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Ebb And Flow

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The Ebb and Flow

It’s an interesting phenomenon, the ebb and flow of membership at the Madison REIA.  Turns out, it tracks closely with most REIAs across the country, but it does not track at all with most professional networking associations.  I wanted to understand this curiosity a little better, so I took a closer look.

First, let’s define what this ebb and flow is all about.  Through social media, search engine queries, and referrals from individuals and organizations, people find their local REIA.  The individual referrals are the best because they are person-to-person and all about explaining value received by one person explaining it to another.  It’s like seeing a great movie – you share it with people.

But those organizational referrals can be a double-edged sword, especially if the referrer is a “fly-in guru” that has come to Madison, talked people into parting with their money for a “boot camp” or personal coaching, and then admonishes them to go “find your local REIA” on the premise that this is where you will really learn what this stuff is all about and interact with like-minded people.

While the latter points are entirely true, the problem is that it’s the guru laying claim to having discovered this awesome resource just for you and, consequently, you now deserve to “step up” to a more advanced coaching program where you’ll really get the juice.  But that juice is expensive, as you may already know.

With all these sources funneling into the REIA, a few people will look closely at the value that they might get from being a part of the association, and they sign up as members. This is the flow of membership increases. Read More...


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Why Dogs Bite

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I’ve had some discussions lately with coaching students about marketing.  One student was perplexed and somewhat upset, understandably, that “nothing is working”.  So, we drilled down into his work to see if we could uncover something.  I asked what he was doing for his marketing.

“Direct mail” was the answer.  Good, that’s a great way to reach out to a lot of people and get decent results; although this was clearly NOT the case for this guy.  Now, I should mention that I have seen his marketing letters and they are really great – to the point, clear, and all about helping the prospect.

So, naturally, I went to “quantity” and found that he was doing about 100 a week.  Not an avalanche by any means, but certainly enough to generate a response or two from time to time.  But, “nothing” is what he claims to be getting.  Absolutely nothing.  Makes no sense, really.

Later that same day, another student approached me with a couple of questions and remarked that he was fielding a “bunch of leads”.  “Wait a minute”, I said with this earlier conversation in mind, “where are you getting these leads?”  Oh, direct mail, talking with REALTORs, and friends.

So, the first thing you could rationally conclude is that he had multiple streams of marketing going on, but with all things being equal, he should have had little or no response from direct mail.  Not the case.  He was getting the lion’s share from direct mail response.  He was having good conversations. Read More...


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Property Tour #3 Is Only a Few Weeks Away...

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One of the favorite features of the Madison REIA Blueprint Series is the property tour.  For those enrolled in the program, we do 4 live property tours in and around Madison every year.  Why do you suppose these venues are so well-attended and loved?

Well, let’s see – the first thing that comes to mind is the “HGTV Effect” as we like to call it.  This is where people really love to see a distressed property that’s essentially been left for dead, abused, and misused for many years, inhabited by raccoons and their relations and generally just trashed.

Yes, we’ve got plenty of those on the tour (good thing we provide masks).  Also inside the HGTV Effect is the re-building phase, where people get to see how our rehabbers have chosen to bring a property back to life, what updates they’re doing, and how they are proceeding with the process.

During all this, of course, we stress the educational part of the process – it’s what the REI Blueprint is all about.  So we have participants use their Rehab Estimate Worksheets to arrive at a rehab cost, and we analyze that work right on site of the properties where we do this.

Property Tour #3 is coming up on Saturday, August 26, 2017, so if you’re a bit of a real estate geek and this sounds like a fun thing to do all day Saturday, you’ll want to check out the REI Blueprint Series on our website.  CLICK HERE for more details on this event and the REI Blueprint.


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