Fake it till you make it?

Question

When starting out in real estate investing, Should you "fake it" and "pretend" you are more experienced than you are to ease a potential prospect's mind or should you be transparent with your complete lack of experience.

When I say "fake it", I don't mean blatantly lie but just omit the fact that this is your first time and paint the image that you are experienced.

Alexander Felice · Answer

I do not recommend this method at all.

First, you won't be able to fake it around anyone who really knows what they are talking about, making you come across as just fraud.

Second, there is massive value in authenticity and transparency, embrace that.

It's one thing to fake confidence, it's another thing to fake accomplishment. Not to mention, how experienced are you going to "fake" being? A guy with one house instead of none? This will not add to your credibility anyway. Or are you going to pretend to have 50 houses instead of none?

anyone who can really help you is going to do so because they believe in your potential, so show them who you are and what you're capable of.

Frank Wong · Answer

Hi Thomas,

Never fake it till you make it.  People who really know what's up can easily see it as Alexander said.  What you lack in experience you can make up in hustle.  Everyone starts at zero at something.  It's your hustle and character that will really shine.

When I first started as an agent.  I had no clients no sales no experience young kid and nervous as hell but I wasn't going to lie and tarnish my character.  Instead, I made it up by always being available for my clients and picking up my phone every time and doing whatever it takes.  Whatever it takes means 24/7 taking calls at 10 pm waking up at 5 am to look at properties etc.  This way your client knows you are hungry and will jump over a mountain for them.  Sometimes that means more to people than experience does.

Here is something my sales mentor taught me. If someone asks you a question and you don't know.  Don't lie or wing it and make something up.  Just tell them " I don't know but I will find out and get you the answer".  You have no idea how powerful that is.

Lee Bell · Answer

If someone asks you a question and you don't know.  Don't lie or wing it  and make something up.  Just tell them " I don't know but I will find  out and get you the answer".

Yes to this. And when (not if) you make a mistake, admit it and do your best to fix the damage.

Mike Dymski · Answer

Many people spend their lives faking it...to everyone, including themselves.

Caleb Heimsoth · Answer

@Thomas Moulton there’s no reason to fake anything.  If you’re educated and know what you’re talking about (even if you haven’t done any deals) then people will think of you as experienced.  Then you do deals and become experienced and you’re good to go

Sean Lynch · Answer

Account Closed

Agree with what was said above.

My 2 cents - Be confident about your approach and be confident about how committed you are to making your goals a reality but don't try to sneak through, it will hurt you worse in the long run. Be willing to take advice and criticism, welcome it with open arms. That's how I've been able to get people in my corner. They are investing in who you are and what you're about so be passionate and open about what your goals are. Be confident about the traits and abilities you have that will help you along the process but honesty is the best policy here when it comes to experience.

Perfect example, I met with a seasoned investor for drinks one day just to build a relationship and I still pick his brain on and off 3 years later. Even if they don't jump into business with you right away, the fact that you can call them up and ask them questions as you run into problems down the line is well worth the effort. I was open about my experience then and feel like he's been rooting for me ever since. Can't buy that kind of support IMO and would have never happened if he thought I was faking it.

Steve Vaughan · Answer

I like faking it the other way.  Nobody likes a know it all.  Nobody wants to sell to the rich guy that takes advantage of people.

Ask questions and be humble. Get to know them as they help push start your beater.  That kinda thing.

Jacob D Cockerell · Answer

@Thomas Moulton

I'm just starting out myself and asked myself the same question. My conclusion is no. Learn as much as you can but be honest. I wouldn't advertise you are new necessarily but if you act like you know more than you do it is liable to show. So much in this market is reputation and building relationships. to me acting like you know when you dont comes across as unwilling to learn, and I think people are more understanding of newbies who are willing to learn than those who aren't.

Michael T. · Answer

Account Closed when you say "ease a potential prospect's mind" because you have a complete lack of experience that would be a concern to me.

It's okay to be honest and transparent.  You don't have to give every detail but don't be honest and upfront.

Brian G. · Answer

@Thomas Moulton

A well known Theologian once said something like “a wise person doesn’t need to have all the answers he just needs to know where to find them.” Educate yourself and over time you will develop a team of people (your network). As your team grows you will be able to leverage their expertise, this is called relational capital. Being connected with other very competent people will give you added credibility over time. Mortgage broker, RE agent, PM and CPA are examples of team members. RE is a TEAM sport!

Fake it till you make it?

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