Your Reputation Is Everything

Your reputation is everything. The real estate community is very small and word gets around if you have a checkered past.

The Past Can Come Back To Haunt You

One political candidate was once backed by all of the major real estate organizers because his values aligned with small business owners and he fought for property owner rights.

But in the middle of his campaign, there were accusations of domestic abuse that were brought to light. Even though these accusations weren’t proven, the fact that there was a “cloud” on his record was enough for the organizations to pull his endorsement. After all, no one wants to be associated with someone accused of domestic abuse.

Retrading Is Bad For Your Reputation

In another case, some investors ruined a deal by renegotiating terms after signing the contract with no contingencies. The agents never forgave the investors and vowed to never work with them again.

I’m sure they let their office-mates know to never work with them either. Agents are the lifeblood of many great deals, and by trying to squeeze blood from a rock, they ruined the deal and cut off the deal flow from this agent and their associates.

Do Good, And You Will Be Rewarded

Likewise, if you have a good reputation, great things happen for you. If you’re known to be a good performer, and you do what you say you’re going to do, more deals will come to you. Agents and other investors will come to you first when they have a juicy deal. You’ll be able to raise funds from others to do deals with no capital out of your own pocket!

People will spread the word that you’re an honest person and will be happy to do more business with you in the future and will refer their friends to do the same.

Your reputation is incredibly important. The community is small and the word gets out if you’ve wronged someone else. Make sure that you ALWAYS do what’s right for others, even if it comes at your own expense. You’ll be rewarded handsomely in the end.