It is possible for you to make some kind of profit from every deal that you find, even if the deal is not an exact fit for you. The obvious way for you to profit is to sign a deal with each appointment. However, there are a number of ways to ensure that you are always compensated for the time that you spend working in the real estate market.
When you come across a deal that is not perfect for your own agenda, you can profit from these encounters by referring them to the other people within your network. This will increase your value within your network, which can lead to even more opportunities to make a profit.
More Than One Way
Imagine that you find yourself in a meeting with a seller who you can plainly see would be better off to refinance their property. You just let them know that selling the house would not be the best move to make and give them the name and number for a mortgage broker in your network. Eventually, a time will come when the mortgage broker will pass a lead on to you, such as in situations where they may have a buyer whose loan did not go through and now they have a motivated seller on their hands.
You can also gain from meeting with a seller by finding out information on the rental and resale market. You should be able to discover what the prices are like, how long most properties are remaining on the market. You will be able to find out the type of properties that are least and most in demand in the area and how property sellers perceive the conditions of the market.
Use What You Learn
Learning from each appointment that you make, you will find an ideal way to leverage yourself. After every appointment, think about the good points of the meeting and all that went well. Consider what you need to do differently the next time, implementing everything that you have learned. After each meeting with a seller, take at least five minutes to make a written not of everything valuable that you learned in that meeting.
Now, you see that signing a deal is not the only way to profit. If you use your head, you can find many, many other ways to profit from every appointment on your calendar.
Property Options Australia
Property Options Blog © 2006 – 2009
Hi Sean,
Again, great advice. Success and profit come in many different forms. The quality of your relationships with other people will have a direct impact on your profit margin.
I think those people who have the ability to work with other people and hand off deals that are more suitable for others are the ones that will have the most success. It’s about give and take. Make some money and pass some on. It’ll come back to you.
By refering people to others you will get reciprical favours. You will always benefit by helping others and doing the right thing. I think this applies to life in general and not just the real estate market.
Just so you know there is a small typo in the second last sentance.