How to Turn a Investor from a Maybe to a Yes!

[Brandon Auberry]

Hey Everyone!

I am looking to gain some insight into my business.  I am a real estate investment agent and I have been working with many buyers.  I have recently been running into the issue of having investors go out to a deal with interest and then talking themselves out of the deal on the way home.

If you have run into this issue before as well and have overcome it, what are some good strategies to secure the deal before leaving the driveway?  I am generally very nice with my investors, do I need to become more hard-headed and push them more or is it rather an issue of my preparation before going to see a property?  All my investors have been vetted so I would think they should be grabbing all my deals.

I'd love to hear some success stories or advice so please share with me anything you think could help!

Thanks in advance!

Cheers!

[Ke Nan Wang]

While this might not be the cure you're looking for, I'm sure you will find many pieces of advice from others that address your question.

I'm just going to share my thoughts here because I don't think it's emphasized enough, and mostly I've had to learn this through experience:

Investors are on the lookout for deals. If you find a screaming good deal, you won't be short of buyers. The real estate (RE) coaching industry tends to train agents to work their clients but often neglects what it takes to become a standout agent. Obviously, one needs to have both the competence and clients to be successful, but I rarely hear any coaching program teaching agents how to be effective. Anyone can push paperwork, follow the law, and abide by the code of ethics—that's the easy part. The true craft lies in knowing the market inside out, having a Rolodex of connections (wholesalers) to source deals, or going out there, boots on the ground, cold calling property owners to find deals yourself. This is what matters to an investor: finding a deal with substantial potential profit. If they talk themselves out of it, the deal likely isn't good enough. Sure, you might learn some manipulative tactics and trick someone into buying something in the heat of the moment. Assuming they pass the inspection period and close on the deal, if the investor ends up with a bad deal and suffers buyer's remorse, do you think they'll recommend you to others? This is the main skill a RE agent needs to work with investors. On the other end, if the RE agent is working in retail market, then deal finding skill is a bit less important than follow protocol, ethics, communication, attentions to details, and being resourceful to solve problems.