Don’t Take the People Around You for Granted
By JD Esajian on December 6, 2013
It has been said that the people you surround yourself with will go a long way in determining your success as an investor. Developing and maintaining your network should be something you work on every day. The minute you take a business associate for granted, you will slowly start to lose them. Getting people to work with you or give you deals should only be the beginning of your relationship. After you establish some sort of track record, you need to constantly think about how you can make that relationship grow. Once you stop, your business may suffer.
Even if you have closed deals with someone in the past, there is always a tendency for them to think about what you have done for them lately. Anyone who has networked knows how difficult it can be to have someone give you a chance. Once you get your foot in the door with a realtor, attorney or fellow investor, your goal should be to keep it there. A weekly email or a periodic phone call can go a long way. At this point you don’t have to tout your services, but simply stay in touch to keep you on their minds when a deal does come along.
The real estate world doesn’t have to be taken so seriously all of the time. Even if this is your livelihood, there can be a way to conduct business in a non-stressful way and still be productive. There is nothing wrong with taking a contact out for lunch, dinner or even a sporting event. People want to work with people that they have a personal connection with or they feel they can get the job done. If you are likeable, people will often give you the benefit of the doubt. You can create these bonds by doing things that other people wouldn’t even consider.
You should never assume that you are getting deals unless you ask. Staying in touch is one thing, but asking what they have going on is another. It is true that you never know what you could get unless you ask. Your contact may have something that they don’t think is up your alley, but unless you talk about it, you will never know. All it takes is literally a few minutes a week to separate yourself from everyone else that they work with.
Always remember the reason your relationship started and is successful. Even if you have closed a few deals together, this may not get you a free pass when you drop the ball on the next one. Instead of constantly thinking about you and your business, think about what you bring to the table for the people around you. Why would they or do they like working with you? Do you return calls immediately? Are you willing and able to do deals that others aren’t? Do you have a specific contact that is unique for your area? Whatever it is, don’t forget why people started working with you and how you can improve on it.
The people closest to you can be a great source of business if you take care of them. Never take those people for granted. It is always easier to cultivate an existing relationship than to develop a new one.