Wealth is neither earned nor won. Wealth is created. How is wealth created? – Through adding value. Think about some of the richest people who have lived on the planet: Bill Gates (Microsoft), the Walton Family (Wal Mart), Henry Ford (Ford) Mark Zuckerburg (Facebook). What do they have in common? They all created a valuable product or service that appeals to the masses. I’ve named only four, but you’ll find that all wealthy people became rich by creating value for many people.
Ok, so you’re probably thinking: ‘that’s great, Joe, but I’m a real estate agent. I didn’t create Facebook. How can I create value for the families I serve?
As real estate agents, we are involved in the largest investment of most people’s lives. Yet, we didn’t build the house. We didn’t deliver the lumber to the home site. We don’t offer a product. However, we do offer a valuable service that has the power to affect families for generations. What value do we provide? At the core, we are engaged in matching the right home buyer with the right home seller, and facilitating a successful transaction. We add value to this simple transaction by acting as representatives of our clients, and use the knowledge we learned through our combined experience, gleaned through hundreds of home sales. We ensure the client obtains the best price possible for the property. We advertise the property on dozens of websites and in locations to which they would not otherwise have access. We ensure the client is making an informed decision, and is aware of their rights. We screen prospective purchasers to determine if a person is qualified to execute the transaction, and much more. Additionally, by forming relationships with trusted colleagues at mortgage companies and title companies, we create value for both our clients and our colleagues. If we do our jobs properly, wealth is created for us, it is created for both the buyer and seller, for the mortgage company, the home inspector, the title company, and countless other individuals, companies, and families who are engaged in selling products and services related to real estate.
If we do our jobs well, we create value. If you’re reading this and you aren’t in the business of real estate, think about your career. Think about what you do to add value. Once you establish and recognize what you do to add value, the next step in creating wealth is to learn how to add and create value for greater numbers of people. McDonalds has created value for their ‘Billions Served’ and look how well they are doing. How can you serve more families? Answer that, and you are on your way to wealth.