Building Your Investor Reputation
Washington is a beautiful state and there are lots of people moving here. That has heated up the rental housing market in the greater Seattle area and throughout the state. As housing providers and real estate investors, it is important to be able to take advantage of this opportunity. One of the ways to do that is increase your trust and reputation as a real estate investor. It's one of the biggest obstacles to doing more deals and reaching your goals. We all know how hard it is to find great real estate agents, investors, attorneys, and contractors. There is plenty of distrust out there and that is perfectly valid. However, if you can build up a sense of trust and of a good reputation. Your deals can increase in frequency and profitability.
How do you do that from little experience?
- Document your deals to create case studies and a credibility book
- Align with a partner who does have a great reputation
- Create a real estate resume
However, that's not the only thing you can do. You can take the conversation online and build your reputation there as well.
- Cultivate a presence on social media
- Start and maintain a blog (great for Google!)
- Create a great brand and find ways to promote that brand
- Promote that your a member of RHAWA
- Guest Post for the RHAWA Blog
These things are called trust signals. Fair or not, some people just seem more trustworthy. People determine that through trust signals. Signaling that you are a trustworthy person is key to making the right impression with the right people. It's having the right business card, putting information in your email signature, writing quality ads for units and employment opportunities, as well as how you carry yourself all add up to someone who is trustworthy. All of these things add up to you looking like someone want to do business with; that means bigger and better deals!
Articulate your Authenticity
Many of our members think of themselves not as investors or as business people but just as someone who "rents a house" or who "owns a building" but the reality is that if you're renting something, you are a housing provider and you are providing a service, the service of housing. If you are looking at growing your portfolio (and you should be) then you have to start thinking like a business. People like to do business with people but not just any people. They want to do business with someone who is trustworthy, authentic, and visible. Sometimes the person with the biggest sign wins, not because they are the best, they are simply the most visible. What does that mean for you? Be visible and find ways to tell people who you are and what you stand for in the marketplace. People do business with people. At networking events and elsewhere, when you stand for something, people respond to that and will work with you because they had a chance to get to know you and are interested in working with someone they understand feel that they can work with. It really is that easy.