48 – Getting 200 people lining up to buy your property development (part 2)

Finding a way to stand out in a crowded market place is essential if you want to achieve outstanding results on a regular basis. So, in part 2 of my conversation with Andy Hoyne, we cover how to grow your development business, create a company that stands out and nurture a crowd of loyal followers.
Andy has been working in and around the property sector for the last 25 years.
"Why shouldn't property developers be comfortable expecting a 30% profit margin?" Andy Hoyne
I mentioned in the last episode that you would have a chance to win Andy's beautiful book the Place Economy that showcases great projects, developments and case studies from around the world, valued at $200. It is a gorgeous book, chock full of ideas and inspiration for any developer, and Andy will mention during the interview how you can get your hands on it for free, so keep your ears peeled for that!
In part 1 of the interview with Andy Hoyne we covered the importance of having a point of difference, how you can mitigate risk through innovation, and the 'must do' marketing activities for developer’s on a budget, so if you missed that then go back to episode 47 and take a listen.
I have some great conversations coming up with some really interesting people and I can't wait to bring them to you, including my next episode, which I think leads on perfectly from my discussion with Andy Hoyne, about how you can become a billionaire property developer.
If that sounds interesting to you then tune in, as I think you will be inspired by what we cover, it certainly got me fired up. Anyway, that will be the next episode of the show, so keep your ears out for that one!
I really enjoyed that chat with Andy and would love to continue the conversation with him one day soon.
If you have any case studies that you want to send through to me to go in the running to win a copy of Andy's beautiful Place Economy book valued at $200 then send them to justin@propertydeveloperpodcast.com and I will send them on to Andy for his review and to select a winner.
Property Development Training
If you are interested in learning the fundamentals of property development, in your own time and at your own pace, then be sure to head over to www.propertydevelopertraining.com and take a look. I take you step by step through the development process so you know exactly what is needed to find a site, run a feasibility and complete a small scale property development, be that a duplex or 3 or 4 unit site. The training includes a bonus program called Taking It To The Next Level for people who may want to go into developing full-time, along with another bonus course called Raising Capital which covers how to raise money for your projects.
So head over to propertydevelopertraining.com and take a look... I would love to see you on the inside...
Property Developer Quiz
Keen to find out how ready you might be to become a developer? Then take the Property Developer Quiz (https://www.propertydevelopertraining.com/quiz) and get a sense of where you are at…
Become a Million Dollar Property Developer
Grab my book Become a Million Dollar Property Developer about my journey into property development. This book is ideal for anyone who intends to get into small-scale property development and wants an insider’s guide to successfully obtaining wealth, fulfilment, and glory.
In this book, Justin will share how he succeeded in delivering a 20-townhouse project on his first property development project and what he learned along the way.
Many people have a dream of becoming a property developer. They aspire to build properties, grow portfolios, and amass great wealth. However, many people often struggle with making the leap into property development.
This book has the answers for how you can make the leap into property development. Grab your copy now.
Social Connection
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Lessons for real estate developers
So, here are three lessons I took away from my chat with Andy:
1. Property developers will benefit if they keep growing
I enjoyed how Andy said investing in your organisation or yourself is a great way to combat risk. By having effective processes, new services, and new ways of thinking you can actually help mitigate or eliminate risks. Continuing to grow, personally and commercially, will keep your mind fresh, your business growing, and help to maintain your drive and inspiration. As Andy mentioned, the source of all profit is risk, so if you can reduce your risk then you can potentially boost your margins. So what things are you doing in the next 12 months to grow your brain and stay inspired?
2. Property developers will benefit from hiring people who are great at their roles
I regularly hear how great businesses are built by people who recognise that they need talented people around them. For some people this is a challenge because they want to be the smartest person in the room, or the one calling all the shots, but if you are prepared to surround yourself with bright, talented people who are best in class, and manage them well, you can really take your business to stratospheric levels. And don't forget Andy's tip to hire slow and fire quickly!
3. Real estate developers can build a business that people want to follow
If you would love to build a business that has loyal followers then give some serious thought to your purpose and how you provide value. We will be covering more of this in the next episode about becoming a billionaire property developer. Here's a few questions that Andy threw up:How can you be different in a way that makes people want to associate with you or connect with you? How can you deliver something that is better than anyone else? How are you going to deal with people? How can you come up with ideas and projects that resonate with people and offer meaning?How are you going to operate or do business?
These are interesting questions to consider, and may take some effort to answer, but give them some thought and start to think about what you are going to do to make your developing business stand out, and imagine what it would be like to have 200 people lining up to buy your product because they love what you do. I think it sounds pretty exciting.
Alright, if you enjoyed that discussion around property marketing and strategic positioning, then you may want to go back and listen to episode 32 with selling agent Campbell Cooney. Campbell has had a long career in real estate and offered some great insights into why he was having trouble selling off the plan properties early in his career. Campbell shared lots of gold during that conversation so jump into the archives and check out episode 32.
Don't forget that if you are interested in learning how to develop then email me justin@propertydeveloperpodcast.com and I can send you some information about the program. Or head over to www.propertydeveloperpodcast.com/learn and listen in to my chat about the mentoring program.
And check out my Instagram (https://www.instagram.com/property_developer_podcast/) and Facebook (https://www.facebook.com/propertydeveloperpodcast) pages for my latest developing videos, photos and news at Property Developer Podcast.
So until next time, may you always have 200 people lining up to buy your next offering...
Links
Hoyne - https://hoyne.com.auLearn how to become a property developer - www.propertydeveloperpodcast.com/learn