Building an Effective
Real Estate Power Team
When you start to get your business off the ground, you
will find it is next to impossible to do everything on your
own (That is of course if you want to keep any grain of
sanity and have any resonable amount of success).
We're all guilty of it in some form or another, myself
included. It is the idea that we try to figure out or do
everything out ourselves without getting help from those
who have gone before us. Of course, what usually ends up
happening is we get stuck trying to learn and do everything
ourselves, then get discouraged by either getting no results,
poor results or even worse losing our shorts or giving up.
Have you ever tried to figure something out on your own
then later, learn a little nugget of wisdom from an expert
and thought "I wish I would have known that a year
ago". Yeah. Me too.
This is a key to this, or any real business. Real estate
can be very lucrative but you have to learn to work
smarter not harder. It will not only make
your business more profitable but also more enjoyable.
Every professional you work with whether an agent, attorney,
trainer, appraiser, etc, makes their money through different
arrangements but the fact is these costs are often insignificant
in proprotion to the money you make as an investor. As you
begin to build your power team, here are a few tips to follow:
- Work with potential team members whose expertise
matches what you need. For example, just because
someone is a licensed real estate agent doesn't mean they
work with investors like you. Some work more with traditional
homebuyers, small investors, multi-unit or commercial
- Be sure they work in the area you are investing
in. Not only will they be familiar with the market,
but they should also have connections with others locally
you may benefit from working with.
- Make sure they have a minimum of 2-3 years of experience
specifically for the task you are hiring them for.
- Don't rely on just one team member in each area.
As an example, when you have 2-3 brokers, agents or appraisors,
you will have more flexibility, a broader network to pull
from, a choice of bids and second opinions to make better
- Make asking for referrals a matter of habit.
Word of mouth goes a long way and propel your business
much more quickly in a shorter period of time.
- Always create win-win relationships with those
you work with. If everyone on your teams knows they'll
make money just from knowing you, they will not only want
to do business with you, but you will be a higher priority
to them as well.
Just like other aspects of real
estate investing, the more you take advantage
of the expertise of others, the more profitable and easier
your business will become.
To your success,
Proven Tools to Profit from Today's Real Estate Trends
For our in-depth real estate investing system with all
strategies, tools, forms, etc. go to: