There are many threads to the coat of the real estate investor. Recently, I noted the three pillars of a successful real estate practice, marketing, automation, and delegation and emphasized the importance of empathy and ego as well. With the pillars in place, to insure the strong balance of empathy and ego, comfortably and credibly delivered, you need a plan of action, a positively charged blueprint for winning the hearts, minds, and business of those sellers and buyers to fuel your success. Success is so much more than investing dollars, acquiring assets, and connecting with coaches. Learning from mentors is a rich resource indeed but all these steps may provide some moderate success but not that consistent, repeatable, and considerable success that comes only from the mastery of winning their business, an art form of salesmanship unto itself.
You don’t buy it, you can’t just make an investment and it’s there, it’s never just giving you something “on a silver platter”. You must envision it, plan it, develop it, mold it, fashion it, refine it, and offer it.
I remember coming to this Country years ago and reading a well offered sports adage widely and wrongly attributed to Green Bay Packers Coach, Vince Lombardi, “Winning isn’t everything, it’s the only thing”. The worst mistake you could make is to have that attitude with your business. For you to be and remain successful, you need not succumb to the competitive arousal of the moment with the motive of self-interest, seeking short term gain, losing perspective and not caring more about those you do business with than yourself. That selfish approach will be self-defeating and the ultimate death knell of your business. Making foolish or greedy decisions that do not put others first will come back to haunt you. Winning is never everything but winning their business can be.
One way to win their business is to play to your strengths and overcome your weaknesses. Always be yourself and be honest and transparent, phonies are discoverable and easily dismissed. Always be real. Under promise and over deliver. Never paint yourself as someone you are not. Never make promises you cannot keep
There are some practical strategies to employ. Narrow your sights and refine your chosen niche. Be great at a few things, you can never be great at too many. Build your brand with competency, production, and trust, built upon performance and ongoing success. Cement that status with referrals and testimonials. Learn to avoid fights you cannot win. Know when to call it a day.
Know and appreciate the absolute need for productive lead generation. Make sure of your time management and separating pretenders from prospects. Never allow leads to go cold. Have the attitude every single lead is a sale until they are not. Leads have a limited shelf life and you must always overcome suspicion, disbelief, remorse, and competition. You must prioritize a repeatable, consistent, nurturing strategy to your follow up. It can take seven or even eight attempts to succeed with a lead. Always recognize that there is so much competitive overload, seeking the same deal, and too much information overload to batter and confuse prospects. You must find a way to stand out and have them take action with you. Always follow up consistently and regularly. Follow up remains the most ignored aspect of most investor efforts and often the most costly in resources wasted and revenues lost.
There are skills to hone as well. By improving your listening skills, you will better understand the wants and needs of those prospects you seek to do business with and through good communication, convey empathy, that you recognize and understand their predicament, and by building rapport and trust with them, become their white knight and the solver of their problems. You must present yourself as outgoing, caring, confident, knowledgeable, selfless, accessible, involved, and skillful. Their problem solver. Again, you under promise and over deliver and they trust and have confidence in you.
You need to implement your best practices to service their needs, be honest, transparent and forthcoming in all that you do, competent and productive, always keeping them in the loop. Never allow them to feel ignored. Treat them with appreciation and respect as you create value for them.
The old sales adage is true. Always be marketing, always be selling. Do that in a way that benefits those you deal with and you will win their business.