Diamonds are rare for a reason.
Nintendos were hard to get during Christmas when they first came out because someone really annoying wanted it that way.
Infomercials don’t advertise stuff “for a limited time only” just for the heck of it.
And YOU are about to become the diamond-nintendo-infomercial of your local real estate wholesaling market.
“Are you excited?!” (Said I my best infomercial voice.)
Fantastic. Let’s begin…
But why?
First, you need to know why you are doing this.
You are doing this, first and foremost, because I SAID you are doing this. You need to start trusting me. It will speed things up if I don’t have to explain myself all the time.
You know what a relationship without trust is, don’t you? That’s right; it’s a typical Hollywood marriage. I loathe Hollywood*. Don’t make me break up with you.
And you are doing this second and secondmost, because by making your commodity scarce, you are triggering a very deep psychological need in your buyers.
That need of course, is love.
People love stuff they can’t have. Yachts, neighbor’s wife, self-esteem… you know what I’m talkin’ about.
Think about when Apple announces that the next generation iPhone will soon be released. Know what happens the moment they announced it?
They pull all the current iPhones off the shelves. They are impossible to get until the new ones come out.
Interesting, huh?
Think people will be anxious to get in line for the new model?
You better believe it! My guess is they all sell out in the first couple days and become unavailable again.
People want what they can’t have.
But how?
How can you use this information to make more money in your real estate business?
How can you build “scarcity” into your wholesale deals?
By doing the following 3 things…
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Refuse to pick up and promote bad, borderline or “iffy” properties. Become known in your community for buying and selling slam dunk wholesale deals. In other words, make your product QUALITY to begin with.
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In all your promotions (email blasts, online ads, fliers, etc.) make sure to let people know that your properties always sell fast, and if they want it, they better get on it. Use some sort of wording like: “First $1,000 deposit in my hands gets it.” Or: “Last one sold in one hour – just so ya know.”
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Once your property sells, make sure and email your list again to let them know to “Please stop calling me about that property on Elm Street. It’s sold.”
Long story short, make it appear to your customer base that your deals come in and are gone immediately. Make them SCARCE.
If they’re not scarce, then it is your job to make them appear scarce.
Be hard to get ahold of.
Don’t take every freakin’ phone call that comes in.
Don’t look anxious.
Be mysterious.
As Dan Kennedy says…
“There is a very short line to the guru at the bottom of the mountain.”
YOU are the prize. YOUR deals are the best. People are LUCKY if they even get to have one of your houses.
Got it?
If you believe it, they will believe it. Whoever believes what they believe the MOST… wins. Every time. Remember that.
This is your world, my friend. Everyone else is just livin’ in it.
Make it happen.
*The fact that I look like I live there is completely irrelevant. Stick to the issues at hand please.
Talk to me
How do you build scarcity into your business? Share below.
Only offer quality deals.
Advertise that your deals always sell fast to create scarcity.
Blast your email list after a deal sells letting them know it’s gone, which create more scarcity and urgency.
Preston Ely
is a real estate investor, serial entrepreneur, life coach, musician and philanthropist. CEO of Real Freedom, Inc, one of the most influential internet-based information publishers in the world, owns the largest Anytime Fitness Gym in the United States, is recording a music album with Atlantic Records, sits on the board of Advocates Of Love Orphanage, and has a non-profit charity assisting the poor and oppressed in Cuba with both their physical and spiritual needs.
With over 200,000 subscribers to his email newsletter, he is rapidly fulfilling his mission on earth, which is to glorify God by setting people physically, mentally, financially, and spiritually free through his music and his message of FREEDOM. Preston is 37 years old, lives in Tampa, FL with his wife Ashley, where he spends most of his time reading, writing, and practicing mixed martial arts.