Hey guys, a really interesting study just came out, and it showed that 21% of agents that are 25 years plus in the business are actively looking for an exit strategy.
So two things here.
Number one, if you own a real estate company and you've got a lot of people that fit that category, your business could be at risk: What if they suddenly all retire en masse?
Second thing about this is: We have a massive opportunity in our market to take advantage of these people that are thinking about leaving the industry.
Here's how:
What if you partnered with one of your agents in your office to go out and target these folks in the industry?
You say, “Hey, there's four or five agents at this company and that company and that company that fit that category.”
And then say to one of your agents, “Why don't we go out there in tandem, you and I together, and let's try to recruit them in?”
You can actually maybe buy their book of business and come up with a succession plan. A recruiting strategy ...
A question you should ask every seller when you’re about to list a property is: "Do you have an FHA, USDA, or VA loan?"
These loans are often assumable, making the property highly valuable. If they have an interest rate below 5%, the house can fetch a premium price.
For example, if current interest rates are at 7% and a buyer can assume a 4.5% loan, it's a fantastic opportunity. There are some caveats, though. Be cautious about locking up veterans' benefits, preventing them from using those benefits elsewhere. If the seller is retiring or doesn't plan to own another home, they might be okay with someone assuming their loan.
For USDA and FHA loans, the buyer must qualify. They can't be a deadbeat; they need to qualify for the loan. Most buyers in a position to assume these low-interest loans will be thrilled, and your sellers can get a premium price.
Start asking sellers, "Do you have an FHA, USDA, or VA loan, and would you be okay with it being assumed?" There are many opportunitie...
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How can every business owner that you know model McDonald's for building wealth? Well, you might not know this, or maybe you do, but McDonald's makes a lot of money selling hamburgers, but they make more money owning real estate.
Did you know that of the 36,000 McDonald's locations around the world, they own 70% of those locations and the franchisees are paying them rent?
See, they figured out a long time ago that the money is in real estate.
So when you're talking to your business owners that are in your database, friends of yours, family members, people that are your in sphere of influence that own a business, ask them this key question:
"Hey, have you ever thought about buying a piece of real estate and putting your business in that? Or maybe buying the building that you're in? Because one of the best wealth building strategies for retirement eventually for your exit strategy is to sell your business and then rent the building back to the new owner. Have you ever tho...
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Here's a target market right now that could be a massive opportunity for us:
We should be looking for opportunities. In every market shift, there's an opportunity. And one opportunity we're starting to see is retirement.
People are accelerating their retirement plans. In fact, the number of retirees in the marketplace is up 13.7% in the third quarter of this year.
Why?
A lot of people just don't wanna face the challenges of recessionary markets and things happening, and that's out of their control. They just want to exit and enjoy the rest of their time, right?
So when you have a retiree, by definition, a lot of times what they do is they want to downsize. They wanna scale back their lifestyle, so they can afford the retirement. And we're seeing this a lot with empty nesters and just people that are ready for the next phase of their lives.
So these retirees are perfect target audience for us in that they're probably likely gonna be scaling back their house, and mov...
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