goes on and on and on… Shouldn’t we be kind? Of course! But that doesn’t mean that we,
as investors, should set ourselves up for failure! Be confident, and not in the sense just that
you know what you’re talking about, but in the sense that if a seller (or a buyer) opts to
work with you, they are doing the best thing for themselves that they could possibly be
doing.
Contrast these two scenarios:
In scenario 1, you meet a motivated seller at their home. The seller is facing foreclosure and
hopes that you will buy their property fast and for cash. You lay out the terms of your
contract, apologizing in advance that you cannot promise to get a buyer and that you can’t
buy the house yourself if your marketing falls through, but you assure them that you’ll do
your best. You also go ahead and point out that they deserve more than you’re offering, but
it’s just the best you can do. The seller says she wants to read over the contract and you
meekly leave. You never hear from her again, and eventually you learn that the house went
into foreclosure and the seller and her family were evicted by the bank.
In scenario 2, you meet the same motivated seller at her home, but in this scenario, you
explain confidently that you routinely purchase properties fast and for cash and that you are
sure you can come to an agreement with her on the price given the huge advantages
working with you offers. She questions your low price, but you point out that you’re offering
cash and a way out of foreclosure, so of course some things will not work like a traditional
market sale. She also asks how much money you will make on the deal, pointing out that it
is “her” money after all. You explain calmly and respectfully that you are an investor, as you
told her, and that this is how you feed your family just like she goes to work to feed hers.
You gently return the attention to your contract, which she eventually signs. You use your
marketing techniques to find a buyer and in a month your seller is moved out, cash in hand,
and you have your cash in hand as well!
The difference is obvious in these two scenarios: in the second scenario, you didn’t
apologize for your business! There is nothing wrong with making money in real estate – no
matter what the media tells you – and while your sellers and buyers deserve your courtesy
and your most professional demeanor and best business dealing, they do not deserve the
profits from your hard work! So don’t apologize for making those profits (or for setting
yourself up to make them) and you’ll soon find your deals are coming to fruition far faster
than you previously thought possible.
Have you got expertise to share? Email [email protected] and your skills and
knowledge could end up in the next edition of “We are GA REIA.”