I’m sure you’ve seen a ton of blogs that talk about using a bunch of different tactics to help with your real estate marketing. But if I can borrow a line from Saturday Night Live…Really???
C’mon, let’s be serious. To make money in real estate you need two things and ONLY two things:
1. Deals To Buy and
2. Cash buyers to sell to.
Sorry to rain on anybody’s parade but that’s all you need. You see, I consider myself to be a marketing guy. I have been marketing for over 30 years. And at one time I got sucked into the vortex of bullshit that is being perpetrated by so many people.
That is until I was enlightened by a guy named Frank Kern who so eloquently stated the one true principle in marketing. (watch the video)
Find out what people want, and then sell it to them!
If I was selling hot dogs, I would find the people who want hot dogs and I would let them know I have the best damn hot dogs in town.
But I guess where people get stuck is in finding the people who want their hot dogs. So they read all the blogs and listen to all the gurus and waste their time on all of the cool time sucks being pushed upon everyone.
You know what I mean..I’m talking about Facebook and Twitter and a half a dozen other completely useless black holes. Now don’t get me wrong. If you want friends and want to network and have a lot of idle time, then Social Media is great. But if you actually want to make money…and I’m not talking about one sale per year, you have to market correctly.
Do you know what the Pareto Principle is? Well this Italian dude said that the wealthy know that 20% of their efforts account for 80% of their income while the other 80% of what they do only accounts for 20% of their income. With that knowledge, business people for the last 100 years have been trying to instill into the mind sof entrepreneurs that you need to focus on the 20% that makes you money. It’s that simple!
It’s only in the last couple of years have people been pushing you to focus on the stuff that doesn’t make you any money. What would happen if you focused your efforts solely on those activities that make you money? Think your income would be higher? Think you would have a lot more free time? I think so!
Before you start talking to me about branding, which is something entirely different, that most never understand…I’m not talking about branding. I’m specifically talking about those activities that directly actually make you money.
In real estate, and specifically real estate investing, you need inventory and buyers. That’s it. You don’t need a brand, you don’t need friends, you don’t need followers and you definitely don’t need points…you guys on Active Rain…that’s for you. I’ll say it again…you only need two things. Deals to sell and Cash Buyers to buy. And what’s really interesting is you don’t need a lot of either!
If you have one or two of each you’re going to be making 5 figures per month. So tell me this…why would you be spending anytime tweeting or facebooking?
Like Frank said…find out what people want and sell it to them and then to make more money, sell them some more!
That’s the key and it works great for Real estate investing. Find a couple of buyers who want deals, find them the deals and keep selling them the great deals. It’s really that simple.
One of my early mentors told me something that I have never forgot and has always rang true. That being… “find and negotiate good deals and you’ll have no shortage of money to buy them and no shortage of buyers to sell them to.”
For over 20 years this has been the precept under which I have operated and it still rings true today and you don’t need Facebook, Twitter or any other social media to make it happen.
Just remember, you’re not a Realtor so don’t market as a Realtor. You see Realtors have the problem of always having to find more people, new people, to sell to.
Imagine owning a restaurant where you sell hot dogs and the people who eat hot dogs, who like hot dogs, and even like your hot dog restaurant …only ate a hot dog once every 5 or ten years? You wouldn’t have much of a business would you? That is, if you couldn’t find new hot dog eaters every month.
Now imagine you owned a restaurant that was frequented by just a few people who ate hot dogs all the time and they kept coming back for more. Which restaurant would you want to own?
You see the real estate business is broken and until Realtors change..they’re going to be constantly trying to find new buyer and new sellers. That’s why they call their marketing farming and prospecting. They need to constantly find more and more listings and more and more homebuyers.
Farming?? Really? I mean can you imagine having to nurture and harvest a new crop over and over again? Well you will have to if you follow the Realtor gameplan.
Now let’s say that you actually want to make money in real estate. I mean consistent and stable 5-6 figure dollars each per month. Do you want to know how to generate that kind of money? Okay, here’s the big secret. It’s a bit of an eye opener so make sure you’re sitting down and have a pencil. Ready for it…here it is.
Spend 80% of your time doing the activities that will allow you to sell to the people who want to buy your stuff.
Frame that, put it on your refrigerator or get a tattoo. Do whatever it takes for you to remember that. Then do it over and over and over. Ok…I don’t want you to think I’m being a smart ass but it really is that simple. When you find yourself doing something, ask yourself immediately, will this help me meet my objective of finding a deal or finding a buyer.
If you can’t successfully answer that question then don’t do it. You have to understand that we have a very defined market. We sell homes as commodities to other people who desire to profit on that commodity. It’s not hard to do at all if you know what you’re doing. So here’s what I want you to do.
1. Download the PDF below called Target Practice by clicking on the image below and then
2. Complete the Questions and the Exercises In The PDF
In a few days I’ll post another video and we’ll move forward with showing you how to concentrate on real estate marketing that actually works.
If you think that this won’t work, then move on. I’m not looking to work with someone who isn’t committed to making money in real estate and as Pareto said, I only want to spend my time on those things that make me money.
If you are not committed to succeeding then you are unfortunately in the 80% of things that I kick to the curb!
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Barry& Barry has done it again. You guy cut through the bull, and talk straight. Thanks for info, it is worth its weight in gold…..
Markus..we’re glad you like it. This business isn’t hard and you can really make great money if you know what you are doing. We’ve learned a lot over the years from both successes and failures and we want to make sure we tell you the straight scoop so that you have many more ups than downs!