There are many excuses for not getting started in real estate investing or not going bigger and claiming the results others are.
One of the top excuses for not doing more is the competition from competitors. Either they are too well funded, too well established, well connected or just have better businesses.
The truth is, if you are equipped with the right real estate education and planning, you can compete and win in any business environment whether its against real estate agents, giant private equity firms or another investment company.
Just like small mortgage brokers won 60% of the home loan market from big banks, you too can compete and win against the giants in your market with the right strategy.
So, isn’t it time you stopped griping and started crushing your competitors?
The key is finding what you can do better. Just because there is bigger competition doesn’t mean they don’t have weaknesses. There are people out there who are unhappy or dislike doing business with them. (eg. Do you enjoy doing business with big phone companies or your big bank?)
To find what you can do better, start with getting to know your market. How big is it? What is your maximum potential and how much market share is up for grabs?
Then, find out what is it that your competitors are doing or not doing that is helping them win or lose consumers. Be a mystery shopper or track their marketing efforts and find opportunities where you can excel.
It could be speed of response or friendlier customer service. How about a more tech-oriented approach or perhaps getting out from behind the screen to offer a more personal touch?
Do you need to be more organized and present in a fancier way or just offer better deals? Should you be offering full service or a stripped down version?
Find your real estate investing niche, own it and grow. Then you’ll be stronger, better funded and better able to branch out into other areas or take competitors on in other niches.
