5 Key Factors To Ensure Your Real Estate Business Survives & Thrives
The last 18 months have been some of the best ever for real estate investors. Yet, whether we enjoy a continued bull run that attracts more big players, or we go through a correction, wise entrepreneurs will already be thinking ahead to how they can ensure their businesses continue to survive and thrive through whatever comes next.
These are five traits of successful businesses that will separate the ultimate winners from those that go bust…
They Treat Their Teams Well
A team and company is really all about the people. It is smart to recruit the best talent you possibly can. Though it is even more important that they are treated well. This is one of the leading indicators of future business success and longevity.
When companies start mistreating and abusing their team members, it will eventually show up in the sales and other company performance metrics. It becomes noticeable in customer service. Then it is all downhill from there. Take good care of your team, and they will take good care of your business.
They Treat Loyal Customers Well
This sounds super obvious, yet it is far rarer than you think. Many now very big companies started off well to lure people in and grow fast. Then instead of trying to offer more value and reward their most loyal customers, they think the shortcut is to milk everything they can out of their customers at all costs. The short in this shortcut is how long their success will last. You can look at companies like Netflix and see that in just months they’ve gone from over 90% market share to barely 40%.
They Prioritize Sustainable Thinking
If you only think short term, your success is doomed to only be short term. If you want your efforts and results to last you have to think long. That means setting big and long goals, and using those as a decision guide for what you do in your business today.
They Encourage & Embrace Innovation
Even the biggest and most established companies must constantly innovate or die. For younger companies, it is certainly the only thing that enables them to be in business and stand a chance.
This means being flexible in your strategies, and creative. It also means not only being willing to listen to your teams on the front line, but to actually test their ideas in action, even if some will fail and need tweaking.
They Invest In Themselves As Leaders
If you want your business to survive, and keep on being part of it you have to be sure you are investing in yourself as a leader to stay ahead of growth. Don't be the bottleneck and hurdle in your own business that limits it, or drags it down.
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"I want thank you for the excellent service I received from Best Transaction Funding.The quick response I received from your company from the beginning of the transaction and to the end was unbelievable. I also want to give a special compliment to you as well. You went to great lengths to keep me informed and gave my title company all the information they needed to complete a successful closing. I cannot express how thankful I am. Such service builds great working relationships. I will definitely recommend Best Transaction Funding to all my fellow investors. Thank You."
- Frank Olaitan, Real Estate Investor, MD
"I can't thank you and your company enough for providing funding for our latest project, and right at the last minute. You came through with funding in less than 24 hours and coordinated with the closing agent and attorneys like you had been involved with our project the entire way. I'll know exactly where to call for the funding we'll need for our next project."
- Dave Pricken, Real Estate Investor, NJ
"Thank you so much! I just had a talk with our Realtor on both properties and told him amazing things about your company!... Normally I rehab the houses and re resells them. I just don't have the patience for that work anymore. This [transactional funding] is such a better way for me and less stress."
- Steven Kupecz, Real Estate Investor, TN
"We want to thank you for the exceptional customer service you provided. No one comes close. We had contacted a competitor the same time we contacted your company. Your company responded with in a few minutes while the competitor has yet to respond weeks later even after multiple phone calls and emails. Thanks again for the unmatched customer service."
"We had looked into several transaction lenders for a couple properties we were trying to flip. Your company was the most responsive and had the best pricing. Even though we had logistics issues with the B/C lender, your company acted very professionally and handled our requests beyond our expectations."
"Thank you for your commitment to an excellent customer experience."
- Phoenix Properties, LLC, Ronald Destefani, Investor, PA
"I was studying on how transactional funding works and you guys had the best and most thorough explanations posted so I could fully understand the details in back to back closing. I'd already started setting everything up but your video confirmed that I'm on the right track."
- La'Donna Turnipseed-Scott, Investor, LA
"....a few months back, I happened upon a video, on your site, regarding the use of transactional funding with Hud properties; and I found myself replaying the video over and over because of the value that I saw in the message...it actually explained the process, step-by-step on how to submit a Hud deal by using transactional funding. Once I completed the video, my initial response was to take immediate action by duplicating what I had learned from the video into real time. So I did some research on properties in a market where I knew I had buyers; and put together a hud deal. I then located a realtor able and willing to submit my bid online and within a couple of days, to my surprise, received a call telling me that I had won – my very 1st Hud bid."
"To you I say, ”KUDOS to Best Transactional Funding and Thank you for providing the education and services to Real Estate Entrepreneurs like me. Please keep up the good work!'"
- T. A. Davis, Investor, NJ
"You each deserve high marks for your wonderfully quick response time to each of our questions and requests! You hit home runs with us! Your application system was easy to use. Our deal met your qualifications and every time Rob Kozak or any member of Mystic Properties, LLC phoned, we received a "real" person dialing back to speak with us.
Your patience and persistence were exceptional in dealing with our business interests. Thank you for such great customer service! We look forward to working with your staff, again, in the future. We like referring people to you, as us, our team would have missed-out on an excellent earning opportunity.
Your help negotiating with our title company made our back-to-back deal, finally happen. People noticed on settlement day how effectively and efficiently your part of the transaction was organized and executed. Again, thank you for truthfully being the "BEST" at what you do!"
- Diane McAdams, Mystic Properties, LLC, Real Estate Investor, Pennsylvania
"Boy, you guys are impressive! I can’t thank you enough for scrambling and getting my deal done at the last minute like that. You and your team were awesome!"
- Donna Bauer, The NoteBuyer Inc., Real Estate Investor, OH
"Thank you so much for working so diligently with me. Your services really are the "BEST". I look forward to working with you in the near future!"
- Ericka B., Real Estate Investor, CA
