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Common Partner Mistakes |
| Here are the most common mistakes partners make. Every month, a partner loses an opportunity which costs them anywhere from 2 to 10 mortgage payments. It would be funny if it weren't so sad. |
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| The partner goes on vacation and doesn't tell me. Every single month, some dingle nut goes to Mexico and comes back a week later and asks about their property. Bummer. "Sorry Mr. Dingle Nut, I couldn't reach you and I took my buyer to someone that was paying attention." How difficult is it to keep me informed? If I don't hear from a partner within 24 hours, I take my buyer/tenant somewhere else. |
| The partner doesn't educate their partner on a lease/option. Mrs. Spouse goes sideways after reviewing the terms and decides that they don't want to do a lease/option or they need more time to think about it. I guess it was really too difficult to have their partner read this page BEFORE I brought a deal to the table. If I don't get a a call back from a partner within 24 hours, I take my buyer/tenant somewhere else. |
| The partner dilly dallies. The partner decides to sit on a contract for a week after I bring them a buyer/tenant. They want their lawyer, sister, uncle real estate agent to review the contracts. How difficult was it to have their lawyer, sister, uncle real estate agent read my sample contract BEFORE I brought a deal to the table? Since their property sat vacant for several months they didn't have time to do their homework. If I don't get a call back within 24 hours, I take my buyer/tenant somewhere else. |
| The partner thinks I called to chit chat about the weather. They forgot that I spend 8 hours a day on the phone trying to bring buyer/tenants to the table. I don't call people to chit chat about the weather. In fact, the only reason why I call a partner is because I have a deal in progress. They forgot that when I call, they need to freak out and rush to a phone. If I don't hear from a partner within 24 hours, I take my buyer/tenant somewhere else. |
| The partner doesn't like the terms of the deal after they agreed to the terms we have advertised. No problem, I take my buyer/tenant somewhere else. I then modify what we have advertised and let them eat 2 more mortgage payments. |
| The partner removes the key from the lock box. They can't imagine how pissed off I get after driving for an hour to meet with a hot prospect and discover I can't show the property. What is really hilarious is that the partner decided to save a dollar by not getting a key duplicated because they gave the one key to the cleaning woman. They saved a dollar and it cost them 4 mortgage payments! Don't laugh. This happens once a month. Guess what happens when I show up at a property and the key is missing? I shake my head and take my buyer/tenant somewhere else. There is less than a 10% chance that they will reschedule. |
| The partner doesn't return my emails. I check the status of a property about every other week via email. I don't have time to call partners and ask what they are smoking. Every week I turn someone off because they didn't respond to my email within a week. Just one click and poof - ALL their properties disappear from over 10 web sites. |
The partner wants the current estimated value inflated. Since they haven't faced reality yet and refuse to admit that properties values have gone down, they want to keep dreaming that theirs went up in price. They forget that the estimated value is not the price a potential buyer/tenant will pay for the property. Current estimated values have no bearing on a lease/option contract. Here are 3 reasons why inflating the estimated value works against a partner:
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Buyer/tenants have bad credit but they aren't stupid. One look at an over inflated property and they just move on to the next one. The days of hidden information are over. My site shows them in one instant how a property compares with others. |
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The average/buyer tenant can't afford expensive properties. By inflating the value of property, it pushes it outside the price range of more tenant/buyers. |
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Buyer/tenants are looking for a deal just like everyone else. There are thousands of other properties being unloaded BELOW comps. Showing a property above current value indicates an unreasonable partner. |
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Congratulations! Because you read this page, WE have an excellent chance of moving your property. You understand that returning phone calls and emails are the key to moving your property. Reading this page probably saved you 2 mortgage payments. |
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