Wholesaling Business Strategy: Collaborate & Win
Business trends are changing and those that are breaking the bad habits and are incorporating new approaches to business into their wholesaling strategy are those that are growing fastest and stand to win the most.
This is especially true when it comes to openness and sharing. The real estate industry has been notorious for backstabbing, corporate espionage, and scooping business out from under the feet of the next guy in line for decades, but as the world becomes more social and aspiring investors crave more deals and more volume while keeping a close eye on the bottom line working together is becoming more popular and essential.
Of course you still need to be careful of who you do business with and what information you leak out and not be taken for a fool, but the more you can collaborate the more you will gain and more velocity your wholesaling business will enjoy.
For example; there may always be the need for some secrets, especially if you don’t want your ideas stolen at the beginning and have someone else render your real estate investing plans useless because they beat you to it. You don’t want to give your best lead sources away to the competition. Never leak out deals before you have them locked down or property addresses, and don’t give the competition the chance to steal your best employees.
So how can you incorporate more transparency, collaboration and sharing into your wholesaling strategy and come out ahead?
Collaborating on marketing is one of the best opportunities for growing your business fast and inexpensively today. This can be done online with social media and exchanging guest blog posts as well as in traditional mediums like direct mail, door hangers and organizing networking events.
Engage all local pros from real estate attorneys to insurance agents, home inspectors, appraisers, contractors and even real estate agents. The more people you know and bond with the faster you will grow your wholesaling homes business.
Those you can’t get along with can still make for great stepping stones for growth by tapping into their social networks and platforms like Facebook has done with Android and Google has on the iPhone.
Try employing more people. Don’t go broke doing it, but by outsourcing those low level tasks you shouldn’t be doing anyway you can actually gain more fans and visibility.
Help others. The more you help the more you’ll earn, the more they’ll share you and more you’ll get referrals.
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