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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:

  1. 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 investors.
  2. 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.
  3. Make sure they have a minimum of 2-3 years of experience specifically for the task you are hiring them for.
  4. 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 educated decisions.
  5. 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.
  6. 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,
Matthew Sorensen
CreativeRealEstateHelp.com
http://www.creativerealestatehelp.com
Proven Tools to Profit from Today's Real Estate Trends

For our in-depth real estate investing system with all the specific
strategies, tools, forms, etc. go to:
http://creativerealestatehelp.com/index.php#program

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