In these days of Tweets and texts, introducing ourselves on Facebook and LinkedIn, it seems the fine art of conversation has gotten lost. While technology can be a viable part of an investment business, never forget for a minute that we are in a people-centered business. Websites are great for building credibility and an image. Data-mining can help generate more and better quality leads. Drip email campaign help with top-of-mind awareness, but in the end, there has to be a CONVERSATION between buyers and sellers. This is where the ‘fear monster’ rears its’ ugly head.
How many of you remember being told, “Never talk to strangers” when you were a kid? That’s the problem with bad programming…and it can stick around with you until you exorcise it. The good news is that it can be done. Talking with sellers is pretty easy once you know how. It takes practice, commitment, and persistence with your skill development.
Knowing what to say is only part of the equation. Conversation has two components. One is talking. Can you guess the other?
It all boils down to this; to build a great transaction we have to have great conversations. Those conversations are the foundation upon which great deals are built. I’m talking about conversations between deal principals, not middlemen. Unless they are incredibly talented and know your mind, situation, and preferences, how can anyone represent you as well as you can represent yourself? You have the knowledge, flexibility, and creativity to solve the other party’s problem. You can choose to walk away or stay at the table.
Transaction Engineering is about having conversations that clarify ‘needs’ versus ‘wants’. It’s about knowing how to use multiple techniques to buy and sell property because this is not a one-size-fits-all business. Options, leases, private money, seller financing, and existing financing are all mechanisms for buying or controlling property…they are all possibilities to make a deal happen. They can be used independently or blended to make a great deal. The combinations are only limited by your creativity. The common denominator is you have to have an interactive conversation. One that ebbs and flows in order to create synergy, a meeting of the minds, where both parties contribute and both parties WIN.
Please join me on Saturday, March 20, 2010 for The Language of Investors – Conversations, Confidence and Cash at Central Florida Realty Investors, at 55 Skyline Drive, Lake Mary, Florida. This is a full-day workshop where we’ll work on the conversations, the mental perparation, and how to handle objections fearlessly. PLUS a workbook, scripts, role-playing and lunch is included!
For more information, contact CFRI at 407-328-7773 or visit http://tinyurl.com/pactprosperitycash.
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