​Building a Better Real Estate Business Through Improved Communication

As an investor entrepreneur, you’re probably very interested in learning how you can improve your real estate business. Why? Because you want to be the best at what you do and make as much money as you can!

Chances are, you’ve heard all the standard tips, like find a good mentor, build a solid network, and always do your homework before a closing a deal.

What you may not have heard, though, is a tip that’s surprisingly simple, and it involves something you already possess: your communication skills

Now you may be thinking, “Pssh, I already know how to communicate well. I do it every day!” But the fact is, most of us are not born great communicators. It takes time, practice, and focused effort to become really good at communicating. And I will tell you this: investing in your communication skills is just as important as investing in your next piece of real estate. Trust me when I say that learning to communicate better is a worthwhile endeavor that can benefit you in numerous ways.

Here’s how it can boost your real estate business:

More and Better Deals

When you’re operating on a higher level of communication, you’re automatically in the path of more investment deals. Improved communication increases your likelihood that people will a) remember you, and b) want to work with you. So naturally, it follows that more high quality deals will come your way.

Save Time

How much time is wasted due to poor communication? More than you realize. Just imagine if every conversation you had was concise and to the point, with all the critical information outlined and easily understandable. You’d save tons of time! And as we all know, time is money.

Increase Profits

Can improved communication actually increase your profits? Um, yeah! Time savings translates directly into bigger profits, but it goes further than this, too. If you’re communicating effectively, your profit potential increases simply because you know how to work deals in your favor. You know which angles to take, and the right things to say to get the pendulum swinging in your direction.

Smoother Negotiation Process

The negotiation process is all about communication between buyer, seller, and other parties involved. People with great communication skills have this process down to an artform, making an oftentimes painful interaction relatively, well, painless.

Better Reputation

Your reputation in the business is largely centered on your communication style. Of course there are other factors at play, but how you interact and speak with others tells people plenty about your character, both personally and professionally. If you work to be a better communicator, this gives your reputation an automatic boost. People will know you as the investor who actually listens to what others are saying, who thinks before they speak, and who means what they say.

In order to reap all these rewards, though, you’ve first got to learn how to communicate. There are a few tricks that people use, and while they’re not top secret or anything, you’d be surprised at how many in this industry aren’t utilizing them.

Listen

Perhaps the biggest component to being a good communicator is learning to listen, and I mean really listen. So many of us make the mistake of talking to another person but not really hearing what they have to say back. Or worse, talking over them. The next time you’re talking shop with someone or negotiating a new deal, take the time to truly listen to what they’re saying. Don’t constantly be thinking of your next response, or something you’d like to interject into the conversation. Really focus on them and what they’re saying before you add your own two cents.

Read Their Body Language

Body language is another piece of the communication puzzle. Paying attention to another person’s physical cues can reveal much more than the spoken word. Body language can clue you into their thoughts and feelings, so that you can respond accordingly. For instance, if you’re working with a seller and they are avoiding eye contact or standing rigid with their arms crossed in front of them, they might be feeling uncomfortable or defensive. You can then work to put them at ease and hopefully build a better rapport.

Problem Solve

Another aspect of great communication is having the ability to isolate problems or conflicts, and then problem solve as you go. Being able to navigate and then overcome obstacles is a definite plus, and others will appreciate your ability to discern conflicts before they happen so that preventative measures can be taken. This creates a win-win situation for everyone.

Think Before You Speak

So simple, yet so rarely used. Far too many of us are so busy blabbing the first thing that pops into our heads, that we lose our audience - or worse, alienate them. Take the time to really think about what message you want to deliver so you can frame it in the best way possible. Focus on the important stuff, and don’t get mired in unnecessary details and filler. You want to be direct, succinct, and always mindful of how your words can alter the outcome of the interaction.

Great communication is one of the cornerstones of good business, so use the tips above to improve your skills and take advantage of the benefits that come with it.