Build relationships to succeed in property investment
Few of us work in isolation, and our ability to build relationships often determines how successful we are in our jobs or in business.
This is certainly true of property investors – and as our property investment mentors will tell you, the quality of your business relationships is often the key to your success.
Ask questions, listen to answers
Building relationships is about asking the right questions – and listening to the answers. To tap into the wealth of knowledge and experience that will help you grow your property investment business you need to forge relationships with a number of different professionals.
And the key to establishing those relationships is to listen to what advice these experts in their fields can give you, and then ask them more questions.
Look for professional support
Letting and estate agents, surveyors, architects, solicitors and fellow property investors can all help you grow your business. Make a list of the areas in which you already have strong relationships and take note of those areas where it would be beneficial to develop new contacts.
When you talk to these professionals, explain to them the kind of property investment business you’re planning to embark upon. They’ll be happy to share their opinions on how to invest in property and why you should consider different strategies. As a result, you’re likely to come away with plenty of food for thought. You may even decide to change your property investment approach entirely.
Is it mutually beneficial?
Of course, there must be a balance between asking for and giving advice. Relationships fail when there’s too much taking and not enough giving.
You need to support people so that they can achieve their goals too. And if you’ve listened to what your contacts have been saying, you’ll know what it is they hope to accomplish. This means that when you hear about a deal, or a useful titbit of knowledge comes your way, you’ll be in a position to pass on the information to the person who’ll find it most useful.
Nurture your relationships
Once you’ve established relationships, you need to maintain them, and that means making a continuous effort.
Take a moment to review your network of contents. Where do you have strong relationships and are there areas that need work? Which contacts have you spoken to recently, and which ones have you neglected? Are you taking some relationships for granted?
It doesn’t hurt to occasionally pick up the phone and ring around each of your contacts. You never know where this could lead. Someone may be considering a joint venture and wondering who to approach. Your phone call will put you front of their mind.
Building mutually beneficial relationships can be the difference between success and failure. If you make the commitment to develop relationships, you’ll see your support network gradually expand, which in turn will stimulate the growth of your property investment business.
Our property mentors are keen to show you how to invest in property
3 Days and 12 Strategies
The Property Foundations course will help you understand the different property investment strategies you can use in today’s property market.
Dates: 1, 2 & 3 June 2018
Venue: Park Inn Hotel, Heathrow
Registration will be open soon - spaces on this course are limited!