Ep 508: Social Equity

In this video, the hosts discuss the concept of "social equity" in real estate, contrasting it with the traditional notion of financial equity that dominates the industry. They emphasize that social equity involves building and maintaining relationships that can enhance long-term business prospects, rather than focusing solely on immediate financial gains. The discussion includes practical examples from real estate where fostering good relationships has led to more opportunities and potential deals. Ultimately, the hosts advocate for a business approach that values and prioritizes people and relationships, suggesting that this can lead to greater overall success and satisfaction in business endeavors. Introduction of Social Equity Concept (0:00-0:08): The video opens with an introduction to the concept of social equity, questioning the traditional focus on financial equity alone in real estate and proposing a broader understanding that includes value exchange through relationships. Definition and Importance of Social Equity (0:42-1:01): The hosts define social equity as building value through relationships and allies, rather than just financial transactions. They argue that this approach can lead to repeated business and long-term collaboration. Example of Building Social Equity through Real Estate Deals (4:07-5:09): They share a story of their first major subdividing deal which not only resulted in financial profit but also strengthened trust with the seller, leading to more business opportunities with favorable terms. General Advice on Building and Utilizing Social Equity (14:09-15:24): Towards the end of the video, the hosts encourage viewers to create social equity in everyday interactions, not as a strategy but as a genuine practice of goodwill, emphasizing the long-term benefits of such an approach in business and personal life.

www.nytfire.com Text 📱 210-972-1842