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What would you do with an extra $100,000 in your pocket this year?

Uncategorized Apr 09, 2019

It’s no surprise to see the most recent NAR report on Investment and Vacation home sales because I’ve been living in the middle of it all, and still am.

In the past 10 years, vacation rentals have gone from being a luxurious purchase in exclusive areas only the elite could afford, to be almost as common a purchase, like a new car or boat.

So, if you’re one of the agents who hasn’t been tuning into this market then you’re missing out on boat-loads of commissions that your competitors are happy to keep in their pockets. 

And why wouldn’t they? The vacation rental niche is such a small and exclusive niche made up of maybe 5% of the licensed sales agents in the country, yet they are the ones closing 90% of the sales. 

You can imagine how much money stays within that niche, and these few agents are perfectly happy with you not knowing about it. 

Any agent who is capitalizing on this incredibly fast growing real estate niche knows that they have stumbled upon a goldmine. And they would love to keep it a secret. 

It’s not a secret anymore if you’re reading this.

I spent many years working in this VR niche and training my agents with what I feel is one of the best training systems out there, only for many of them to become very successful and go out and compete against me.

I’m okay with it - it’s like - we can’t hold people back or keep them strapped down to a place they don’t want to be. What it taught me was that I had a darn good training system in place because each agent I brought under my wing learned to fly, then soared like an eagle making tons of money in this niche.

That was my validation that I was doing something right.

So I thought - why keep it a secret?

If my agents are having so much success why should I keep that secret only for the select few that I take into work with me? Everyone deserves to soar and I believe the more I can teach others how to do it, the more validated my purpose becomes.

I love seeing people become successful and create a successful path for themselves. It brings me joy to watch that happen.

Every year the NAR Investment and Vacation Home Buyers Survey get's me very excited.

It is not because it is surprising to me; I already knew how crazy popular vacation rentals have become. After all, my phone rings off the hook all day with clients from all over the world wanting to buy one.

I get excited because I know the nay-sayers out there, who think vacation rentals are just a side thing, can no longer back that limiting belief up.

NAR is now validating how much of the market this little old niche is dominating and it’s only a matter of time before it becomes mainstream news in the real estate world. 

Vacation rentals are the next wave; they’re not just a “right now” thing.

According to the 2015 survey: 

“The share of vacation home buyers has risen from 13% to 21%. This is a change of 57.4 % since 2013. 

The statistics form the most recent survey are even more impressive and showing that this isn’t a passing fad. So how much longer are you going to sit on the sidelines and just “observe” this trend? 

Don’t be like your tire kicker buyers that watch the market for 5 years as it keeps going up, in hopes it will go back down, then either don’t buy because they realize they didn’t act fast enough or buy when it’s really high and don’t get a deal.

As you sit around and ignore this niche, you’re essentially doing the same thing.

This niche is not for everyone. It’s not for:

  • those that like working 50 hour weeks in the evenings and weekends for first time home buyers that may or may not be able to get financed. 

  • those who enjoy their contracts falling through at the closing table because there was an issue with the final underwriting and your client can no longer get financed.

  • those who like working with buyers who have to see 43 homes before they settle on one.

  • those who enjoy cold calling and door knocking to obtain leads. This niche is only for those that like to work smarter not harder.

What would you do with an extra $100,000 in your pocket this year?

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If you have these figures ready for your clients during your initial consultation, it will be the key to securing a contract.