G-SIG - Real Estate

Ok so back to what I was saying before. There’s one last key element that most new investors are missing, and one that all seasoned investors have. And that element is relationships. Think about it. Would you rather sell a house to a friend of yours who have done many deals with you in the past that you know will close on the sale, or sell it a random guy you never met before whom you have no idea if he/she is going to actually close.

You see where I am going. There’s only so much you can do on paper. You can have a great offer, a great price, good terms, basically everything a perfect offer would need – but still, you will be cut out. So the question is, how do one build this credibility and gain the trust of the broker to receive some great deals. Well that’s actually easier than you think; just do more deals! When you actually buy the house and close on it, it tells the broker that “Hey, I am for real here. I want to buy more properties and an you are going to make more commissions”. When you continuously close on homes, it’s only natural that a relationship builds between you, and the source of those properties. (If not, try getting to know the brokers/source more. We are more than just a business front. We are people, like you as well!)

“But doesn’t this mean I will have a disadvantage if I am new to submitting offers?”. Quite frankly, yes. It will be less likely your offers are accepted over others, but real estate is relationship building business, and relationships don’t happen overnight. (Unless you believe all that stuff in the movies) It takes time, and even if you are at a disadvantage, you WILL eventually get an offer accepted. Submit 100 offers using the rules I set forth in the previous post and I could bet you that you will get at least one accepted. It’s all about that first deal. Get it done and get it done ASAP. Afterwards, everything will start coming together. It’s like the initial energy needs to begin a chemical reaction. (If you can understand this analogy) It will be hard to begin, but as it starts moving along, things will get smoother and more efficient.