Flip the meeting

| 1 Comment

When you got out to meet somebody – they have already had some idea of what you want from them and how you are going to disappoint them.

- A REO broker expects you to walk in, hoping that he would have a list of killer deals for you, but without having any idea of what kind of foreclosure you want to buy, or bring any kind of solid proof that YES you do have money lined up already to finance the deal.

- A FHA loan specialist expects you to walk in, hoping that she would help you find a buyer for a foreclosure that you just finished renovating, but without having any decent pictures of the finished house to show or having any concrete numbers of what kind of closing cost assistance or other help you can genuinely give to her clients and still hit your target profit.

- An experienced real estate investor expects you to walk in, hoping that he would hire you to bird-dog some deals, but without any idea of what kind of houses he typically buys or how you can help him with his exit strategy (flip, rent, lease option) by either your contacts or knowledge.

I think a lot about what I am going to say when I meet people beforehand. I also try to think and prepare a lot harder on what they expect from me and then try very hard to blow their expectations out of the water.

Goal is that they should not be disappointed but delighted by the time the meeting ends.

It is not easy. But it is yet another way of making sure that you get what you came looking for from that meeting.

1 Comment

Mark - I like the return to the text format!

Regarding this topic, even with the shakeout in this business, with many investors dropping out, I continue to hear about people dropping the ball. Contractors, realtors, mortgage people, etc. Investors too.

It's beyond me how that could be the case, as service providers in particular are fighting for a piece of a shrinking group of investors.

All the more reason to separate yourself from the crowd and delight the people that you deal with. And it does pay dividends. Two weeks ago after doing some heavy direct mail my wife took a dozen cookies from Starbucks over to the post office folks after lunch. You should have heard their response – they told my wife that they had never received anything like that from a customer before!

So that simple act, which may have cost $20, separated us from every other business that drives volume through that post office.