Do you think that you have to be an agent to have success in real estate? Think again. Here are 7 critical points to remember if you truly want to succeed.
I have made it my life mission to teach women how to succeed without being an agent, and without a license. Truly, real estate is often seen as a “good ole boys club,” but, ladies, I believe that we truly make the best investors.
If you are aching to get into the real estate arena, but don’t want to be an agent to do it, then girl, we gotta talk.
How to Have Success in Real Estate Without Being an Agent
I’m not going to lie to you. There is a lot to learn in the world of real estate. But, if you are serious about changing your life and ready to take action, keep these 7 things in mind as you move forward.
#1 Be a person first (find a way to connect with the seller)
Ladies, this is usually what we do best! Sellers want to know that the person who is interested in buying their property is not some sleazy salesman. They don’t care about the money or your desire to make money or basically anything about you.
Stay focused on them. Listen to their story. Ask questions about why they are leaving. Take the time to get to know them a bit while you’re meeting about the property. Connect with them, even if it’s over something silly like the color of their shutters. “I see you have red shutters. Red’s my favorite color! Love it.”
Even something as seemingly small as that can set the stage for connection and trust. Be a person first.
#2 Do your homework
Along with #1, you need to get serious about being informed about the current status of the seller’s property. How much do they owe? What are they paying monthly? Is the property vacant, and if not, when will it be?
These are just some of the critical questions you have to make sure you ask in order to make an effective offer. Do yourself and your seller a favor and be informed.
#3 Get educated on your options
If all you know is about how to list a property with an agent, then it is time to get educated on the alternatives. Invest in some quality education about real estate investing, so you know your options.
I love working with creative financing. And, my absolute favorite way to work with sellers is through lease options. Definitely learn everything you can about what options you have available to you as an investor. You don’t have to put every penny you have into a property to invest.
#4 Embrace the Profits (instead of a commission)
Maybe you have a background as a real estate agent. Or maybe you just are only familiar with that one option as a woman in real estate. But honey, show me the money. You can make some serious money with real estate investing.
Success in real estate is all about knowing your options and working with the seller to find solutions for everyone. The profit potential for you is only great if you know the numbers and have asked the questions to get all of the details.
You are not a real estate agent. This means that you are not limited to only a specific percentage for a commission on a property’s sale. You can make a win with the offer, but you can also make some major money with the next steps: working with tenant buyers. Lease options provide amazing ways to make some serious profits.
#5 Don’t be afraid to walk away from a deal
You may have read suggestions to never turn down a deal, but that’s the mindset of an agent. Investors have to think differently. If the numbers do not work and your seller is not willing to negotiate a solution, walk away. There is no doubt in my mind that a difficult seller now will remain a difficult person for months (or years) to come. You don’t need that.
If the numbers don’t work, and the deal is not solid, walk away. There are plenty of fish in the sea. Keep fishing.
#6 Use your business brain, not your heart
This might piggyback off of the previous point, but sometimes you may need to know when to say no. Maybe the numbers all work, but you’ve got a person living in the house without plans to move. That’s a no-go. We don’t kick people out of their homes. This is why I prefer to work with vacant homes, or homes with people looking to move ASAP.
I know their stories may be terrible.
It is good to have empathy and compassion for their situations, but this is the time to use your business brain and not your heart.
When they are ready and able to move, that’s the time to come back to the table. Only when the house is vacant can anything move forward for you as the investor. Accept that reality and hold that boundary. It’s necessary so you can protect yourself, too, as an investor.
You cannot have success in real estate if you get stuck in a bad deal. It’s okay to say no and hold that line. Do it.
#7 Work with someone who has done what you want to do
Find a mentor. Work with another real estate investor who has shown that they really know what they’re talking about. If you’re like me, you might prefer to work with another woman in this real estate world. Women can achieve amazing success in real estate. But we have to expect to do the work and embrace the trials that come.
I teach women to have success in real estate as investors. In my mind, we work best when we stick together and learn from each other. The “good ole boys club” has got to change, and the best way we do that is by kicking some serious butt! So, if you are ready to dig in and learn how to really succeed in real estate, let’s talk and get you started!
You Don’t Have to be an Agent to Have Success in Real Estate
Ladies, this world is big enough for all of us. There are so many great deals out there just waiting for someone like you to find it. You can have success in real estate if you are ready to get to work. Be serious, take action, and watch the results happen!