“Diamonds in our own backyard” refers to the parable about a poor man who sells his home so he can go seek his fortune elsewhere, not realizing that there were actually diamonds already buried in his backyard.
The parable illuminates how so many of us look outside our industry or area to find the next big thing or unlimited market when they are often right in front of us. Instead of looking elsewhere, we just need to work harder or be more innovative to tap into what we already have.
We recently fell victim to this ourselves at JVM. As we were preparing to spread our reach outside the Bay Area, a friend of ours sent us sales stats for September (usually considered a slower time of year).
Those stats indicated that there were almost 3,000 listings and over 400 homes going into contract on any given week, in the East Bay alone.
The large numbers caught us off guard, and we quickly realized there are obviously more than enough diamonds in our immediate backyard. We now just look forward to harvesting them.
Founder/Broker | JVM Lending
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