August 26, 2011 in Building Your Business
Real estate investors have gotten some bad press in the last few years. Some of it was deserved, but in most cases, it was simply a lack of understanding about what we do. A lot of people think real estate investors as a whole take advantage of folks that are down and out; folks that are in some type of distress. While I’m sure those investors are out there, the vast majority provide a valuable service to people that are in need of a quick solution to their problem.
So how can we as individuals change this perception?
1. First of all, understand the importance of doing what you say you will do. Don’t promise sellers something you are not able to deliver. Help them to understand how you can help them but equally important, be upfront if they want or need something you just can’t provide.
2. Spend the necessary time to really understand their individual situation. Sometimes this is easy. Other times, this involves spending a really painful 30 minutes or more listening quietly while they tell you the family history and all of their problems. Remember that the business you are really in is the “problem solving business”.
3. Always conduct business in an ethical manner. Whether or not you are able to strike a deal with the seller today, be the person they will want to call back when circumstances change and they are finally motivated.
4. Be memorable in a good way. Real estate investors have a chance to change the way our business is viewed simply by changing the way we interact with people on a daily basis.
5. Perfect your “elevator speech”. When someone asks you what you do, it should always start out with “I help people…” You can fill in the blanks. It is the responsibility of each and every one of us to change the way real estate investors as a whole a viewed.
6. Last but not least, always “Under Promise and Over Deliver”. That’s probably the easiest way to be memorable in a good way.
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