Real estate investors shift our roles from buyers to sellers as we navigate various deals. Our insight into the real estate process gives us an advantage; however, we must maintain the right mindset.
When in the position to sell a property, it’s critical to understand how to find and motivate buyers. Buyers are everywhere, but the shifting real estate market means our strategies must adjust to achieve successful deals.
How Do You Find Buyers?
Whether you are selling a property as a fix and flip, unloading a rental property, or working a wholesale deal, you need buyers. Finding buyers starts with effective marketing.
Marketing in real estate traditionally includes placing a for sale sign in the yard and listing the property in the MLS and other online real estate directories. While that’s usually effective for selling a primary home, it isn’t always the most effective strategy for real estate investors.
As an investor, you need to sell properties quickly. Building and maintaining a responsive buyers’ list is a work in progress and you never stop.
Creative marketing strategies help. Cultivate and grow a buyer’s list through networking, to which you can reach out with opportunities to buy. Also, online resources like Facebook, researching recent sales and your website open the door to finding motivated buyers.
Stay positive, and don’t become discouraged or frustrated with the process.
How to Shift Your Mindset During the Buyer Process
Real estate investing is fun when the deals move swiftly and seamlessly. Yet, some deals are challenging. The goal is to maintain the joy of real estate investing even when facing challenges.
It takes tactical action and mental toughness.
Strategic Elements to Consider
1. Price – Consider the details of the property and deal. If the property isn’t selling, it usually has to do with the price. Check the list price to confirm it matches market values and ask any potential prospective buyers to give you feedback.
2. Negotiate – If you have interested buyers who won’t agree to the asking price, ask them why and to submit their best and reasonable offer. Then you have at least a starting point for negotiation.
3. ROI – Understand your financial goals for the property and the range for your return on investment. While you don’t want to lose money, it’s okay to be flexible on the level of income you’ll achieve from the sale.
Mindset Shifts that Win
1. Maintain a Positive Mindset – Negativity breeds bad results. Likewise, a positive mindset attracts positive energy. When you lead with a positive outlook, the buyers you interact with will feel that and respond.
2. Practice Daily Affirmations – Words have power! Minor daily shifts and consistent action create long-term success. Speak affirming words to reinforce your goals and develop an inner voice that enhances your belief in yourself.
3. Trust Your Instinct – You can trust yourself. As women, we must tap into our instincts. If you and the buyer cannot agree or an offer is not reasonable, you don’t have to work with that buyer. It is okay to walk away from people you don’t trust or who don’t treat you or your business with respect.
Set Yourself Up for Success in the Buyer Process
Close more deals successfully with the right tools and mindset. Real Estate Investing Women offers community support and training to help grow your business. Download our free eBook to learn more about how to find success through real estate investing.