There are many different real estate investing companies that offer a variety of products and services, such as turnkey operators, wholesalers, commercial brokers, property managers, etc.
Some of these companies may even promise skyrocket rates of return.
I have witnessed on numerous occasions investors who are solely focused on purchasing the “best” house on the “best” street with the “best” growth prospects, only to experience financial loss.
In the end, none of those demographics really matters. Of course you want to be buying a good property, but my next question will have a much bigger impact on the success or failure of your real estate investment:
Who are you investing in?
When investing in real estate you are committing to investing a lot of time, trust and, of course, money into a certain person or company.
Here are 4 key traits that I believe every real estate company should possess if it wants to successfully build a strong foundation for itself while at the same time assisting and growing its client database:
No. 1 – Relationships
In the world today everything is very fast-paced/cut and dried. Everyone is just trying to get the job done and make a quick penny. This method may get things done quickly, but it doesn’t necessarily ensure quality. If you find a company that is willing to go the extra mile in connecting with you to see how it can best cater your needs and long-term financial goals, you will most likely find yourself in a mutually beneficial business relationship.
No. 2 – Trust
This is established over time, and not over one email, phone call or meeting. Finding a real estate company that is willing to spend “that” time in building your trust is a key factor in maintaining and growing a solid business relationship. If you aren’t able to initiate a certain level of trust with a particular real estate company, it will be very difficult to preserve the relationship and successfully obtain your desired goals/benefits.
No. 3 – Communication
“Communication, communication, communication… instead of location, location, location… I can’t stress it enough!” This is very important when looking to successfully invest in real estate. A sign of a genuine real estate company is one that is quick to respond to all of your related queries via phone or email. The company should be happy to assist and guide you with its knowledge regardless if you are ready to purchase a property now, or a year later. Prompt communication is vital when seeking a real estate company to invest with.
No. 4 – Integrity
This is the last component of the 4 key traits. A genuine real estate company is one that has a strong force of integrity backing it up. This means finding a team of individuals who are honest, driven, and have strong principles. They have pride in their work and will say NO to quantity and YES to quality.
Conclusion
Be patient and conduct more research and investigation on the people you are looking at working with, rather than the actual stats and demographics of a particular area. You want to work with a company that will, through good communication and integrity, build your trust and develop a prosperous and long-term relationship with you.
Visit Engelo’s site here.
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