As with many careers, persistence is a factor that goes a long way toward success. Whether you’re a real estate investor full-time or you’ve just begun investing part-time, operating with the power of persistence can benefit you greatly.
Persistence in Real Estate Investing
As an investor, you want to sign as many deals as you can, as each deal is going to bring you income. Signing deals mean you’ve got to get leads and follow up with those leads. Now some people won’t be persistent in following up. They’ll have one conversation and determine that the seller is not exactly motivated to sell at a discount and leave that seller alone.
But an investor who understands the power of persistence will keep that seller’s contact information and follow up regularly until that seller has sold the home (hopefully to them!). That investor won’t give up after one or two conversations, understanding that as time goes by, that seller will become even more motivated to sell at a discounted price.
Be strategic when generating leads, as forming a strategy will set you apart from other investors who are hit and miss with their tactics. Understand that emailing the same type of information over and over again isn’t usually that effective. What does work is calling them and being real with them? Have a conversation with them and ask them about their home. Ask them why they’re selling the property and if they’re in some sort of life crisis that’s causing them to sell their home, empathize with them.
See, sellers want to know you actually care about them and their home. They don’t want to hear a lifeless script about how your business is this and that. They want to know that you’re interested in really helping them out.
If you get a “no,” just remember that sometimes that’s the way it goes, but each “no” is closer to a “yes.”
Tips for becoming persistent
You can learn to become more persistent over time. It might feel a bit uncomfortable at first, but the more you practice persistence, the easier it will become. Here are some great tips for operating in the power of persistence, and thus, getting more leads and deals:
- Be passionate
You’ll be more persistent when you’re passionate about what you do. Even if obstacles come your way or you do not see the results you desire, allow your passion to keep you going. Remember your “whys” for getting into the real estate investing business and will enable them to fuel your passion.
- Do it anyway
Regardless of how you’re feeling, follow through with your strategy anyway. Sometimes things can become monotonous, or you just aren’t feeling up to par, but operating in the power of persistence means you commit to working your strategy anyway.
Keep your greater goals in mind as you move forward. Persistence is terrific, but if you’re persisting somewhere where you’re not really going to benefit, it could be a waste of time and energy. Being persistent means making an educated decision as to where you’ll put your time and energy. If one lead is causing you a lot of grief and that’s affecting other areas, maybe let that go for a bit and focus on other leads. Re-prioritize and update your strategies as necessary. Think about long-term potential.
The power of persistence can be the difference between good deals and amazing deals. Good news is that you can learn to be more persistent and practice, practice, and practice. Persistence carries great power and is one trait that can certainly increase your earning potential and level of success.