Wednesday, December 31, 2014

My New Year's Resolution: Stop Buying Houses!

Happy New Year!

The new year is always a good time to reflect on our lives, including our business life.  When I look back on 2014, I realize that sometimes I don't practice what I preach.

The investor/agents I coach all start with the same desire... to buy houses.  I have to tell them to stop!

But isn't that the business we are in?

Investors without their license are stuck in that mode.  Their only hope of making money is to buy the house (even if they end up assigning the contract).  So when a lead comes in, the investor focuses on gathering as much information as possible so they can make an appropriate offer.

But when the seller doesn't take the offer, they leave the appointment or phone call disappointed.  NO DEAL.

But as investors who are also agents, we have an advantage!  We don't HAVE to buy the house to make money.  We can buy it, list it, short it, owner fi it, wholesale it, rehab it, and on and on.  We can do ANYthing.  And when you can do anything with the property, you can drop the mentality of "buying houses".  No longer do you need to research deed records for equity.  No longer do you need to make an offer, then leave when its not accepted.

Your job is not to buy the house.  It is to SELL YOURSELF!  Sell yourself as the solution to the seller's problem.  The seller wants or needs to sell their home.  YOU can be the solution to that.

Once you stop going to property to buy a house, and instead start meeting sellers to sell yourself, making deals becomes infinitely easier.  No longer are you locked into a price that makes sense to you, but you can work with the seller to get a price that makes sense to a deal... any deal.

This is not an easy task.  And there are nuances and strategies and approaches to these kind of seller meetings that we will continue to discuss on this blog.  And you will soon learn how selling yourself instead of buying houses, often leads to buying more houses.

But alas, I am not perfect.  It is easy to get excited about that dilapidated home in the hot area and start imagining your next rehab project.  I am as guilty as the next person of not always practicing what I preach.

So my New Years Resolution is to remember one motto:  Stop Buying Houses!

To learn more, be sure to watch our videos online at StepStoneTexas.com.  And follow this blog for more details and insight into how being both an investor and an agent allows you to BE the solution for sellers, and sell yourself.  AS a consequence, you WILL buy more houses.

For updates, like our facebook page! https://www.facebook.com/StepStoneRealty

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