Competition is part of doing business. No matter what you choose to do, you will find yourself competing with someone else for the same market share. Real estate investing is no different. It is a popular pastime because of its money making potential. To be successful in real estate investing, you have to be better than your competition, so how do you make yourself stand out?
Your reputation is the single most important marketing tool you have in your business arsenal. It is the way people remember you. It is the words they associate with your name. It is the way people talk about you to their friends and family. People remember the way they are treated. Do you continue shopping at stores that sell outdated or damaged products? Would you use the services of someone who does shoddy work? Of course not, and neither does anyone else.
There’s a reason mechanics have a reputation for cheating customers. It only took a few bad mechanics to take advantage of their customers’ automobile ignorance and charge them for unneeded parts and services before people learned to be wary of them. For most people, real estate is their greatest financial investment. Whether you rent or sell your investment properties, you play a significant role in the security if your clients. You should always be honest with your clients and never give misleading information about a property. Disclose information about your properties that buyers need to know. You want your clients to know they can trust what you say.
If you’re like most people, you shop at the same grocery store each week. You know exactly where to find the bread and eggs in that store. People don’t like change. Your clients want to know what to expect when they deal with you. Set a time frame for returning phone calls and stick to your plan. Choose your workforce carefully and use the same people as much as possible. Follow through with your promises, and don’t promise anything you cannot deliver. Do whatever you can to be consistent with each of your investment properties. Clients who know what to expect in your deals are more willing to refer their f