Why can’t you find jv real estate partners?
The answer is simple:
It doesn’t matter if you’re selling cars or real estate investments; the GOLDEN rule that many real estate entrepreneurs ignore is to “look for people looking for you.”
Look For JV Real Estate Partners Who Are Looking For You
One of the main flaws in getting JV real estate partners for me, was trying to ‘convince’ people that my real estate investment was ‘for them’.
The problem was, THEY WERE NOT LOOKING for an alternate solution.
I found myself getting into debates much too often about which investment vehicle was better.
All the blabbing I did just got me frustrated that I couldn’t ‘close’ anyone.
Maybe you’re feeling the same way…if you are, this post is for you!
What I discovered, was that I should be looking for jv real estate partners that have ‘discovered’ they have a problem and THEY are actively looking for a solution!
If nobody WANTS to fix what’s not broke (in their mind) then you’re going to have a hard time convincing them otherwise…and this is where I see a LOT of real estate investors struggle.
It’s so much easier to ‘sell’ to people when they are out looking to ‘buy’. And they will come looking for you if you are consistently putting out the solution THEY are looking for.
Narrow Your Message
This brings me to my second, more important tweak: narrow the focus and message so you ‘speak’ to only those potential jv real estate partners that resonate with your message.
You CAN’T speak to everyone…and this is a CRITICAL mistake in ALL business, not just real estate joint ventures.
This means you MUST know your customer inside and out, what they want, their needs and desires, pains and frustrations so you can identify and ‘connect’ with them in your conversations, marketing, presentations and so on.
Here’s a real quick video on this!
httpv://youtu.be/lWEdFlEf0oY
Such a simple marketing tactic, right? Show people the benefits of using you, your service, or your company. But that's simply not enough when you have all the same benefits as the person they're currently using. Great way to narrow it down, saying that you just can't reach out to anyone. Thanks so much for the great post!
Very wise words about narrowing the target audience to those in that zone. I look forward to longer blog articles going into greater analysis. This one above simply opens the jv discussion.
Damian Galvin http://www.whitemountain.ro
Property management in Romania
That's the whole point Bryan! Too many people are stuck on "branding" themselves when they should be caring about how they can solve their customer's problems and frustrations. People DON'T buy branding or information or anything like that, they buy TRANSFORMATION – a RESULT…
Thanks Damian, I will totally do that then – it seems a lot of real estate investors are unaware of how to truly 'drill down' into their joint venture prospects to make it easier for them to find them and have them invest. So, I'll expand on more ideas! Hope to see you back!