3 Tips For Property Scouts Looking To Find Real Estate Deals And Build Relationships With Brokers, Sellers And Investors

I know I have touched on this subject before; however, it bears repeating. The key to making things happen is relationship. Relationship with your broker, so they will know you, trust you and bring you deals. Relationship with your investor or group of investors so they know you are not going to waste their time. You will have done your homework and bring them good solid deals. And finally, relationship with your seller. While it is true as a commercial property scout you will primarily be working with Brokers and Investors, sometimes you will find deals in which you will be in direct contact with the actual Seller. So, as property scouts looking to find real estate deals and build relationships, it is important to know how to build relationships with all of the players in the real estate market. You never know where your next deal will come from.

One way to build your credibility as property scouts looking to find real estate deals and build relationships is to be in contact with the broker on a regular basis after your initial contact. Create a file system of information on each broker, whether you choose Outlook, ACT (a contact info software), 3x5 index cards, cell phone, Iphone or spreadsheet of some sort. Keep all the information together, so when you follow up with the broker, you will know what you spoke about last and personal information about the broker.

Another way to build your relationships, is to do what you say you are going to do for the broker, seller or investor. Make sure you fulfill your commitments to them. If you drop the ball you will lose a lot of credibility. Remember, as property scouts looking to find real estate deals and build relationships, you are building a business, one brick at a time. If you fail to meet your commitment or fail to keep your word, you will be placed in the category of a time waster. Ask me how I know this! Like they say ‘Been there, Done that.’

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Having said that though, if you do at some point “drop the ball” it is always best to be honest about your mistakes and offer to correct it. As property scouts looking to find real estate deals and build relationships this only serves to make you more dependable in the eyes of the people you are doing business with. Everyone makes mistakes sometimes and you will too. It is important to pick up the ball again and move forward.

I attended a networking event last night and they had a speaker on getting referrals from your networking. It was quite interesting, it backed up my points in building relationship. These points apply in building any of your relationships.

The three points are:

1. Visibility: Showing up for meetings and staying in contact.

2. Credibility: Meeting your commitments, building your relationship

3. Profitability: Making money through your referrals, i.e., doing a deal.

So you can see I am not the only one that believes in building relationships. Many sales trainers and organizations know that building relationships works and works very well. Indeed, all business is built on relationship whether is with customers, vendors, creditors, brokers, sellers or investors. As property scouts looking to find real estate deals and build relationships, your business will only be as good and profitable as your relationships with the other people in the industry. You cannot work, find deals or be successful in a vacuum. Your success depends on building relationships with others in your field of interest.

Of course, the best way to build credibility is to do a deal. Once you do a deal, a deal that went fairly smoothly, you will have a larger standing with the broker and in commercial real estate community. But, you cannot find even your very fist deal with out talking to other people and building a relationship.

If you are interested in learning more about property scouts looking to find real estate deals and build relationships, click here

So as you are scouting for property, whether though a broker or the actual seller/owner, build your relationship and credibility from your very first contact. As property scouts looking to find real estate deals and build relationships, you will only increase your success ratio by establishing a firm foundation with those you will be doing business with.

Good luck!