Stop talking and start listening. You’re not an expert!
A mistake I see so many people make when they’re starting out is to try to come from a place of knowledge when they have none. Don’t try to cover that up. Accept it, embrace it and use it!
You have to come from a place of sincerity, experience is not your strength? So, what is it?
The ability to listen and adapt
I see people in property viewings walking in, breathing through their teeth pointing out all the problems and telling the vendor it’s over priced and that they will be expecting a discount if they offer …Rubbish!
You’re only viewing the property for the first time, how do you know it’s overpriced? Also, not a great way to build a relationship.
Instead, try asking the vendor questions like:
How long have you had it on the market?
Why are you selling?
Have you had much interest?
Are you looking for a quick sale?
What would be your ideal outcome?
Are you open to working in partnership?
By understanding the needs of the vendor, you are better equipped to speak with intelligence and to ensure you are coming from the right space in negotiations.
I think we’ve had it drilled into us that you have to chip the price and squeeze every penny you can, when in truth, you don’t know that the vendor hasn’t had 3 offers already but is just holding out, maybe their agenda isn’t just the money?
When people are new in the industry, a nervousness makes people over talk and under question. Guess what. You might have been in the industry for 50 years, you still need to ask questions, you still don’t know everything, accept it, no one is truly an expert. This idea of having to be an expert is simply not true in any case. I’m sure some people you look up to in their field do not consider themselves the font of all information. We are always growing and learning, what a great thing!
I still ask more questions than give answers. Being armed with information is a major key to your success.
Another example is meeting potential investors. For some reason, people in property tend to turn up to these meetings and try to create solutions and talk about themselves, with an energy of ‘I have to prove myself’. Again, there is a much lower pressure and more effective way to take meetings of this kind.
How are you going to offer solutions to someone when you don’t know what they want? Don’t make assumptions about their investment strategy, so:
What are you looking for?
What have you done?
What level of input would you like to have?
How much are you looking to invest?
What kind of returns are you hoping to achieve?
What areas would you like to invest in?
Once armed with information, you can then go away and create an investment package that works for them and is based on information, not assumptions. How much more attractive to them would that be?
This thread carries all the way through your journey, everyone you meet and every opportunity in front of you.
Not only do you gain insight and knowledge you will also build a better rapport as people love answering questions.
I stand by this with everything I do, with my team, clients and colleagues and it serves me well.
Remember being a leader in any capacity is also about being a servant and you cannot serve until you know what you’re delivering.
Don’t try to be an expert, try to find the knowledge.