mistakes in investing, mistakes investors make, mistakes in paperwork

Major Mistake Investor/Realtor do when sending paper work.


Hey, gang, this is Mike with My Real Estate DOJO and today’s topic is a quick topic that I see all my mentoring students do, including my employees from my different companies.

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One of the biggest mistakes the do is when they send out a document to their clients. Let me give you a couple of examples. They send a document to their client  via fax or email and a couple of days later their client calls them back and says “Hey, I didn’t receive this document”. Let me give you an example. In my moving company a lot of the times my employees will send a customer a quote, maybe via fax, maybe via email and two days later the customer calls back the office and says “Hey, I never received that information”.

There could be many different reasons: maybe the fax got spammed out, or a technology broke down. The point of the story is that the key is if you send your clients some type of information, let’s say your proposal, if you are a real estate investor you send them a contract, it’s very important that instantly after you fax it or you email it, you instantly pick up the phone, call the customer and let them know that you just faxed them that information. At the same time, send them a text.

What I do when I send an offer to a seller, I not only call the seller, but I use voice messages, so I can go right into their inbox. I also text them and let them know that the documentation is there. Again guys, this happens so many times with my mentored students, new investors or even with my employees. The point of the story is, when you a send a piece of documentation to your customer, whether it is a seller, a buyer and vendor, you need to call them and also text them to let them know that you sent that information and so they can instantly go look it up and confirm.

A lot of deals get lost or delayed because of miscommunication, because I didn’t get this paperwork, the title company didn’t get this or the seller didn’t get this. To solve the day, if you want to make money, you are the one who has to go the extra mile, you are the one who has to do the job of the title company.

You are the one who has to do the job of the seller. I know its not your job, but if you want to make money, you’ve got to sometimes carry your weight and other people’s weight for a deal to go through as smooth and as fast as possible. Gang, go out there and hustle and bustle. Don’t take ‘no’ for an answer. Have a great day!

 

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