5 Ways to Sell Yourself Like Donald Trump
Most people don’t realize the role that people skills play in real estate investing success. It is not just a matter of financing, buying the right property, getting tenants, and so on. All these elements are built on a foundation of having the right personal qualities.
Great real estate investors like Trump are also great entrepreneurs. They know that they know how to get people excited about their bold ideas, and they are undaunted by the setbacks, problems, and disappointments that cause most people to give up.
#1 Use your enthusiasm to inspire others.
Enthusiasm is a crucial element of the investment game because your success depends largely on capturing the imagination and securing the cooperation of key players—buyers, sellers, lenders, tenants, contractors, and others. If you’re not enthusiastic about your real estate investment idea, there’s no way you can get someone else to sign on.
So be like Trump, sell hard. If you can maintain your level of commitment and enthusiasm in the face of initial doubts, you’ve taken the first step toward getting the support you will need to succeed. Trump knows that enthusiasm is contagious. Enthusiasm can also overcome many obstacles.
#2 Build relationships with everyone involved in a deal.
The reason you have to build relationships, especially at the beginning of a real estate transaction, is that people are naturally suspicious of others. Until you have built up a level of trust, it is likely that what you say will be somewhat discounted.
Before Trump knew Victor Palmieri, with full confidence he called Palmieri. He introduced himself, and said, “Give me 15 minutes of your time and we can reverse the decline of the City of New York and increase the value of your Penn Central holdings.” In the meeting, Trump got Palmieri’s attention and a solid working relationship was created.
#3 Showmanship is a real estate strategy.
Anyone who is involved with a real estate transaction, especially a fixer-upper project or new construction, has undoubtedly spent a lot of time and effort thinking about the details of it: how it will work, why it will be good for everyone involved, how it will be successful, and what the end reward will be.
Keep in mind that other people whose help you need are starting off cold. They haven’t spent the weeks or the months living with this project that you have. To get them to share in your dream, you have to come up with a way of making it interesting to them. This is called showmanship — and it is one of Trump’s signature traits.
#4 Be better prepared than anyone else.
The key is anticipating problems and questions that other people will ask about your proposal and having answers ready. Donald Trump spends significant amounts of time preparing for important meetings in which he needs to persuade a key person or group.
When Trump has a person interested in a transaction, he will do everything he can to make his involvement in that transaction easy. Take advantage of the fact that most people are not willing to spend time on preparation.
#5 Be tenacious.
One of the biggest roadblocks the investor will encounter is mortgage lender. Tenacity can help a lot here. If the first lender you approach denies you a loan, keep trying with other lenders. Another potential roadblock could be a stubborn seller. Here you have to find out exactly why he or she does not want to sell, then in a determined way, answer each issue.
Other possible roadblocks could be denial of a zoning variance or a building permit. Find out what the bureaucrats’ specific concerns with your plans are, then address these issues. Everything worth doing is difficult, and in order to accomplish it, you have to be tenacious.
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