Building relationships to earn trust.

The biggest motivating factor for a potential property seller to go with you, sign next to the X on your contract, and take your deal as opposed to a different real estate investors contract, is trust! Without trust you have nothing. If you understand this fundamentally, then you will understand that to build trust you have to build rapport and every little bit counts. For example, when you are booking an appointment to meet a potential seller, if you tell them you will be at their house tomorrow at 11AM, and you show up at 11AM, you are already late. I’m exaggerating for dramatic purposes but the point remains, be there no later than the time you agreed upon! No excuses, no reasons, this is your first impression and it counts. Never over promise and then underdeliver because it shows you are flimsy, unreliable and get you further away from trust. Though you will come across sellers who have already decided they want to sell and the deal will feel like it closed really fast, for most people it’s a process. If you are always there and are doing what you say you are going to do then your track record will speak for itself and they will trust and believe that when they take your deal, you will yet again deliver with the money.

Same goes when you are reaching out to agents, attorneys, or anyone who can lead you to a distressed seller. The difference here is these people are professionals who get called by hundreds of investors like yourself, daily if not weekly. The way I add value and help them remember me when they come across distressed property sellers is I give them leads or whatever help I can where I can. For example I would call a realtor and ask them if they have any distressed situation I can buy, add value to, and resell or hold if it is a multi unit or land . If they say no I ask them what neighborhoods they canvas and If I have a fresh retail lead that’s overpriced for investors but good for end users such as a family that would buy to live in, I give it to them. You have to give to get, can’t just call people always asking. Another thing I would do is send realtors a very detailed explanation with my offer, along with proof of why the offer is what it is. A lot of realtors are not investors and they may not understand why an offer is so low but if you explain then the realtor walks away with some value and ammo that can help him get the seller to reduce price. The realtor doesn’t make money unless they sell the property for their client, the seller, so if it’s overpriced, then its the realtors job to get them to see and understand that they may be asking too much money. 

Following up is a huge part of this business. Do not forget to ask property owners who say no if they may want to sell at some point in the future. When they tell you they do want to sell when summer comes, or when they retire in three months, or when their child graduates in May, YOU FOLLOW UP WITH THEM UNTIL THEY SELL OR DIE!

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