myEmpirePROQuestion: “How Do Real Estate Wholesalers GET PAID?”
Real Estate Wholesalers get paid when deals close.
As you can see in the diagram below,
Deal is on number 5 and that’s when real estate wholesalers get paid, Traditionally.
Traditionally, that’s how wholesalers get paid.
When somebody actually brings some money to the table as a buyer who actually pays for the deal,
…and then on that same transaction, they pay you a fee for finding the deal.
That’s how you get paid.
But with the evolution of everything like technology, learning how the game works,
…learning marketing, learning how equity works in real life.
See, some people actually wait until there is equity in an actual property but the truth is that.
In the way that I will teach you, you’ll have equity in your brand.
Just your ability to be in this marketplace and learn some skill set,
…you already have equity by default because you’ll learn how to build digital assets.
Not just physical assets on the street.
When you do that, you are starting to get paid somehow.
Traditionally like I said, if the deal doesn’t close at the very end, you don’t get paid.
But this time and age there are other things that happen in between the first step, which is Data and Deals.
There are so many things that happen that you can also flip.
You can flip information.
When you learn how to flip information, there are all kinds of fancy words for it out there.
Some people call it evangelist, you get paid being an evangelist, right?
You get paid for spreading the word, you get paid for being a marketer.
There are so many things that you can flip and you can flip them in a strategic way that you get paid even if you don’t ever close a deal.
That is something I learned 10 years ago.
Once I learned that, I will basically never go broke ever again in my life,
…as far as like, I’m just completely paralyzed and I can’t get paid or feed my family,
…that would never happen ever again because of this one skill set.
Some people call it attraction marketing or some kind of stuff but we have a structure made that we train that inside the system.
So, how do real estate wholesalers get paid?
The traditional way that wholesalers get paid is, you get paid when the deal closes,
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…but this time and age, you don’t have to wait that long.
And no, you don’t have to create your own course because honestly,
it’s not exactly authentic to be creating courses on something you haven’t created results from,
…but there is nothing stopping you from sharing the word about some kind of information that you really enjoyed.
You share that word and you get paid 50% commissions, you get paid for sharing information.
Is that new?
That’s not new, that’s always been there since the beginning of mankind, it’s just a lot easier with Digital Marketing.
Same skill set, so if I teach you how to use Facebook marketing to generate leads,
…and let’s say you are paying $20 per lead.
That lead can potentially turn to $10,000 but again the keyword is “potentially”.
Maybe not.
Maybe you have to spend the next $20 a few times, maybe 500 times before you actually close one deal.
In that meantime, you can use that same skill set and you use that to share information because people are moving money.
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Money is moving a lot faster when people buy digital information,
…either they are buying a software or they are buying digital information of some sort.
That money is moving faster but it’s still the same funnel or the same process and you are getting paid all through that process.
You also understand the power of online digital follow-ups and stuff like that .
And you’ll also understand the power of offering people offers and they can potentially click and buy something and you’ll make $500 like that.
You build a whole system out of that, you can get paid in a lot more ways than just wholesaling.
So, you can also use the same concept and say,
…“you know what, other people say I need a license but I don’t need a license”.
If you’ve been doing the business for a while, you just have to get a license.
You get a license but you are not getting a license so you can drive around town in the middle of the hot summer or cold winter to be showing people houses.
You are doing that just because “hey, you know what, I get paid referrals. I just have a real talk partner who is gonna do all the work and I get paid on the side”,
…because you are a marketer and you learn how to find the deals.
Same concept except that you are bringing down now using technology.
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Your resources, time and energy can go a lot further and basically bring more money.
Just because you learned the skill set of marketing in a digital age.
You’ll see that theme a lot more here.
I’ll be talking more and more about Facebook Marketing and Instagram Marketing because honestly, that’s the direction that the world is moving.
What else do you want me to teach you, how to drive around town for 20 hours and not doing the deal?
That’s a terrible way of doing business at this time and age,
…so no I’m sorry, I’m not gonna tell you that.
How do real estate wholesalers get paid?
Like I said, traditionally you get paid when a deal closes but this time and age,
…you can get paid as soon as you start generating leads.
So if you look at the diagram above, and see step number 3,
there is no reason why you are not getting paid in that process already.
There’s zero reason.
The only possible reason is, maybe you don’t have the right training.
You are not plugged in to the right programs.