Cash Flow Analysis Is Good When All Of The Above How Agents Create Long-term Real Estate Investor Customers

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How Agents Create Long-term Real Estate Investor Customers

Real estate agents and brokers often pass up good opportunities with real estate investors that could increase their business because they instinctively just want to close the transaction and don’t pay much attention to building a long-term relationship with the investor.

Closing a transaction is of course essential to selling a property, but it’s even better to keep customers loyal enough to close the transaction and come back later with repeat business.

In this article, I want to show you how you can create a relationship with real estate investors that will keep them loyal to you for the long term. It’s not about style and luxury, it’s about embracing a concept I call “investor partnership”.

Here’s an idea.

Value the investor’s money

Unless otherwise noted, appreciate the fact that the investment money may be coming from a fund the investor is setting up to send their son or daughter to college. That it probably isn’t money from a windfall, but the result of hard-earned dollars spent and saved to serve the family.

Even if it seems like the client has already made enough money to feed the family ten times over, don’t forget the fact that they still have money concerns and definitely don’t want to lose a cent.

Pay attention to how the money is spent

Let your customers know through your actions that you are as committed to protecting their nest egg as they are and that you truly care about how it is spent.

This is best illustrated by a clip from a TV commercial from a few years ago. When the subject of children comes up during a conversation with his financial advisor, the astonished client asks, “Is he talking about his children or mine?” In other words, the customer doubted whose interests the seller had in mind.

You need to eliminate this doubt if you want to build long-term relationships. Partnership requires trust. You must act to reassure your client that you will treat their money as if it were your own and that you are equally committed to protecting it.

Be prepared to warn the investor against renting properties that are not a good real estate investment opportunity, even if it means losing sales. Keep in mind that an agent who only has eyes for commission (perhaps to the detriment of the investor) is less likely to build a trusting relationship that could eventually develop into multiple sales than an agent who doesn’t just want to take the money and run.

Reliable advice

Above all, know what you’re talking about, because nothing else you do will hold water unless the investor can trust your judgment.

Here’s how to prepare.

1) Learn the basics of real estate investing so you can properly discuss investment properties. At least know the difference between capitalization rate and gross rent multiplier and be able to generate APOD. There are many sites online dedicated to real estate investment definitions and formulas where you can easily learn what you need.

2) Understand your local rental property market. Find out how much rental properties have sold for and are currently listed, broken down by cap rate, price per unit, and price per square foot. You need to be informed about market values ​​to be able to distinguish between a good investment opportunity and a bad one.

3) Do the numbers yourself and create your own cash flow presentations. It’s easy with good real estate investment software. Real estate investors will trust you more when they can rely on you to back up the information you present to them.

Here’s the bottom line.

Getting an investor is not difficult, even if you lack style and polish. Real estate investors are generally ready and willing to form a long-term partnership with any qualified real estate agent they can trust to help them make good investment decisions; regardless of whether you drive a Mercedes or not.

For your success.

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