💰Money Isn’t the Only Lever in Real Estate
Happy Monday!
Here is an Idea, an Action, and a Question to consider this week.
Idea
Everyone in our industry likes to talk about leveraging money. Even if you haven’t done it yet, it's an easily understood concept––if you buy a property for twenty percent down, you’re leveraging the other eighty percent.
Leveraging knowledge, however, is not as commonly discussed or as easily understood, and when I say “knowledge,” I’m implying the broad concept of book smarts as well as real world experience.
Here’s the big picture: being able to utilize OPK (other people’s knowledge) is vital to accelerating your education and career growth. In its simplest form, leveraging OPK can be as simple as reading books, thereby increasing your own knowledge.
But there are also more hands-on strategies, like leaning on your inner circle’s knowledge.
Your Core 4 (your lender, title attorney, insurance agent, and inspector) are incredible resources that are often underutilized. These four people can provide you with necessary knowledge in their areas of expertise.
Leverage your inner circle’s knowledge to become familiar with the various aspects of lending qualification, insurance policies, building codes, etc. You don’t need to be an expert, but you need to be able to speak their language at a broad level, educate your clients on the basics, and know when to direct them to the experts.
You can also leverage your Core 4’s knowledge outside of their specializations, for instance in the area of marketing. They’ll all have their own viewpoints and experience in that area, so you can learn their particular strategies that you might never have considered.
Leverage their experience and knowledge to creatively solve problems. It's great to be able to take a problem to your inner circle and say, “Hey, can any of you help me out?” and their knowledge and experience come through for you.
Action
The next time you face a problem, see if one of your Core 4 can help you solve it. Start getting comfortable with involving them in your challenges.
Question
Do you use OPK (Other People’s Knowledge) to accelerate your growth?
See you next week,
Matt “Roar” Gardner
Real estate investor-agent, Author of Supersonic Real Estate: Light Your Afterburner to Accelerate Your Investor-Agent Career (Coming Soon!), and keynote speaker.
