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Wow,
That is so surprising,
There is a huge untapped market out there with the greatest consistency in the real estate industry.
I work with physicians and all other professionals regularly...sorry but I'm in Los Angeles, CA.
My understanding is that coming out of Med school going into residency close to 85-90% of them purchase a home with in a year.
Is that correct??
"There is a huge untapped market out there ..."
Why do you think that this is an untapped market? I am sure that they all have agents through word of mouth, just like any other buyer. In fact, that network is probably more established than usual through family contacts, etc. Unless you are a medical doctor yourself and prominently place that information on your business card and website, I don't know how you think you can "market" to that particular sub-set of buyers.
BOT: Anything is possible in my opinion.... I know had I listened to everyone, I would had never accomplished anything.
do your homework, study your market, competition, etc and be diligent. Don't let someone else's idea damper your ideas... and passion towards an idea
I am a physician with a keen interest in real estate and do believe in your statistic that almost all of us purchase a home within 2 years of practicing medicine- we generally have excellent credit (outside of student loans) and are a good investment for banks to lend us money. Unfortunately, I dont believe your untapped market is all that novel as our practice contracts realtors upfront and incorporates "estate tours" into the interview process. Maybe this is something you can investigate further in the areas that you are interested in. Good luck.
There are two agents in my office that have spouses that are physicians, I would put money on it that this is common across the country.
808,
Can you explain "estate tours" how is it arranged, who arranges them, how does it work??
Jesse,
Are you familiar with estate tours??
The secret to Physicians, they know everything! or at least they think so. In addition, unlike other professional they don't have much down time during the day. I suggest you talk to a drug rep. and mimic their approach.
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The "estate tours" are an integral part of our interview/application process. My interview spanned two days and one half day was devoted with a realtor who focused on specific regions of the city that my office would be located in. She organized back to back viewings of homes and gave me a tour of the areas that I might be interested in. She was not contracted by the physician group per se (she was not paid a salary) , however, she did represent the physician buyer and did well ( I did purchase a home within 1 year of practice and she just recently represented a new physician whom we hired). I suggest that you focus your attention to a large multigroup specialty practice where there is a higher volume of new physicians being hired on a regular basis. You may also consider a local physician recruiter who can suggest resources to tap into. Hope this helps....from a know it all doctor who has no time like other professionals- good luck.
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Anyone working with physicians??
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I would like to explore networking opportunities with any real estate professionals that are currently working or willing to work with physicians, residents, or medical instructors, in OK, AR, TX, KS, MO, CO, AZ, and NM.
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