Hey there, Top Producers. This is Jordan Curnutt, your Realtor-specific CERTIFIED FINANCIAL PLANNER™ professional. Today I want to talk about what could be your biggest competitive advantage in building your net worth as a top-producing real estate agent.

So the competitive advantage that we’re talking about for Top Producers building their net worth is investing in real estate. Really, we think this comes down to two main categories for why this is a competitive advantage for you as opposed to the average person out there. And the first one is just your market expertise.

You know your niche market of Spokane. Whether it’s up north, out in the valley, lakeside property, a specific gated community, you know that area better than anyone else. And that’s why your clients know they have to call you—because you’re the best one for the job when a transaction is to occur in that specific area.

So as you see deals pop up, and if you can identify an imbalance in the market, given your niche expertise, we see that as a huge competitive advantage for Top Producers and an ability to build your net worth that the average person just doesn’t have access to.

The second component to this is just your ability to transact those deals at a reduced cost as compared to the average person. Your ability to have a 3% head start, whether it’s on the buy side or the sell side, and building that sweat equity of running that transaction as compared to the average person who’s coming to you and hiring you to manage that transaction and leverage your expertise for them. Again, that’s a huge competitive advantage when it comes to real estate investing as a Top Producer in Spokane, Washington.

One thing that’s good to mention and to acknowledge is there are over 2,000 real estate agents in Spokane. They all have that same ability to implement their sweat equity, to do a transaction at a reduced cost, and many of them have their own niche expertise as well. So if you’re looking for, what are ways beyond the two that we’ve already addressed to leverage your expertise as a Top Producer in Spokane, the next piece of that equation is to really lean into the numbers.

If that’s something that’s of interest to you, that’s what we’re going to tackle in our next video. We’re going to look at cap rates.

I’m sure all of you have heard of cap rates, but we’ll dive into some of the pros and then some of the areas where cap rates struggle as an investing metric. And then we’re going to take a look at the analysis, which our Spokane financial planning firm believes is a more comprehensive way to view real estate investing. It certainly takes a lot more data and work to complete as compared to a cap rate. But again, these are two metrics that we think can really add value to your process of building your net worth as a top producer.

Schedule a complimentary insight meeting to discuss your situation and how we may be able to help.