Beyond Borders: Building & Scaling an International Business | Tom Ferry Podcast Experience
Jan 10, 2024
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Nick Fong, a U.S.-born entrepreneur, shares his story of building a successful business in Mexico. Topics include working with developers, generating online leads, using AI for search optimization, and scaling an international business. They also discuss the impact of the pandemic on the real estate market and the importance of finding referral partners.
Creating consistent, scalable ways to grow a business and generate income is crucial in the second home real estate market.
Building successful partnerships with developers requires understanding their unique needs and providing market expertise to bridge the gap for non-local, desire-based buyers.
Deep dives
Growing a Business in the Second Home Real Estate Market
In this podcast episode, Nick Fong, the founder of RoniVaugh Real Estate, discusses the strategies and challenges of growing a business in the second home real estate market. Nick emphasizes the importance of creating consistent, repeatable, and scalable ways to grow a business and generate income. He highlights the significance of understanding the unique dynamics of the second home market, such as the longer sales cycle and the desire-based nature of purchases. Nick shares how his company leverages a robust media department, outbound telemarketing, and online lead generation to drive success. He also underscores the value of thinking bigger and surrounding oneself with people who challenge and inspire growth.
Building Relationships with Builders and Developers
Nick Fong shares insights on successfully engaging builders and developers in the real estate industry. He advises starting by teaming up with a brokerage that has the necessary infrastructure, experience, and track record to earn the trust of developers. Nick emphasizes the importance of understanding the unique needs of the developer, especially in the second home market, where foreign buyers often dominate. He highlights the value of providing market expertise and bridging the gap between the developer's in-house sales team and the unique requirements of selling to the non-local, desire-based buyer. Nick's company's success in representing large-scale developments is attributed to their marketing capabilities and their ability to generate a continuous flow of qualified leads.
Key Strategies for Online Lead Generation and Scaling the Business
Nick Fong demonstrates the power of online lead generation in the second home real estate market. He invests heavily in paid advertising, generating substantial traffic and leads. With a robust media department and extensive contact efforts, including calls, emails, and text messages, his company effectively filters, nurtures, and converts leads into transactions. Nick emphasizes the importance of continued nurturing and follow-up due to the longer sales cycle in the second home market. He also highlights the significance of scalability and building a strong infrastructure to handle the high volume of leads. Nick's advice to think bigger and surround oneself with people who think big has been instrumental in his company's growth and profitability.
Building and scaling an international business is about more than just selling homes. It takes serious strategy, vision, partnerships, and, of course, marketing.
U.S.-born Nick Fong has created a wildly successful business in Mexico through a series of brilliant moves which include working with developers, generating TONS of online leads, and using AI to maximize search. He’s the No. 1 agent in all of Baja, with eight offices and 92 agents, serving a mix of clientele from all over.
In this episode of the podcast, I talk with Nick about his story of scaling an international business and how you can get started doing the same.
If you’ve ever dreamed about starting, diversifying, or scaling an international business, this is an episode you can’t afford to miss!
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