One of the biggest causes of nervousness among investors old and new is making new contacts. Whether it is walking into a homeowner’s house or speaking to fellow investors at a networking meeting, many hours of sleep are lost wondering what to say and how to say it. There is nothing wrong with being prepared and having a plan, but the best way to secure business is with your ears instead of your mouth. Instead of rattling off talking points you have memorized, focus on who you are talking to and what they are looking for. You will gain infinitely more contacts and many more deals if you just heed what investors say.
Whether you are looking to get a homeowner to sell or attract the interest of a new realtor, you are always selling something. In most cases, you are selling yourself and your services. While you may think this is important, it is not as important as trying to fulfill the needs of whoever you are talking to. Many times a homeowner will tell a buyer exactly what they want, in the timeframe they want it and the price they will sell it for, but they are too busy thinking about what they are going to say next to hear it. It is OK to have a few transitional items up your sleeve if the conversation stalls, but you need to listen when you ask questions. The answers will be there more often than not.
The ability to listen is especially important if you are dealing with new leads. You can save yourself months of time and headache just by listening to what they want out of the deal. You can keep asking questions and writing down the answers, but if don’t catch the tone they say it in you will end up wasting your time. After you are done with the questions you have, you should always ask if they have any questions for you. This will give you the opportunity to talk about what you can do so there is no confusion down the road. By asking questions, you can find out what the areas of concern are and address them in the first conversation rather than a week before the closing is set.
Nobody likes to feel as if they are being sold. By asking questions instead of talking yourself up, you can begin to establish a relationship. A common mistake people make when trying to woo a new contact is answering every question regardless if you know the answer or not. There is nothing wrong with saying you don’t know something but will find out. Instead of giving a long rambling answer, this will be much more appreciated. You show the person you are speaking with that you actually listen to them and when you call them back with the answer to their question they will like and respect you much more.
When you are trying to work with someone new, you should get out of the mindset that you have to sell them on working with you. Instead, your goal should be to try to establish a relationship and the best way to do this is by listening to what they have to say. If you focus on this, any contacts you make or leads you get will be much more likely to work with you.
