A Passion For Real Estate

It doesn’t matter if you want to sell real estate or buy real estate, be an agent or appraiser, purchase a townhouse or add on a den, run a huge real estate company or operate out of your tiny one-car garage, or be someone who just likes reading the words “real estate!” You got to do it with passion. House hunting can’t be a lazy thing. House selling certainly not, either. Even if you’re selling a young couple a dirt-cheap fixer-upper. To them, it may be their very first home and the thing that new marriages and happy dreams are made of. To them, that run-down piece-of-junk first house is a palace. And no one lives in a palace without passion!

The father of philosophy, Mr. Aristotle, once remarked, “Whereas the law is passionless, passion must ever sway the heart of man.” And truer words were never spoken about real estate and the real estate market. Most of all: the real estate profession. You don’t find houses to sell. You find potential buyers–people–to sell houses to. Not the house you want to sell to them. But the house they want sold to them! When it’s done this way then everyone is happy. For success doesn’t just breed success. Success should breed happiness. If you’re an unhappy real estate agent then it just very well could be because you’re not making happy buyers. It has nothing to do with finding happy buyers. It’s making buyers happy.

And this brings me back to the word passion, and to what the 18th Century French philosophy Denis Diderot once said. If you don’t remember the now not-to-famous Denis, that’s okay. But try to remember these words: “Only passions, great passions, can elevate the soul to great things.” If you aspire to become a great real estate salesman or find yourself longing to purchase a great house to live in, then be passionate about it.

Forget about the real estate deal you have no passion for. And by all means, don’t buy a home or piece of property you feel passionless about. Or work with someone who is clearly a dispassionate buyer or seller. Even in today’s tough real estate market both seller and buyer can come away feeling happy in their dealing and in the ending deal. You must go in with passion, work it with passion, and be passionate about the business as you are about your personal life.

This is what breeds success and happiness. PASSION! Mr. Aristotle certainly knew it. Over 23 hundred years ago. And if he could sell the whole world on subjects like logic and reason, imagine how things would have gone if he had gotten into real estate. It would have been he who conquered the known world back in 4th Century B.C. Not that passionate-about-drinking-wine partying guy and soldier-boy-turned-general named er…oh yeah, Alexander!

Your Real Estate Marketing Niche

Starting in real estate often means being the “jack of all trades” in the area. Your expertise becomes anything related to real estate, whether it be listing homes, selling homes, or maybe even doing a home loan. Your real estate career gets even more clouded as you get involved with the different types of real estate from condos, homes, land, multi-units or maybe even stretching to commercial. Performing this many real estate tasks is a juggling act that very few agents ever survive.

In order to close business every month, have a life, and experience the big rewards it becomes necessary to specialize in a in a niche of real estate. Before we can examine the benefits of specialization let’s examine the fears that many people have about selecting a niche:

  • I will lose business by specializing
  • There aren’t enough transactions for me to specialize
  • I don’t know enough about anything in real estate to specialize

These are all common fears to experience before selecting a niche to specialize in and dominate. As you are considering your niche, I invite you to consider the following question:

If you had a possibly fatal heart condition and you were looking for a Doctor to help you, which Doctor would you select?

A) The Doctor who is a Podiatrist, Pediatrician, and a Cardiologist

Or

B) The best Cardiologist in your state

For most they would select “B” because that Doctor would have handled more conditions than the “A” Doctor. She would have the experience, have run into more problems, have solved more cases and would have to be the absolute best in order to make a living in just one area of medicine.

So, by selecting a niche are you turning away business or are you inviting more of your niche than you ever could imagine?

Selecting your real estate marketing niche will bring you a flood of business for that niche. In order to demonstrate your expertise in a particular area, it doesn’t take shouting from the treetops that you are the “expert”. Here are some methods that you can do to demonstrate your expertise in a niche and start bringing in more of the business:

  • Write articles – Write articles about the type of real estate product that you have a passion for. For example if your passion is condos write articles about home owners associations, selecting a community, and even choosing the right floor plan.
  • Contribute on forums – There are often community forums where local residents bring up questions about communities or their local city. Participate in these forums (without directly asking for business) and answer questions.
  • Attend community events- This can range from attending a local board meeting of home owners to having a small booth at a farmers market. Wherever you attend make sure it is complimentary to your niche.

There are many different ways to share your expertise in order to bring in more business. The first big step is just committing yourself to real estate marketing in the niche where you have the most passion. To your success.

10 Ways to Maximize Your Performance As a Real Estate Investor

Now, this is not a scientific study. I did not go out and survey 5,000 real estate investors and determine who were successful and who were not and then look at the characteristics that shape their success (or lack thereof). This is based on years of personal investing experience and what we have learned from other successful real estate investors.

If you lack these traits (or characteristics), there is a good chance you will under-perform as a real estate investor. You don’t have to have ALL of these, but the more you have, the more likely you will be highly successful.

  1. Passion – I feel strongly that if you have passion, real passion about real estate (and investing in it), you will perform better than if you don’t. We know quite a few investors that are not passionate about real estate that have been successful but they feel worn out and want to leave the business. The only reason they don’t leave is because it’s making them money… but they aren’t having fun and they aren’t making as much money as they would (I think) if they were passionate about it. Besides, why spend so much time, energy, focus, and money on something you don’t love? Life is too short!
  2. Mental strength – There are so many times where you may want to just give up because you’re doing so much heavy lifting mentally. Challenges like insurance issues, and property financing troubles, and tenant challenges are part of the business of real estate investing – be strong and you’ll do well. And by the way – the more physically fit you are – the better you’ll perform mentally. That’s a fact that has been proven by scientific study.
  3. Belief – No one, and I mean no one will (or should) believe in you as much as you do. If you don’t really believe that you can be a successful real estate investor, then you may as well stop trying. There will be times when it seems like you are the only one that believes in what you’re trying to do so you have to be there for yourself! You should also surround yourself with folks that believe in and support you… but that’s a different point.
  4. Guts – You have to be willing to go the opposite direction from the rest of the people you know. You have to be able to make your own decisions and have the guts to take action on them. This is not an easy thing to do especially when you first start out. And, to continue and advance as an investor you will still need guts to try new real estate strategies and techniques.
  5. Integrity – Sadly, I have met many folks who have become successful without integrity but I believe that their success is likely only financial. I am confident they don’t have the relationships nor the personal satisfaction that comes with doing business with integrity. Doing business in a way that treats everyone with respect in turn makes you easier to respect and like… and makes it easier to attract the folks that will help you grow your business.
  6. Focus – This is probably the most underrated trait or action for becoming successful. If you lack focus, it is still possible to become successful. Heck, over the years I have had trouble staying focused but I have still performed fairly well in the REI game. But, my lack of focus has certainly played an important role in keeping me from reaching my full potential. And, the best part about focus, along with most of these other traits is you can learn it/them!
  7. Communication – If you dislike talking to people, emailing, or just all around don’t communicate well with others, good luck performing and being successful with real estate. You have to communicate constantly with realtors, mortgage brokers, banks, accountants, lawyers, vendors, buyers, tenants, appraisers, inspectors, contractors, the list goes on and on. If you aren’t at least somewhat effective at not only getting your point across but also being a good listener and understanding others, forget about being in the REI game.
  8. Hustle – Lining up your joint venture partners, obtaining financing, managing all the appraisers, inspectors, realtors, placing and showing tenants the property all require a large amount of hustle. Sure, you don’t need to hustle 365 days a year to perform well, but you sure better be able to hustle every time a deal starts to come together!
  9. Commitment – Are you committed? Really committed to being an amazing investor? Are you making it a priority everyday that you do something that will move you towards your goal of being a real estate millionaire? Now, you don’t have to do something everyday, but your level of commitment is directly related to becoming better, stronger, faster, smarter, and wealthier. No commitment = Little to no payoff.
  10. Persistent – In my humble opinion, this is absolutely the most critical reason why some real estate investors under-perform. If you want to succeed in this business, you HAVE to be persistent. You will find the best deals by continuously following up on opportunities. You will secure the best financing by continuously trying to find a better option. If your partner backs out at the last minute you have to pick up that phone again and again until you find a new partner. Keep trying, keep pushing, keep being persistent. Do not give up.

Sure, there are likely several more traits that you need to have to rise to the top of the real estate investing pile, but if you have most (or all) of the above, you have a very good chance… in fact I would say you’re darn near guaranteed… to become a successful real estate investor.

Luxury Real Estate Marketing: Tapping Into Your Passion

The alignment of your wavelength with the wavelength of your ideal clients takes all of the effort out of marketing because you do not need salesmanship to convince them that you are a match. Precisely communicating your unique, authentic personal brand signal with laser-like clarity to a like-minded audience is the surest way to attract new business, to spontaneously spark word-of-mouth advertising, and also to generate unlimited referrals.

By far, the best channel, system, vehicle or medium of communication to reach other people like you who will like you because you are like them, is through your blog. To be a market leader today, you must gain visibility, you must be seen where your target market shows up, which now is on the internet. It may take some getting used to, but the surest way to achieve top-of-mind status in your marketplace right now is to fully embrace this communication medium.

Here are the three biggest challenges of developing your personal brand as a blogger:

Challenge #1:

The first challenge of creating your personal brand is to identify an uncontested market niche that you can passionately dominant as an expert blogger. The fierce competition for attention on the internet now makes it an imperative to create a personal brand as a blogger, one that enables you to instantly stand out from your competition.

Challenge #2:

The second challenge of personal branding is crafting your marketing message. Your message (expressed through graphics, text, photos and video) must concisely convey your unique, authentic personality and your extraordinary promise of value. Your message must be delivered precisely and swiftly. That is the true measurement of an effective personal brand.

Challenge #3:

The third challenge of personal branding is consistency. You must blog consistently to maintain visibility and sustain top of mind status. You must consistently stay on your brand signal and maintain your authenticity.

To triumph over these challenges you must be passionate about your subject. Otherwise, you will lose interest and bore your audience, who will simply unsubscribe. That is why leveraging your passion, your greatest asset, is so important to your success today, as a luxury real estate marketing professional.