As a real estate investor should you buck new business trends and engage in more meetings?
Most of the advice out there time management and ROI advises against meetings, but could your aversion to them be limiting your own real estate investing success?
Meetings can be one of the deadliest time wasters, yet they can also be some of the most productive minutes of a real estate investor’s day. However, there is a big difference in engaging in endless and ineffective internal meetings and spending time at select lunch meetings with specific individuals.
5 reasons meetings are valuable for real estate investing:
1. Relationship Building
It’s incredibly hard to build solid relationships when only dealing with people via email. Having that personal connection can strengthen the bond and builds loyalty.
2. Increasing Your Value
The face time meetings can provide can do wonders for progressing the critical ‘know you, like you, trust you’ combo in a fraction of the time it takes via virtual methods. This can not only speed up results and conversions but the enhanced loyalty can allow you to put a premium on your services and product and win regardless of what the competition is doing.
3. Increasing Market Intelligence
Email is efficient, fast and practical but it also falls short when it comes to enabling investors to really understand their prospects whether they are home buyers, sellers, private lenders, vendors or prospective partners.
4. New Perspective
The internet is great and it is possible to run an entire real estate investing operation from behind a screen in the middle of nowhere. However, getting out to lunch or prospect’s domain can provide a whole new perspective and help investors to stay in tune with what is really going on in the local market.
5. Exploring New Opportunities
Face time also provides the opportunity to explore new angles for collaborating or providing solutions which can fast track success and increase per customer sales.
Of course this doesn’t mean you should abandon what has been working for you in real estate investing and do meetings all day. It could be an effective part of your mix. Just pre-qualify those you plan to meet with, have an agenda and watch your true time and money ROI closely.