Epic Real Estate Investing - Dominate Your Market with This Low Cost Super Effective Marketing Strategy | 886

Episode Date: January 3, 2020

This Friday, Matt shares an affordable, yet extremely effective marketing strategy to dominate your real estate market! Tune in and accelerate your reach in 2020, right now! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terrio Media. Success in real estate has nothing to do with shiny objects. It has everything to do with mastering the basics. The three pillars of real estate investing. Attract, convert, exit. Matt Terrio has been helping real estate investors do just that for more than a decade now. If you want to make money in real estate, keep listening. If you want it faster, visit R-E-I-Aase.com.

Here's Matt. All righty, hello. Welcome to the Epic Real Estate Investing Show. Happy New Year to you. It's 2020. Time to dominate your market. And there's a saying. Those who educate the market, dominate the market.

And I'm going to show you how to dominate your market by educating your market, by hosting your own live events. It's the very practice that Mercedes and I use to start Epic Real Estate. And it's probably easier to do today than it has ever been before. So I'm going to walk you through that. You know, a shortcut to dominating your market is to educate your market. And that sounds maybe a little bit counterintuitive because the word dominate. It's such a forceful and aggressive and strong word.

And educate kind of has almost a passive soft connotation to it. So the fact that those two work together so well, it can be a little counterintuitive, but it's really, really powerful. You see, by teaching you position yourself as an authority, authority by teaching you position yourself as a leader. And the practice of educating, what that does is it attracts like-minded people to you and your business. It gives you the ability to attract whoever you want just by changing or altering or modifying the subject matter or the title of your event. And so it's a really good way to do business. There's another saying to this, it's also

the person with the microphone makes the money. You see, with everything that's available online these days to create tremendous efficiencies in speaking to and educating your market. You know, like a podcast, like right here. This is a great way to educate your market, to speak and teach your market. YouTube is another great outlet. I don't know if you had a radio show, the public radio services, you can do it there. You can speak at other people's events. But, you know, nothing beats face-to-face interaction by way of, you know,

your own live event. And this is really important because, you know, if you get this part wrong, you're going to have to work a lot harder, constantly trying to convince people and influence people and manipulate people to work with you. You've got to do a lot of chasing. But if you get it right, people will ask to work with you. They're going to, they're going to want to work with you. They're going to reach out to you and they're going to volunteer to work with you. And I guess, I mean, there really is no right or right.

wrong here. It's just a matter of, you know, would you rather chase people or would you rather be chased? And I've done both. I've been on both sides of that fence and, you know, being chased way, way better. And I used live events. Mercedes and I both used live events early on to create this dynamic for us. And I've suggested to my clients for years now that they do the same in their own markets. I think it's a really great way to position yourself in your market. And it's a rather affordable way. So it's really effective and affordable way by hosting these events. And as far as I know, only two of my clients over such this long period of time have really taken this suggestion on and taken it seriously. There may be more, but they haven't shared it with me. But I do know for sure

that Brad and St. Louis, no surprise there. If you've been around the show, you know his success story. Jack and Josh and North Dakota, same. It's no coincidence that they are two of my bigger success stories here at Epic. And neither were full-time real estate investors when we met. And today, they're not only full-time, they're leaders in their markets. And a considerable amount of credit can be given to them hosting their own live local events. They do a lot of other stuff. They're all both really hard workers. And they're very serious about their business. They're very passionate about it. And they bust their butt. But one thing that they do both have uncommon is they host their own local live events. All righty, so let's just kind of define what a live event is. Just like what it sounds.

I mean, you arrange an in-person meeting around a common interest or a common theme. And some very common reasons to get together in a live format is for intentional networking to actually meet people face-to-face or maybe a workshop or a seminar or a mastermind or just for fun or a combination of any of those. And there really are no rules to what the live event is other than for this to work for you, that you're the host and meaning you should lead the event and you should directly and or indirectly exhibit your expertise. And most of all, you should see to it that your guests find the event valuable.

I think that's probably the most important. Your guests have to find the event valuable. Make sure it's worth their time to come. You don't want to waste their time. They've got to be like, damn, I'm glad I went to that event. And you can do that by teaching something valuable. That'll make them, they find a value. They'll be happy they came.

Or you can introduce them to something valuable. Like a service or a product or a contact or a bunch of contacts or just an overall resource. So that's what a live event is. You get together in a live format and you get to teach them something or introduce them to something. And when you're the host and if they find that valuable, they draw that connection of value. They connect that value to you, the host. All right. So that's first thing.

Then next would be where to host the event. Well, it doesn't have to be a giant event. It doesn't have to be like an auditorium or a stadium. It could, I mean, it could be a formal location and something small like a boardroom or maybe a hotel or a coffee shop or at a residence. It doesn't have to be too fancy at all. And there are really no rules here other than making sure that you have a decent command of the environment. So you're going to want to avoid like excessively noisy places, excessively crowded places, places with distractions. I mean, you want to be able to control the experience

as much as possible. So that's where. So why? Why would you even want to do this? I touched on it a little bit. I mentioned that those that educate the market dominate the market. The person with the microphone is the person that makes the money. But just being face to face and in person, greater rapport is built in person. I forget the statistic. It's something like, I don't know, 70, 75% of all communication is nonverbal. And when you're just communicating, you know, through a telephone or a video conference or something, it's a lot of that visual communication. it gets missed. So greater rapport is built in person. It positions you as a leader in your market. It builds trust and respect. It demonstrates your competence. That's who people want to do business with. They want to do business with people that are competent. They're likable and their leaders and people that they can trust. So that's why you want to do this. It can really break down a lot of barriers and accelerate relationship building and therefore, accelerating business.

And then so how do you do this, though? How do you host a live event for it to be really effective for you? Well, one of the best places I've found, because one of the harder things to do for a live event is to actually get people there. So one of the best places I've found to really help you to do this and initiate the overall live event is through a website like meetup.com, M-E-E-T-U-P-com. And, I mean, you can do this through Facebook groups and Craigslist and local newspapers and LinkedIn.

I mean, that's what comes to my mind at the moment. But, you know, depending on when you're listening to this, who knows what other resources will be available. So always keep your eyes and ears open for that type of stuff. But let's just with Meetup.com as an example. You can create a group there to where you can connect with people online in order to meet offline. And one thing that's I really like about Meetup.com is they do a lot of promotion for you.

They'll introduce your event and notify people of your event, people that might belong to other groups that are similar to yours or have some sort of synergy between the two. And so they do a lot of promotion for you. So it helps get people to your actual event. Now, your event should be clearly defined in a way that the person that you want to attend, the person that you're wanting to attract is going to know, they got to know exactly what your event is about and they have to want to attend it.

You know, for example, if you want to find, say, homeowners that are behind on their payments, those are the type of sellers you might be looking for. You might title your event, how to navigate the foreclosure process without damaging your credit. I mean, who's going to attend that? People that are in foreclosure that are concerned about their credit score, right? So those could be very viable contacts for you to put you in a position to potentially buy a house. Or maybe you want to find absentee owners. You might title your event, how frustrated landlords can find better tenants, right?

So the only people that are going to show up there are frustrated landlords that don't like their tenants. And they might pose a viable contact for you, a viable transaction for you, a deal to put together. Or maybe you're not looking for sellers. Maybe you're looking for cash buyers. You might title your event, off-market properties just for flipping. Then at the event, you want to make sure this is key. You've got to deliver on the promise of the title of your event. No bait and switch allowed, by the way.

Okay, you can't do that. And here's what I mean by that. If your event is how frustrated landlords can find better tenants. And then when they all arrive to your event and all you're talking about at the event is, hey, sell your property to me, whether that's directly or indirectly, it's going to have the opposite effect that you're looking for. People are going to feel duped. So genuinely show your audience how to find better tenants.

Show them how. And if you don't know how, for example, I mean, you don't have to be the expert you can invite someone that does know how and let them deliver the information while you just be the host and the moderator. So you're still positioned as a person of authority. You're still delivering value to your audience. And in the audience, some people are going to decide

that they're going to take that information that you provide. They're going to be very grateful, think you're a really cool person, and they're going to go out and they're going to apply it and they're going to win. That's why they came to the event. That's why you're hosting it. So some people, that's what the situation is going to be,

their experience is going to be. And then some people are going to decide, hey, this is more trouble than it's worth. And they're going to seek alternative solutions. And who are they going to ask about the alternatives? They're going to ask you, the host of the event. So that's typically how it works. So detach yourself from the outcome and deliver on the promise of the event.

I think that produces the best result for you and the attendees. And it produces the best result short term and long term. And we're all in this for the long term. you want to really protect the long-term relationship and don't get distracted by trying to close on a single transaction and ruining the potential. You don't want to kill all the whole tree just because you saw an easy piece of fruit to grab, right? So doing it this way, it creates valuable relationships. It creates valuable referrals and it can create direct business right there on the spot. Some connections are going to be profitable right away.

Some might be next week. Some might even be next year. Just the whole thing here is just treat the people in your group right and they will treat you right. All righty. So when? When do you do this? Well, for the best results, I would host a consistent monthly event. I mean, lightning can surely strike with a one-time single event.

But trust with your attendees, it's built over time. The best, most profitable relationships, they take time. There are certainly faster ways to create opportunity for yourself. but nothing compares to live events when you're looking to create quality opportunities, quality long-term opportunities. The gift that keeps on giving, when you keep on giving to your audience, giving to your market by the way of valuable information, valuable resources, valuable education, and trainings, they will keep giving back to you.

Ready? So if you host consistent, valuable live events over time, but at least basically, you won't need a marketing budget at some point because the relationships and referrals you build at these events will keep you busy enough. And overall, just remember, this is a people business. Every piece of real estate you buy ourselves is going to be from or to another person, regardless of which marketing channels or advertising or promotions that you decide to deploy inside of your real estate investing business, the goal of all of them is to interact and get

face-to-face with people. And live events, it cuts out a lot of that middle process and puts you directly in front of your ideal client, your ideal buyer, your ideal seller, your ideal lender, your ideal partner. Face to face right off the bat. Can you do this? You can, right? So, when will you begin? God bless to your success.

I'm Matt Terrio, living the dream. Yeah, we got the cash flow. Yeah, yeah, we got the cash flow. You didn't know, home world, we got the cash flow. This podcast is a part of the C-suite Radio Network. For more top business podcasts, visit c-sweetradio.com.