The Property Unleashed Podcast

Stop Selling and Start Listening, A Deal Sourcer's Guide to Success

• Mark Fitzgerald • Episode 328

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Mark Fitzgerald shares crucial insights on how property deal sourcers can distinguish themselves in a crowded market by building investor relationships before pitching properties. The key lies in asking strategic questions about investors' preferences, making notes, and specializing in specific property strategies rather than trying to source every type of deal available.

• Stop trying to sell immediately and instead ask investors about their property criteria
• Take notes during investor conversations to demonstrate genuine interest
• Ask about property types, target areas, strategies, desired cash flow, and ROI expectations
• Specialize in property strategies you thoroughly understand rather than trying to source everything
• Build a sustainable business by becoming an expert in solving specific property investment problems
• Maintain credibility by referring investors elsewhere when deals don't match your specialty
• Focus on creating a professional service that delivers consistent value to investors

Check out the Ultimate Deal Sourcing Accelerator Training Program with a money-back guarantee to build a sustainable property sourcing business. Find the link in the comments section below.


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Speaker 1:

how to be a deal sourcer that stands out from the crowd. Hello, my name's Mark Fitzgerald. It's great to have you joining me here today. So today I just wanted to cover quickly a mistake that I see so many deal sour, potential deal sources or people that say they're deal sources making. When they're meeting investors, I get approached by a lot of people who are deal sources. It seems to be the popular thing at the moment, but they come up to me and they try and sell me deals.

Speaker 1:

Now, you could say, mark, that's what a deal source is supposed to do, and you would be correct. But there's a method and a way is supposed to do, and you would be correct. But there's a method and a way of doing it that a lot of people are missing, and I'm here to try and help you with that, to try and help you separate yourself from the crowd, so that you're not one of these people who is just going up there handing me a printed off document or something like that and saying do you want to buy this deal? No, no, no, no, no. So, first and foremost, what I want you to do is to stop trying to sell. Okay, I know that is actually counterintuitive. It is against what you're thinking about, how you need to do things, but you don't want to be selling to investors. Instead, when you meet potential investors, you want to be asking them questions, asking them questions about themselves, you know. So certain things that you want to be asking are what sort of properties are you currently investing in or are you looking to get started in? What sort of areas are you looking at investing in? What is your favorite property type? What cash flow are you looking to get from the property? What is your strategy? Is it rent to rent? Is it serviced accommodation? Is it HMOs? Is it purchase, lease options, those sorts of things? And what sort of ROI would you like to see from a deal?

Speaker 1:

Now, once they've gone through this and that is not a small conversation if you're speaking to the right people who are serious, then you can say well, what sort of budget do you have for these types of deals that you're looking for? You, in turn, my friend, want to be making notes. Now, if somebody says to you why are you making notes to everything I say? Say because I'm interested. Why? Because I find deals for investors that match their criterias, and once I find deals like that they are more likely to want to buy those deals from me. Is that something you would be interested in?

Speaker 1:

Now, if they are a proper investor who's worth their salt and also wants to get out there and actually build a property empire rather than just talk about it, they're more likely to say, well, yeah, no, that makes sense, that makes sense. So what are you telling me? And when they say something like that, you can then go into what you do and how you do it and how you can help them and how you can help them. But don't just start going up to people run during that straight away. I'm a deal sourcer. Do you want any deals?

Speaker 1:

I'm always looking at helping investors find deals, all of that sort of thing. Build up rapport with people, take a bit of time to actually listen to them and see what they want. You've got to make sure that you know what the investor is looking for, what the investor wants and how the investor wants to operate their strategy. They could be an investor that wants to be hands-on or they could be completely hands-off. Can you offer that? Are the types of deals and properties that you're looking for actually what this investor needs, or are they completely different.

Speaker 1:

I see people looking at commercial properties, properties and all of a sudden, the deal sourcer who was looking for HMO properties thinks hang on a minute, I've got an investor here, I'm going to break away from everything that I know and I'm going to start trying to find commercial properties. That's the wrong way to go about things and that is bad business. You've got to think of this as a business. What you want to do is put a service together. That service is your product. As a business operator, you have a service that is a product. Now, if you're trying to find every single different strategy, every single different type of deal on the market, your product and service will be diluted. And unless you have a team or you specialize in each and every one of these strategies, you're going to struggle, you're going to slow things down and you're actually going to end up spinning your wheels, getting yourself all dizzy and not doing a very good job for anybody.

Speaker 1:

But if you specialized in buy to lets or you specialized in buy to lets and flips, let's say, or maybe you specialize in HMOs, specialize in something yourself, a strategy that you know very, very well, because most deal sources do a deal sourcing course, but they don't understand deeply the different strategies so they never really know if the deals are really good deals. The best sources out there understand and learn all of the different property strategies, or they just learn the property strategies for the deals that they want to sell. So they know it's a good deal, they know how to secure that deal, they know how it'll cashflow, they know how to set it up. They know all these things and then they've got the confidence to be able to say to that landlord who says to them can you find me commercial properties? Unfortunately, no, we can't, but I do have a friend maybe you have Ben over there. He can find you some sort of commercial properties because that's what he specializes in. We specialize in HMOs in these areas.

Speaker 1:

If you know anybody who's interested, please pass my card to them, be more than happy to have a conversation with them. You all of a sudden then look very creditable, you look very respectable and, quite honestly, you're somebody that I would do business with. Because if your speciality, your product, your service matches the criteria that I'm looking for, I'm going to work with you. And it's as easy and as simple as that. But I see far too many people miss the whole point of this and they start running around, as I've said before, trying to find anything that they can and then just try and flog it to anybody that they can find.

Speaker 1:

If you want to build a sustainable property business that can cash flow and actually bring you in the money that you want each and every month guaranteed, so to speak because you've got so many great products, so many great leads, you've got so many great investors that you know for a fact if you find properties that match this, this and this criteria of theirs, they are more than happy to pay you handsomely for finding it for them, for setting up that deal, for doing the negotiations, for taking away the hassle. Business is very simple. It's find a problem, make or build or find a solution to that problem, and if you can package it up and you can make money out of it, why not Do a good job for everybody? And that is just what I want to say today is to really say to the deal sourcers that are out there, please stop running around spinning your wheels trying to do the same thing as everybody else. Separate yourself from the crowd. I have the Ultimate Deal Sourcing Accelerator Training Program, which is brand new and is being released. Well, probably actually when this episode goes out. So if you're interested in that, probably be a link, not a clink, in the comment section below. Check it out, check it out, check it out for yourself.

Speaker 1:

Money-back guarantee Go and have a go See what it's all about. But if you want to build something sustainable, you want to find deals, then check that out. But please stop coming up to me saying will you buy this deal? Come up to me and let's have a conversation and then maybe, who knows, I might buy some deals off you. Take care, I'll see you all soon. Bye for now.