Join Local Investor Clubs
If you’re working with Investors, you need to go where Investors go. The really good Investors typically join a local club. The largest, most well-known national organization of Investors is REIA (Real Estate Investor Association). They have local chapters.
ACRE is American Congress on Real Estate. There’s also a group called TRIG, in Tidewater, Virginia (Tidewater Real Estate Investors Group). Some chapters have their own names but are still affiliated with the larger organization, REIA.
If you walk the talk, you will get far more respect from these guys as opposed to showing up solely as an Agent looking to drum up business. Because that’s how they’re going to view you. If you join these clubs but don’t actively invest, it’s going to take you longer to build trust and develop relationships with these people.
It’s just like any other sales activity, you need to establish rapport, earn trust and respect. That’s when people will come to you.
I can tell you this. In Pittsburgh, I actually joined two groups in one area because they met at different times of the month. Every meeting, I always got new business. Typically I would get more than one transaction. A property management client, a listing client, a buyer client, or some combination.
Every now and then maybe all three. Never failed. Once a month, I would get a deal just for going in, for an hour to ninety minutes. That’s all I did. Most of these groups will let you get up and speak briefly at some point during the meeting, usually in the beginning. So you need to develop your elevator speech!
Your 60-second speech is not what’s in it for you, it’s what’s in it for them. Tell them what would compel them to do business with you rather than anybody else. If you’d like one-on-one help with this, we can schedule personal coaching. Just call 1-800-931-2605 to set that up.
If you want to master this stuff, you should be taking the instructor class. But to really prosper and grow exponentially, and more rapidly, you need a coach. I have always had a coach. Matter of fact, I have two coaches right now.
In any case, join your investor’s club. That has always been a no-brainer for me. Other realtors who were in the club say the same thing. They learned how to master the relationship.
Another thing that comes out of working with clubs is the potential for authority-building.
The group chair, which I knew said, “Hey, Gary, would you mind running an article every now and then that we can put in our monthly newsletter?”
I was a little naïve and young at the time, but I sensed an opportunity, so I said, “Heck, yeah.” And so I wrote my first article. And guess what, they published it. Then I wrote another one.
I started writing new articles each month, and then I created a series they published every single month. What did that do? That established me. Remember you’re marketing yourself. You’re establishing your brand. My name is Gary Wilson, and my company was Win Realty Advisors.
People knew me because I wrote articles. That established me as an instant guru. The Go-To Guy. So, as a result of all that, I thought, well, maybe I’ll write my own monthly newsletter. Now, I’ll be the first to tell you, I have started and stopped this number of times. It is a lot of work.
There are companies where you can outsource this, but you still need to be involved. You’ll need to give them basic theme or content, and they’ll elaborate and fill in the blanks. But with a newsletter, I created a business. I made money from it. It was just a lot of work. But it was one of my all-time favorites.
You can also create a monthly community group. If you’ve been around for a while, you’ve probably set up a workshop in a local library for first-time home buyers. Or people looking to get credit cleaned up. Or people looking to get pre-approved for a loan in which you joint-ventured with a local lender or credit specialist.
Those meetings are examples of one-and-done. You have a workshop, you get some business, then you move on. What I did is different. I created a monthly community group which started in a local library. At first, I was able to scrounge up six people. I thought, “Oh, boy, this is going to be a huge waste of time!
But guess what happened. We got in the room, I talked for a few minutes, and then I just let those guys talk and ask questions. I said, “I want everybody to bring forward a problem that you’re having now, and let’s see if we can solve your problem, right here tonight, at this table.”
I was surprised at the candor everyone demonstrated. They were willing to be open and honest about their current predicaments. And they solved their own problems. All I had to do was sit back and smile.
Well, guess what? They viewed me as the guru.
And do you know what happened at the meeting the following month? They brought their friends. I started getting business out of this that second night. Then the next month, attendance doubled again to 24 people. Then 50. Then 80. Finally, the library approached me and said, “You’re busting us out of the seams, here.”
We had to take out a petition to support our group. Remember, this was a community group thing. I wasn’t doing it for profit. I was doing it as a community service. That’s why the library would let me offer it. You need to remember this detail because they’re going to ask you. “Is this a community service?” And you’re going to say, “Yes.”
You can also do this in your local municipality. Typically they will have a conference room any citizen in that municipality can rent.
As our group grew I had to break the participants up into smaller tables. One table would focus on flips, one on buying rentals, and another on managing rentals.
I would determine who the senior members in the entire group were, and spread them out across all the tables. And they loved it. They loved the attention of being considered a senior member. I did be walk around the tables and sit down to participate here and there. Mostly I just listened. By the end of the night, I started getting multiple transactions. Then I had to move from the library, and start renting meeting space at a local hotel.
It was worth it. The group grew to 200 people. And without fail, at the end of every meeting, I would have a line of people waiting to talk to me. I got more transactions out of doing this than other forms of advertising and marketing.
It literally only took less than six months to grow from 6 people to 200 people, all by word of mouth. I simply created a service, a forum for people to participate in. And again, at six months, I had people line up, literally, 20 deep. I was tired. I mean, it was late and I wanted to go home. But you know what? Those 20 people typically turned into five, six, seven, or even eight transactions.
I also grew my property management business substantially. Several people said, “You know, I’ve ruined a lot of rentals. You’re the first guy I’ve ever seen do this. Thank you so much. Think you can handle an additional 25 units? Because I’m tired of managing them.”
“Heck, yeah, I’ll manage 25 units.” I grew my property management business from just 4 units to 200 units in the first year. 10 Paths to Profit
Then it doubled again the next year.
In the third year, nearly doubled again to 700 units. And guess what? I didn’t advertise at all. It was all word of mouth. All because I started the monthly community group. I hope you are catching the gist here. This is a huge, huge money-making, profitable endeavor.
It takes a little time, but just imagine that in six months you could be getting five or six transactions each month, from this one technique. I hope you take this advice and start a group because of joining the local investor clubs and running my monthly group – those two techniques alone – I could have lived very comfortably.
So, that’s your marketing branding type stuff. It positions you as the guru.
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