The Relations-Based Real Estate Investor Article

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The Relations-Based Real Estate Investor

Real estate purchase and sales is a people-oriented industry.

Author: Jay Reddingg

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It is hard to make a strong argument against the value of the internet. To begin a list of the improvements it has offered in the arenas of commerce, government, communication, and personal life would simply be a waste of time, because that list is so comprehensive. However, the internet—like all good things—has some side-effects which may be great for some, but are a thorn in the side for the rest of us.

I know a physician who is an old-school surgeon, and have often heard him complain over the course of the last decade or so about the know-it-all patients who spend five minutes on Wikipedia and come to his office thinking they have all the answers. Healthcare is an extreme scenario, because no matter how much the patient may think they know, in the end they have to use the Doctor’s services to get whatever treatment or care they need.

Real estate, on the other hand, is not as sure a thing as medicine. In real estate, that same know-it-all customer might spend five minutes researching home sales or purchases, and conclude that they simply have the information they need to do it on their own. Twenty years ago, realtors and investors could operate their businesses however they wanted, and treat their customer with as much or little care and consideration as they saw fit—like in healthcare, the customers had no other options. But now, with listings and tutorials readily available to the average browser, real estate professionals must continuously demonstrate their value to customers in an ongoing effort to prevent being replaced by the internet.

In most cases, this can be achieved not by changing how hard you work or how you conduct your business and transactions, but rather by simply adjusting the manner in which you treat your customers. There is no rule of thumb guiding the proper treatment of customers—every customer’s unique psychology and temperament will determine what mannerisms appeal most to them. The key, in all cases, is to be attentive and considerate, and always polite. Whether your tone is serious, comedic, chipper, etc., will be a function of what you think will mesh best with each individual customer.

Real estate purchase and sales is a people-oriented industry. Real estate professionals, including investors, must be engaged and helpful at every step of the way, thinking less about the numbers and more about the needs of your customers and the long-term value of the services you can provide your customer whether that be a buyer, seller, renter or another investor.

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