How Real Estate Investors Build a Strong Reputation
As a real estate investor, one of your many goals is to become well known in your industry. Logically, this could lead to more abundant opportunities and better deals. Of course, the psychology behind these assumptions is based on the fact that you want people to either sell to you or buy from you. Both of these situations involve reputation on some level. In essence, when someone buys or sells from you they are buying your credibility or selling to you based on the same premise. without a solid reputation, people may be hesitant when it comes to doing business with you.
This is the main reason why reputation is a fundamental necessity when it comes to being successful in the real estate investing business. As a result, there are several considerations you should keep in mind when it comes to building and managing your real estate reputation.
Common Sense Tips for Building a Solid Real Estate Reputation
Every time you agree with someone your reputation is on the line. This is why much of the advice for building and sustaining a good reputation is based on logic. Follow common-sense advice;
Your word is gold. Do what you say.
Don’t do poor-quality work.
Don’t promise more than you can deliver.
These are all common-sense guidelines that should be the foundation of all of your business dealings.
Not So Common Sense Tips…
The above-listed tips for building a solid reputation are steeped in common sense. Most of us understand these values. However, there are tips specific to the real estate business that some investors may not be well aware of;
Make sure that the deal is firm.
Close predictably and reliably.
Be honest about numbers. Don’t deflate or inflate.
Be transparent. Don’t trick people.
Don’t try to get over on people.
A newbie investor may be less aware of the fact that you should make sure that you’ve firmly secured a deal under contract or in some way before planning and moving forward. If you tell someone you’re going to close on a property make sure you follow through and make sure that your dealings with everyone involved are transparent and clear. All of these tips help you to build respect amongst your real estate peers.
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