Do Real Estate Investors Need Good Sales Skills with Matt Cavanaugh- Episode #401
You might be wondering, “Do real estate investors need good sales skills” to succeed in this business? Personally, I believe that a good sales foundation helps most investors when it comes to negotiation. I also believe it’s not a skill most of us aren’t naturally good at.
Let’s face it; we are always negotiating with someone. Negotiation doesn’t only happen when we are making offers. We negotiate with contractors, tenants, and/or property managers, and for other goods and services. I believe that sales skills are actually people skills. They involve the ability to hear and be heard. It would stand to reason that it’s a good idea for real estate investors to have sales skills.
My guest today is Matt Cavanaugh, and he is going to dive into sales skills, understanding human psychology around sales, and how this helps him run a large-scale wholesaling business.
Matt is a visionary, strategist, a real estate investor, and he is the co-host of the Freedom Chaser’s Podcast. He has a passion for helping people achieve freedom and live the lives they were meant to live. Matt is licensed and active as a retail realtor in 10 states selling hundreds of units per year. He is a partner in a large-scale wholesale operation currently operational in 10 markets.
[00:01 – 07:17] Opening Segment
- How Matt ended up in the real estate industry
- How to become a good salesman without having to convince anyone
- People have to pressure people in sales because they don't know how to sell
07:18 – 14:39] How to Be a Better Salesperson
- Stop trying to describe what your product is and start describing what it does for your client
- When selling, you should focus on understanding what your client values and how they speak
- Confidence is key in any sales situation
- You need to communicate a message that this product is worth it
[14:40 – 21:43] Recognizing the Magic Moment in Sales
- Salespeople should focus on building relationships before selling
- Creating a level of comfort so the prospect is willing to be as transparent as possible
- Why salespeople should focus more on understanding human behavior
- Giving customers what they want
[21:44 – 28:45] Use Psychology to Grow Your Real Estate Business
- You want to know what the buyers want and how they want to get it
- Why partnerships are better than employees
- You should pick your partners carefully to protect both of you
[28:46 – 36:09] Closing Segment
- How partnerships can be beneficial for both parties
- It's important to do a deep dive into what you're passionate about
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