12 Characteristics of Successful Real Estate

by Editor

In the business of Creative real Estate Investing, we are constantly focused on the characteristics of the properties we are looking to invest in. No matter how hard we study, and how much knowledge we have, we still come back to the basic fact of how important our own attitude and character plays in the big scheme of things. Building a rapport with your sellers is an art within itself.

• Consideration
• When you approach a seller be considerate, have manners, show them that

You are concerned about their needs, wants, and desires.

• Respect
• When you respect yourself others will sense that, and it will show in your

Mannerisms when you approach a seller.

• Friendly
• Smile and take an interest in them.

• Clear Communication
• Speak clearly and slowly so they can understand you.
• Look them directly in the eyes when you speak.

• Serenity
• Believe in what you do. Put full faith in your service for others and your

attitude and character will reflect that.

• Honesty

a) Give them full disclosure on: What’s In It For Them?

• Empathy
• Listen carefully to what they are telling you about their situation

(Especially if the seller is in default).

• Promptness
• Show up on time. Also respect the seller’s time by getting to the point and being succinct.
• Also you want to respect your own time, by gathering the information you need on the property, building a rapport, and then setting an appointment to return and present your offer.
• Efficiency
• Make sure you have done your homework, and have a good feeling about the information you are about to present.
• You have the correct forms to fill out, and are prepared to ask the right questions that will help you when you do you due diligence on the property.

• Flexible
• Look for signs of flexibility on the seller’s part. If you are dealing with sellers who “must move” instead of “might move” they will be willing to be more flexible.
• Also make sure the seller knows that you are flexible and negotiable, and if they don’t accept your first offer, find out what they are willing to do.
• Ask them what is more important “terms” or “price.”

• Attentive
• Make sure your sellers do not have a lot of distractions going on when you meet with them. If they do, find out when they may have a better time available when you could come back and present some of your ideas.
• Make sure you also don’t have some of your own distractions. For instance, turn your cell phone off when you are going over important details with your seller.
• Presence
• You never get a second chance to make a first impression. Greet people with a warm smile and a handshake.
• Dress neatly. Dress nice, but casual. You don’t want to intimidate someone by overdressing, or under dressing and appearing too tacky or nonchalant.
• Present yourself as a people problem solver…not a purple people eater! People who really need your help will appreciate your kind service.

Fear: “False Evidence Appearing Real”

I found in my dealings in Real Estate that it is definitely a people business. In order to find transactions that are workable, you need to get out there and constantly talk to people. You learn from other people, just by being willing to get out there and look at properties. If you are afraid of talking to people, sit down and make a list of the reasons why you are afraid to make calls. Get out viewing properties and talking with the owners. I believe the definition of fear is: “False Evidence Appearing Real.” I have talked to other investors that think getting out and talking to people is a waste of time. It doesn’t matter what property I’ve gone to visit, I have learned something from every one of these sellers (whether it was about me or the actual negotiation process).

“Life is a process, and you must live in the moment, or you may miss valuable information.”

Sometimes life is simply just telling us to be patient. Everyday that you rise, ask yourself: “What can I learn from each person I talk to today.” “What can I learn about myself by talking to this person?” Go home and analyze your discussion, and figure out how you could make the process go better next time. And also remember to be gentle with yourself, but at the same time “charge forward.” The learning process will be full of mistakes; it’s just a matter of how you handle them. Maybe you’re the type of person that knows you make mistakes, but you never take the time and effort to correct them. In order to become a better person, you must be aware of your mistakes and take the time to correct them, or they may come back to haunt you in another life. I find that as I reach towards becoming a better person, doors open much easier, and difficult questions are answered. As you move forward towards building you business, always be prepared to make changes for the better. A business without change is a business without growth.

Once people realize you are a person who can be trusted…well, you’ve put yourself in a position to start receiving referrals

Lately, in my own personal dealings, I have had several referrals and just recently, was able to pay my first referral fee! I am at the point now, where I am working solely on referrals. When you do a good service for someone, they always remember you.

To me money is only “leverage.” Leverage to get the things you always wanted to get and to do more of the things you always wanted to do. If you’re a beginning investor with little cash to invest—build your cash cow slowly and surely. As you create more positive cash, remember…you’re creating more leverage for bigger and better deals.

Don’t let negativity stop you!

Some day’s negativity shows up on your doorstep in the form of a green slime, and it will even try to seep in under your doors and through you windows! Other days every mistake you ever made in your real estate investing will all show up to haunt you all on the same day! Believe me, I’ve had those days! Try to surround yourself with positive people. Join a real estate investment group in your area, and network with other people in the same business, and certainly don’t build your professional team with negative professionals!

When involved with real estate investing, just remember, turn those lemons into lemonade! Make someone glad they spoke with you today

-Editor