My greatest joy is talking with successful real estate buyers I have taught. It makes my day to hear their cheerful voice telling of their latest conquest. Fortunately, Alexis and I get to do this daily.
Conversely, my greatest disappointment are those who have taken our training and disappeared. I shared this concern with a friend of mine that is a psycologist. His first question was, “The failures, did they do what you taught them?” I replied no, because if you are failing at my system you must call and talk to our consultants and we will get you on track. Anyone who has followed this advice has not failed.
His second question, “The successes, do they do what you taught them?” Yes, they do.
“Then why,” he continued, “are you upset? All you can do is give them a method and a support team to make them successful. Ultimately, it is their decision.”
Well that took care of my guilt – for awhile. This column will help assuage it further.
Even successful property buyers have weaknesses, the difference is they are able to overcome them. There are four weaknesses I have seen that are the biggest demotivators. Here they are with some of the things I do to beat them.
Problem:
Fear. Fear of what will happen. Fear of rejection. Fear of failure. Fear has ended more property buyer careers than any other single factor.
Solution:
In me, pressure and paranoia cause fear. Remove them from the equation. Remove the pressure by not letting your self-image be that you close every deal. Even Donald Trump doesn’t close every deal. Don’t question why you are not closing deals until you have spoken with 25 sellers. This puts the focus on meeting sellers and talking. If you have talked with 25 sellers then you can work on closing. Of course, if you happen to make a great deal in the mean time….
Problem:
Failure to structure the deal in the terms of the seller.
Solution:
Their own cash bedazzles buyers. Instead of taking the time to talk with sellers and develop rapport [see Problem One above], they just start talking away about all the cash they are going to give the seller. What they end up with is a bored, disinterested and belittled seller.
Worse, the buyer who “over-structures” the deal, leaving the buyer confused. I’ve found my best method is to meet the seller at the door then have him show me the home. During the tour I try to find out what he needs.
Problem:
Failure to learn to ask questions, listen to the answers then formulate solutions.
Solution:
When touring the house, you will see all sorts of things to get the seller to talk – hobbies, memorabilia, deferred maintenance and inconsistencies.
With proper questions you will build rapport, turn the focus to buying the house and find out why the seller is selling and what he needs out of it.
Don’t focus on the monetary value, focus on the solution to his need. Once you convince the seller you are have the solution to his problem you own the house.
Problem:
Failure to realize you are responsible for your own success as a property buyer
Solution:
Property Buyers are responsible for training themselves for success. If your buying career is not going the way you want it to, you must take control by going to seminars, buying tapes and reading books to learn how to identify and correct what ails you.
