Re: CS statistics - Posted by JohnBoy
Posted by JohnBoy on June 25, 2001 at 10:02:57:
What difference or what good would it do for anyone to track the success rate of these real estate courses being sold??? Think about it, if ONE deal is made from using a technique taught in a course, then isn’t it fair to say the technique does, in fact, work???
Lets say you sell the same course to a 1000 people. If only 5% of those people succeed in buying a property using the techniques taught in the course, would that mean you would only have a 5% chance of succeeding yourself with the course?
If 80% succeeded, would that mean you would then have an 80% chance of succeeding???
I would answer that with, NO! It has NO bearing on what one person may do with that information compared to what some other person may do with it!
I would hardly compare real estate investing with a mathmatical formula used to buy futures in the stock market with. Although real estate investing may be considered a numbers game, meaning, the more offers you make, the greater success you will have in closing deals, it’s not a mathmatical system to succeeding in this business. It all boils down to KNOWLEDGE, and HOW and WHAT you do with that knowledge that makes the difference in whether you become successful with it.
The reason more people fail and/or give up in this business is because they QUIT TO EASY! They get a course, run out and make a few offers, get turned down, then they QUIT and cry how this doesn’t work! Yet, on the other hand you have the small percentage of people that buy a course, run out and apply the knowledge they learn, get lots of rejection on their offers made, but they NEVER QUIT UNTIL THEY GET THAT DEAL!
So who’s right or wrong whether the techniques taught in these courses work or not??? The bigger percentage of all the QUITTERS or the smaller percentage of those that SUCCEED???
The bottom line is, if just ONE deal is successfully made by using a technique taught in any course, then the technique in that course DOES WORK! PERIOD!
The question then becomes, DO YOU WORK??? Do YOU want to succeed? How BAD do YOU want to succeed?
The biggest problem I see with people getting started in this business after buying a course, is they run out and make offers on properties they have no business making offers on. They run out expecting any seller to just jump at a creative offer and sell them their property. Then they get rejected and give up after a few attempts. The problem is that these people just run out and make offers on any property without knowing the motivation of the seller. What they seem to be missing here is that the seller MUST BE MOTIVATED in order for this to work! No MOTIVATION, no SALE! It’s that simple!
They need to realize that 90% of the properties listed for sale are from sellers that are NOT MOTIVATED! These people what the traditional type of home sale and they want any equity they have paid to them at closing in CASH! This applies to listed properties, for sale by owners, etc. The other thing they seem to not get is that just because a property is being advertised FSBO, does not mean they seller is MOTIVATED! In fact, MOST FSBO properties are listed by sellers that even less motivated because they’re even to cheap to pay a realtor a commission to sell the property for them! They WANT that extra 6% for themselves! Now if they WANT that extra 6% for themselves, then there is no way thay are going to be motivated to sell their property!
If these people starting out would spend all their time and energy focussing on MOTIVATED SELLERS, they would dramatically increase their rate for succeeding in this business.
Simply put, STOP wasting time looking for properties and focuss on locating MOTIVATED SELLERS!!! Find the sellers that are MOTIVATED and you will find the deals to be had using creative techniques to buy their property!
In fact, rather than YOU running around looking for MOTIVATED sellers, set up your marketing by SHOUTING TO THE WORLD that YOU BUY HOUSES and let the MOTIVATED SELLERS find YOU!!!
How much time and energy does it take to answer the phone if you have the MOTIVATED SELLERS calling YOU instead of you looking for and calling them???
It’s all in what you KNOW, HOW YOU PLAY THE GAME, and how BAD YOU WANT TO SUCCEED!!!