Hello investors and friends,
Being in the field of real estate, we no doubt realize that real estate is a people business. Homes were made to provide shelter to people, so naturally it should be that the main focus of getting any business whatsoever should be the constant study of people and what THEY want. We obviously know what we want…prosperity, financial freedom, a feeling of important, etc….but it is what the people behind the property want that will make or break a business transaction.
This also holds true for people who seek to buy properties, and are not owners themselves. If you are a wholesaler like myself and my company, New Haven Homes, LLC (http://newhavenhomes.wordpress.com), you realize that it is important to know what your wholesale buyers want and expect from you when bringing them an opportunity. Some may like to do all the analysis themselves, so a street address and a signed contract is all they need to begin their own due diligence. But often times, your buyer wants you to do a lot of the leg work for him/her, and wants evidence that you did what you say you did. Know what your buyers want, and they will come back to you.
The key to knowing what your sellers and buyers want is very simple. LISTEN TO WHAT THEY WANT! Ask questions to figure out their motivation for selling their property at a steep discount. Ask questions to your buyers to determine their criteria in a property, location, and price range. If you do not know what your buyers and sellers want, then how can you hope to have repeat business in the future, let alone any business is the present.
This is a learning process. It is often so easy to talk about oneself and forget the real reason you are on the phone with a prospect or client. I challenge all who read this to pick up your stack of business cards and begin to call them. Ask open ended questions that require more than just a yes or no answer. Listen to what they say, and write down what they say so that you can remember for the next time you speak with you. Do this exercise for each business card you get from here on out, and you will be amazed with the results of what a little listening can do for your business, and your personal life.
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