6 Steps to Building Credibility with Sellers
| | Thursday, June 22, 2006 @ 08:00 AM EDT
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Contributed by: Rachel Young
Rachel Young Properties
Read more archived articles about Buying
I get asked about credibility a lot. So much so that I felt the need to write about it. How can you build credibility with your buyers and sellers, and what can you do even if you’re just starting out?
As I’ve said before, if your buyers and sellers don’t trust you, you ain’t getting that house! So what can you do to build credibility in the eyes of the person sitting on the sofa across from you?
1. First, be on time. I know that doesn’t seem like a big deal, but in my opinion, if you’re late for one thing, you’ll be late for anything. And in my book, that’s grounds for not doing business. Value your seller’s time and let them know that you appreciate them taking the time to meet with you.
2. Next, dress for success! If you show up in jeans and a t-shirt, regardless of what kind of house it is, you may get a “Wow, that guy’s just like me!” vote. However, in the end, the seller has to believe you can do what you say. If you’re just like them, and they got into a situation that means they have to sell, does anything about you say that you can do what they couldn’t?
3. Have a credibility kit with you. This is just a little information about you, how you either buy or list houses, some of the properties you’ve had in the past, and some testimonials. This goes a long way to showing the seller with their own eyes how you do what you say you will. This can include pictures of property that you’ve bought and/or sold, testimonials from previous sellers, or can even be just a formal presentation about how and why you buy the way that you do (just remember to make it all beneficial to the seller, and less about you and how big your company is!)
4. Get a testimonial from every single seller you can! I don’t care if it’s at the closing table. Slide a piece of paper across the table and ask if they wouldn’t mind jotting down a few words about how you did what you said you would. A word of caution: If you don’t get it before they leave closing, you won’t get it at all. Make sure they give you the ok to use it on your website and/or credibility kit. Some may even give you permission to contact them if a seller has questions. This is doubly good. Yet another word of caution: If you don’t have testimonials, do not make them up. More on why later (See #6).
5. Join the Better Business Bureau (BBB). Make sure that anyone and everyone you come in contact with knows that you are a member. Put it on your letters that you send out to sellers (I can’t take credit for this part of #5. It came from Mike B. in Peachtree City. Thanks Mike!) and include the BBB logo on your business cards. This lets people know that they have a way to find out whether or not your business is credible and that they can go to someone if you renege on your word and complain. Sellers like this a lot and so do I. It holds everyone accountable.
6. Lastly, don’t lie. Be honest. If this is your first deal, don’t pretend like you’ve done several. I’m not saying point out every flaw your business has, but for heaven’s sake DON’T act like something you’re not. When the seller finds out that you aren’t who you say you are (and they will), you will never, ever get that trust back. Also, you will have ruined the seller for every investor or agent who comes after you. Chances are the investor coming to that seller after you isn’t going to have anything nice to say about you at the next REIA meeting they attend.
Even folks who are still waiting on that first elusive deal can follow at least 5 of these 6 steps. You might not have the testimonials yet, but you can still follow the other ones listed.
If you’ve done several deals already but don’t have testimonials, then you had better go back and try to get testimonials from those you didn’t before! Those written words can go a long way to establishing trust with your seller and making you more money than you ever thought possible!
Note: Rachel Young is the owner of Big Cheese Marketing and specializes in real estate marketing for investors. She is a member of the Gwinnett Chamber of Commerce in Georgia, Toastmasters, the American Marketing Association, and the Better Business Bureau. Learn more about her at www.bigcheesemarketing.com.
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