How to Work with Buyers that Buy 5 Times As Many Homes
According to the National Association of Realtors Profile of Buyers and Sellers 2015 the typical (median) seller stays in their home for 9 years, but what if I told you there’s a special type of client that buys 9 homes in that same time period?
My name is James Orr, Realtor with James Orr Real Estate Services in Fort Collins, CO and I accidentally discovered this special type of client that buys much more frequently than once every 9 years.
With more traditional clients, you’re lucky if they sell a home with you and buy a replacement home every 9 years according to the stats. That means you’re helping your client with two transactions every 9 years or about 1 transaction every 4.5 years on average.
However, I noticed several of my clients buying much more frequently… some every year.
I called these special clients Nomads… because they moved from house to house (often keeping their previous house and making it a rental property).
Clients that buy a home EVERY YEAR are almost 5 times better than the typical client that only buys and sells with you every 9 years.
You can work with fewer clients and still make more money.
About These Special Amazing Buyer Clients
These clients span a range of ages depending on why they’re doing the model. I typically break them up into the following five groups:
- Young professionals (often recent college graduates) that are used to moving every year and want to build up passive income early so they can retire young and rich. I call these folks Young Nomads.
- Clients wanting to either save for college for their kids or grandkids using this plan or pay student loan debt with the income the plan generates. I call these folks College Nomads.
- Middle-aged clients that wake up one morning and realize they’re not quite where they need to be with saving for retirement and they need to plan to catch up so they can retire comfortably. I call these folks Catch Up Nomads.
- Slightly older, more established clients that are thinking about their kids, grandkids and other family members and want to leave a legacy for them. I call these folks Legacy Nomads.
- And clients that have the real estate investing bug and want to invest in real estate with little or nothing down. I call these folks Little Down Nomads.
Each one of these groups are hyper-buyers looking to buy numerous properties and I layout a specific plan for each that shows them how to buy 1 property a year for 10 years often using the smallest down payment possible.
As a fellow Real Estate Agent that works with your own clients in your market, you may want to educate your own clients about this Nomad investing strategy to make some of your clients super buyer clients that do 5 times as many transactions as a typical client might do. Imagine what just having a small handful of these fun, amazing clients would mean to your bottom line?