This contract is deemed entered into on the date when it is approved and signed by MFO and it is deemed to be entered into in Las Vegas, NV.” It is understandable why your “Contract” calls for that jurisdiction, if in fact you have no legal presence in the State of CA, disallowing you from any legal enforcement rights here. First, the cited “contract” is unsigned by MFO, there is no “Approval Date,” nor “MFO Initials.” It is therefore not valid. Second, agent may have been injudicious in signing such a contract, particularly with Las Vegas as its place of venue; however, you in fact entered into this contract in Orange County, CA, from your offices located here, and offered your services in this location – Not Las Vegas, NV. Accordingly, your “Contract” has no legal jurisdiction in NV or CA. Moreover, MFO operated from Irvine, CA, without any legal business permit, according to public records. Should you choose not to drop your threats and claims … we will file an action in Orange County, CA, to not only nullify your “Contract” but to seek restitution.
Other public records found include 20 civil actions – in Orange County alone – in which you were Plaintiff 11 Times [Primarily “Breach of Contract” – those would likely be your “Collections” actions against unsuspecting realtors] and Defendant: 9 Times [Libel, Employment Related actions, Collections, Sexual Harassment]. Among other things, I would like to know under what legal auspices you were able to sue in CA. Do you have any legal business entities filed here? Again, if you do, we need your Agent for Service.
In addition to public records, searches on Google, etc, produced unsettling information on MFO, if true. I do not give personal invective [and there is much of that published about you and your organization] much credence; however, references to your problems with the State of CA, EDD, Franchise Tax Board, etc, and looming mass action suits against you by your “coaches”& staff point to serious issues about your business, its practices, and reasons for leaving CA.
…Absent that, you will find yourself back in Orange County, CA, shortly to stand probe.
I also received from him an extensive list of the public records for Mike Ferry’s lawsuits. I found the length of the list most interesting. Obviously, if a Threat Letter needs to be sent to me, here is my contact information.
Matt Thomson
December 16, 2008 at 10:33 am
I love how you’re always up for a good fight when one is needed. When do you run for political office, ’cause I’m ready to vote!
Danilo Bogdanovic
December 16, 2008 at 11:03 am
I love it how you like sticking up for the little guy (speaking from personal experience).
James Malanowski
December 16, 2008 at 11:04 am
Early in my career I received a call from one of his telemarketers trying to get me to sign up for their coaching program. Normally I hang up on them but I decided to let him talk for a bit.
I actually liked what the guy was saying but told him I needed to discuss the program with my wife before making a decision. After several closing attempts and me responding with “I have to discuss it with my wife” the jerk says “Do you need her permission for everything? I guess I know who wears the pants in YOUR family!”
I informed him that he was a “f**king idiot” and if he had paid attention to my profiles that, aside from being married, we were business partners. And, yes, before making the kind of commitment they were asking for, I would most definitely need to discuss it with her. And even if we weren’t partners in business we are partners in life and anything I do affects her directly.
I also informed him that he *ALMOST* had a sale until that stupid comment and I would not EVER consider doing business with his company. Not only that, I will be telling anyone who brings up the subject of signing on with his firm how this conversation went and the tactics that are allowed to make a sale.
I’ve held firm to my word and have never gone to any of their seminars, taken calls from their marketers, or anything.
STAY AWAY FROM THIS COMPANY!! The only interest they have is their own bottom line!
Genuine Chris Johnson
December 16, 2008 at 12:07 pm
Thanks for the link and kind words, Russ.
Let’s be clear: I’m a fan of action. I’m no fan of Mike. I like the ideas that travel and a lot of the community he’s gathered. I know loads about him.
I was involved through Tim and Julie (I reached out to them when they were Columbus’s Top Agents all those years in a row). Tim coached me, and I think that I might have felt differently if I hadn’t had his perspective–there is an anxiety…fraud…within that organization that I don’t get.
Y’all should be following tim at https://timandjulieharris.com.
There are high drama types that I have no patience for all around. There is a focu s on money I loathe…because there is more to balance than your checkbook. There is a wink and nudge tolerance for fraud. I don’t dig that. That starts at the top.
That said, I’ll always be grateful that I was involved for a year. Well worth the $$ even though I’m not recommending it now. Learning to be self reliant and to initiate the energy was what I got. And I’ll keep it.
Like everything MF is a mixed bag. I think that there are shitty ideas in the organization that are dangerous to agents. They lead to burnout and terror. Mike has loads of charisma and his ethos is very boomerish.
Ideas not people: he has one great idea, but to get that you have to endure loads of bad ones.
The Wolf
December 16, 2008 at 2:28 pm
Russell. Appreciate the work you do as watchdog for our industry. You are generous with your time and have guts. I want to give you a heads up on your referenced site above. https://mikeferrysucks.com/ is a spyware site, which requires you to allow pop-ups, and once you do like 5 pop-ups blast across your screen. I recommend everyone block this sight as a security threat. By allowing this site and all those pop-ups you are vulnerable to malicious software. Please post that to your audience.
Matt Thomson
December 16, 2008 at 6:38 pm
James, that’s a crack up because I had the same call! I am not business partners with my wife, but we don’t make large financial decisions without each others’ input. I obviously have no idea if it was the same guy, but when I attended Matthew Ferry’s free deal in our area, and then got the follow up call to sign up for Michael, I got nearly the same line…”You seriously have to run this by your wife? I’m sorry, I thought I Mister Thomson was a man.”
I kind of laughed, then just hung up.
Bob
December 16, 2008 at 8:20 pm
Go Russell go!
James Malanowski
December 16, 2008 at 8:23 pm
@Matt Thomson: YES! That was the line! It’s been so long I forgot the wording!
Either it was the same guy or that is one of their rejection response cards.
What a slimy organization!
Danilo Bogdanovic
December 16, 2008 at 9:06 pm
HA! That line about having to check with wife is straight from the scene in Boiler Room where he cold calls Henry for the first time.
Wonder if he quotes other sales lines and techniques from the movie in his courses…
James Malanowski
December 17, 2008 at 12:52 am
Damn, you’re right! I knew it sounded familiar.
Well, at least you know they don’t spend a lot of money on training videos for their telemarketers.
Bob
December 17, 2008 at 9:49 am
I went to one of his two day gigs in the 90s led by Tom. Some serious kool aid drinking going on there.
Not my style. Apparently no longer that of his sons either.
The Wolf
December 18, 2008 at 12:20 am
You are the Best Russell. You achievements and considerations for everyone in the biz is commendable.
Tamara Dorris
December 29, 2008 at 5:26 pm
Russell, I think you are a rock star! Seriously, I have been saying this same thing for eons. Before I started my RE coaching biz (and I started because I was a real estate professor and agent and author who saw a need not being fulfilled) I spent tens of thousands of big bucks to train under all these gurus….learned mostly what I didn’t want to be like as a coach, but less I digress. My same experience came with Joe Stumph (mentor of Craig Proctor and Buffini). I was licensed–still amm–and gave it my all, but the coaching sucked and after 6 months I told them I wanted out. NO WAY, unless I gave up my license and proved it. Idiots.
Thanks for bringing this to light. As for me, my clients can tell me to kiss off any time they want…if I’m not helping them sell more houses, I’ll tell myself to kiss off.
Take care,
Tamara Dorris
Mike Hughes
January 24, 2009 at 7:33 am
A contract is a contract is a contract. These are contracts between two businesses (an agent and MFO). As real estate agents, we should fully understand this. If I was Mike Ferry, I would do the same … people need to be held accountable for their decisions. Yes, they are high pressure, but no one physically forced anyone to sign anything. Here’s a thought: Try getting out of your mortgage contract, or an automobile contract … do you think these companies will treat you differently?
Best regards,
Mike
Len
February 17, 2009 at 2:15 pm
Russ,
This is a change from one company to another. I just went to a Craig Proctor half day seminar. I signed up for his Quantum Leap and said to the seminar leader, “Do not process this because a) I wasn’t certain if I could make the date (had to do it at the seminar to get the package price) and b) I wasn’t sure if there was enough money in the account” (it was a debit card. He said no problem just call the office at the beginning of next week. I called on Monday (which was a holiday for them) I left a voice message and sent an email for backup to show I cancelled before it was processed. I checked my bank account and it had not been processed.
This morning I got call from the seminar leader saying he got my message but it had already been processed and there were no refunds. I checked with my bank and they processed it about an hour before he sent me the message. Have you had any experience with Craig Proctors stuff? Right away this experience makes me question his integrity.
Any suggestions on the actions I can take?
Len
Stefanie Louis
March 4, 2009 at 9:00 am
They put the koolaid to my lips, but I wouldn’t drink. So the people I work for now zombie Mikeferrians and very coachable have cut my salary, done away with my vacation and sick days and slashed my hours. I went from a somewhat happy “team member” with a real estate license and years of experience in support, to a devalued indentured servant who makes coffee. Very challenging to remain humble, but I will prevail. Don’t get mad – get even. This by being true to myself and keeping my integrity amidst the psycho “warriors”. Yes, the people I work for think of themselves as warriors and use words like hunt and kill. It’s so funny…
Must go to work Mike likes the office open at the crack of dawn….lololol
Sally Nyland
March 9, 2009 at 8:56 pm
So here’s a comment from someone who worked for a Mike Ferry-coached realtor, as an admin asst. My former boss was well suited to the cold-calling process. My coming on board as his transaction coordinator helped him double his income in one year and become the #1 agent in his franchise. He was on cloud 9, and it was actually quite fun for me. I kept taking on more and more responsibilities because Mike Ferry only wants agents to list, show properties,negotiate and write contracts. All other activities should be done by others on the team – in our case – ME. And if Mike said it, it was as if Jesus Christ had said it, so I took that to heart and just did more and more. I actually LOVED helping my boss, and we made a GREAT team. Then, things changed . . . as if I weren’t doing enough, I now was told I had to get a real estate license and do things that I didn’t think were representative of my best skill sets (negotiate home inspections and be totally responsible if the buyer’s loan went south – things he was so great at – negotiating/being financially astute). If I didn’t do these things, I was told there was no longer a place for me. I was shocked. I helped him make a quarter of a million dollars two years running, and I did ALMOST EVERYTHING (we’re even talking payroll, taxes) that could be done except bring in the businss. In my eyes, this was VERY SMALL THINKING, and I think his Mike Ferry coach encouraged this line on thinking. My value, as an Ivy League graduate, went WAY BEYOND the “transactional”. I thought I was a solid business partner who could expand the team and truly send the business through the roof. He could have hired an additional individual (preferrably an agent) to help unburden me, keep me doing all that loved and did best, and start expanding the team. He said he had no money to hire help. BUNK! And he told me not to make it all about money (it’s about dreams and goals). BUT IT IS! I sat in the front row of a Mike Ferry Superstar Retreat and heard him belittle people who “only wanted to make $80K”. I would have been very happy to make $80K. Others told me I did the work equivalent to that. I wasn’t even paid half that but that was OK . . .. I was so caught up in working, working, working, going like a hamster on a wheel, that I didn’t realize any of that – yeah, shame on me. Anyway, he’s on his 3rd assistant now . . . in 15 months. The Mike Ferry Organization does not teach agents how to build a business, only how to bring in business and apparently keep as much income possible. While it’s essentially OK for them to help agents get business and not spend money foolishly, I would say that paying attention to the talent you have and learning how to structure a business using that great talent should be a consideration in any coaching company. I now work for a talented young real estate lawyer who pays me well; he takes a very modest salary in order to compensate me appropriately and grow his practice, and he has a nice work/life balance. If the Mike Ferry system suits you, that’s fine, but have the courage to use some common sense as you consider how to build your business while working within their coaching system.
Samuel C carpenter
October 9, 2019 at 1:39 am
I would say that you are right. He isn’t running seminars on organizational behavior. He is running seminars on listing.
Jennifer Johnson
April 8, 2009 at 3:11 pm
I absolutely am in agreement with the previous post from Sally N. There is no balance just greed and in my case they also like to be dishonest.
In my mind EST has nothing on Mike Ferry!!! The group panders to the insatiable ego’s and stupidity of the agents. Nothing new, there is a sucker born every minute these days.
Remember you don’t have to be smart, ethical or nice to get a real estate license and as we all know the agents that feel the need for Mike Ferry are so very dumb and lazy and egotistical – Oh, did I just mention all the partakers of Mike Ferry and his never ending and I mean never ending coaching calls with his loud mouthed coaches? Yes, guess I did. I’m convinced their are shills on those creepy mind control like calls….
Mike Ferry does not value the hard working real estate assistant and espouses the “work the horse ’til it drops and get a new one” mentality.
That way they can keep retraining the Assistants over and over and make more money at that, all the while manipulating the agent’s to keep giving MF money, because they found that the assistant wasn’t able to live up to the impossible list of 5,000 bullet points in the Mike Ferry assistant job description. The agent’s are always running to do the next thing the coach tells ’em and it always is a new world for the assistant every time they get back from one of the “rallies”. lol
The assistant position is “disposable” to the Mike Ferry organization. The agent’s cannot do it all and do not know how to do a large portion of it (hence the need for the assistant to do everything) and are playing video games etc while the assistant does all of their work. If this system worked so well then Mike and his “coaches” would be selling real estate! But alas one does get tired of knocking on doors and making those pesky prospecting calls…Greed can get lazy but can morph as we all know.
Deborah Ferguson
May 4, 2009 at 5:58 pm
I must say it is quite validating to see these posts! You know the coaches have to be scrambling to keep their devotees in line and under their thumbs. What with the new economy and all. They will have to keep the money pipeline full for themselves, so watch- they will tell them they don’t need things (things the BW’s (brainwashed) do actually want and need)
For instance they will tell them basically what Suzie Orman says – pay the minimum on credit cards, pay your house payment ,and cut the rest or let go of other things. Sounds reasonable…. But remember the coaches have to feed off the BW’s….hmmmmm what else can they cut out?
Oh, I know any staff or support that hitherto fore classified as the “mule” for the deified agent- the prince and princesses, kings and queens of real estate…yes the essential non-essential “ASSISTANT”. Remember prior to this the ASSISTANT’S were the basket into which everything was tossed “at”. Now they must get rid of the assistants, which these agents need desperately. If they get rid of the assistant, who will return calls? Who will do the updating, emailing, faxing, field calls while making the out of touch agent look good? Who will make sure EVERYTHING IS DONE?
The coaches don’t care they need to get paid….so they minimize the position and justify the cut by pointing out how the assistant or staff has outlived their purpose…Now this is where it gets interesting because mind control can go just so far without a week long session to really get into the agent’s heads. No one has money to go to these events any longer….This is where the men will be separated from the boys. It’s like Cookoos Nest and the coaches are all Nurse Ratched. These agents like their work mules, but they like money more…but they don’t like working…..but….and so it goes. It should be interesting as the love of money bites the sycophant coaches in the rear end! Would love to hear from some more refugees of the MF’s.
Joanne Freedmon
May 5, 2009 at 4:24 pm
Its kind of funny how people get the reputation for being agressive, and then “nice” coaches, and then things seem to change. All I know is I have done the Mike Ferry coaching and I have followed Craig Proctor, even a little with Boufini. The coaches seem to have hige volume with foreclosure work but they tell us not to work with foreclosures. This is the first sign that something was wrong. When I found out that most of Mike Ferrys top producers use reoprep.com I asked my coach and they said “do not work with foreclosures”, now what is that supposed to mean? I left the coaching and started inquiring with the different reo companies and now my business is booming. Maybe I will go back to a coach when my reo listings dry up!!
John Matukas
September 29, 2009 at 9:35 pm
When you sign a contract aren’t you supposed to honor what you sign? Grow up, just because you decide not to committ to working you want to bail out of the contract with Mike? You have all decided to follow this guy Russell Shaw since he has an axe to grind for reasons that I am not privvy to and I am not interested in.
I can tell you this, I was behind 3 months in my monthly fees with Mike about 3 years ago and I will never forget that he let me off the hook. My business has expanded since that time. He treated me nice and proved to me that he is a nice and opened minded person. Since that gesture was made, I have done better each year and now he has someone that endorses him.
Sure, piss him off and he will rightfight back. Piss me off and I will do that same, it is only natural.
Stop whining and get to work.
NewB
November 18, 2009 at 3:03 am
Reading the comments and experience with the MFO is very interesting. Just recently I joined a large franchise because the owner seems friendly and the place sounds easy going. I watched a couple of the MF scripted videos and it seems pretty helpful even though you can start seeing a repeat pattern after a while.
I downloaded pretty much every single online document and after reading most of them it made sense on why certain assistants or agents get treated. My understanding is that they separate agents and assistants into separate groups based on their production and the managers are taught how to monitor the teams and their 1 on 1 meetings. Eventually the ones that don’t make the cuts are quickly shown the door. I accidently read the “Manager report” and “action plan” and when I spoke to my manager that day, everything down to the “t” were from the report, which I could easily answer but some of the tasks are pretty overwhelming. After this I started to feel the burn-out from the stress of needing to always perform at a very high level.
I do believe there are a few good techniques and a lot of not so good ones, but is it worth to burn out your agents? If you could get a hold of it, read the “Manager report” which I believe there is a 2009 and 2010 one and you would understand what I mean. The broker/owner are told that pretty much that unless they follow his teaching to the dot, their businesses would not be successful or would fold.
Tyler Webb
December 5, 2009 at 3:00 am
This discussion is silly. Mike does not “get people to sign” anything . . . no one has ever forced a person to sign Mike’s contract. Finally, someone in real estate advocates working hard and running your operation like the business it is . . . and the bitching and moaning commences. GOI!
Jim Ronding
December 28, 2009 at 12:10 am
Hey there! 2010 is just around the corner! Time to get focused on what you can do to make a difference in your career, if you are coached or not! Move on with things in your life and forget about Mike Ferry if you need to.
I had MFO coaches for 3 years or so. I had some superstar coaches there – Like Ender Ilkay, Monica Reynolds and more. They allowed me to switch coaches pretty easily when I felt the need. Maybe things have changed… I don’t know. All I know I was at a plateau of 40 deals a year, and when I finally took the plunge I went up to 70 in my first year coaching, and have never been below that since – bad economy and all! Take my $12,000 please! Now I think a coach is as valuable as- signs, or business cards!
Since I moved on from MFO I followed Ender Ilkay who had went out on his own, and when he retired from coaching I went on to Jim Bimm. Best 2 coaches ever – EVER – and they were Mike Ferry trained. I miss them.
Now I have moved on to Rich Levin. If you want a very knowledgeable coach with a easy fee and is low key call him up. (Don’t let the easy fee and low key fool you – he packs you with necessary knowledge and systems!) He even gives free 15 minute seminars over the phone and web everyday. Check out richlevin.com
Finally to the assistants – When you calculate our commissions, you may not see the whole picture, and even if it still seems unfair – you try it! Why do 70% of all licensees fail? – It is a stressful, never ending job,and sometimes no matter how hard you try – some people are eternally pissed off at you, and make sure others around them know it. And while you have the perfect check every 2 weeks, we can live on a payscale rollercoaster. I love assistants for sure – but if you want to have more – get in the game! Sell Sell Sell!
Jim R
Duluth MN and Superior WI
PS- I got on this little rant page because I googled Mike Ferry 2010 Business plan, and this was somehow not too far down the page – so I took a look-see. By the way – MFO’s Business Plans are the best by far – and they are free!!!
steve laubly
January 7, 2010 at 11:37 am
I met Mike at a seminar in San Jose in 1979, and have been using “His Stuff” exclusively since then. I never put in the hours others have…My usual work week is 10 – 20 hours. My average commissions have almost always been over 100K, (took 33 listings my first 30 days in the business, 22 sold within 30 days) and I have had years that were well over 200K. In 2003 I opened my own office and used Mike’s system for all my training. I grew in 2 years from 2 agents to 61 agents and everyone was doing well. I sold the company to a large chain brokerage, and now have a cozy little hotel up in the mountains next to a beautiful lake here in Costa Rica, where my wife and I are spending our “retirement”… Made possible by the MFO.
Thanks Mike….
Your friend always…Steve
Jacob Fentis
January 19, 2010 at 1:21 am
I see Mike Ferry asked a few of his employees and fans to respond to this posting.
I have a friend (who’ll remain nameless) who got into real estate a year ago. He’s in his early 20s, and at the time was very naive and optimistic. MFO told him countless success stories and how their students are now closing upwards of 60 or more transactions a year. Sure enough, my friend signed up for the classes. When he was laid off from work he started running out of money, but he faithfully continued to pay them and implemented their teachings. He tried to make any transaction he could. I know he worked hard, he worked 12-16 hour days. I didn’t even get to see him on weekends because he was out there trying to find clients. He did TONS of cold calls, he made his own signs, he ran ads, he called all his friends and family and had them help him.
In the end he made very little, $2000 if I remembered correctly. When he ran out of money to pay Mike Fairy he begged MFO to cancel the contract, they told him no. They made it clear they wanted all their money and they had no concern or care for his situation. Repeatedly he emphasized that he had no money left, no steady job, he was barely afloat, they simply told him he signed a contract and there was no money back and no cancellation. They called collections on him and threatened to take him to court.
Before you consider MFO, just do a simple google search on this organization. You’ll get mostly complaints and stories about how people have been scammed and threatened out of their money. And on each of these threads you’ll conveniently find one or two posters who defend MFO saying they’ve made several hundred thousand or million. I wonder if Mike ever has his employees do a google search and write positive comments to defend him. Maybe, maybe not, use common sense here.
I’m not saying the MFO success stories are all lies, I’m sure some really have made millions and work part time. Just remember 90% of real estate agents fail, 5% squeak by and 3% do well and 2% are super rich.
Last note – besides being a hard worker, my friend has been doing cold calls for several cellular phone industries and has even won Best Salesman of the Month in his state. So I highly doubt it was user error in his case.
Derek
January 26, 2010 at 1:59 am
Comments like the above are absolutely ridiculous and pretty pathetic especially coming from a 3rd party nonetheless. Let me get this straight.Your friend knowingly and willingly signed a contract with MFO on his own accord for a specified amount of time for a specified monthly amount,defaulted and then asked and begged to be released because he ran out of money and MFO is the bad guy ? Am I missing something here? No I’m not the fact of the matter is that your friend made committment he couldnt keep and is being held accountable as he should be and as anyone should be that agrees to terms and conditions set forth in a business deal.
You spreading lies about MFO is complete BS and your story sounds completely fake.There are actually not many complaints at all considering how big their client base is and the complants are usually from people with the same lame story your spouting about with your hard working friend that can’t pay his bill or make good on his committments,
I have been a customer for over a year and have not regretted it one bit. I have been very successful because of what I’ve learned from various MFO programs and will continue using their services for the rest of my real estate career. I have been more than satisfied from the beginning. I’m not an employee of MFO just a very happy client that is very grateful that a company such as MFO exists for Realtors that want to actually go out an work to make it happen
Jacob Fentis
January 27, 2010 at 5:25 am
Right off the bat, I’m not spreading lies. Thanks buddy. Anyone who wants can go google this sham job called MFO and find a ton of complaints. For the lucky few, such as yourself D-rock, MFO works. Congrats. As you read my post you’ll see that unlike you I don’t need to label people as “lame” or “pathetic” as you did in your post.
Now lets get into this…Derek you actually did miss the point and no my story is not completely or even remotely fake.
First off, the statement you made at the end about MFO existing for people who ACTUALLY go out and work is not accurate. You don’t have to believe me, and I won’t try to prove it too much. But my friend did work 12-16 hour days trying to make this work. Sure there were days he only did 10 hours.
Second, yes lets get this straight about the contract. There was a lot of motivation coming from MFO, it was NOT just him willingly and knowingly signing a contract. My friend signed a contract after being told countless success stories and possibilities of making upwards of 60 transactions a year. He was young, naive and new to the business. He didn’t make a smart move, I’ll put that right out there. If it were me, I would think twice about investing $12,000 and a year of my life into any effort. But they had him so gung-ho about this by the end of their MFO pep rally he signed up no questions asked.
You try to make my friend sound like a dead beat…but the guy continued to pay month after month even though he saw no financial gain from all his efforts. In the end, paying for his rent, food and MFO destroyed his savings. That was when he asked/begged to have them let him go. Derek I really hope that you’re put in the same situation some day where you have no money and someone says “hey I don’t care you signed a contract, keep paying me”. Then you can describe yourself in the same wonderful way you’ve described my friend.
If you’ve got the info, why don’t you let us know how many complaints vs. total amount of people using the MFO system.
Take care “Derek”.
Derek
January 30, 2010 at 8:17 pm
Your story is full of holes and LIES!
I did google MFO complaints and there is all but a handful. GET Real and all of them are very very WEAK to say the least and are again full of unproven lies especially the one stating he was at an MFO seminar in April 2009 hosted by Bob Fitzgerald… Oh Really? He left MFO in I believe 2006 and started his own coaching company which is awesome in its own right.
Out of thousands of Realtors being coached or using MFO materials and with only a few weak complaints on the internet is actually proof of how good a company MFO actually is and I can speak from my own 1st hand accounts in dealing with them numerous times I was always treated 1st class and have learned a ton of great thoings that have helped me tremendously. They have been offering tried and proven products for over 30 years and their proven track record with Realtors speaks for itself.
Your 3rd party sob story and complaints are garbage and should not be acknowledged by anyone with the littlest of common sense IMO. If your friend was working 16 hour days in Real Estate as you say for a year and only made $2000 dollars I’d say the problem lies elsewhere other than MFO thats for sure. Nobody made him sign or enter the agreement he made with MFO except himself and people need to stop blaming others especially thru 3rd parties and take responsibility for their commitments if they cannot honor them.
nate secor
February 9, 2010 at 11:00 pm
I am not so sure about your beef. I am a student (disclosure) and I have been to many trainings. The sign up part is usually Matthew stating “we will hold you to the contract no matter what, including court”. IN fact, being a coach in a different program, we call that throwing your hat over the wall, not knowing how you will go get it. People resist techniques, and MFO cannot make a difference if you quit after 1 session. I do not find Mike to be attached to anyone joining. To me he occurs more like a big rock standing in his position, unwilling to move for anyone or anything. Sometimes the program pisses me off, and I have a choice. I can see it as corporate america gone wrong, or a coaching program telling me to get over myself and get the *#@* to work. That is to much to take for most because most are not coachable.
Past MFO Client
May 21, 2010 at 9:53 am
I joined MFO one-on-one, the Daily Conversations with the Superstars, their elite Top Producer program and a few others with the expectations that I would receive what I was paying for under the terms that I agreed to. Part of the conditions was that my assistant be allowed to attend the events under my contract which was granted. It wasn’t very long before MFO had an internal policy change and informed me that my son and assistant would no longer be able to attend even if we paid. I requested that my contract be terminated since they changed the contract and they refused to do so. Then when the MFO program was not working for us as implementing it actually was costing us money by not allowing us to do the business we used to do as we were spending our time and money on the MFO program they totally ignored all our requests. Our business was down over 50%. In addition, during this time I constantly had to call MFO to get the items that I was promised as part of their program(s). Some months I would receive them others I would not. Some months I wouldn’t get charged, and other months they would double charge my CC above making up for their over-site and then I would have to fight them to get credited back. Finally I had to remove my credit card from them and for three or four additional months MFO still changed my CC even though their rights to do so were revoked and withdrawn in writing! Finally, I cancelled my last contract with them two months short of expiration and they threatened to take me to collections. In 1/09 MFO offered to settle for $600.00 for the the $2000.00 they claimed they were owed and I paid them with a cashiers check, verified with their accounting person she received it and exchanged a fax from me to her that they received it.. Then 9 months later they called and claimed they never received the payment and said I owed the full $2000.00. Since then I have tried to contact both Mike and Sabrina (Mike’s wife and president) and all calls and emails have gone unanswered, I have emailed, written and called plus offered to pay them more just to end this and they have now sent this matter to 3 collection companies and an attorney. It seems the only calls I get are from the MFO collection department which clearly is a full fledged collection agency who will not let you speak to anyone other then the first line collections person who is rude, inconsiderate and hangs up on you after making threats etc….
From what I have been told Mike is down from 70 coaches to less than 20 and many of the great coaches that made MFO coaching great are coaching on their own now so there are some great coaching being offered without have to go thru this kind of customer service.
This is truly a bad situation because I liked Mike and his coaches and I believed in his system. However, from the start I received nothing but bad customer service and their admin is the worst I have ever seen. I found this odd as Mike appears to be so on top of things or so it seems.
Bill Stevenson
July 12, 2010 at 11:55 am
I have been involved in coaching with MFO since 1987. I use some of the scripts and products and have paid MFO tens of thousands of dollars for their services. When the market was good and we had sufficient funds to pay for MFO coaching the relationship was fine. In 2008 I signed up for my third year of coaching but I told the staff at the event (in LA) that I wasn’t sure if I would be able to commit to twelve more months at $1,000 per month because the market was very soft and business was slow. MFO coaches at the event assured me that coaching was exactly what I needed. They assured me it would be fine so I signed up and paid the $1,000 deposit and continued for 3 more months before funds were too low to continue. I sent MFO a cancellation; in writing as specified and I received a call from MFO stating I couldn’t cancel until I am one month behind in payments. I took no more coaching calls out of respect for the coaches after all, I wasn’t able to pay. One month later I called to let them know I canceled and I thought we were finished. I was WRONG, I received one telephone call from a smart ass in their A/R department about nine months later, demanding the balance of the funds due from the cancelled contract. I said I thought we were square, I cancelled as the contract stipulates. MFO passed the debt to a collection agency (after spending over $30,000 with MFO over the years) and just today (July 11, 2010) received a SUMMONS from none other than MFO.
Thanks Mike, thanks Sabrina I hope you guys are happy. I will MAKE SURE I tell EVERY REAL ESTATE agent I come into contact with about our experience.
My suggestion is to NOT GET INVOLVED WITH MFO because if you can’t pay, you will be sued. If they treat a good customer this way, how do you think they will treat a new customer? I am really disappointed with MFO, I cannot recommend them.
Shannon
July 12, 2010 at 4:45 pm
WOW all of you are complaining about paying monthly bills for services you already agreed to. TAKE RESPONSIBILITY for the contract that YOU signed. Do not be ignorant children! If you could not afford the program you should not have signed up for the coaching. Stop trying to weasel out of your obligations like too many people today do. Show that you have some integrity, be a grown up, pay your bills, and get over it!!!!!!! Maybe if you did you would be half as successful as Mike.
DO NOT SIGN THE CONTRACT
November 5, 2010 at 9:04 am
DO NOT SIGN MIKE FERRYS ONE ON ONE CONTRACT OR FOR THAT MATTER ANY OF THEIR CONTRACTS.
GOD FORBID THAT YOU MISS ONE PAYMENT OR HAVE A TOUGH YEAR, THEY WILL COME AFTER YOU. THEY WILL, EMAIL YOU, THEY WILL CALL YOU LIKE A CREDITOR, RECORDING THAT YOU MISSED A PAYMENT, MIKE FERRYS OFFICE WILL STATE IN THEIR EMAIL OR MATERIALS THAT THEY WILL SUE YOU INCLUDING FOR ATTORNEY FEES.
YOU MAKE THE CALL, THEIR ARE SOME MANY REAL ESTATE COACH AND EXPERT OUT THEIR.
TIMES ARE TOUGH OUT THERE, KNOW ONE THING MIKE FERRY’S OFFICE DOESNT CARE THAT YOU CAN’T FEED YOUR FAMILY OR YOUR HAVING A TOUGH YEAR. HIS STANDARD ANSWER IS GET TO WORK. AND PAY ME.
OH, AND IS BLONDE BIMBO, PAY US OR ELSE.
SO, CAN YOU TELL IM A LITTLE PISS OFF, AT THEM.
DO NOT SIGN THE CONTRACT
November 5, 2010 at 10:08 am
THIS MESSAGE IS FOR ALL OF YOU THAT NEVER FELL ON YOUR FACE.
THE POINT IS DON’T KICK SOMEONE WHILE THEIR DOWN, LET THEM COME BACK TO FIGHT ANOTHER DAY. EVERYBODY FALLS ON THEIR FACE AND HAS TOUGH TIMES, AND IF YOU HAVEN’T, THEN YOUR THE EXCEPTION AND I HOPE YOU NEVER HAVE TO EXPERIENCE IT.
EVERYONE IS A PERSON, YEAH, YEAH SUCK IT UP. I HEARD IT. SO SHUT UP AND LISTEN. EVERYONE HAS FAMILIES, CHILDREN AND SOME KIND OF PRIDE.
WHEN A MAN IS DOWN, HE IS ALREADY DEMORALIZED, BY NOT BEING ABLE TO SUPPORT THEMSELVES AND THEIR FAMILY.
THE POINT IS WHEN YOU SIGN A CONTRACT. MIKE FERRY’S STAFF SHOULD SAY, ” HEY, IF YOU DON’T PAY US AND WE DON’T CARE IF YOU PAID US $10,000 OR $100,000 BEFORE YOU MISSED YOUR PAYMENT, WE WILL SUE YOU AND MAKE YOU PAY ATTORNEY FEES”. NOW….. PLEASE SIGN THE CONTRACT.
IF YOU SIGN THE CONTRACT, THEN MAN UP!!!! IM OK WITH THAT!!!
DO NOT SIGN ANY MFO CONTRACTS
December 1, 2010 at 1:42 pm
The Mike Ferry Organization is suspending the services it agreed to provide you under the Contract that you signed which stated that; “In the event of a default in payment of any installment due, all services and privileges shall be suspended and I shall nevertheless remain liable for the full contract price, which shall become immediately due and payable in full. I agree to pay all attorney’s fees, costs and expenses incurred in the enforcement of this agreement or in collecting payment due under this contract.”
Should you fail to remit payment due or fail to resume regular payments for the remainder of the Contract period, The Mike Ferry Organization shall have no choice but to proceed with actions to collect its payment, including filing suit. In the event that The Mike Ferry Organization must take further action, it shall enforce its rights to collect all costs of doing so, including attorneys’ fees.
Please contact Se’Rita Covarrubias in our Collections Department at 1-800-448-0647 or via e-mail at serita.covarrubias@mikeferry.com.
Thank you in advance for your prompt attention to this matter.
Sincerely,
The Mike Ferry Organization
Accounting Department
Past MFO sucker
December 14, 2010 at 4:55 pm
If Mike Ferry’s son, Tom Ferry, can’t work with his own father, do you think you should?
I recently searched the DRE records for Mike Ferry. After all, he claims to have been a top salesman in the business for several years. On 3/12/1973 a Michael David Ferry was issued license 00448718, the license expired on 3/11/1977. I find it interesting that someone who worked in the field of real estate sales for just 4 years is able to sell his methods, which were developed over his career to individuals and companies who believe in his system and think it works so well. My wife was in the business in the 1980s and took some Mike Ferry classes. I recently took several classes with Mike Ferry between 2004 and 2006. Comparing the material over the 20 years it appears that the program hasn’t changed much. Mike’s plan appears to be that if the worked in the past it will continue to work in the future. My business partner and I had signed up for weekly coaching sessions which were quite repetitive and very basic. We complained and had been recording all of the sessions and proved that the sessions were in fact near copies of each other with very little if any new information in each session and received a cancellation of the contract and refunds. This method of repetition extends the period of time required to complete the Mike Ferry course. With due diligence, well-written material and in forms instructors the material could be learned within 6 to 8 weeks. Stretching the courses the way the Ferry organization does creates a continuing income stream and a need for fewer and fewer students.
We felt that program was a total scam and that it appealed to a less educated ill informed segment of the brokerage community. Mike actually brought on stage one of his students who claim to be making many millions of dollars per year. This individual was an illegal immigrant who had lived in a cave in Mexico, then came to this country and admitted in front of packed crowd that he paid for the documentation required to establish him as a legal immigrant. He claimed to never leave his office, never see the properties he is selling and never does CMA’s to establish value. To deals strictly in the Hispanic community and builds trust by speaking the client’s language. He claims to have never been sued due to the fact that his clients are frightened of the US legal system and possible deportation and does not care about the real value of the property just what he can get for it, financing for the buyers, because the broker deals with primarily Hispanic lenders and appraisers and the number always comes in.
This is definitely not the type of organization any good broker or salesperson should be involved with.
During one of the classes I took with Mike he was very happy to inform us that he would soon be getting his own private jet. To me this was saying I’m making my money on the backs of realtors not as a realtor just do as I tell you and keep on sending me your money.
There are many other real estate coaches out there who will work with you and teach you to do the business for a lot less money, without high-pressure sales, and the understanding that the market is changing and people can’t afford $1,000 a month, especially when that’s going to fuel Mike’s jet.
In my opinion Mike is a pompous, self affected, braggart with very high self-esteem who looks down at other people, not at them. To Mike you represent cash flow, he could not care less if you succeeded or failed just that you paid him.
ANDY8374
October 18, 2012 at 3:52 pm
Do NOT sign up for Mike Ferry program. They will not give you a chance to try their product as they have no cancellation clause. I tried numerous times to cancel and they will not listen. They go after you with collection agencies and report on your credit report. I only owed them $600 and my credit score dropped 50 points due to their one collection. The product is of poor quality and sounds likes a high priced telemarker when its all about cold calling. Listen…people dont’ want to hear your sales pitch on the phone with many others doing the same thing. The best way is the old fashion way…referrals and direct mailing/networking. I regret giving them a chance as they have no satisfaction guarantee policy. I have been a top producer for Remax for over 10 years so they will tell you that the negative reviews are agents who have performed poorly for many reason. Not true!!