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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
MORE RESOURCES: Real estate inquiries by wealthy New Yorkers into Florida properties jump 50% after Mamdani primary win Fox Business Residential real estate developers cut jobs as downturn deepens The Globe and Mail Real estate CEO warns of growing ‘exodus’ as people have ‘given up’ on California — but where are they going? Yahoo Finance Compass to share exclusives — if brokers, MLSs play by 2 rules Real Estate News by RealEstateNews.com Russian Demand for U.S. Real Estate Surges 78.5% The Moscow Times Providence Hill Real Estate owners buy office building near Tuckahoe HQ Richmond BizSense What renters really want | Real Estate Newsletter Inquirer.com Nantucket’s Workers Are Living on the Margins The New York Times OT Real Estate Spotlight of the Week: 1555 Graves Lane The Owensboro Times Here are businesses on the move in Marin, Solano, Napa, Sonoma and Mendocino counties The North Bay Business Journal Property transfers: Marion County sales range from $20K to $390K The Marion Star Despite signs of market rebalancing, real estate in this NJ town remains hot. Here's why Bergen Record Real estate sales in Peoria, Tazewell and Woodford counties for July 12, 2025 Peoria Journal Star $1.225 million Symmes Township home sale among the week's top property transfers Cincinnati Enquirer Homes in Lubbock County sold for higher prices recently: See how much here Lubbock Avalanche-Journal Homes in Cumberland County sold for higher prices recently: See how much here The Fayetteville Observer A Look At Plymouth Co Real Estate Numbers WATD 95.9 FM Real Estate Transactions sungazette.com NYC Real-Estate Execs Throw Money Behind Adams to Counter Rise of Mamdani The Wall Street Journal Berkshire region real estate sales – July 11, 2025 The Berkshire Edge Business Spotlight: Trujillo Commercial Real Estate Group The Paso Robles Press Agent-built AI chatbot serves up real advice with a sense of humor Real Estate News by RealEstateNews.com Westmoreland County Real Estate Transfers The Latrobe Bulletin Berkshire County Real Estate Transactions for June 23-27 The Berkshire Eagle LOCAL REAL ESTATE TODAY 7.11.25 KQEN News Radio Property transfers: June sales range from $11K to $5.8M in Crawford County - Bucyrus Telegraph-Forum Property transfers: June sales range from $11K to $5.8M in Crawford County Bucyrus Telegraph-Forum A tale of two Floridas: Real estate industry torn over DeSantis' push to eliminate property taxes Fox Business TIM SCOTT REAL ESTATE - 83275 Caledonian Record Don Fenley: Tri-Cities housing market sees uptick in June Kingsport Times News Florida real estate: See the most expensive home sales across the Treasure Coast in June Treasure Coast News Real estate investors are purchasing more U.S. homes as high prices lock out would-be buyers CBS News Tampa real estate investment firm under investigation for potential deceptive practices Florida Politics Weekly building permits, real estate Boca Beacon Homes for Sale in Manhattan and Brooklyn The New York Times RLTY: Reasonable Real Estate Income For Now (NYSE:RLTY) Seeking Alpha Dawson County weekly real estate transactions, July 11 Central Nebraska Today EG Real Estate: 8 New Listings & 5 Sold East Greenwich News Department of Taxation and Finance dos.ny.gov How a legal battle of real estate titans affects home buyers Straight Arrow News 2025-2030 Five-Year Housing Market Predictions U.S. News Real Estate SDCERS to lift infrastructure allocation as it trims real estate IPE Real Assets Jackson State To Offer Real Estate Course Radio NWTN NEO's industrial real estate market loosens slightly but remains tight Crain's Cleveland Business Mortgage Rates Today: The States Offering Lowest Rates – July 11, 2025 noradarealestate.com Queens real estate trends: What buyers are looking for, according to Compass agent Thomas Caramanno Queens Post Real estate news: 18-unit apartment complex in Surf City fetches $7.4 million Orange County Register Michael Guthrie discusses real estate uncertainty amid Charlottesville zoning freeze Cville Right Now The Seyon Group Acquires Industrial Portfolio in North Andover for $12.5 Million Boston Real Estate Times Patrick Cadle joins Grist Real Estate Mountain Messenger New Hampshire housing market sees 65 straight months of growth The Laconia Daily Sun Hawaii residential real estate experts on negotiating and marketing homes in 2025 The Business Journals Navigating Trump's Tax Megabill: Winners and Strategies in Real Estate, Manufacturing, and Energy AInvest Developer, neighbors worked together to decide how a key corner of Austin will look The Business Journals Real estate boss targeted in San Francisco with smear campaign The San Francisco Standard Confusing housing stats & real estate nerds Sacramento Appraisal Blog Real estate feels weird right now — but not broken Rome Sentinel TRS Texas commits $675m to real estate Private Equity Real Estate | PERE |
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