When Rika and I sold houses years ago, we did well. Because we used Joint Ventures. The first house I sold, I hadn’t even seen before. Worse still, I had never even read the contract. I got buyer to help me understand the contract! We sold a lot. How?
How can hard working realtors differentiate themselves in a very competitive market, dramatically increase sales and create multiple, additional streams of residual income at the same time?
First, we used simple Joint Ventures to access the right demographic. You don’t need the access to people as long as someone else has it. We piggybacked our marketing on existing distribution and used Host Beneficiary relationships. Then we used massive, added value to differentiate ourselves, again leveraging other peoples’ resources at no cost or risk to ourselves. You don’t need to own a cow in order to get milk. And you can get the milk at no cost, if you know how to offer real and compelling reciprocal value. Most importantly, we never “sold” – we solved the buyer’s problems. And we had no shortage of inventory because we worked with our “competitors”. Only the egotistical, vain and stupid are afraid of their “competition”. And I didn’t use a 15 year old photograph of myself on a business card or the back of a bus. We were real people. Slick is scary.
We branded ourselves effectively, again using JV’s, so that we weren’t some unknown quantity. We were known and respected by leveraging relationships and exposure. So trust was never an issue for our prospects. Best of all, we created multiple streams of income, a serious back-end that far exceeded the commissions we earned. Fifteen businesses partnered with us to meet the needs of our clients and even those who didn’t buy houses from us.
The Joint Venture mindset is far removed from the “self employed salesperson” we see so much of today. It’s based on Zig Ziglar’s premise, “You can get anything you want out of life, if you’re prepared to help enough other people to get what they want.” It takes a bit to get used to and understand. Knowing about something and actually using and understanding it are worlds apart. But, once you start using it, everything changes, including, I’m pleased to inform you, your bottom line. This applies to any business or profession. You don’t have to try hard to persuade a starving man to eat.
You can find many more great Joint Venture Tools at www.jvwisdom.com.
- Robin J. Elliott
Can Realtors Use Joint Ventures? - To learn more about this author, visit Robin Elliott's Website.
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