When in real estate, a lot of things can happen.
The market is cyclical, so change is to be expected. The difference between successful wholesalers and the ones that don’t make it is how we respond to those changes.
Take the instance when you make an offer to a real estate agent.
For some wholesalers, when their offer gets rejected, they get dejected and despite their numbers being good, a wholesaler will jump through the hoops to make their numbers work in order to satisfy the agent or seller.
Here’s the thing – today’s price is not tomorrow’s price.
Real estate agents are very aware of that fact and often, they’ll realize that their house isn’t selling because the house isn’t priced correctly. This is how homes can stay on the MLS or other housing listings for months.
The same thing happens when a deal you’re working on falls through. Again, it’s easy to get dejected by something not working out the way you were hoping, but in both of these cases, there is one thing I want you to know:
Just let things play out.
When I’m engaged with an agent and they either don’t like the offer I give or the deal falls through, I let things continue. I don’t sit and wait by the phone, I continue working on other deals I have and I continue to follow opportunities I’m aware of.
Eventually, those offers and deals come back around to me and because I acted with integrity and followed up with either the agent or the seller, they remember who I am and what my previous discussion with them was.
I’ve posted before about building up and maintaining relationships and this is why following up is so crucial.
In either of these cases, you have to follow up and continue to reach out to whichever individual you’re working with.
Real estate, regardless of the role you’re playing, is a business built on relationships and the more relationships you have, the better your opportunities.
In my recent coaching call, I spoke about what you need to do in the event that your offer gets rejected:
Market changes will happen, whether we like it or not, and the best way to be prepared for it is to make sure you are indeed prepared.
Having your offer rejected or a deal fall through isn’t the end of the world; you just need to do your due diligence on following up with buyers, sellers, agents, and other wholesalers.
As always, if you’re running into challenges with offers and deals, then come join us at AstroFlipping.