Originally Posted By John Dessauer On April 2, 2016
One of the most important skills a property investor can possess is great sales ability. Being a good salesperson will not only help when it comes to selling your real estate investment, it can also enable you to wrangle better deals with prospective clients. Great sales ability can also help a real estate investor continue to make good money when economic times are lean, and profits are potentially few and far between.
Like a lot of skills that deal with the social aspects of life, good salesmanship is largely self-taught. Of course, you can learn the basics from an instructor, but you will need to discover your own special way of personally implementing the teachings and mastering the art of being a great salesperson.
If you are just starting out as a property investor, be sure to develop a good understanding of the complex range of client behavior. Learn to emotionally connect with your client and anticipate their questions and concerns. This is what will ultimately guide you to be a great salesman within the realm of real estate investing.
As a property investor, you will want to develop a solid sense of trust with your clients so they will feel comfortable doing business with you. Learning how to build this special rapport is critical to your future success and may take quite a bit of practice. If a prospective client does not like you or your methods, they will perceive you as someone untrustworthy, planning to steal their real estate for an unfair price. Win your client’s trust in the very beginning and you will be able to negotiate fair prices and profits for yourself and your client.
Your prospective clients will have specific needs you must meet, and fears you will need to address. For example, when investigating potential foreclosures, winning the confidence of highly-stressed property owners nervous of making a life-altering decision should be your first objective. Making a fair profit from the deal will be much easier if this is accomplished as soon as possible. In less stressful real estate situations, you will need that same client confidence to negotiate smoothly and to generate a good profit for yourself, without pushy sales tactics that may harm your reputation.
Always try to be as honest as possible with your clients, and speak very plainly in a way they can understand. Explain everything and don’t use terms that may be unfamiliar or unclear. If your potential client is a foreigner and doesn’t have a good command of your language, enlist the assistance of a translator to help with negotiations.
When you begin to implement your sales training, you should strive to satisfy your clients within reason and give them as happy an outcome as possible. Even if you don’t make much profit during this crucial time, you will be gathering valuable sales experience, and more importantly, building a good reputation that will bring you many clients by word of mouth. Building those first relationships with clients may be the most vital of your career as a successful property investor.
“Remember, wealth has nothing to do with money, success has everything to do failure, and life is as simple as you make it!” – John Dessauer