What’s the difference between the top real estate investors in [your market] and everyone else?
Were the top real estate investors just born with more business-savvy? Did their daddy give em’ a ton of start-up money? Are they just lucky?
Or are they (gulp) outright better than you?
It’s easy to think that way, isn’t it? That top-performing real estate investors just got lucky, that they had an advantage when they started building their business, one that you don’t have, or that they are simply more capable and confident than you…
…meaning you don’t have a chance in hell to match or surpass them.
Fortunately, that’s all BS.
Top real estate investors are at the top, not because they are wired to win, but because they’ve carefully built a business which is wired to win. And in an effort to identify some of the commonalities of top-performing, high-volume real estate businesses, we’ve collected these 6 tenants, beliefs, or actions that top-performers adhere to… and under-performers don’t.
Tenant #1: To Embrace The Unique Value We Offer To Both Buyers and Sellers
Every business is unique.
It might seem like your business is the same as Joe’s across the street — both of you buying and selling homes — but there are critical differences…
Even if you don’t see those differences…
Namely: you’re you. Joe is Joe.
You both treat your buyers and sellers a little differently, run comps a little differently, you’re probably building businesses for different reasons, and you both have different opinions on how a business should be run.
Maybe you pay more attention to detail than most people, maybe you’re nicer than most people, or more confident, or funnier, or more compassionate. Ask yourself, “How does this unique quality translate to the way I run my business?” and then leverage that unique identifier to make you and your business stand apart from everyone else who is doing the same ol’ thing (the “About” page of your website is a great place to talk about this unique quality).
Top investors use these subtle personality variations to their advantage, differentiating their business in a crowded market.
Tenant #2: To Behave Ethically and Honestly in All Transactions
Especially when you’re real estate investing business is just gettin’ going.
It’s tempting to not be totally honest with sellers and buyers in order to reap the benefits of a quickly closed deal. Maybe you use questionable sales tactics on sellers (bait and switch), for example, or you offer drastically overpriced properties to buyers in hopes that they’ll be none the wiser about it.
Problem is, even if the deception works and closes the deal now, it’s going to hurt your business’ reputation down the road and keep your business from fulfilling its full potential.
Karma might not be real, but bad word of mouth is.
Tenant #3: To Build Authentic Relationships Before Closing Deals
Closing deals is important — how else are you going to stay in business? — but not nearly as important as building authentic relationships with the people in your market.
(So long as we’re talking about building a long-term, top-tier real estate investing business… which we are)
The more authentic relationships you build with people in your market, the more positive word-of-mouth, referrals, and business-momentum you’ll receive in turn.
Put the relationship first always, even if it means referring someone to a local real estate agent or competitor who can better serve their needs. It’ll benefit your business down the road when you’re raking in free referral leads from all those meaningful relationships you took the time to build.
Tenant #4: To Give Back
It might seem silly.
After all, you’re not building a real estate business so that you can give all your money away. You’re doing it so you can live on your own terms, spend more time with your family, travel, and make money while you sleep.
Still, there’s no denying the power of giving back to a charity or cause that you deeply care about.
Most top-performing investors make a habit of giving back. Which not only generates dopamine and makes them feel good (increasing self-esteem) but also puts a fire under them to make more money, so they can give more money.
Giving becomes a force that drives their business forward.
Maybe that doesn’t sound like you.
But give it a try: you might be surprised at just how darn good it feels to give back.
Tenant #5: To NOT Be a One-Man Show
You’re the only one who can do anything right.
If something is going to be done the right way, you need to be the one to do it.
Just a few hire-then-fire punches is enough to make any struggling solopreneur believe they’re going to be a one-man show for the rest of their lives.
But that mentality will cripple your business. You’re only one person, after all, with so much time, energy and motivation (not to mention that working 24/7 sucks). If you’re going to build a high-volume real estate investing business, you’re going to need help. Plain and simple.
Tenant #6: To Be Patient & Trust in The Power of Consistent Hard Work
There are, in the end, just three ingredients necessary to build a successful business.
Patience, consistent hard work, and a tried-and-true business model.
You already have the last one in tow — lots of people just like you have built wildly successful real estate investing businesses. The first two qualities, on the other hand, are up to you.
Working day-in and day-out toward the future you crave (and hiring people to help you) is the most effective thing you can do for achieving the future you crave. Nothing can replace hard work.
And the next best thing you can do is be patient. Consistently implement the tenants above for your business, believe they’re going to work because they’ve worked for loads of other businesses, and be patient.
With that, no one will be able to stop you.