Have You Ever Seen A Purple Cow?

As 2008 is now upon us, it is obvious that there has to be substantial change in the housing industry.

There has to be a major paradigm shift. Investor and agent alike have to realize that the old way of doing business is not going to work.

Everyday, there is a story somewhere about sales and prices going down. 

One reason is there are over a million real estate agents, and maybe as many investors who are running the same business model that they have for years.

What was it Einstein reportedly said about doing the same thing over and over and expecting  a different result?

Are we going to do something about it or just wait around to see what is going to happen next. I would rather have some degree of input into my financial destiny. Do you really need a statistician or your broker to see that you need to break from the mold? 

The paralysis of creativity is a very big problem in this ongoing housing crisis. I see so many seminars and books and workshops that cater to the real estate “professional” and they are all pitching the same thing. Ladies, would you go to a party wearing the same dress every other woman was going to be wearing? 

There is nothing extraordinary in the business model of either the real estate agent and the same goes for the real estate investor. 

So again, I ask…have you ever seen a purple cow? If you had I am sure you would remember it. I am sure you would have told your friends, your neighbors, your congregation, your family and just about anybody else who would listen that you had just seen this “remarkable” purple cow. 

What if YOU were a purple cow? Do you think people would tell others about you? What if your product was a purple cow, do you think there would be interest in its “remarkability”? (yeah..I know it’s not a word..but it is now) 

I have seen a purple cow and so have you. You see a purple cow is a metaphor for a business or product that is remarkable in its creativity and standing. Some stay remarkable, while others fade into mediocrity.

TBS at one time was quite remarkable. McDonald’s at one time was remarkable. Jet Blue, AOL, You Tube, Google..all remarkable. The real estate business…wholly unremarkable. There is no distinction, quite ordinary.

Seth Godin, author and uber-marketer wrote a book called,  “Purple Cow: Transform Your Business by Being Remarkable“. In his book Godin suggests that marketing as we have known it, is broken.

The book claims that we have now moved into an era where markets are largely satisfied, and to be noticed a product and its marketing need to be remarkable to be seen at all, let alone to sell. In becoming or creating your own purple cow, Godin has outlined a checklist of sort to allow you to embody the purple cow, as simply copying another purple cow most assuredly turns you into an ordinary brown one standing hopelessly unnoticed in the field.

Step 1: Differentiate your customers. Focus on the ones that matter most. In real estate we are always looking to buy or sell or list everything. Be selective. Work with those clients you can most expect to cooperate and foster your remarkability. by listing everything and hoping for the best you can not possibly do anything remarkable and all those signs with your name on it do just the opposite of what you were taught. It shows that you have a lot of listings that don’t move and that you don’t do anything different or remarkable for any of your clients. Pick the best, market in an extraordinary manner and be selective. People want most what they can not have.  

Step 2: Pick a Niche and Own It: Don’t try to be everything to everyone.  Be a specialist; be known as the agent who handles properties for recent college graduates. This does not just mean putting more of the alphabet on your business card. It means immersing yourself into the culture of the college grad, not taking a free course at a broker’s office for 2 hours and calling yourself an expert.

Dominate the market. Begin marketing to Seniors who will be graduating and will be getting jobs and moving out on their own. Know what they are looking for in a home, know the amenities, know the areas they will want to live in, understand that every year, in just about every city there are thousands upon thousands of newly graduates who have no idea about real estate. Such an easy niche to cater to if you do so remarkably.

The checklist goes on and it’s very valuable reading. I just wanted to paraphrase a couple of the things I learned from Godin’s book. You are going to see Real Estate Radio USA turn into a big purple cow.

Our blog and our radio show will seek to be remarkable and we want to show you how to be remarkable as well.We don’t want to be ordinary and mediocrity is not an attribute we want associated with our business.

If you get a chance to pick up Godin’s book please do so. Actually read them all. Do what it takes to break from the mold of the ordinary agent or investor.

A direct quote from one of Godin’s articles regarding the purple cow mindset really is quite compelling. Godin writes…”Find things that are “just not done” in your industry, and then go ahead and do them. [Sounds a bit contrarian to me, if I don’t mind me saying so]

Ask, “Why not?” Almost everything you don’t do has no good reason for it. Almost everything you don’t do is the result of fear or inertia or a historical lack of someone asking, “Why not?” 2008 marks a new beginning for some and a continuation of sameness for others.

Isn’t it time to break from conventional wisdom and do something remarkable. Start today. Think of the most outrageous promotions, think of the most eye-popping sales letter or presentation, be as creative financially as possible. Re-create the wheel..seek to make the better mouse-trap. What’s the absolute worst thing that could happen? You’d fail and be where you are, now think of what the upside could be.

We’ll be here to help you along..if you want to be remarkable that is. Gotta run now, going to go have a purple milkshake!

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