If it's All About the WHO...Where did you meet your "Ideal Real Estate Clients" Sean?

10X Real Estate Marketing & Coaching

Hey, Hey, real estate workers. How are you today?

I don't know any morning and it is getting close to Christmas. Beautiful day out. Just want to touch base real quick. You know we were talking to a young agent the other day and they kept asking the question, how do I do this? How do I do that? How do I do this? You know, one of the things I said, I said to the woman, as I said, you know, first she needed to sit back and look at it. The who or why, and then you can figure out the how in most cases to how figures out itself. So if you we'll actually sit down and look at who was my ideal customer, where do they do, where they work, where they say, well, do they have kids? Do they not have kids? Am I working with first-time buyers?

Or are they just coming up the college? Am I doing presentations at the local church? Am I doing presentations at the local union hall for first-time buyers? I've done, I've done webinars. And first time buyers seminars in the Walker room of a amp to work with all the employees, because it was the easiest place to get in touch, you know, to be able to present to 15, 20 people in one shot. So what do I mean by that is in other words, I figured out at the time, my ideal customer was making 60 to a hundred thousand dollars a year and they worked in finance. So what I was doing was doing presentations in the local bar, I would rent it out, have a mortgage lender, pay for the cocktails, have a title company pay for some of the reserves that were being passed around.

And we would actually do a first-time buyer seminar for all these young professionals that were just getting their, you know, just getting their, their job under control and starting to basically getting ready to start a family. Then I realized that our customers are, who was starting to transition from once they made some money, they moved from Manhattan into Hoboken, or they moved into Brooklyn. Once they moved into Brooklyn or Hoboken, they lived in a one bedroom or two bedroom apartment that they paid 200, $300,000 for by the way, which is worth like 700 now. And they lived there until they got married. Once they got married and they had their first kid and they had another kid on the way, the apartment got really small, as soon as they had their first wedding, bridal shower or birthday, you know, or, or the, the beginning of their child when everybody started bringing toys to their house.

So they very quickly decided that, okay, it's now time for the next transition. That transition was out to the suburbs of New Jersey or out to the suburbs of long Island. So what I did was started to partner with people in those markets and, you know, so that when my people were moving from one place to another, they weren't, I wasn't losing them as clients. I was referring them to other people and getting some of a deal versus none of the deal. So it starts with the who, not the how or the what or the why. So you may have gotten a real estate and you're trying to figure out, okay, here's what I'm going to do. I'm going to specialize in you know, open houses or I'm going to specialize in doing door knocking, or I'm going to, I'm going to do a farm.

My, my broker said, do a farm. Well, if you're going to do a forum, are you for everything? Are you farming all the vegetables? Are you going to try to grow wine in New Jersey, which is probably not going to go real well because of the weather conditions? Or are you going to look at the actual weather conditions and go, you know, for New Jersey, corn is really a really Hardy kind of plant that will actually grow really easily. Who else does that? Like strawberry strawberry, you know, in the summertime, strawberries, Jersey tomatoes. There's a reason why we're famous for certain products, certain agriculture it's because it's what grows in our community. So what is your community like? Are you, are you servicing the Apache Indians? Are you servicing the Comanche's? I always say this. If your target marketing, the Comanche Indians, and you're sending the same messaging that you're sending to the Apaches, they hate each other, by the way, and the messaging, they're going to take that in.

They're going to look at that message and you're not going to throw your stuff away because they're like, wow. You know, she's working with my, my deadly enemy. I'm not going to go work with her, or I'm not going to work with him. He's actually marketing. You know, he's telling us about Comanche teepees when we're actually, you know, Cherokee Indians, but that was wrong with this guy, the challenges, our company, our industry was always just keep talking to the masses, keep talking to the masses. And in our I square consulting, we actually are telling you, Hey, let's find out the who let's dial in, what do they do? What are they like? What are the foods they like, where do they spend time? Who do they spend time with? Are they, are they families? Or are they individuals, are they divorced? Are they probates?

Are they you know, same-sex marriages. I mean, you know, I will tell you that. It's probably a really funny story actually is one of the clients I met was in a men's steam room and I didn't realize it, but there was two, two men. They were actually a couple and the one man was actually hitting on me. I just didn't get it at the time. And if you're, you know, if you're a big guy like me and you're 200 and some pounds, and you try to wrap one of those little, you know towels around your waist, in the steam room, there's not a lot to wrap. So as I'm sitting in the steam room, the guy says, you know, we really like to buy a house, but we can't. And I said, why not? They said, well, the problem is, and this is bear in mind.

This is 15, 20 years ago when the same sex people couldn't get married in certain States. And what would happen is, is they said, you know, we'll get married and we'll go by the house. And the problem is we can't buy the house as a couple. We have to buy it as two individuals. And God forbid, something happens to one of us. If I pass away or he passes away, we actually have to pay a 40% tax on the other side of the house for them to take over the house. I said, well, that's ridiculous. And they said, you know, in, in a lot of cases now what's even more disturbing is the families of our, you know, of, of us. God forbid, we pass away. Don't always accept that we're married to another man or a woman, or we're in a, you know, a same-sex marriage relationship.

And what happens is, is some, sometimes the families are a little evil and because we don't have a legal, like the stand on, they'll try to take over the house as you know in, in probate court and go to the court and say, he's not even family. Why should he take the house? Even though he's been my partner for 15 or 20 years, the same as had been married to my wife. So after sitting through it a little bit, I said, well, let me ask you guys a question. I said, you guys don't, do you have kids? Or no? And they said, no, no kids. I said, you have a lot of money. They go, yeah, of course. Well, you know, I said, you have enough to put down for a down payment of like 25%. Yeah, of course. I said, great. I said, let's do this.

Let's incorporate you guys. And we're going to call you Tom Jones, LLC, Tom and Bobby LLC. And we're going to buy the house as a corporation. And what we're going to do is give each one of you a hundred percent, the stock for a dollar. And what has to happen is God forbid, one of you pass away. You're going to give the other person the right to take over the house for a dollar. And all they have to do is pay a dollar to take over the stock in the company, which the stock at a company is actually the house. And I said, so, and then what we're going to do is God forbid, something happens to you. You don't have to worry about, by the way, you don't have to worry about the capital gains tax either, or the inheritance tax, because you're just taking over the company.

It's as though that other person has left the company. And unless there's some kind of entitlement to somebody else, maybe his family or his kids or something like that from previous. But other than that, it's a straight up, it's a straight up corporate real estate deal and you're buying up, but you're buying it. You're buying an actual home that you're going to live in, but you're gonna buy it as a corporation. And wouldn't, you know, it, after I did it, the first one at the, at the party that we had for the open house party, to, for their family and their friends, all to come over and see their new, their new apartment as I'm standing there, I'm the straight guy, you know, heterosexual or whatever. And I had probably was approached by seven or eight different couples of both men and men, women, and women.

Some people I'm not even sure what they were, but there were wonderful people. And they said, Hey, can you do that for us? And I said, yeah, absolutely. And over time I actually did was assembled a team of experts, which was an attorney that did corporate, you know, that the small businesses that incorporated them, I had a title company that did properties, where they were bought by corporations or LLCs. I had a mortgage company that would give me up to 80% the value. And then I got the insurance company. So what I would do is every quarter, we started doing the, the LGBT gay men's and women's associations home buyer seminars. And we were teaching them how to buy homes without the liability so that they could buy a home just like anybody else. And actually in their case, it was actually even better because they had all the benefits of owning a corporation.

So, you know, it's not the, who is not always what you may seem. And sometimes the who doesn't show up or the how doesn't show up until you find a who, but it goes back to who is your, who, once you figure out the, who stop worrying about how to figure out how to do it, how to do it, how to do it, just let that go. Just focus on what you want to get accomplished, who you want to service, who you want to be a resource for. And then deliver that to that community and be an actual lighthouse. Be a resource, be somebody that can stand up and hold, hold your head up high and say, Hey, I'm here to help you on be the champion for your real estate community, become the celebrity expert in your neighborhood. Hey, we're looking forward to helping you learn more about this.

We're going to have 30 to 40 of the world's foremost experts in real estate. They're going to be presenting at the 10 X real estate warrior. Nation's first virtual summit in 2021. We can't wait to have you. It's actually free. You're going to be able to get into it free. We're going to have to do is sign up. It's going to, we're going to start that launch in January to be able to get access to it. If you want to get, pre-launched start listening to this podcast. Tell your friends about it again. It's the, it's the TEDx real estate warriors nation. First virtual summit, a hundred percent virtual three-fold days, 10 hours a day of the best speakers in the country. And the most influential people in our industry are going to be giving you the tips, tricks, and strategies to build your business over the next 30, 60, 90 days. Check us out, look forward to hearing from you. Hey, have a great holiday. If we don't chat,

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