Advertising and marketing are vital to your investment business. Once you attract prospects with your marketing, you can begin a conversation that will hopefully lead to a deal. You’ll also need to develop a specific communication style and incorporate techniques to connect with and retain your new clients.
One of the secrets of success in any business is being in the right place at the right time. Oddly enough, this happens several times a day without your knowing it. That person you smile at on the way into the elevator—or even the barista who serves your caramel macchiato—might be a motivated property owner hoping for an opportunity.
How can you connect?
It’s unrealistic to say you could stand on the street corner, flash your pearly whites and introduce yourself to everyone who walks by. You would be seen as obnoxious if you tried to shake hands with everyone you pass. There are, however, subtle ways of letting people know who you are and what you do.
Your first objective is to be visible. People can only connect with you if they know you’re there. Even if they’re personally acquainted with you, unless they know what you do, people won’t know you can help them. If you’re out and about during the day, you might rub shoulders with 100s of prospects. How can you introduce your business?
It’s all about being comfortable with the type of conversation you need to have to engage a prospect. Whether you’re talking with someone face-to-face, or over the phone you’ll ask the same questions in the same way.
Carry Business Cards
It goes without saying you should always carry business cards. They are the least expensive form of advertising available. Never leave the house without a stack at your fingertips, and stash some in the car in case you need more.
Use a Magnetic Auto Sign
Most of us drive around and park in one or more parking lots during the day. One of the suggestions Pete gives investors is to use car magnets to let people know you buy houses. This mobile advertisement is relatively inexpensive and goes everywhere you go. If you go places where there are crowds: special events, restaurants, high-traffic areas—even sitting in a traffic jam—your sign is likely to be seen by prospective property owners. Make sure your phone number is easy to remember and large enough to read.
Learn Conversation Strategies
If someone walks past your car at the mall and sees your auto magnet and this person happens to be stressed out and motivated to sell their property, they may strike up a conversation with you. They might ask, “So, you buy houses?”
Don’t find yourself at a loss because you’ve only done phone solicitation and the interaction is in person. As long as you learn and practice specific strategies, you’ll have the same conversation with a guy you run into in front of the drug store as you would over the phone.
“It’s all about being comfortable with the type of conversation you need to have to engage a prospect,” Pete advises. “Whether you’re talking with someone face-to-face, or over the phone you’ll ask the same questions in the same way.”
As a real estate investor you’ll need to gather certain bits of information. Much of it is personal. Some investors just starting out wonder how we can get people to give us personal information over the phone OR in person. They do. Remember, you’re helping prospects in a situation that’s causing them stress: emotional, financial or both.
Knowing your business inside and out builds self-confidence, and self-confidence helps build trust with others. Being poised and authentic in your communication opens the door to relationships that may also lead to future referrals. Every relationship counts.