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Teach to Grow Rich

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Education & Training with National Association of Real Estate Agent-Investors

One of the most important lessons that I teach the Agents at the National Association of Real Estate Agent-Investors is the importance of building a group of people who rely on you as a trusted advisor.

Marketing guru Dan Kennedy calls tha group a "herd". Seth Godin has a book talking about a "tribe". We have called them network, database, list, sphere of influence, whatever.

For Investing Agents, agents who transform their businesses by working exclusively with investors, the "list" is the key.

These are the people who will buy properties year after year IF you are willing to teach them. To Teach them to want to buy properties, how to buy properties, why to buy properties, and how to buy more properties.

In a way, very unlike how "traditional realtors" work, an investing agent can actually create business.

An investing agent can TEACH to GROW RICH.

How do they do that? With media like this - blogs, articles, ezines, webinars, seminars, CDs, DVDs, newsletters, workshops, bootcamps - whatever it takes to help your buyers "get it" - that THIS is the perfect time to buy property, if you can overcome your fears of buying and holding or fixing and flipping.

The smart agents (the ones that I work with at the National Association of Real Estate Agent-Investors - shameless plug) transform their businesses by "nicheing" for riches (focusing on investors) and then building up a community, a herd, that has them as the leader, the trusted advisor.

Are you building a "herd" in your business that you can work with over and over and over again?  If you say, "That's not the way my business works!", ask yourself, "Why can't you change it?"

I see too many agents working too hard for TODAY money without thinking about building a business that is long-term and sustainable.  Are you prepared to TEACH to grow rich?

Comments(5)

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Steve Hoffacker
Steve Hoffacker LLC - West Palm Beach, FL
Certified Aging In Place Specialist-Instructor

Frazier,

Good points. The mastermind principle of Napolean Hill is as vibrant today as when he introduced it. :)

Steve

Mar 11, 2009 03:18 AM
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Hi, Frazier, Having a loyal investor as a client is excellent, my problem is dealing with one who thinks he knows everything, he is an "experienced" investor.  He will ask for my opinion, but he still does what he wants to do.  Do you have some investor like that working with you?  Any suggestion?

Mar 11, 2009 03:19 AM
Frazier Oleary
National Association of Real Estate Agent-Investors - Alexandria, VA

What?!?  A client who thinks he knows everything? What's that?

First off, fire him.  You've got to attract and train clients who are relying on you for advice and guidance, not just access to the MLS. 

Second off, charge people and set the rules.  I see TWO classes of "Clients" - passive investors who want me to bring them "buy and hold" deals and real estate entrepreneurs who want me to teach them to be successful wholesalers.

If the passive investors don't buy the deals my agents bring them, my agents fire them.  Or I keep them on but they keep paying the retainer until they buy a deal.

If the student doesn't do what my agents tell them to do, my agents fire them.  Or I keep them on but they don't get their deposit back.

Having a "niche" means never having to say you're sorry.  Decide what "type" of people you want to work with and attract the right people, train them to be "righter" and fire them if they cease to be the way you want them.


youR whole business will transform.

Mar 11, 2009 03:29 AM
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you!

Wow...good post!    I hope everyone reads it.   Too many realtors are just in it "deal to deal".   The successful ones know it's a "year to year" model, and so important to differentiate oneself.    Thanks for taking the time to post this.

Mar 11, 2009 04:10 AM
Rita Fong
RE/MAX REAL ESTATE TODAY, Executive Broker 901-488-9590 - Marion, AR
Realtor - Marion Arkansas Homes for Sale

Frazier, it is funny the way you put it.  As a matter of fact, I am really thinking to dump him, I think he is just wasting my time.  I know I have others far better to focus on, thanks for your post!

Mar 11, 2009 09:59 AM