3 Ways Giving Thanks Leads to a Better Real Estate Business

3 Ways Giving Thanks Leads to a Better Real Estate Business

3 min read
John Fedro

John Fedro has been actively investing in individual mobile homes since 2002 and in parks since 2016. Additionally, he’s been assisting other mobile home investors since 2006.

Experience
Investing since 2002, John started in real estate accidentally with a four-bedroom mobile home inside of a pre-existing mobile home park. Over the next 11 months, John added 10 more mobile homes to his cash-flowing portfolio. Since these early years, John has gone on to help 150+ sellers and buyers sell their unwanted mobile homes and obtain a safe and affordable manufactured home of their own.

Years later, John keeps to what has been successful—buying, fixing, renting, and reselling affordable housing known as mobile homes. Like almost every long-term investor, he’s made more mistakes than he can count. John discusses many of them on his blog and YouTube channel, where he shares his stories, experiences, lessons, and some of the experiences of other successful mobile home investors that he’s helped.

John has written over 300 articles concerning mobile homes and mobile home investing for the BiggerPockets Blog. He has also been a featured podcast guest on BiggerPockets and other prominent real estate podcasts, authored a highly-rated book aimed at increasing the happiness/satisfaction of average real estate investors, and spoken to national and international audiences concerning the opportunities and practicality of successfully investing in mobile homes.

John now spends his time actively investing in individual mobile homes and acquiring parks. He focuses on enjoying his time and partnering with other investors around the country to grow their own local mobile home cash-flowing portfolios and reputations.

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As active real estate investors, many of us would be happy with more incoming seller leads finding their way to our desk. This Thanksgiving season, start making it a point to consider giving more thanks to others you encounter on a daily basis. Before we go into some reasons why giving “genuine thanks” can lead to more happiness and a better word-of-mouth business, see a small list of people you may want to consider thanking next time you see them:

  • Real estate agents who have helped or supported you, even in the littlest ways.
  • Mortgage brokers who have helped or supported you, even in the littlest ways.
  • Bird-dogs who have helped or supported you, even in the littlest ways.
  • Investor friends who have helped or supported, you even in the littlest ways.
  • Mentors who have helped or supported you, even in the littlest ways.
  • Partners who have helped or supported you, even in the littlest ways.
  • Mobile home park managers/owners — if you invest in mobile homes.
  • Anyone within real estate who has helped or supported you, even in the littlest ways.

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Related: The Top 7 Things I’m Thankful For as a Real Estate Investor (What Are Yours?)

1. Helpfulness leads to win-win relationships.

Most people feel better about themselves when they are able to provide value and help to others. When you provide a genuine and heartfelt thank you to those you deal with in the real estate space, there are typically two scenarios that will take place.

  1. If the person whom you are thanking has already provided value to you, then they may likely feel honored and acknowledged for the effort and value they have brought to you in the past. The intended result is for your kindness to ultimately be returned in the form of a win-win relationship.
  2. If the person whom you are thanking has not already provided value to you or your business, they may feel persuaded to return your kindness with a favor. The intended result is for your kindness to ultimately be returned in the form of a win-win relationship.

Pro Tip: Being specific in your “thank you” may help foster positive behaviors and minimize negative behaviors. (Example: “Thank you, Mr. Real Estate Agent, for pulling those expired listings for me last week.”)

2. TOMA leads to repeat business.

TOMA is an acronym standing for Top Of Mind Awareness. When anyone in your circle of influence hears about a property for sale that fits your criteria, they should immediately think of you. If this does not happen, then you do not have “top of mind awareness” with these specific individuals.

Pro Tip: The old adage “the squeaky wheel gets the grease” certainly applies here. Get into the habit of being the “grateful and thankful” person people like and talk about. Consider calling folks back within 48 hours to thank them for their help and services. Even if these folks were only doing their jobs, a sincere thank you may go a long way to make a friend and close another future deal.

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Related: The Power of Gratitude: How to Boost Profits & Spread Joy With Thank You Notes

3. Self-thanks leads to your best self.

The first two topics both have to do with directly giving thanks and speaking one-on-one with people you work with on a regular or occasional basis. In this way, you are directly affecting people by increasing their self-worth and admiration, if only for a little while. However, perhaps the person in most need of a genuine thank you is your past self. The version of you from two years ago or two days ago deserves a thank you for certain things that have brought you closer to your goals.

Pro Tip: Aim to write down three things daily you are proud of yourself for accomplishing. (Example: “I am proud I made the time to read 30 minutes today.” “I am proud I called three sellers today.” “I am proud I found the courage to ask questions I didn’t know the answers to today.”)

Always remember that real estate investing is a journey. The journey is the fun part. We almost never reach the end by ourselves, and there is a team of people who have helped us directly and indirectly along the way. Aim to give credit and thanks when due. Plus, don’t forget to love and respect the most important person in your real estate investing business — you.

Who are YOU thankful for this year?

Let me know with a comment!