So many expect good things to happen to them. When they see others achieving success, these same people chalk it up to luck out of jealousy and envy. The truth is, those who provide the most value to others and increase their own value through hard work and effort are the ones who reap the rewards of the value reciprocated back onto them. This is something I learned in my own business. My entire real estate business is built on adding value to other people’s lives, and in turn, receiving monetary compensation for my efforts. My goal is to provide as much value as I can for others, and the more I do that, the more it reciprocates back to me.
How my business is based on value
In real estate wholesaling, there are three main components in the business. They are:
- Acquisitions
- Transaction Management
- Dispositions
For those starting out, they naturally begin with acquisitions as this facet is the root of the business. Newbies look to become proficient at closing deals and negotiating with sellers. This is a skillset that is hard to achieve and many people struggle with it, even sometimes those who have experience in similar fields dealing with people in sales. In our business we recognize this, so we’ve set ourselves up to build a system to add value to those who are hungry to get good at this aspect of the business.
Acquisitions team
Our acquisitions team was designed to add value to those who are new to creative finance (our real estate niche), and looking to learn how to close deals. What we’ve done is build a comprehensive system where they can learn how to accomplish this. It works as follows:
Our acquisitions manager, Nick, recruits people onto our team of callers. Currently, we have 7 people under Nick. We provide them with leads that have been pre vetted for motivating factors and coach them through the calling process. When callers get stuck, Nick is there to be a resource for them to fall back on so they can close the deal together. Nick also hosts a weekly training to go over specific aspects of the prospecting process, and is in a virtual office Zoom during the day to answer questions for any of our callers. He is available to be booked by appointment by our team and they have access to a library of content we’ve created to educate them further. All of this is provided to them in addition to the compensation they earn by getting deals under contract, and eventually making money once we sell those contracts. This system and all of the processes in it were designed to add value to those who want to learn about how to get into our niche of real estate and be successful. All we ask in return for all of this is consistency, honestly, and effort. Because we’ve built our system on adding value to others, we have seen this reflected in the success of our business. We are growing at light speed and bringing in more income than ever before. Each month, we have new and bigger problems to solve because of all the deals we’re closing, and its all because of the value we are adding that is being reciprocated.
Our joint venture (JV) program
Another aspect of our business that is a great example of adding value to others is our JV program. What this entails is the following:
We have a team member who reaches out to people posting on Facebook that they have a deal and need help (this could mean a variety of things that fall under the categories of real estate mentioned in the first section). Our team member (who is called a bird dog and is compensated on a commission basis for his efforts) sets appointments for leads who he thinks have a strong potential of having a viable deal we can help get to the finish line. These appointments are booked with me, and we go over the contents of the deal, my initial thoughts, and our next steps together. Depending on how much work and effort we need to put into the deal, we agree to split the proceeds of said deal accordingly (a JV agreement). We then close the transaction for them at whatever point they are at and let them oversee the process on how it works. Under this arrangement, three parties get paid. Of course, myself and partners, our JV partners, and our bird dog. We provide a tremendous amount of value for all parties involved, creating a flowing pipeline of deals from these same people moving forward. When a JV goes well, it’s not uncommon to continue to get more and more deals from the same people for long after the first deal is closed. This is because of the immense value we add to their process with our refined systems, experience, and knowledge.
The value we get back
Due to these efforts, we currently have 9 deals in escrow set to close this month. That number is multiplying and growing more and more by the month as our systems and outreach grow more sophisticated and widespread. Adding value to other people and assisting in their success is the ultimate way to achieve your own success. First, you must acquire your own set of skills so that you are in a position to add value to others. At first, this will be a position similar to our callers or bird dogs. They provide a tremendous amount of value to our business by bringing us a consistent pipeline of leads. Eventually, you might decide to provide value in a different way and pursue giving people the opportunity to learn and grow as we are. However you slice it, the moral of the story remains the same. The more value you give, the more you get back in return! Value doesn’t happen by luck or coincidence!