During this episode of the HyperFast Agent Podcast, host Keri Shull speaks with Mikki and John Ramey about how they built a business around helping doctors buy and sell homes. Mikki shares what inspired her to pursue this niche, how she builds relationships with medical schools and hospitals to find leads, and how you can use her strategies to break into this niche in your own area.
Episode Highlights:
- The Rameys have helped over 500 doctors buy and sell homes in the last few years.
- John Ramey is a doctor, so they know what that lifestyle is like, and help other families who are going through what they went through.
- Mikki used her inside knowledge to create a niche in her market.
- They realized five years ago they could help physicians relocate nationally and started a company called Dr. Moves to help doctors find great real estate agents across the country.
- A big part of their business is connecting doctors with loans that can help them buy houses.
- The first step in creating their business was to start a website that functions like Zillow for doctors.
- In 2008 they had a business plan and a vision. Mikki's first four clients were from one mailing she sent to incoming medical residents.
- Mikki had a connection at the medical school. She went to each department individually at their medical school and handed out her flyer. That was how her business began.
- With medical students and residents, they focus on finding resellable properties for them to buy.
- They know exactly the day medical school graduation will be and exactly when they'll finish up residency. So they contact these leads six months to a year ahead of that time.
- Dr. Moves has a page for each medical school in the country. They are looking to partner with one real estate agent in each of those cities and teach them what they've done.
- Their system is easily duplicable and you can do the same thing every year, over and over.
- They now have a lecture series where they go into the medical school and talk to them about whether it would make more sense to rent or buy.
- Sometimes you have to go to a school a couple of times and be really sincere. Have some good statistics to share how you can benefit students.
- They provide dinners or bring food into the hospital with their education.
- Always make sure you know what the school allows.
- There are still 100% financing loans out there and doctors can get them.
- On their website they have a list of banks in each state that provide doctor loans.
- They partnered with a loan officer that works with doctor loans and created videos for social media.
- They also have 10-15 webinars that answer common questions.
- Timing is important when working with medical students and residents. Nurture them in the fall so that they'll be ready to work with you in the spring.
3 Key Points:
1. You can use your insider knowledge to serve a highly specific niche and build a successful business this way.
2. If you want to work with medical students and residents, you can establish a relationship with nearby medical schools and hospitals.
3. When working with doctors or medical school students, be aware of doctor loans and their benefits.
Tweetable Quotes:
- “Our passion is to really just to share in what doctors go through and what their lives are like.” – Mikki Ramey
- “When you're doing the education, offer a free lunch or free dinner and your turnout will be better and they'll be more likely to listen.” – John Ramey
- “Doctors can get 100% financing, no PMI and also the other nice thing is they don't count their educational debt against them when buying a house." – John Ramey
- “You really have to have the right goal for people to say yes to you.” – Mikki Ramey
- “Always make sure you know what the school allows.” – Mikki Ramey
Resources Mentioned:
