Some Clients Cry. Others Close Eight Deals a Year.
Love the hugs and happy tears? Great. But if you’d rather skip the drama and stack some cheddar, it’s time to meet investors.
Ok, that headline is a little snarky to get people's attention. Helping people is really where it’s at, and we can never lose sight of that. Real estate is deeply rewarding.
Guiding someone through one of the biggest, most emotional decisions of their lives? Walking a first-time buyer through the process, handing over keys, and reviewing a settlement statement with a seller? It’s powerful. There’s something about being needed, being necessary, that hits deep. When someone says, “I couldn’t imagine doing this without you,” you feel it.
It makes your heart warm.
But you know what also happens?
It sucks. (Very technical term. I learned it in business school.)
All that emotion can wear you out. And sometimes, you just want a client who won’t burst into tears over cabinet pulls or interest rates.
Know who isn’t emotional?
Know who will buy a property every time you send them one, if the deal is right?
Investors.
What if I told you there are clients who will buy eight properties a year instead of one every eight?
Wait, Unc, are you saying there are clients like that? That’s an option?
Yep. It sure is.
And if you’re not working with investors, you’re leaving serious money on the table.
Now, before you go out and start sending Zillow links to anyone with a rental property and a pickup truck, let’s talk about how not to work with investors:
What NOT to Do:
1. Just send an MLS link.
Please, as someone who has flipped a lot of houses and worked with a fair number of agents in the process, don’t just send a link.
Sending me your MLS link about a property I have probably already seen on Zillow, and even if I haven’t, it tells me next to nothing about the investment opportunity. I need a lot more than an MLS link and a few comps. More on what to send below.
2. Expect exclusivity.
It will happen sometimes that an investor will be looking for one agent. But usually for their business to be successful, they need to have the flexibility to work with “whoever brings them the deal”. Don’t get offended.
This isn’t your buy once every eight years client. That should demand exclusivity. And investors (usually) will not. So go for it. Try to get it. But also be understanding if they need flexibility.
3. Ignore their “buy box.”
Pretty much every investor I know has their preferred “buy box”. They like properties in an area, at a price point, with a defined exit (unless it’s buy and hold). Some like small houses on big lots, and they do additions. Some like big lots, old houses, and they scrape the house and build new construction infill projects. So, try not to just spam them with what you find.
They’re also opportunist, so if you find a great deal, sure, send it to them, but honor the fact that it’s not what they normally buy. “I know you normally only like Concord, but this is one I think you should at least take a look at…” Add a few features about the deal and see what they think. But don’t just spam them with stuff they won’t want to see.
What TO Do:
1. Get to 10.
You need 10 investors who you have permission to send stuff to when you come across it. This actually won’t be as hard as you think, since just about all of them will say, “Sure, shoot me stuff when you see it and I’ll take a look”.
Wanna know why they say “yes” so easily? Because 95% of agents never follow up. And almost no one will follow up consistently for weeks/months (see below for more on “Give up”).
Be the 5%.
2. Design a “Deal of the Week” email.
Investors are like any other lead segment. They need steady communication. It is not their job to remember you, it is your job to be memorable. You need a steady marketing campaign for them, and what better follow-up than to present them deal flow that would interest them. Here is a quick list of what you could include in your weekly email:
MLS link (or withhold it as bait, see below)
Three strong comps
Purchase price
After Repair Value (ARV)
Highlights (Big lot, cosmetic fixer, etc.)
Reports (inspections, disclosures)
And here's the kicker…
Include a hook.
Usually, I would recommend you hold back one piece of information. Remember, the goal of every email is a conversation (phone, email, in person, whatever). Sometimes it might be the address (don’t send the MLS link in this case) or the inspection report, etc.
It would go something like “Those are the highlights, I’ve got the home inspection report as well if you want it. It speaks to the roof issue and the foundation issue, just let me know if you want those too”. It’s a reason for them to have to reach out to you if they’re interested.
3. Don’t. Give. Up.
Last piece here. Please don’t start and then stop. Please. You’d be better off not having spent the energy to start. Commit to this or don’t do it. But if you want to do it every week (ok, you can take Christmas week off if you must, but I wouldn’t) forever and ever. And ever.
See, a lot of people will send one email. A few will send it once a week for a month. Even fewer will do it for three months. Almost no one will do it for a year. That is what you’re counting on.
See, these investors have had this conversation dozens or more times. And most likely no one has followed through. And pretty much no one will have followed up for weeks on end.
Your mindset needs to be “eventually they’re going to want to find a deal and I’m going to be in their inbox when they are.” If there is one thing investors respect, it’s hustle and consistency. It’s what makes them successful and what will make you successful with them.
There’s so much more to say about working with investors, whole books have been written on it, but none of it matters if you don’t master this:
Start. And don’t stop.
Detach from the outcome.
Control the actions.
Keep showing up.
If you can do that, you’ll win.
Investors may not always hug you at closing, but they’ll close again. And again. And again.
And honestly? I loved working with them.
Straight up. Straightforward. Repeat deals.
Where do I sign up?
-k
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So true. First time home sellers is also a ticket on the emotional roller coaster.
"tears over cabinet pulls...." It's only funny because it's true - lol.