Green investors all over the US are making money right now. They sell their properties faster, for more money and reduce their expenses through rebates, incentives and discounts.
They all share some common traits that can be learned. Below are four of their common traits and some high value actions for you to take to improve your business.
- Didn’t believe in green when they started. Usually very numbers based people who saw green as an opportunity, not an obligation.
- Communication – Very good at communicating why they were pursuing green to their teams and prospective customers.
- Got their contractors to buy-in. Explained that this process would make them ALL more money.
- Sales – Know exactly how much higher they can list their homes and still sell them quickly.
- Baby steps – Green one thing on your next deal. No-VOC paint is a good one to start with. Green two things on the next deal, and so on. Soon you’ll be a green real estate investor without even realizing it.
- James Bond your business – Find out what your competitors are doing about green. Most are probably doing nothing [this is good news]. Build a competitor matrix and see how you stack up. This is a surefire way to see opportunities in your business.
- Get your sales process down – Know what potential buyers are going to ask you about your property and know your answers. This is crucial because once you get this right, your profits increase dramatically. Common buyer questions:
– “Why should we pay more for your green home?”
– “How is this home healthier?”
– “How much will I save living here?”
– “How is this house green and why should I care?” [most common]
- Ferociously pursue green material discounts. True story – A client is getting no-VOC paint in Arizona 25% cheaper than the regular paint they were’ used to buying. They were spending $22/gallon, now they are spending $16.09/galloon.
- Dominate Google – Google ‘green real estate’ and ‘green homes’ for your city. Figure out potential url’s and buy as many as you can*. For example, say you’re in Dallas, check ‘greenhomesindallas.com’ and buy the URL if it is available (it is). This is one of the easiest ways for you to generate leads.
*Most you won’t end up using but that doesn’t mean you wasted money. I once sold a URL for $1800 after buying it for nine bucks six months earlier.
- Interview an EcoBroker. These real estate agents are focused on green and may have some insights for you on different ways to position your deals in that market. They can be an invaluable resource for you to get your deals done.
- Practice selective listening. People are either there to help or hurt. No one has a neutral purpose. Less is more.*
*Tough lesson for me to give as I am not always good at this. Nonetheless it’s a great lesson for all of us.
- Green your business. Green should be a time saver. If you’re a swamped investor who gets ten new emails for every one you send out you should consider greening your business processes. Remember, ‘green’ is synonymous with ‘high-performance’.
- Know the Numbers. Your calculator is your final judge. If you can’t get the #’s to work, then it’s probably not worth pursuing.