Are We Really In The Real Estate Business??

Ok…..yes I know this blog is all about the real estate business, but the question every real estate investor needs to ask themselves is the title to this article;

Are we really in the Real Estate business?

And the answer that should immediately pop into your head yes….I mean no…..I mean sort of. All kidding aside the reality is we are in the real estate business, but knowing about actual real estate is secondary to a couple other very important skills that you must posses if you want to experience sustained success. Most investors think that if they learn everything that they can about real estate investing strategies through courses, infomercials and seminars they will be a successful investor, but the truth is learning about actual real estate is only a small piece of the much larger puzzle to find success in this business. So what should I be learning about in order to help ensure I achieve massive success as a real estate investor? Well keep reading this article and you will find out what most GURU’s won’t tell you…..

The number 1 most important skill set that you need to have in order to be hugely successful in the Real Estate business is MARKETING! You see most investors have been spoiled over the past couple years by just being able to buy deals off the MLS or at foreclosure auctions that make them money. The days of being able to easily snag deals through these two strategies is starting to come to an end…..and quickly might I add. The number of foreclosures are decreasing and the number of investors getting into the game using these strategies is increasing dramatically, so this means if you want to continue to be successful in this business you will need to learn how to effectively market your business to motivated sellers! Marketing is one skill that very few real estate investors actually spend much time mastering (mainly because very few GURU’s sell courses about it), but they absolutely should! If you spent as much time trying to learn about marketing as you do learning about the next greatest real estate investing strategy that the online GURU’s are pushing to your inbox, you would be spending your time much more wisely! Once you learn how to effectively market for motivated sellers you will have a skill that allows you to write your own paycheck at will…..and that is the key to achieving financial freedom. If you can set up a marketing systems that constantly deliver your business motivated seller leads, you are pretty much creating a personal ATM with an unlimited supply of cash for yourself! I have built this type of system for myself and from scratch…….so I know its possible for anyone to do it once they posses the right education.

The 2nd most important thing that you must learn to be successful in the real estate biz is people skills! Now this is a skill that some people are just born better at than others, but that doesn’t mean just because you suck now at sales and people skills that you can’t improve yourself! I used to be very reserved and shy when I was younger, which doesn’t lend itself to being very good at talking with complete strangers and selling them on your company’s services. Fortunately (although I didn’t see it this way at the time) I took a job right out of college that was commission only……which meant I needed to learn how to flap my gums quick if I wanted to actually make any money and not have to live off of top romen. Eventually I did get a lot better at talking with people and honing my sales skills which ultimately has had a HUGE impact on the success I have achieved in the real estate investment business.

Now if you have just been buying deals off the MLS or at foreclosure auctions then you are probably saying to yourself “what the hell do I need to be able to talk to strangers for?”. Well the reality is if you are only buying houses off the MLS or at foreclosure auctions then you don’t really need to have good people skills. The fact is a lot of the real estate investors who buy houses only through these avenues are deathly afraid to talk with motivated sellers (or are just really really bad at it)…..which is part of the reason why they only¬† buy properties where the human element is non-existent. Now although I do suggest you try and purchase properties both off the MLS and at auctions (in addition to other strategies), the truth is it really doesn’t make you a “real” real estate investor to just be purchasing properties from those sources. It does make you an opportunist who is taking action (which is good) using the path of least resistance, but to achieve sustained success and rise above your competition you will eventually need to step outside your comfort zone, build an actual marketing machine and talk with motivated sellers directly! Once you take this step and build your own marketing funnel you soon realize how much more opportunity there is in this great business for those who treat it like one.

I can remember some of the first motivated seller appointments that I went to early on in my career……and to be honest I sucked real bad at connecting with the sellers and putting together a deal. But over time and with a lot of practice I am now extremely comfortable meeting with and talking to just about any kind of motivated seller. By having this skill set it has allowed me to beat out my competition over and over again when dealing directly with motivated sellers! In fact its not unusual for me to get a deal over my competition even when I am offering less money (which happens quite frequently), and the sole reason for that is because I have better people and sales skills.

So lets circle back around and really hit the key points of this article before signing off……If you haven’t started to learn everything you can about marketing then you need to get started ASAP! In addition make sure to study “direct response” marketing more than anything else, since that is mainly the type of marketing you should be using as a small Real Estate Investment business. Next you need to constantly be improving your people and sales skills so that you are comfortable and confident talking with motivated sellers, which will ultimately help you to crush any competition that you may have! Motivated Sellers first need to know who you are and what your company can offer them, but then its your job to make them want to do business with you! I hope this article at least gets you to start to see this business for what it really is…..marketing & people…..and then real estate last, not the other way around!

Speak Your Mind

*

Subscribe to The MIM Newsletter And Receive The First Chapter of The REO Blueprint Absolutely Free!!