Location. Location. Location. The 3 rules of real estateJan 26, 2022
February 6, 2022
The 3 rules of real estate:
LOCATION. LOCATION. LOCATION.
Or, is it?
I’m sure you know the three rules in real estate.
Location. Location. Location.
Property value, visibility, foot traffic, profits, etc. - they are all dependent on location.
Some locations have prime, multi-million dollar views resulting in ridiculous value.
Others are smack dab in the heart of everything. This means LOTS of people.
Bottom line is this. Ultimately, it all comes down to something being sold.
Whether it is the building (or home) itself, or the products or services within it; the success of the sale comes down to three words: Location. Location. Location.
Or, does it?
Many times, I totally agree; especially when it involves personal real estate.
I’m not convinced that this is always the case for businesses.
Yes, if a business is selling goods, then the more traffic there is, the greater the chances are of moving merchandise. It’s simply a numbers game.
But I’m talking about your healthcare business, specifically.
Let me share a couple of examples to illustrate my point.
Without blinking an eye, I can think of two popular, busy intersections within only a few miles from my home where half of the establishments have closed.
It makes no sense.
Lots of traffic everyday passing by. Yet, while some of these stores have been well-known brands, they have closed their doors.
You probably have noticed before that there seems to be that one restaurant that is constantly changing names, brands, cuisine, everything.
I’ve seen this happen in high traffic areas.
On the flip side, I have worked for two different highly successful therapy practices where one had to know where these places were located in order to find them. There were no “drive by” customers.
I know what you may be thinking.
These clinics you speak of are successful because physicians were sending patients to them.
To this point, you would be absolutely correct.
However, success is about much more than location. It also is deeper than a multitude of referrals.
One of the most important keys to a successful business - especially if you are a healthcare provider - rests in your ability to develop and to nurture relationships. This includes growing your local “famousity”.
Yes, clinics are dependent on referrals. Thus, their location does not really matter.
Which proves my point: Location doesn’t really matter.
As long as (you) are building strong relationships within the community, people are going to find you.
Your mission, what you are about, the problems you solve for others will put way more money in your pocket than “prime real estate”.
Building these relationships and growing your famousity requires more than social media posts, a pretty website, and SEO rankings.
For YOUR real estate to be profitable, it is vital that direct fact-to-face contacts are made. You’ve got to shake hands and kiss babies.
At the heart of it, find ways to serve other businesses, and to serve the community in general.
The people need to have clarity over where you excel. Thus, messaging and branding are key.
Crush these things, and your business will thrive regardless of whether or not you are mobile, or you sublease a room at a gym that is tucked away on a little known backstreet.
To conclude, today’s writing wasn’t so much about real estate and where (you) should be present.
Rather, the blog hopefully offers tips to what will help you to become known so that your audience seeks you out.
Your success is our success!
The UNCAGED CLINICIAN team
BTW, are you struggling with gaining traction in your business? Or, maybe you are nervous about getting started?
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