BreakAway Agent Podcast #12 With Wealth Advisor Robert Shemin
How To Build A Relationship With RE Investors: Tips from Robert Shemin
Robert Shemin is a New York Times and Wall Street Journal best-selling author. He has so far been involved with over 1,000 real estate transactions totaling over 100 million dollars. He has helped thousands of people with no experience in RE investing achieve financial freedom.
Robert has built a successful career and life in real estate. Luckily for us, we got to interview him on the BreakAway Agent Podcast and here some of his ideas on how investors and agents can partner together for success. Right off that, Robert gives priceless advice to new agents and young investors. Listen now as he and Tiffany discuss real estate from a client’s perspective.
Follow Up With Clients Within 24 Hours
The biggest thing when it comes to agents is answering phones or emails within 24 hours. If an agent is responsive, that is one of the biggest indicators for whether or not Robert will want to continue a relationship. He believes it to be a HUGE offense if he, as an investor and client, calls an agent and they don’t answer.
Robert holds himself to a high standard as well. If he doesn’t return a call or email within 24 hours, he has to write a $3,000 check to a charity. Can you afford to lose out on a sale with a high dollar investor? Do you want to miss out on that relationship?
It might sound simple, but being someone who communicates quickly can really make or break a career.
Agents and REALTORS Are Great Assets to RE Investors
Real Estate agents are a great asset to investors, especially when they stay involved in the process. Specifically, Robert discusses how real estate agents bring investors some great deals. From motivated sellers to short sales and everything in between, having agents in your list of resources can be a huge benefit to you.
He also talks about how he hires agents to help sell the homes he just rehabbed. Investors typically are not known for their sales ability, so having an experienced agent help with the listing can help him get more money in the long run. Agents know the market, they know what buyers are looking for, they know how to stage it, and so much more.
Are You A New Agent? Marketing Is Crucial
Marketing is crucial for new agents, and it starts by knowing your area. It doesn’t just mean passing out your business card or giving mortgage companies goodie baskets. It means knowing your area, knowing who you want to work with, and knowing how to reach your people.
What is your brand? How are you going to stand out? Are you telling people who you are? What are you doing as an agent or investor to make an impact and add value?
Robert suggests showing your clients who you are by:
- Working hard
- Going the extra mile
- Providing resources and finding what they need
- Cultivating relationships
Think Long Term. How Are You Creating Those 15-20 Year Relationships?
As you already know, real estate is all about relationships. Think long term. Don’t just think about the house. Consider more than just the sale. Build your relationship with new clients so that over the next 10, 15, or 20 years, you are their go to when it comes to fulfilling their real estate needs.
Treat them exceptionally well with the goal that this person will be in your life for the next 20 years. If you constantly go the extra mile, they will be sending all of their friends and family to you.
Communication Is Key. Ask Your Clients How They Want To Be In Contacted And Then Over-Communicate
In an industry that is based on relationships, having good communication skills is a huge thing you should be working on. Whether you’re a RE investor or you’re an agent just starting out, make this a priority.
Be responsive. Find out how your clients and prospects like to be contacted. Do they prefer texts? Are they more responsive to you when you send a quick email? Ask them! Then over communicate. If you know you’re going to be unavailable, even just for a day, send them a quick message and let them know. Tell them how to get a hold of if they need to speak to your right away.
Robert makes it a point to dedicate one day a week to following up with his past clients or current prospects once a week. Even if it is just checking in, you will not regret cultivating those relationships.
The Internet Is A Great Tool, But It Can’t Replace Real Estate Agents
The internet is a great tool, but real estate agents often have more knowledge that investors need. Though we can find out so much information about specific properties online, a lot of information is incorrect. Investors need agents who know the streets. Real estate agents will know certain areas and can give insights into things that the internet might not ever warn you about.
- An agent can tell you what is going on in the neighborhood. Often times you’re only getting half of the story when you’re looking at a listing.
- They have buyers and sellers in their pocket already, something that RE investors might not have.
- Real estate agents know the best title companies, they know the best contractors and more. They are a valuable resource to investors.
- They know what people are looking for, they can help you avoid expensive mistakes with a rehab.
Referrals Are Crucial When It Comes To Real Estate Investing. Are You Making Good Impressions?
Robert shares his experience of finding agents to help him grow his business. Referrals are so important for building your team and getting more leads. He will work with a company or a new agent simply because someone else he trusted spoke highly of them. Often times for him, the experience level isn’t a deal breaker. If you’re hungry and are willing to work hard, that’s the type of people and businesses he wants to associate with.
How are you getting your name out there? Are you providing value and being an asset to every person you meet? If you are, that value will come back to you because you will be referred to more often.
Forget The Fear. Be Bold. Talk To Everyone.
Robert goes into what he might tell his rookie self. If he was just starting out, he would want to tell himself to stop overthinking. Forget the fear and talk to people! The worst that can happen is that you learn and gain experience.
At the end of the day, we are all just people. We are all trying to figure out what we are doing. Stop being scared, be bold, and take action.
What are you going to do TODAY to get you to where you want to be?
Think about where you want to be in 5 or 10 years. Not just in business, but your lifestyle too. Are you thinking about your long term goals? How are you going to get there?
It’s important to think about where you want to be and how you’re going to get there. What can you do on a DAILY basis to help you reach your goals? Take action now, and watch how far you’ll grow.
About Our BreakAway Guest
Robert Shemin, RE Investor and Wealth Advisor
A millionaire by age 32, Robert is a New York Times and Wall Street Journal best-selling author with 16 titles to his name, including the blockbusters “How Come That Idiot’s Rich and I’m Not.” He has been involved in over 1,000 real-estate transactions (so far) totaling over 100 million dollars and has helped thousands of people with no investment experience or funding achieve total financial freedom.