Real Estate Investing: Sales and Negotiation Skills are Critical

Do you want to build wealth through real estate? You need expertise in two critical areas: specific investment strategies and sales and negotiation skills. But if knowing how to identify good deals is what's really important about investing in real estate, why do investors need to worry about their sales and negotiation skills?

"Knowing how to identify good deals is certainly a critical part of real estate investing, but it's not the only part," says Russ Whitney, internationally recognized real estate expert and bestselling author of Millionaire Real Estate Mentor (Dearborn Trade Publishing). "Your investment may be an inanimate object, but in the process of making that investment, you have to deal with people. If you take a look at anyone who has made a lot of money—regardless of the circumstances or the vehicle they used—you'll find they have at least one trait in common: They have top-notch selling skills."

Peter Conti and David Finkel agree. In their book, Making Big Money Investing in Real Estate, they say, "The single most important skill you have as an investor is your ability to connect emotionally with people." With an emotional connection, you can work through the mechanics of any deal.

The first step in developing strong sales and negotiation skills is to get rid of any preconceived notions you may have about what being a salesperson is all about, says Russ Whitney. "It's not about making a slick, fast-talking presentation or tricking someone into buying something they don't want, won't use, and can't afford," he says. "Selling is about solving problems. It's about creating win-win situations. It's about honesty, integrity, knowledge, and building relationships that serve everyone."

Second, Whitney says, understand that you can use sales skills in just about every aspect of your business and personal life. "Think about it: buying a house for no money down, getting a loan at a bank, convincing your spouse to support your dreams, even persuading your toddler to eat his vegetables--it's all selling," he says. "Once you realize this and work on developing your sales skills, you'll find it much easier to reach your financial goals--and in fact, you'll find just about everything in your life is easier."

Third, commit yourself to win-win results. "Too many people think that in any negotiation, you must have a winner and a loser. That's just not true," says Whitney. "You want people to come away from a deal with you feeling good, and that's why you work on reaching a win-win resolution. Communicate clearly enough and consider all your options so you can come up with a plan that benefits everyone involved. That's successful selling."

Fourth, learn the techniques. "The techniques of positive communications--which is what selling basically is--are techniques anyone can learn and develop," says Whitney. "There is no such thing as a 'born salesperson.' Learning the techniques may be easier for some than others, but everyone can learn them."

Fifth, get rid of your self-imposed limits and believe you can negotiate profitable deals. In his book Secrets of the Millionaire Mind, T. Harv Eker writes, "One of the principles we teach in our programs is 'If you shoot for the stars, you'll at least hit the moon.' Poor people don't even shoot for the ceiling in their house, and then they wonder why they're not successful. Well, they just found out. You get what you truly intend to get."

Whitney suggests taking courses, reading books, and studying successful people to learn effective sales and negotiation techniques. But, he says, the most important thing for someone to know about developing selling skills is this: "Always operate with truth, honesty, and integrity. Your reputation is the most valuable asset you'll ever have; guard it well."

Jordan Taylor is the editor of Millionaire Mentor™ Newsletter, which is published by Whitney Education Group, Inc.™ To sign up for a free subscription, visit http://russwhitney.com

Related Articles:

Boston Real Estate - Interest Rates and Inventory Must be Analyzed when Selling Your Boston Home
When selling your Boston home, it's good practice to be aware of what similar homes in your neighborhood have recently sold for. Recent comparable sales are not only what a good Boston real estate agent should use for guidance when pricing your home, but also what a bank appraiser will use if and when your buyer applies for a mortgage to buy your home.

Group Real Estate Investing Tips: Before you Invest with a Real Estate Group Do These 8 Key Things
Why group real estate investing? History has proven again and again that the people who thrive are the ones who work together. Have you ever considered the power of working together to invest with a group?

Florida Chiropractic Association Elevates RAPID EMR Chiropractic Software Solution to "Recommended" Status in Membership Benefit Program
ACOM's RAPID EMR clinical documentation and reporting solution has been upgraded to a "Recommended" solution within the FCA Membership Benefit Program of the Florida Association of Chiropractors. ACOM will hold a workshop on the solution at the association's annual Conference and Expo in Orlando-Kissimmee this week.

Montana Real Estate and Home Owners Insurance
Generally when something goes wrong in your home, it is usually serious and costly; nothing is ever certain and we must learn to plan for these eventualities. There are always going to be problems and we all have to do our best to protect what is valuable from natural events and also from people who want to cause us and our homes damage. You can product your Montanan Real Estate, homeowners insurance can help offset these problems when an agreement is made between the homeowner and the insurance company to pay for replacements providing a set amount called a premium is paid routinely.

PeopleScout and Jenny Craig to Present at Talent Management Superconference, April 2, 2008 in Orlando, FL.
Conference session will focus on best practices in recruitment outsourcing for increased employee and client retention.

Private Universities Remain Unscathed by California Budget Cuts
Academy of Art University Continues to Offer World-Class Education

Buyers Searching for Their Next Home or Investment Property in Florida Has Just Gotten Easier
Buyers can find their next home or investment property in the Northeast Florida real estate area without giving out their personal information, no hassles and using the latest Google mapping and search criteria technology.

Real Estate Information Gathering Should Be Consistent
As far as looking and buying potential properties are concerned, you have to wonder if you really need a real estate broker to point you in the right way We see properties for sale these days and apparently some of them are not to keen on dealing with brokers

Solid Advice On Real Estate Investing
Author of the ?Cash Flow Quadrant? book, Robert Kiyosaki, says his ?Rich Dad? asserts that investing is not rocket-science. Rich Dad suggested it?s just an issue of using sound judgment. But it?s common knowledge that common-sense is not, in fact, all that wide-spread.

Study Ranks California's Most Productive Universities
California boasts the most productive large research universities and is home to the #1 small research university in the country.