What value do you put on your image?

Deone Doctors

Member since 2018 · 45 posts · 14 votes

6y

@Kris H.

Don't suppose you'd be willing to share the Table of Contents of that binder?

Contractor · Eureka, CA · Member since 2015 · 100 posts · 64 votes

6y

@Jason Ridout I save it for the right time and place, mostly for banks/lending. But I will say it matters to point.. there's a difference between frugality and appearing like you're a con man after leaving a business meeting and getting into your car with 3 donut wheels and a cracked windshield. I actually respect frugality, and most of the truly wealthier people I know (mostly work for at this point, as a carpenter and part time REI) drive pretty modest vehicles and don't bother dumping tons of cash into one of the worst performing assets of all time.

I don't dress that way or have a ultra fancy car because that's not who I am and don't feel like I need it. My pursuit of REI is for me and my family and I've got nothing to prove to anyone else but myself. I also grew up in a place where looking like you had money made you a target so there's that too, lol.

Member since 2019 · 1k+ posts · 1k+ votes

6y

@Deone Doctors

I sure would yes. Fire me a dm I’ve got resources for you. Worth noting I’m in Canada so certain things won’t directly translate. Example, we have a T4 (employer statement of earned income) that I believe translates to a W2? So stuff like that will need massaging.

Nathan Tabor

Winston Salem, NC · Member since 2017 · 15 posts · 17 votes

6y

"People may doubt what you say but they will always believe what you do."

If someone is working with you because of the shirt you wear or the car you drive then you need to RUN from them. Why? Because they only care about outward appearances.

Be fair, be respectful, be honest and you will be amazed at how people respond to being real.

kelowna · Member since 2019 · 19 posts · 3 votes

6y

I don't think you need to have a brand new mercedes, however i absolutely think a newer car is solid investment for your image. even a 2017 civc looks better than a 4000$ beater.from a financial point of view i completely agree with driving a car that costs you nothing but there is just something intangibly distasteful about someone you want to do business with pulling up in a rougher looking car. just one mans opinion.

Paula Sweeney

Old Greenwich, CT · Member since 2014 · 9 posts · 2 votes

6y

@Jason Ridout I. Place. The. Highest. Respect. Towards. Myself. Which. Was. Instilled. In. Me. As. A. Child. I. Am. Royalty. Believe. It ( I. Say. This humbly), I. Am. Worthy. & exude. It. Graciously.

Paula Sweeney

Old Greenwich, CT · Member since 2014 · 9 posts · 2 votes

6y

@Jason Ridout

Paula Sweeney

Old Greenwich, CT · Member since 2014 · 9 posts · 2 votes

6y

@Jason Absolutely. Show up. Well. Dressed. Not. Flashy, crisp, clean.

Dennis M.

Rental Property Investor · Erie, PA · Member since 2018 · 6k+ posts · 9k+ votes

6y

This can all be addressed by a simple phrase ;

Dress how they dress.

If I’m meeting tenants or somebody desperately sell their fixer upper house I’m certainly not pulling up in my corvette with khaki dress pants loafers and a silk shirt !

If I’m meeting with a bank president , a home buyer , or a private lender I’m certainly not going be wearing ripped up jeans , Nike’s and a Motley Crue t shirt .

Dress how they dress . Talk how they talk , do what they do . People do business with folks they know trust and like .

Ian WalshBusiness Member

Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes

6y

I don't place value on my image. I also don't judge others by theirs in this game. The signature old school look in a successful real estate investor is sweat pants with a Rolex. This business is designed to not wear suits and it is kind of a trademark. I treat everyone the same and can tell within a very quick conversation if I am dealing with a pro or not.

Ryan Proffit

Saint Joseph, MO · Member since 2018 · 401 posts · 244 votes

6y

@Jill F. From reading your posts you are always dropping gold. We have had an 02 ody, 05, and now we haul rental stuff in our 14. Keep sailing that van!!

Investor · Milwaukee, WI · Member since 2013 · 1k+ posts · 1k+ votes

6y

This topic is on my mind lately, as I shift from a hermit to the public eye. Clearly this issue is one that all depends on what you do in your business. There is no doubt that sales requires image.

I own in the rough part of town. When I go down there, I look crazier than some of the people there do. I do that on purpose, but frankly it is easy for me because I get dirty and have never given one crap about my exterior image to others, only what is on the inside. This is how I judge others too, and my belief system tells me it's the right thing to do.

But a few realities have surfaced lately. The first is I am questioning my historical appearance. While I do not care what people wear and think others ought not to either, the truth is I don't have to look at myself while others do. Is it really such an issue to be courteous of others in this manner? Isn't it really rude of me to expect others to accept my value system? So, I shave more and am working on getting some better threads. My father, who does not leave the house with a hair out of place and thinks you aren't dressed if you don't wear a belt is pleased, but still thinks I need to shave clean each and every day. That aint going to happen because again for image purposes, I have a baby face. Maybe now that I'm also grey I can rethink that one.

But what is really hitting home for me lately is my name. My name is Merritt, that's my first name. I've always been annoyed with my parents for naming me that, and it has taken many years to come to terms with it (it's an old family name - my mom thought it was "neat"). I guess I'm glad they didn't name me Sue.

But I've been working to build a different business lately where I need to do constant sales. I have some strengths and have been using them, but that damn name is actually an issue. I know this without question because I have a partner, both our names/contact information are on our marketing, and he keeps getting calls where the person has actually said they called him because they thought the name Merritt was strange - yea, it is. I've been waiting 50 years to meet another Merritt and most of them that are out there are girls, not guys (Merritt is actually the masculine, Mera is the feminine, it's Irish or Welsh).

So, on the subject of image. You bet your socks it matters. And people are fickle and may have false impressions on the smallest and most insignificant things, and might ignore the important things entirely at the same time. All good sales people know this and disobey at their own peril.

My middle name is William, and I am seriously considering going with Bill. My partners name is Tom. Bill and Tom, Tom and Bill, that has a nice ring to it. I guess I'm just having a hard time accepting I might have to actually go to such lengths, and it ticks me off too considering my own value system. But reality is reality.

There's a movie out on the history of McDonald's starring Michael Keaton as Ray Crock. One of the lines in the movie (of course this might not be true) is Ray admits to the McDonalds brothers that the only thing he really ever wanted was the name.

2 Reply

Steve K.

Realtor · Boulder, CO · Member since 2016 · 3k+ posts · 5k+ votes

6y

@Jason Ridout “Well forgive me but it’s my personal philosophy that in order to be successful, one must project an image of success at all times.” —Buddy Kane the RE KING (Peter Gallagher) American Beauty 1999. In sales you always want to dress like your customer, talk like your customer, look like your customer, etc. in order to be relatable and make them feel comfortable with you. We bought a quad off an older gentleman who owned many millions worth of multifamily properties and was offloading them to retire in Columbia. At the closing table he was wearing ratty old jorts: jean shorts cut off at an in appropriate height on his 80 year old thighs, and a dirty muscle T that must have been purchased from Woolworths for 15 cents in 1950. If we buy another property from him I will wear jorts and a muscle T to the closing. When you get to his level you can wear whatever you want. Until then, dress to impress but don’t overdo it.

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Natalie KolodijBusiness Member

Moderator

Tax Strategist| National Tax Educator| Accepting New Clients · Member since 2014 · 3k+ posts · 4k+ votes

6y

I've been seeing posts all week from a power couple who are speaking at a few large events, dressed all nice, showing the cars off they pull up in.

Who are literally waiting on a wholesale deal to close before they can afford my tax preparation fee.

Sometimes people put their image and perceived success ahead of their actual success in this business.

Kolodij Tax & Consulting

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6 Reply

David Frandsen

Real Estate Agent · San Diego, CA · Member since 2014 · 205 posts · 123 votes

6y

You don’t need to look good to be successful in real estate. Just look at Donald Trump! ;)

Jason Ridout

OP

Rental Property Investor · parksville, bc · Member since 2017 · 153 posts · 148 votes

6y

I didn't think I'd get this much response and such differing opinions.

What @Account Closed said about him wanting to change his name due to the fact that he thinks it's costing him business sums up a lot of the point of this topic. His name doesn't effect how he does business, but when meeting new clientele, something as simple as a name can sway people to not do business with you. Is it ridiculous that some people base their opinions on something as simple as a name? Absolutely, but first impressions are everything. (For the record I think Merritt is an awesome name)

If you were a personal trainer, and were 80lbs over weight, how much harder would you have to work to get clients? Even if you knew everything about nutrition, had awesome work ethic, could run 6 miles in 45 minutes and could bench 200lbs, it would be a tough sell to new clients because you don't look the part. If you were a rockstar trainer, your reputation will eventually help you build a good clientele, but in the mean time, it's going to be a struggle.

I think we might need to use image to build a name until reputation can carry us. A lot of people mentioned reputation and work ethic is far more important than image and I 100% agree, but how can you show people your work ethic without clientele?

Another take away from all this reading is that it depends on who you are dealing with. Tenants don't want money rubbed in their face, nor do contractors. You don't need to impress some people, but your mortgage broker, JV partners and hard money lenders need to see that you are succeeding.

You also need to play to the crowd. If you are Air B&Bing penthouses in New York for $2,500 a night, dress the part, if you are placing tenants in a $500 basement suite in the ghetto, don't show up in a BMW.

Age and location also play a factor. Millennials don't seem to care as much about image and might be put off by a suit, but a 50 year old couple buying a nice house might expect it. California and Kansas probably demand different standards as well.

I guess it comes down to to each their own. If you feel like a champ walking into the bank in sweats, go for it. Confidence is the best thing you can wear. Personally, I host seminars, help investors buy properties, do joint ventures and discuss real estate investing with anyone that will listen. To convince people that investing in real estate is profitable and that I know how to succeed at it, I feel I need an image that draws people to the idea of investing. If I can portray the lifestyle people want, hopefully people will want to know how I did it.

There is a fine line between looking professional and rubbing money in peoples faces. Looking like someone people want to do business with and coming off as a pretentious A-hole is a balancing act and will need to be adapted to the demographic of age, income, status and expectations of the person you are dealing with.

Thanks for your comments everyone!

3 Reply

Connor Stark

Real Estate Agent · Los Angeles · Member since 2019 · 57 posts · 40 votes

6y

In my eyes it depends on the side of real estate, your target client, and then there's usually a threshold once you've reached your "returns" start to diminish.

If you're an agent, you want to be clean and professional in almost all cases. I've done a decent amount of work in South LA, and other low income areas, and honestly I feel more confident wearing a nice short sleeve with normal pants and presentable shoes. I believe showing up to certain areas in a very expensive suit and car could be a disadvantage, the fact of the matter is some people have a sort of grudge when it comes to others who might have more money than them. Now if you're in Beverly Hills as an agent, don't get caught not dressing the part, and if you don't have nice sports car, you should have a good reason lined up for why. If you're an investor, I think it's little more cloudy. You can get away being more liberal in your appearance if the knowledge is there.

2 Reply

John Teachout

Rental Property Investor · Concord, GA · Member since 2015 · 3k+ posts · 3k+ votes

6y

Today my wife and I met with a realtor to view a commercial property in a small Georgia town. I was in my paint and caulk covered clothes. We viewed several buildings on the property. I then explained to her why I couldn't readily draw a line between the investment and profitability. (this was a pocket listing)
We then drove two blocks to visit a new rental and check on a door closing issue. Drove two more blocks and resolved an electrical problem the tenant had for 4 years. (we handed him a notice of increased rent too). We then moved over to the other side of the duplex and sealed a cracked bathtub and then replaced all the plumbing under the kitchen sink including the sink drain baskets. So overall the dress was appropriate to the majority of the tasks at hand.

Julie MarquezPro Member

Investor · Skagit County, WA · Member since 2016 · 1k+ posts · 807 votes

6y

@Account Closed I know of a Merritt guy, he's around 20 now and I always thought that was a "neat" name too. Wanted to name my son that. My dad is William and Bill is a solid, traditional name.

Investor · Milwaukee, WI · Member since 2013 · 1k+ posts · 1k+ votes

6y

Originally posted by @Julie Marquez:

@Account Closed I know of a Merritt guy, he's around 20 now and I always thought that was a "neat" name too. Wanted to name my son that. My dad is William and Bill is a solid, traditional name.

Don't do it!!! LOL. Name the kid William Merritt if you have to, but not Merritt William. My wife and I both have name issues (she had a hyphen last name), so we named our kid something interesting yet safe, with a more traditional middle for back-up if she hated our choice - lol! See, you have no idea my friend, because Julie is a common, normal and nice-sounding name. Who doesn't like a Julie??? LOL.

Did you say Mary? Can you repeat that? Merritt??? Did you say Merritt? Like the badge? Like the cigarette? How do you spell that? Two r's and two t's? Never heard of that. Hmm...(long awkward pause as they think of the couple of Merritts they have heard of who are girls or it's a last name or it's a place)... Then a comment like... "that's neat" or "is that a family name" or "ok". And if it's a kid talking to a kid well, then it's Merritt the Parrot - Merritt the Ferret - Merritt the Carrot - lol. I had more than one adult tell me when I was a kid that they were just going to call me Mert. So yea, back to the thread, a name has a lot to do with image, like it or not. Look at all the actors and authors that go with stage names.

Just call me Bill.