Thoughts from Diana
Summer has unofficially started, and we are ready to roll. From everything I’ve read and the data I’ve seen, this summer is going to be a hot market. There are ready & willing buyers who have lost the spring season and are prepared to move forward. There is “pent up demand” and limited inventory. We also think the multifamily market will see some movement. Now, if you are interested in retail and office, there might be some big bargains coming. Retail and office will need retooling to be profitable, so keep that in mind.
The featured article this month is about Asking. Specifically, asking for deals. News flash, no one is going to lay deals at your doorstep. Ask, Ask, Ask – It’s the only way to get what you want. Let us explore why it is hard, and what you can do to make it easier?
Real Estate is a business that is all about making deals. There is really only one way to make deals Ask! There is a great (little known) book called The Aladdin Factor by Jack Canfield and Mark Victor Hansen – it is truly one of those books that changed my life. It taught me how to ask for what I wanted and needed: both in business, investing, and in my personal life.
Here are some of the lessons I learned from The Aladdin Factor:
- We are meant from our nature to ask questions for what we want. So why don’t we? If you think about any small child (2-4 years old) you have ever met, what are they masters of? Asking questions. What is that? Why does it work that way? Can I have that? Will you help me?... Sound familiar? What do most adults do when a child asks these questions non-stop? “If you ask me that question one more time…” So our nature is to ask, and we are taught not to ask. So we now need to reteach ourselves how to ask.
- “No” is another reason we don’t ask. We are afraid that someone will say NO to us. What does the NO really mean? Well, most of us think there must be something wrong with us… we take it personally, it’s not personal. Another important lesson I learned from a book called The Four Agreements. The book gave me tools that helped me to learn how not to take things personally. What is comes down to is that, when the answer is “NO,” it usually has nothing to do with you. It has to do with where the other person is coming from. Trust me, I know it’s much easier said than done.
- Confidence – A lack of confidence comes from not knowing your stuff and a lack of experience. Confidence is the easiest thing to change.
In real estate, we must ask or NO Deal. So, what tools can we use to help us get over the fear of asking?
- Make sure you are not attached to the outcome. I promise there are going to be other deals. In fact, the best thing you can do is practice on the Deals you don’t care about.
- Start by building a relationship. Don’t rush into the “ask”; get to know the person better.
- Listen – People want to be heard. So just sit back and listen.
- Understand something they need out of the deal and find a way to give it to them.
- Be respectful. Follow up and follow up again.
- Ask sincerely – also keep it simple, and people will be open to you.
The last tip I’ll give you is that the more you ask, the easier it will get, I guarantee it!
Contact your Student Support.
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Foundations drop-in basis and will show up in your calendar.
Wholesaler: Diana Hill - 6/12-6/14
Foundations: Chris Heffer - 6/26-6/28
RECC 4:00PM - 5:30PM (Pacific Time)
Topics and Instructors subject to change
Benchmark IRR to track your progress as it relates to retirement:
Ron Fields 6/4
Diana Hill 6/11
Excel Skills for your Real Estate Business:
Chris Heffer 6/18
How to work most effectively with a Real Estate Professional:
Diana Hill 6/25
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