Build Trust with Motivated Sellers Using A Credibility Binder
Credibility is everything when you sit down with a motivated seller to talk about how your real estate investing strategies. Making a credibility binder helps you systemize your process when meeting motivated sellers.
Their home is likely one of the biggest purchases they have ever made. They are probably distressed homeowners that they need to sell quickly. So, building credibility is essential in gaining trust.
Building credibility happens at every stage of real estate investing:
- Sending professional looking marketing materials before the seller even knows who you are.
- Showing confidence on your first phone call leading to setting an in-person appointment.
- Building credibility at the in-person appointment.
Taking a credibility binder shows the seller that you are serious about your real estate investing business. This lays the framework for why they should work with you.
There are many things to include in a credibility binder, here we will discuss the most important items.
What to Include in a Credibility Binder
Your business is nothing without a professional business card. It gives the seller your contact information and it shows them you run a legitimate business. Business card printing services are not expensive and many include ready-made designs.
An Introduction to Who You Are
The first part of your credibility binder should include several items:
- An introduction to you and your company. When did your business start? How do you help motivated sellers?
- Information about the local real estate market. This might include the number of cancelled listings in the area, other statistics that encourages them to work with an investor versus doing a traditional sale.
- Shows them the reality about selling their home the traditional way by including estimated real estate commissions, holding costs, repair costs, etc.
- A printout of comparable properties that have sold within the last six months.
All of this information will show the seller that you are serious about your business, and about due diligence. Showing your knowledge about the local real estate market builds confidence that you are a reputable real estate investor.
If you are involved in any local real estate associations or professional organizations, this is the place to put that information.
I always recommend joining the Better Business Bureau as soon as you start your business. When you are associated with the BBB you can use their logo to provide credibility and as you grow, your rating can show motivated sellers that you have helped others.
When you have a few investments under your belt, include testimonials in your credibility binder. Ask your sellers to provide a written letter about how your services helped them get out of a distressing situation with their home. There is nothing better for credibility than hearing straight from people who are familiar with your business.
Building credibility is just one aspect of running a successful real estate investing business. I invite you to download my free online Unlimited Funding program so you can get started on your journey to a life of financial freedom starting today!