I posted this in another forum, but I always like differnet views from differnt forums (they can vary quite some what). Here is my post with a response which makes sense. I’d like some feedback from here as well.
-----Original Post------
I’m looking to do some doorknocking in a rather rich neighborhood. Actually it’s the second most expensive (if not, the most expensive) neighborhood in the county. Most of the homeowner’s have huge companies and million dollar plus yearly income. I should also add in that they have an elitest mindset and a snobby attitude. Now, I cannot afford any of the homes here so obviously I would be partering with another investor. The issue I’m striving at here is how would I change my approach slightly? I’m looking to break through the barriers listed above and hopefully making some deals. I’m trying to see how I (especially looking younger than my age) can be convincing enough that I can help these people. I imagine these will be the toughest people to work with yet considering they do feel they are above the average. Your thoughts please ;]
thanks,
ryan
-----Response-----
I think fancy mailings might work better with these people initially if they are high-and-mighty. The more professional the mailings look, the better. Otherwise, someone in their $1.4M house might feel like you are getting the best of them. You may need to ask some pointed questions if you get an initial refusal…like:
“what do you plan to do?”
“what is it that bothers you about my plan to help you?”
Some feeling of control might have to be left for them to play ball.
Do people that live in 1.4 million dollar homes go into foreclosure? Yes they do however if you know anything about the foreclosure process what happens a lot of times is someone helps the person in foreclosure out. Now this is just a guess but if you lived in a 1.4 million dollar home you’d have some rich friends and they’d probably bail you out more times then not. Which would be much more a concern of mine then the breaking through the elitest attitude.
I don’t know how long you’ve been in the business but I’d invite you to start with the low hanging fruit first. Do a bunch of smaller deals with not as educated people. Then once you’re extremely comfortable with the process go for the big boys. Becuase a smart person that’s been around the block will see through a facade very quickly and talk circles around someone that isn’t sure of them self. And if they’re really ego driven maybe even make you feel like crap at the same time. Not because they don’t like you but rather because they’re feeling bad about themselves. One of my mentors always said there’s two ways to be the tallest building on the block. You could build one much grander then all the ones that are already there. or you could build a small one and bring a wrecking ball and tear all the others down. What I think you’ll find is people in foreclosure are often feeling like the small building. Those big dogs with wealth and power have much bigger wrecking balls then the people down on the bottom.
Just some food for thought. This business is awsome but how many times do someone have to feel absolutely worthless and small before they quit? Answer, most not many! So I invite you to protect your self-esteem and build from the bottom up like most successful businesses do.
i appreciate your detail reply! from your post, it’s clear how different forums tend to have different mindsets (as a whole). i do plan on starting with “the low hanging fruit first”, however I’m not sure I would bypass this home all together. my self esteem can’t be hurt that easily ;] . plus the experience itself might be worth it. great advice nonetheless ;]
Do you have an attorney friend who can help you with this? I call my attorney and put him on standby because he is the one who would handle the closing. Then I ask the owner to have his attorney call mine so that we can set up a meeting to discuss my proposals.
Now, you are working on the same level and in the same room as the big boys and immediately command their respect.
Remember that saying, 'I’ll have my secretary call your secretary and we can do lunch?"
Use expensive stationary, wear a suit when meeting with them, and call yourself a consultant and emphasize that you’re performing a service FOR them. Also be able to sound very knowledgeable and smooth, not use car salesman smooth, but confident smooth. Teach them something and they’ll respect you.
Thats how I’ve dealt with corporate bosses and business owners as a computer consultant. Usually worked even if I was talkin out my ass.
