A real estate broker is a word in the joint States which describes a party who acts as an intermediary between realtor and buyers of real estate (or real property as it known elsewhere) and attempts to find sellers who wish to sell and purchaser who wish to buy. In the United States, the association was originally established by reference to the English common law of agency with the broker having a fiduciary relationship with his customers.
Real Estate agent is the term used in the United States to explain a person or organization whose business is to market real estate on behalf of clients, but there are important differences between the trial and liabilities of brokers and estate agents in each country.
Beyond the US, other countries take clearly different approaches to the marketing and selling of real property. In the US, real estate brokers and their salespersons (commonly called “real estate agents” or, in some states, “brokers”) assist sellers in marketing their property and selling it for the uppermost possible price under the best terms. When acting as a Buyer’s agent with a symbol agreement (or, in many cases, verbal agreement, although a broker may not be lawfully entitled to his commission unless the agreement is in writing), they assist buyers by helping them acquire property for the best possible price under the best terms. Without a signed agreement, brokers may assist buyers in the attainment of property but still represent the seller and the seller’s benefit.
In most jurisdictions in the United States, a person is required to have a license in order to receive salary for services rendered as a real estate broker. Unlicensed activity can be illegal, but buyers and sellers performing as basic in the sale or purchase of real estate are not required to be licensed. In some states, lawyers are allowed to handle real estate sales for compensation without being licensed as brokers or agents.
Real Estate Consultants also know as wholesalers also assist sellers in selling their property at the best possible price and the best terms; however since they are not licensed; the contract they have with the seller reflects they will be paid a “consulting fee”. In many many case property owners are seeking to work with Real Estate Consultants in order to save money on the cost for selling the property based on the expensive fluctuation in the commissions real estate agents and brokers charge.
As a Real Estate Consultant I have closed real estate transactions in all 50 states and have never had any issues collecting the consulting fees for my help in selling both residential and commercial property. The real estate consulting transactions that I have closed; my consulting fee is paid at closing or “up front”.
There are many cases where clients are also seeking to work with real estate consultants and wholesalers as a way to “sell” their property and close faster than working with real estate brokers and real estate agents since we are seeking to find already established investors to close on these deals instead of looking to sell retail through the mls; which is a lot of cases can take more than 90-180 days. The swiftness that wholesalers can find buyers is very much tied to his “network” So in in the case of both Real estate brokers and Real Estate Consultants networking is the “name of the game”.
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Why is the business relating to real estate so popular? Before you had the buying and selling of properties. Now, with the widespread use of the Internet, we have real estate trading which is basically “I buy yours you buy mine” kind of arrangement.
The term real estate is used to refer to any property, which is permanently attached to land such as buildings and houses. Most people refer to it as real property but there are situations wherein the term real estate is used for the land and the building together while real property refers to the ownership rights of the land itself. On the other hand, the word real is used to categorize these properties as “things” as opposed to “people”.
Records show that the idea of real estate; can be traced as far back as 1666. With the idea of personal property becoming more widespread, real estate has become a major area of business in the United States. In fact, economists claim that economic slumps are directly related when there is lower revenue generated by this industry. In order for the USA to get back on track and stay there; Americans need to view land and buildings as an investment.
There are many types of real estate: residential, commercial or industrial property. The most common transactions involve the buying and selling of residential properties such as apartments, condominiums and multi-family homes. Sometimes families who want to move to a different state finds it difficult to find dwellings on their own so they usually do a map search of the area they’re moving to so as to find any houses which are either for sale or for rent. This way, they get to pick the properties they want without having to travel yet, thereby saving time, effort and money. In some cases, people contact a real estate agent who can then give them a tour of the area so that they get to see the houses and to possibly bargain for the price of the property.
In US and Canada, finding property is easy because of the existence of the multiple listing system or MLS – a data base where real estate brokers can share information about the properties their clients are planning to sell, or in some cases, planning to buy. Most people who want to buy a house usually have no idea where to start so they call a real estate agent. When you do so, the agent searches the MLS to find details about the property. At present, there are about 700 different MLS in the US with new competitors like Hubzu.
But now there is a new way to get into the game. Wholesaling and a lot of retail buyers are turning to wholesalers and house-flippers to buy their dream homes. As an investor you must keep your eyes open for these opportunities because it is an exit strategy in real estate investing with the highest amount of return; as it relates to single family residential properties. The tip here.. Buy low, rehab well (quality and not quantity) and sell retail for more bang to the buck!
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You have probably heard it before, investing in real-estate is among the best investments you could make. Usually, the value of real estate properties increases. It may sound easy, but beginners would usually find out that it is not that easy. It would require knowledge which could be achieved through research, planning and hard work. There are common mistakes in real-estate investing which could lead to serious pitfalls.
Before you buy any kind of investment, you would have to be familiar with the laws covering the property. Different states would usually have different laws covering property acquisition. There are legal procedures that you would have to undergo or complete to fully claim your right to the property.
Your investment could also provide passive income which would require you to look into houses or properties that could house a number of families. We generally call them Multi-Family Unit Properties; however they can be Single Family Properties converted to Multi-Family Units. These houses could be rented out. This kind of investment may have drawbacks since the property may end up with a bad tenant or without any tenant at all. If directly managing the homes or rental units is not your cup of tea, then you could try getting a real estate investment group or bring on a JV Partner that has the network to help you get tenants and manage the property. They would be building or managing the property for you in exchange of a percentage of tenants’ monthly payments. A WIN-WIN!!
If it is your first time to venture in real-estate investing, then you would have to be aware of common beginner’s mistakes. One common mistake is speculation. Beginners would usually follow the media, buy a property and wait for its value to increase. This could be risky. As mentioned earlier, real-estate investing requires research. Aside from that, you would also have to be prepared for the worst. If nobody buys the property, then you would have to think of other methods on how you could generate income from it. You could lease it, rent it and think about other exit strategies.
Another common mistake is developing emotions for your first investment. Emotions may cause problems when making business decisions like qualified prospective buyers being cut-off even though they are offering the best deal. Before you start looking for properties, make sure that you have developed some king of real estate team and they are ready.
Most people think that they could start investing on their own, big mistake. A good real-estate investment team and mentor would surely help you move quickly towards your goal. Who do you need in your team? You would need a mentor, real-estate agent, funding partner or loan office, tax adviser, contractor and even a lawyer.
When property hunting, keep two things in mind: location and value.
I am going to be repetitive here LOCATION and VALUE. There are newly-developing places where real-estate could provide you with greater financial returns in the future. Usually, you would find a great property in a great location, it may need some updating; but it could be addressed inexpensively. You may also want to think twice about buying a good property or residential house when it is located in areas with high foreclosures rates. Also, think about buying a property close to your home. This way you could focus and check on the property without being hassled with travelling for hours each week.
Real-estate investing would not make you a rich overnight. It would require you hard work and good marketing strategies. You would have to be mentally, emotionally and psychologically prepared for it. But when strummed in the right strings, it could definitely provide you financial stability. So think of each property has being one step closer to a nice retire package with residual income. “Better than what the bank will pay you, this I guarantee!”
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No matter what business you are in, overcoming skepticism is a very important thought that has to go into your marketing efforts. This is so important. And why should you learn on how to overcome skepticism? It’s very simple. If you don’t you won’t make sales and if you don’t make sales you don’t have a thriving business.
The 3 Things Needed For A Sale To Happen
People need three things before they will buy from you:
The first thing is they have to WANT what you offer.
They have to have the money, the disposable income to purchase what you are offering.
They have to believe you’ll deliver on your claims.
So if you came to me and said, “Look, Val, I know you really a nice little place that you can retreat to in the winter so you can get out of New York, when it’s cold and go somewhere nice. So I’m going to sell you this awesome piece of property down in Fort Lauderdale, Florida. Yeah, yeah, yeah. It’s great, and it’s only going to cost you $3,000.”
And I’m going to say, “Wait a second here. I’m skeptical. This sounds too good to be true. Can you show me that? Can you overcome my skepticism?” They’ll be like, “No, just trust me. Just trust me.” I’m not going to buy that because I don’t believe them.
So you have to make your claims are believable otherwise you won’t get a sale even if somebody wants what you offer and they have the money to purchase it. So that’s where most of the sales are lost is on that third thing — is they do not overcome skepticism. That’s why it’s so important that you learn this.
So what’s the easiest way to overcome skepticism?
1. Enter the Guarantee
By far the easiest way is with a strong guarantee. This is absolutely the best thing. I talk to clients, and man, if you use a guarantee in industries that don’t normally use guarantees, you just kill it. The best kind of guarantees are tied to specific results. So let me show you what I mean.
Example:
You just launched a product called 4-Minute Squeeze Page. There’s a couple good illustrations on how do an effective guarantee. I do this. This is how you can tie it together: “This package comes with a double your money back guarantee. If, in the next 56 days,” — a very specific number — “you can show me one squeeze page you created that took you longer than 4 minutes to create and it didn’t convert at 25 percent or better, just let me know and I’ll send you double your money back.”
So in this example you can make the guarantee bold. Tying it to a specific result is key here.
–If you can’t make it, if you can’t create a squeeze page in 4 minutes or less and have it convert at 25 percent, just show me in the next 56 days.–
So it’s tied to a specific result. We are not saying guaranteed your money back. Instead we are guaranteeing you’re going to have this amazing result or your money back. Make it part of the opening copy. The goal is to make it stand out with the double your money back guarantee.
All of these things are super important because it’s absolutely going to sell out, especially if you are in an industry that typically does do a money back guarantee.
So when you’re creating your guarantees, you should do the same thing. And I learned this from Gary Halbert. So what you’re going to want to do is find all the great ads that have the best guarantees you can find that tie them to specific results and really stand out. Then what you’re going to do is you’re going to, whenever you have to write copy, you just look at those as examples. And pretty soon you’ll be able to write it in your head like I do now.
2. Enter the Testimonials
The second thing that you can do to overcome skepticism is create testimonials, and these are in order. Be mindful of where you are using testimonials, limit places where people have already seen your testimonials in the past. I don’t use a lot of testimonials when I launch to my list because they’ve already been exposed to my testimonials in the past. But if you’re starting with a cold crowd, it’s always good to have them.
Sometimes if it’s going to delay you from getting it out there, just put it out there anyway and then get the testimonials later. Testimonials guarantee that you’re going to help you overcome skepticism. So the more, the better. So if you get too many, figure out another way to do it.
I also use multiple modalities to make my testimonials stand out as proof. In one of my sales letters I show 16 pages. All are testimonials. And the other thing about testimonials is you want to make them look like they’re real, too. That’s something that I forgot to put in here, but the “realer” the better. The more authentic, the better. The more relative to the product your launching is even better.
People can tell I did not make these up. It’d be very hard for me to make these testimonials up because they can tell they’re taken right from my social media pages, and I snap shot them into my marketing pieces. This looks a lot better than just writing them and reproducing them on the page.
So I did this again with my Internet Marketing product, where here I took the testimonials, and I snapped them from my inbox in my Gmail account. In this case — boom. It’s right off of my e-mail Gmail account; so they got it.
The second thing here is I put these headlines above them so people could actually see the products. So if you look at it — the more, the better; the more authentic the better; and it’s optimized for prospects that won’t read the sales page, they just skim it.. aka Skimmers. So even if you don’t read the testimonials, which a lot of people don’t do — ” So you’re going to see that this kicks some butt just by optimizing it for the skimmers without even having to read it.
3. Enter the Gathering
You will need to create a testimonial campaign, if you’re going to use them in your marketing pieces. So what you can do is before the launch you can ask for feedback on social media, your email list or by phone tel-seminar.
Find people interested in whatever you’re creating a product for and say, “Hey, I’m going to be offering this product, and I’m going to sell it in the future. But first I wanted to get people to have review copies. Would you be willing to give me some feedback on this product — what you liked about it,” and so on and so forth. “I’ll be giving this away to five or ten people.”
So when your product’s done, you give it away. You get some feedback and then you ask them once they give you your feedback, “Can I edit this and put it into a testimonial and put it on the site? Would that be okay?” And a lot of them will say yes — 8 out of 10 of them say, “Okay. Yeah, sure. No problem.” That’s how you get testimonials. It’s the easiest thing in the world.
What I personally like to do now because I favor speed is I launch it in a public format. So in this case you could either launch it for free on the blog and then have people post their feedback right on the blog to get the second half of the report or a bonus, or you could simply launch it in a forum where people actually can reply in a public format on the forum by giving you their feedback right there in the launch.
Or this is another one that I do. After the launch I send out an auto-responder asking for feedback. I basically say “What results have you gotten so far with __________?”
4. The Google eMail Trick
So with the product you created you could say “What results have you gotten so far? Could you please tell me how it’s helped?” So I send that out four or five days after their purchase because it forces them to consume, but at the same time a lot of people will send me e-mails. They’ll say, “Wow, Valerie I did this. I did this. I did this.” And then instant testimonial. In fact, I get so many testimonials I don’t even really use them anymore. There’s just too many of them. I actually have a little tab in my Gmail account here for testimonials. If you implement this strategy very very soon you will have more than you can use as well.
And the last thing is you can create a bribe. You can simply say, “Hey, I want your feedback. I want to get your testimonial, and if you give it to me, I’ll give you something special like a free report or something for free.” In my case I usually will give them 1-2 free 20 minute coaching sessions as a way to really get to know the needs of people in my niche. So get your testimonials. That’s how you overcome skepticism.
5. Anticipate and Prepare
Another very important thing for overcoming skepticism is anticipating it. I learned this from Eugene Schwartz. He had a headline that said “Whoever heard of 17,000 blooms from a single plant?” In this case he could get 17,000 roses to bloom from a single plant, but that sounds so incredulous that you’re like “Yeah, right.” If you just came out and say “17,000 blooms,” they’re going to say “Okay. I don’t believe it. I’m skeptical.”
So you anticipate it with the copy your right.
Example:
First the headline — “How to Write a 400-Word Article in 7 Minutes or Less Including Research and Proofreading.”
Here we go — perfect.
“Dear fellow article writer, did you watch the video above? It’s hard to believe so many people would send me such raving unsolicited testimonials about my product.” It’s hard to believe — I am immediately addressing their skepticism and then actually go right into my pitch on the guarantee.
By anticipating it you’re able to deal with it and you’re reading their minds so you’re gaining rapport with them.
6. The Smaller Commitment
The other thing you can do is start with a small commitment. This is great for overcoming skepticism. People are generally willing to suspend their skepticism if you’re only asking them for $7, $17, or $27, not $97 or $297 or $1,000. So if you could start with a small commitment and deliver on it, then people are going to be less skeptical in the future. I made a business out of this. I sell a lot of front-end products, and then I move those customers up the ladder to make bigger commitments later because I know I can deliver more value than what I can deliver in a $50 product. But I don’t try to sell them my $800 coaching program right off the bat. No, first I start with a small commitment to let them know that, yes, I’m a real human being; that yes, I deliver on what I say; yes, I over-deliver on what I say; and yes, if you go deeper you’re just going to get more and more and more of my good stuff.
So that’s the best way to start with overcoming skepticism. You can do that for free. You can do that with lead generation. You offer them something for free that’s very good, and then you say “Look, if you want to go deeper on this, we really deliver even more value to these people.” And so that’s a great way to overcome skepticism.
7. Share Personal Results
Share personal results! Again, I have a saying called “proof before product.” That simply means I don’t create a product unless I have proof for it in advance. So almost all my products are created this way. So I basically share personal results. One of the products that has sold pretty good for me is my 45 Days to $100k, and that was simply my whole story. It was basically proof. This is how I overcame skepticism. I share my story with my clients.
Then I talk about how I got started in insurance and then went to internet marketing and then to real estate. I can now almost print money at whim. This path allowed me to make certain money, which allowed me to create these products. Then I created these products; so people wanted to know how I created them. So I showed them how I created products. As simple as that..
But the fact is your own personal results are going to be a huge factor in overcoming skepticism, sharing your story and expressing to others your desire to help them. If you don’t have personal results, there’s two options:
You either go out and get them and then create the product,
Or, you make somebody else the “star” of the copy. In this case you find somebody else, you interview them, and you share their results.
Or you find public domain. You take that person who created the product initially and use their results as leverage.
But you’ve got to share some results, especially in a lot of these competitive markets if you’re going to overcome people’s skepticism.
8. Use Modalities
Finally, use multiple modalities. These are basically all the things that you can use: the written word, audio, video, charts, and pictures.
Now I’m not big on charts because they just take too long for me, but it’s something to consider if you have a chart in your hand.
So the written word is the things that you talk about your guarantee; you talk about your testimonials and stuff. But for example, what’s stopping you from taking somebody, calling them on the phone, and getting their testimonial? I do this a lot, especially with my higher-end coaching clients. I get them on the phone, record their testimonial. Also what’s to stop you from making Power Points of what they’re saying so you have video testimonials from everybody? Nothing is stopping you. This is a really good exercise, and you can do this very quickly.
So then you can put the written testimonial underneath the video, if you had it transcribed; or you could have the audio and the video playing with the written words inside the video, and the audio is playing so they can hear it while they read it and while they see it in front of them. That’s a very powerful tool for engaging them on multiple modalities, and it’s going to make you whatever proof you have to overcome their skepticism even more powerful.
The same thing is true with guarantees. You can talk your guarantee out and record it — good. You can do it on video so people can watch as you speak your guarantee — very good. And then you could put the written word next to it, which is what I like to do, and that’s powerful.
Pictures, charts, videos, audio, and the written word are great. Anything you have for proof, you can make it even better if you somehow figure out how to present it in the written word and audio or video, a chart, or pictures. And all of these things together will overcome skepticism.
In closing: As you noticed, I don’t use just one; I use all of these. I tie a strong guarantee with straight testimonials. I anticipate their skepticism. I typically ask them for a smaller commitment up front before I sell them something big on the back end. And then I use my own personal results to fuel it, and I tie all these in with multiple modalities.
That’s all you have to do, and that’s how you overcome skepticism. Very simple, but extremely effective.
Put it to use and share with me your results.
If you enjoyed this article and got value from it please comment below. Also please feel free to reach out and connect with me on LinkedIn.. You can’t miss me! “The lady with the Red Dress”. https://www.linkedin.com/in/valthecoach
Cheers,
_____________________
Valerie Adams, CMA / Investor, Coach & Mentor
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“Paul taught us that the love of money is the root of all evil, and I have discovered that often those who have it the least love It the most.”
Richard Foster
How many times have you heard the story about the guy who just lost his job, had no money, and his credit history was shot? Yet somehow he made fortunes by investing in real estate. Believe it or not this can happen. Many success stories happen because of join ventures in real estate.
The concept is not new. It is simply a matter of using someone else’s money for profit. There are many people who are very interested in becoming real estate investors; however they do not know the first thing about the real estate market. This is where someone like the guy mentioned above can profit.
If you have a feel and basic sense of real estate or finance and know what would make a good investment, but have no cash flow, then you are a good candidate for a joint venture in real estate. Your knowledge and someone else’s money can generate a profitable venture for both of you. It just takes some know how to get it all done.
There are many people who are willing to use their credit or finances to gain a profit in the real estate investment world. You will need to find these people, either by soliciting in the local papers, on the Internet, or by forming a local real estate investment group. This type of group is beneficial to everyone involved.
There are times when an investor has done nothing but buy and flip properties. He or she knows nothing about renting the properties. The typical investor also usually has one niche he or she sticks with. Someone who buys strictly commercial properties may know nothing about residential and vice versa. By forming a real estate investment group in your area, this knowledge from all the investors in the group can be shared.
This can also work to your advantage should you come across a property you may want to invest in but lack the information that comes with the type of property. There may be another investor in the group who will want to form a joint venture with you in order to take advantage of the deal. Many times there may be two or three investors who are willing to make the deal happen.
This is also a great way to break into commercial investing. The more investors there are on a project the less out of pocket expense each one has. You may also find the odds slightly more in your favor with the lenders when you have a team of investors who want to purchase a large commercial property together as a joint venture.
Joint ventures in real estate can offer you the ability to obtain properties you once thought were not in your budget. You can gain knowledge from seasoned investors or you can profit from a new investor who is willing to back you financially in a real estate deal. The list is endless when it comes to the benefits of joint ventures in real estate.
By forming the real estate investment group in your area, you can open a whole new world of real estate investing.
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When we speak of the real estate economy, we use national statistics but we are speaking locally. On the other hand the stock market is based on the national and even the world economy. The real estate markets are based on local or even micro-local economy. Meaning, what is happening in Chicago may not directly affect what is happening in Toledo.
What affects all real estate markets together are the interest rates, inventory, buying activity and social-economic events such as corporate headquarter relocation plans, unemployment and re-development plans. There is no single barometer to measure the entire housing industry in the USA.
So, while statistics calculations and economic factors are relevant, equally important is using one’s common sense. We must keep our eyes wide open and take a look around and see what is happening around us. Talking to real estate agents, investors and lenders in a particular area can be a big help to access and tap into new markets. Equally important are conversations with contractors, freight companies and looking at the money state governments are putting into attracting new companies and tourists.
These are issues one must consider while dealing in real estate.
One major issue facing corporate real estate managers is how to effectively manage the real estate assets in the current market environment. Now more than ever before it’s important to buy low and rent commercial properties competitively to decrease turnover and increase ROI.
Secondly, real estate agents and consultants provide information about utilities, zoning, schools etc. But two common issues a buyer faces while buying are:
i. Will the property provide the right environment we want for a home?
ii. Will the property have a good resale value when we are ready to sell?
These questions are especially important to anyone looking to use buy and hold as their investment strategy.
Another important issue that any buyer/investor faces are the legal issues. Real estate laws vary from state to state. Including properties that must be closed by an attorney in some states instead of a title company. One must consult an attorney licensed to practice real estate law in the state in which the property is located.
Third; there are times a property a buyer is interested in is available but not properly advertised. It may take you some time and effort to search for and locate the right property. Thinking outside of the box is going to be where you will earn your keep here! The value you bring to the table as a consultant to investors and sellers is outlining the ROI as investors outline their investment sweet spot.
The issue of finance. We must know our financial reserves plus our borrowing capacity. If we know about our current savings, income and debt, then we can take help from lenders; banks and mortgage companies, which offer some choices according to your financial capability. There are additional options to Real Estate Consultants; such as connected with private money lenders who lend based on the performance of the asset. This is a option that will help you to stay engaged and active in the marketplace until you develop a strong financial portfolio.
In America, some real estate associations and commissions have sponsored regulations that require all real estate brokers to provide a minimum level of services which forces sellers to buy services they do not want or need. This alone is what opened the door to a new way of selling real estate. Most sellers do not want to forgo 6% of the profit on their profit in addition to the additional service brokers sometimes ask for. Most seller prefer to work with Real Estate Consultants as a way to pay less fees; often only 3% consulting fee is added to the accepted offer price. Also in most cased, because of the network of most real estate consultants the deal can be closed in a fraction of the time.
Issue of rebates on transaction fees. Some states in America allow rebates of commissions or fees on real estate transactions but some states have legislated regulations which prohibit rebates. These regulations were very much needed especially after the 2008 real estate fall out. Understand contract law and if you don’t partner with someone who is. You do not want to sign an agreement for private funding that succeeds state legislation and caps on interest rates and fees.
Next is the issue of consumer participation. The consumer federation of America released a study that real estate boards and commissions are dominated by real estate practitioners and they recommended greater participation by consumers; which is opposed by practitioners – this works against the interest of ordinary buyers and sellers.
Last but not the least, a lot of hoopla has been floating around in the news media about the ‘bubble’ theory of real estate and that the real estate market is going to burst – this may have a psychological impact on the potential buyer or seller. What this means is there will be more investors and buyers that will be very conservative in their buying approach.
For more information on starting a career in real estate investing contact me for an appointment to discuss. If this article was helpful please leave a comment below.
Valerie "The Coach" Adams 