The changing world has led to a revolution in the real estate industry, with investors increasingly focusing on the thriving co-living and co-working sectors, particularly among younger demographics, due to their unique opportunities and innovations.
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As much as 70% of the US economy is from consumer spending. As such, declining retail sales can be alarming, and could indicate several things about the health of the…
The real estate market, like any other industry, is influenced by various factors that drive innovation. Primary drivers of innovation in the real estate market include: Technological Advancements Technology plays…
Have you heard the phrase "old economy" and wondered what it means? The term "old economy" generally refers to traditional or established industries and sectors that have been predominant in…
Demographics, which include age groups, population growth, and migration, have a significant impact on societies. Understanding how demographics relate to innovation is fascinating. Today, we're looking at the connection between…
Immigration has been a controversial topic for decades, with many debates centering around its impact on the economy. While opinions may vary, there is a growing body of evidence that…
China's population collapse, brought on by the country's decades-long one-child policy, is expected to have a significant impact on the world economy. The policy was introduced in 1979 to control…
OPEC, the Organization of the Petroleum Exporting Countries, has a significant impact on the global economy. This includes real estate markets. Any changes in OPEC's policies or production levels can…
The aging of the baby boomer generation will affect various aspects of the economy, including real estate markets. The baby boomers, who were born between 1946 and 1964, have been…
There are so many products and classes out there. If you don't have any formal training, it can be daunting. You have a passion for helping others and for doing deals, but don't know where to go from here.
That's ok! Everyone starts somewhere, and there's lots to learn even for experienced pros. In fact, the people who make this a full time gig are constantly learning, seeking out new strategies and comparing notes with other operators.
If you are brand new to real estate, I have good news. There are a variety of resources on this site that can take you to the next level.
The reality is that education breeds success. The people who do deals know what they are doing - or at least have carved out a niche and become an expert in that space. That's the key: becoming a subject matter expert to whom everyone turns. You don't need to be the real estate guru in all things real estate. Pick an area that you enjoy and learn everything you can about that area. Once you are fully proficient and have some revenue stream coming in, pick another area and add it to your tool belt.
When I started in 2006, the market was peaking, and it wouldn't be long before it started to slide into recession. No one had heard of short sales before, and few people had any expertise. People were getting stuck with ARMs with interest rate resets that they couldn't afford. Property values were beginning to slide, and people didn't know what to do. Enter me.
The short sale market took off, and I quickly became the go-to person. Real estate agents were calling me up in droves begging me to help with their transactions so they could survive. I would do 1-2 marketing events and would have 30 new deals in days. Pretty soon I wasn't marketing at all, and had to hire 3 more staff. You see? That's how it works.
You too can develop your own niche and expertise. Whether you are a real estate agent, a wholesaler or a rehabber, or perhaps some combination, we have something here for you. You NEED TO POSITION YOURSELF for success! Don't get caught not knowing what to do when someone calls. Imagine a potential client or seller asking a question and you bumbling around for an answer....any answer! That would be humiliating, and almost certainly kill your deal. People can smell incompetence a mile away. Get yourself up to speed on the marketing, legal and business techniques that will set you apart from the competition today!
What are you waiting for?
The biggest hindrance to taking action is usually fear: fear of the unknown, fear of failure, fear of social disapproval if you look bad. Let's just take all of that off the table. If you want to be successful and take your business to the next level, even if that is level 1 (!), you have to take a step forward. It can be a baby step, but it is some sort of action. And it requires a bit of risk....but risk is just another word for uncertain outcome. It doesn't need to trigger fear. You take a step forward, see what happens, and then take another step - even if it is in a slightly different direction. That's how life works: we are constantly doing things, adjusting, and making another move.
There is no reason to believe that you can't do this. In fact, let's just proclaim it! Repeat after me: "I can do this!" "I want to do this!" "I AM GOING TO DO THIS!" (3x works even better for stomping out the fear.) Take back some control in your life and make a decision today that things will be different.
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