What value do you put on your image?

[Jason Ridout]

I worked in the automotive repair industry for over 15 years where my image was not of major relevance. Employees wore coveralls and had no personal dealings with the public. You don't need to look like a rockstar to fix cars.

When I became an investor and then got my real estate license, it was a bit of an eye opener. I always dressed in clean clothes and shaved, but coming from the automotive industry I never understood the value of how you present yourself. Now I buy decent clothes that fit well and make sure I'm well dressed anytime I'm seen by the public. I have started priding myself on being the best dressed person in a room. People notice the bested dressed person in the room. Like David Greene says, he doesn't have to wear a suit when he sells houses, but it makes the job that much easier.

Where do you draw the line? I used to view spending $75 on a nice shirt a total waste of money, but now I feel confidant and people are more willing to believe you are a professional by looking the part. That $75 shirt might earn the trust of a client that earns me thousands of dollars. Now I'm looking at my car. It's a 2011 midsize sedan (think Honda Accord) and it looks presentable. Is that adequate? If I'm a successful investor and top realtor, wouldn't I drive a nicer car? Are top realtors successful because they drive a nice car, or do they drive a nice car because they are successful?

I'm not a fan of dumping $20,000 on a car that is just a liability. I'm happy in a $4,000 simple car, but what image am I presenting? 

My friend, who owns over ten investment properties now, drives a $500 Dodge Caravan that has dents on every panel. It looks awful. I think it's great that he focuses his money on investments, not liabilities like cars, but what do other people think of him? Is a contractor or fellow investor going to take him serious?

How much is my image worth? I won't go dump $50,000 on a car, and anything I buy would be a cash purchase (thanks investments!) but even at $20,000, is that money better spent by parking it in more real estate, or will the confidence people gain in me by driving a nicer car have a better ROI?