In the age of instant gratification, transparency is the key to being successful. As consumers, we want to be able to trust every single product that catches our eye. Will businesses always come off as trustworthy? Of course, not but it is the duty of the owner to be upfront with their business. For residential hard money lenders, this should be a top priority when you are conducting business.
After the housing bubble peaked many people were on guard about any potential lemons in the market. People are still purchasing home, but the numbers are not as they were in 2008. So, why has there been a decline in home buying? Frankly, it’s too expensive to pay for most Americans. Couple that with many people taking bad loans and investing in terrible properties no one wants to buy right now.
Potential homebuyers want to be able to trust the person that they may be investing with. The best way you can start earning people’s trust is through social media. No, you do not have to do a daily vlog like Casey Neistat, but you could offer differ tips and tricks that could help a potential investor. For example, a quick informational Instagram video will suffice for many people. As long as the information that you are presenting is in small bite size chunks people will follow.
Facebook is your friend if you are a residential hard money lender.
Facebook has begun dragging itself out of the mud in recent years by adding more user-friendly tools that will increase traffic and transparency. Give your customers updates on current trends that are happening in the real estate world. Take the time to research different properties around your immediate area to help homebuyers get the most for their money. Make sure you are actually talking to the people that leave you messages. We live in a tech-heavy world now and many people crave human to human communication. Automated mailing lists are not going to cut it anymore.
After you have replied to your messages try using Facebook Live to broadcast whatever you may be doing. You could hold a free fifteen-minute seminar each Friday; in it, could be a Q&A forum providing people with short answers to any questions they have. If you tend to be outside the office more you could also begin live video with Instagram or Periscope. Make yourself more available and start getting familiar with different types of social media.
All that aside you need to provide unwavering service.
When you look at the real estate market it is evident that residential hard money lenders are very common. Major cities could have up to a half-dozen. To stick out as a lender you communicate and handle all of your business effectively. To win in this climate you have to be able to connect with your clients on a deeper level.
Take the time out to get to know a few of your clients. Give them a few incentives that you know your competition cannot provide. Above all make sure that you come across as a real person.
Dennis Dahlberg Broker/RI/CEO/MLO
Level 4 Funding LLC Private Hard Money Lender
Arizona Tel: (623) 582-4444
Texas Tel: (512) 516-1177
Dennis@level4funding.com NMLS 1057378 | AZMB 0923961 | MLO 1057378
22601 N 19th Ave Suite 112 | Phoenix | AZ | 85027
111 Congress Ave |Austin | Texas | 78701
About the Author: Dennis has been working in the real estate industry in some capacity for the last 40 years. He purchased his first property when he was just 18 years old. He quickly learned about the amazing investment opportunities provided by trust deed investing and hard money loans. His desire to help others make money in real estate investing led him to specialize in alternative funding for real estate investors who may have trouble getting a traditional bank loan. Dennis is passionate about alternative funding sources and sharing his knowledge with others to help make their dreams come true. Dennis has been married to his wonderful wife for 42 years. They have 2 beautiful daughters 5 amazing grandchildren. Dennis has been an Arizona resident for the past 40 years.