Building Instant Relationships in Real Estate

Introduction

• Real estate is a people business; understanding how to interact with different personalities is crucial.
• The module emphasizes understanding personality types to build effective relationships with lenders, sellers, and buyers.

Personality Profiling

• People communicate in different "languages," which can be understood through personality profiling.
• Four major personality types are identified:
  1. Emotional Action Taker
  2. Relationship Builder
  3. Data Gatherer
  4. Competitor

Understanding Personality Types

Emotional Action Taker

• Characteristics: Open personality, excitement-oriented, optimistic.
• Communication Style: Use action language, word pictures, and excitement.
• Response: Easily distracted, disorganized, seeks excitement.
• Why Cop: For the excitement and high-speed experiences of being a police officer.

Relationship Builder

• Characteristics: Nurturers, caretakers, engender loyalty.
• Communication Style: Discuss relationships, helping people, ask for help.
• Response: Avoid confrontation, indecisive, loyal.
• Why Cop: To serve and protect and make a difference.

Data Gatherer

• Characteristics: Closed personality, detail-oriented, analytical.
• Communication Style: Communicate logically, provide details.
• Response: Will ask many questions, stick to decisions once made.
• Why Cop: For financial security and stability.

Competitor

• Characteristics: Closed personality, driven, goal-oriented.
• Communication Style: Direct, show the bottom line, challenge them.
• Response: Takes competition personally, wants to win.
• Why Cop: For the power and authority signified by the badge and gun.

Building Relationships with Personality Profiles

• Understand and communicate in the personality's "language."
• Use compliments and challenges strategically with competitors.
• Opposites attract but can also lead to irritation if not managed.

Communication Strategy

• Listen and ask questions to determine personality type.
• Adapt to their preferred communication style:
  • Emotional Action Taker: Excitement and storytelling.
  • Relationship Builder: Focus on people and relationships.
  • Data Gatherer: Provide facts and data.
  • Competitor: Be direct and challenge them.

Elevator Pitch

• Key to setting the tone for the relationship with potential lenders.
• Structure: Introduction, motivation, expectations, call to action.
• Adjust pitch based on personality cues from the listener.

Formula for Effective Communication

• Open Personalities: Engage with questions, tell stories, and be animated.
• Closed Personalities: Answer questions directly, provide detailed information, avoid personal topics.

Dealing with Lenders

• Build relationships, gather criteria, and understand their preferences.
• Do not discuss specific deals or ask for money on the first contact.
• Offer gifts like a credibility kit to enhance relationships.

Challenge: No Student Left Behind

• Commitment to assist every participant in closing a deal within 30 days through structured guidance and mentorship.