The real estate business is one in which opportunities are truly limitless. In fact, at the risk of sounding too cliché, real estate investing is what you make of it. There are no restrictions preventing you from pursuing a particular exit strategy or from realizing lucrative profits. Investors in today’s market are therefore only bound by their imagination. Those that decide to actively participate in the housing sector are given the chance to carve out their own path in a way that compliments their individual approach. However, regardless of the path you choose, it never hurts to solicit the advice of those that have come before you. There are proven strategies that can give you an edge over your competition, each of which warrants your consideration.
The average investor will have aspirations of growing their business to a level that supports their desired lifestyle. However, such a goal is easier said than done. There are several steps you need to take to make sure your business grows. The following highlights three insider tips that are guaranteed to give your business a better chance of realizing its full potential:
Don’t Resist, Persist
Perhaps more so than any other career path, real estate investors are tasked with overcoming barriers. Aside from the physical barriers that literally block you from a property, there are equally daunting mental and psychological ramparts that impede the progression of a deal. However, once again, real estate is what you make of it. To overcome seemingly impossible odds, you must remain persistent in the face of adversity.
According to Melissa Zavala, one of the nation’s foremost real estate brokers, “don’t resist, persist.” While relatively simple, such a business strategy can have overwhelmingly positive benefits for a company that knows how to implement it.
Real estate investors are constantly confronted with opposition. Around every corner is a competitor trying to work another angle on a deal you are trying to secure or a reluctant seller saying “no.” However, regardless of the situation, if there is any chance of closing a deal, you need to remain persistent. Zavala advises investors to never give up. Instead, remain persistent in pursuit of your goal. At the very least, the word “no” should force you to work harder and find something that works. Use it to light a fire in your business.
Unfortunately, many investors have to remain persistent in the presence of those who are unfamiliar with their situation. More often than not, employees who lack the authority and knowledge of a particular deal are counted on to resolve your issues. Through no fault of their own, deals that should be simple are complicated beyond measure. This is not an ideal situation, as these people often control the access to those responsible for making decisions. But investors need to be persistent. If you are having trouble getting past low-level employees, try approaching from another platform – a social media platform.
Zavala’s number one secret for getting past “gatekeepers,” as she calls them, is to take to Twitter. She acknowledges two very specific methods that should get the attention of the people you need to speak with: post questions and complaints. If you are not getting the answers you want, send a direct message to the company and ask again. Subsequently, if that doesn’t work, direct your complaints to Twitter. Most major companies monitor their social media accounts very closely and would rather resolve your issue than have it go viral. This is your chance to get your point across.
Reserve Judgment & Practice Forgiveness
Real estate trainer John Wenner and lawyer Darity Wesley focused on two aspects of the same concept: judgment and forgiveness. Used appropriately, these character traits can help your business reach its full potential.
By Wenner’s account, an agent’s judgment can cloud their thoughts. In fact, Wenner believes that proper negotiations can’t take place without an agent checking their judgment at the door. Assuming anything that is unfounded is a quick way to make sure the deal goes south in a hurry. When you conclude that you are smarter or more capable than your client is, you are creating a barrier that ultimately changes how you communicate. The most common result is conflict.
Drawing upon the same concept, Wesley describes forgiveness as “putting aside or stopping yourself from engaging in anger, resentment or indignation.” Essentially, with forgiveness in place of judgment, it is much easier to approach a solution. After all, as a real estate investor, you are in the business of providing solutions for people. Don’t forget why you are in the position you are in.
Don’t Be Afraid To Be Different
There are no two ways about it, the real estate market is saturated with agents and investors that want to capitalize on the opportunities it provides. While there are more than enough properties to go around, it does not hurt to stand out. Every advantage you can give yourself should be taken. Separating yourself from the crowd, and your competitors, can be one of the best moves you make as an investor. Investors are advised to brand themselves in a manner that makes them stand out in a positive light. It may be all that separates you from your competition or that makes someone want to work with you.
Instead of branching out and trying something that is otherwise unfamiliar, consider attributes you already exhibit. Celebrate your personal uniqueness to attract the ideal clients and personnel to your business. Believe it or not, people will want to work with you based solely on the fact that they like you.
While it can be easy to get carried away in the process of standing out, it is important to remain focused. Do not become complacent and disregard common sense. While standing out can be great, you do not want to do so for the wrong reasons. Make sure your attempt to be different is beneficial to the growth of your business and not a crutch.