real estate marketing, real estate internet marketing, real estate resources

W.I.I.F.M.- How to use those 5 letters to close more deals

Written on by Peter- REBB Founder

Here’s business insight #3 for you.

I’ll get right to it because this insight is very important. It’s an obvious one but you probably haven’t thought about it for a while. maybe you haven’t realized it yet. if you haven’t, think about it because this idea has the power to change how you run your real estate investing business.

Actually, any business for that matter.

So, what is that powerful insight you ask?

Well…

Whenever you are sending out your real estate marketing pieces, let it be postcards, post it notes, ads, and bandit signs…

Whenever you are meeting with your clients, motivated sellers, private lenders, hard money lenders, contractors, and inspectors…

Ask yourself the following questions:

If I were on the other end of this conversation, why would I want this? W.I.I.F.M. meaning what’s in it for me? Why would I want to take advantage of this offer?

Sounds simple right? But many people don’t think that way when they are running their business. Remember, it is a human nature to ask yourself “What’s in it for me?

Think about it. Whenever someone is selling you something, a real estate course, seminar, car dealer trying to sell you a car or anything else in between, what is the first thing that comes to your mind? What’s in it for me, right? We both know that the other party is getting our money. But what do we get out of the transaction.

Same thinking goes in real estate business. When you are talking to your motivated seller, trying to get him to sign a contract, you need to demonstrate to him/her that logic and emotion by acting on the opportunity is so much more preferable to them than inaction. From their standpoint, of course. You need to make it clear to them that acting on your offer is much more preferable to them than not acting on it. Point out benefits to them. Use logic and emotion to drive your point.

They need to be told what you are going to do for them and why. They don’t care how you are going to do it, they just want to know what and why. They need to know their benefits.

So, I hope this insight has given you some great insight. Think about that one question before you go out to your meetings and tell the other party exactly what they will get out of the transaction.

That’s it for today. I might have one or two more business insights. Post your comments below and let me know what you think. Have you thought about this before?

Better yet, hit the “Dig it” button above if you like this post. The way I see it, when more people know about this and use it, we will all benefit from it.

To Your Success,

Peter

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3 Comments on “W.I.I.F.M.- How to use those 5 letters to close more deals”

  1. Nick Cifonie |

    This is excellent advice, from a gentleman who has a lot of it to give… Peter and his Black Book are excellent resources for new investors, as well as full-time yahoos like myself. 🙂

    Nick
    http://www.rei-tv.com

  2. Rick Stuart |

    The key to any diect mail marketing is to highlight the “benefits” to the prospect not the “features” of your product or service. It is a key principle of marketing and is always good to be reminded of its importance to your business. Thank you.

  3. Peter- REBB Founder |

    @Rick Stuart

    You are right Rick. Always remember when doing any type of marketing that your target market is thinking one thing “How is this going to benefit me? What’s in it for me?”

    Good luck man,

    Peter
    Founder of REBB

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