Hi Everyone,
Would you believe it if I told you that novice real estate investors are bullied by members of their real estate team?
Sounds crazy, doesn’t it?
This is an unfortunate situation that some aspiring real estate investors find themselves in when they are first starting out investing in real estate.
These new real estate investors find themselves in this difficult situation when they are surrounded by a real estate team that does not have their best interest at heart.
When a new real estate investor is first selecting their real estate team, they have to be careful. If they are not careful the people that they select to their team may not be compatible with them. Even worse, these members of the team could create a hostile learning environment for the aspiring real estate investor.
In previous posts I have talked about your Real Estate Team, and the importance of picking a solid team of great people that you can count on.
It is incredibly important for a real estate investor to select people that they are ‘in harmony’ with.
What does ‘in harmony’ mean?
‘In harmony’ means, selecting people to one’s team that have the your best interest at heart.
From my personal experience, I have always selected people who:
- Know more than I do
- I like
- I can trust
- I feel comfortable around
- Who are ‘good people’.
- I can get along with
- Who treat others with respect
Why do new real estate investors end up getting bullied by members of their team?
Many new real estate investors when they are first starting out are not confident. They are not confident about their real estate knowledge, or they may not be confident about their abilities.
Due to this lack of confidence, novice investors will often listen to any advice that is presented to them.
Advice is often free, and because of this, new investors have to be careful who they are listening to. Just because advice is free, does not mean it is good advice. There are real estate ‘professionals’ out there that are looking to take advantage of new, unsuspecting real estate investors.
In the real estate investing world, there are many great Realtors, Lawyers, Accountants, and Mortgage Brokers who all offer advice to the aspiring investor. At the same time, there are also very poor Realtors, Lawyers and Mortgage Brokers who offer terrible advice to the novice investor.
These poor professionals who lack integrity often prey upon new investors just starting out. These poor professionals can bully new investors in the following ways:
1) Mortgage Broker – A poor mortgage broker can bully a new real estate investor into selecting a certain type of mortgage product that may not suit the needs of the investor.
Further a poor mortgage broker may convince a novice investor that it is ‘okay’ to commit mortgage fraud by lying about details on their mortgage application.
2) Real Estate Lawyer – A poor real estate lawyer can bully the new investor into paying increased fees for no good reason.
3) Realtor – A poor Realtor may bully the new investor into buying a rental property that is overall a poor choice. The property may not be a good cash flowing property, or it may be located in a poor location.
How to get rid of the real estate bully.
As a real estate investor, at some point in your investing career, you may end up with someone on your team that should not be there. Somehow people that you do not totally ‘jive’ with will find their way onto your team. Perhaps initially when you were selecting them to your team, you thought that they were someone completely different to the person they turned out to be.
At the end of the day, if this person does not have your best interest at heart, it is okay to get rid of them.
Attention New investors…avoid the real estate bully by always selecting to your team, real estate members that you are ‘in harmony’ with you.
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Onwards and Upwards!
Neil Uttamsingh
[youtube]http://www.youtube.com/watch?v=Uo-gJRevzv4[/youtube]
[…] How To: Get Rid Of Real Estate Bullies Posted by: shanna | Category: Real Estate Investing […]
[…] writing on the blog has improved over the past year. I will admit, some of my earlier posts like, Are You The Victim of a Real Estate Bully? are not as polished as some of my most recent posts like, The Dark Side of Real Estate […]