A quick Google search about the difference between a client and and a customer in real estate will bring up posts and legal information usually related to realtors.
So I thought I’d share a simple real estate customer journey that I teach to my private coaching clients.
This will help you STOP marketing and trying to convince a the wrong people to interact with your real estate business.
Here’s the pathway:
As you can see, there are suspects, prospects, customers and clients.
When I ask a real estate investor “who is your ideal joint venture investor?”
They’ll say (in so many words) EVERYONE.
When I ask real estate agents “who is your ideal customer?” I’ll get “anyone who is buying or selling their home”
Guess what.
‘EVERYONE’ – is the first step of the process…and that’s your suspect.
Also, EVERY business starts out with the same ‘demographic’.
So we have to move from Suspect to Customer.
And hopefully ascend them into a client. (more on that later)
The Process of Suspect Elimination
Like I said, a suspect is EVERYONE. That’s the customer ‘pool’.
We want to pick and choose individuals from that pool.
THAT’S where the ideal customer comes in.
It’s a person / audience / group of people your business serves.
Sounds easy right?
Remember the definition most people give: “My real estate business serves people who want to make a good return / buy a new home / sell a home.”
Think again tiger.
That enormous, abstract way of thinking will have you injecting more time, energy and money into your business than you ever imagined.
The simple reason is because it’s IMPOSSIBLE (yes impossible) to create a magnetic message that interests EVERYONE.
So we have to create a message that speaks to specific individuals and connects with what they truly want.
You and I both know that we could swing a bag of oranges and hit someone who says they’re ‘interested’ in our real estate.
But they’re also interested in making money from a bank mutual fund investment and pulling on a slot machine lever.
This is the reason “making money” is not a “magnetic message”.
And it’s the reason a lot of real estate professionals waste time with suspects, and not prospects.
Because all they’re doing is trying to out-sell the competition – whatever it is (mutual funds, slot machines, the lottery, MLM whatever)
IF you’ve identified your prospects clearly by knowing what they truly want besides the obvious…your job in converting them from prospects to customers becomes much easier.
But Here’s The Problem
MOST of us have NOT identified our prospects clearly enough.
We don’t know HOW they want to change their lives. We don’t understand their fears enough.
And when it comes to your joint venture investors…this is CRITICAL.
Because I know you agree that you’ve already spent TOO MUCH TIME with people who will never invest with you. (suspects)
You move a prospect to a customer when you can help them see your real estate investment is a solution to their problems.
And in case you’re wondering, someone becomes a CLIENT when they repeatedly BUY from you.
THIS is the “customer path”.
The more you continue to focus on suspects, the more frustrating it’s going to be for you and you’ll have a hard time trying to convince ANYONE to invest with you.
If that’s you, the Joint Venture Presentation Formula is exactly what you’ve been looking for. Stop wasting your time. Click here to access our proven formula now.