The Keystone of Real Estate Investment Success
By Richard Dolan
Impeccable is defined in the Oxford dictionary within the realm of behavior, performance, or appearance - “in accordance with the highest standards of propriety; faultless.”
Being an impeccable real estate investor is not about being perfect. It’s about developing and designing your real estate pursuits within a context for excellence. Excellence is a function of consistency in spite of circumstances.
Excellence is a commitment to maintaining the highest caliber of being, the strictest discipline to high performance, and a focus on never-ending improvement. Excellence becomes a measuring stick against which our very nature is measured. To be impeccable means that our conduct, our performance, our thoughts, our environment, and the final product that we deliver to the world has passed a rigorous battery of examinations.
The constant standard that we hold ourselves to is this: Could I improve? Have I spent myself wholly in the worthy pursuit of my ideals? Can I honestly say that I have given my all to this endeavor, or deep down do I know that I held back? Was I truly committed to winning with integrity?
It’s not about being right or having achieved the pinnacle of human existence. It is possible not to have areas of your life that are not impeccable. However, pursue with purpose. What this means is to examine where your commitment is. You could have a relationship that is not working as well as you would like it to, but be in full communication with your partner around that idea. If your commitment is to making it work, then your energy and focus is in achieving an “impeccable relationship.” Perfect is never achieved. It’s strived for, always remaining out of reach, so that you are forever reaching.
Here are the 5 areas in which you can endeavor to be impeccable, and how you can manifest this value in your real estate investor life:
1. Use impeccable language. Your words are a clear advertisement of your thinking. Callous, hurtful or venomous words are the canary in the coal mine for everyone who crosses your path; people can see pretty quickly that your spirit is an angry or negative one and will want to avoid you.
2. At every opportunity, uplift people. Compliment people. Point out what they did right. Point out what you like best about them. It is good mental discipline to look for the good in all things and all people, and articulating it out loud forces you to follow through with the discipline. People hear enough negative in their lives that you can be a beacon of positivity in their world. Uplift people and you will be more attractive to them.
3. Enjoy the inner peace of an impeccable mind and spirit. Keeping a clear conscience is an enormously rewarding experience. It is so freeing to follow your inner voice and do what you know is the right thing to do.
When you violate your word, you have to worry about that person getting back at you. When you lie, you have to worry about remembering the details of your story. When you break your own values, you have to worry about being found out. When you break the law, you have to worry about jail time.
But when you honor your word, you have the peace of knowing that you are building trust. When you are honest, you have the priceless value of integrity as your greatest asset. When you honor your values, you are living in a congruent way and all the pieces of your life fit together perfectly. And when you honor the law, you know that the law can be your ardent defender against injustice.
Have an impeccable record. Life accumulates. The small actions we take and words that we speak create reactions and results, epic in size or seemingly insignificant. But each action, positive or negative, is like a deposit or withdrawal from a bank account of good will and public image. Controversies abound of politicians and public servants who grow a false sense of omnipotence, believing they are above the rules. They feel all-powerful and believe they can cheat on their taxes, their constituents or their spouse.
In the realm of creating money, invariably we are offering to make someone’s life better in exchange for their money. Finding and selling real estate. Investing in real estate opportunities. Attracting lenders, investors or tenants. In all real estate business dealings we are forming a relationship, albeit sometimes only momentary and transactional. But if we swindle our clients, if we double-cross those partners, two things will happen. First, those people will never trust us again, and so we will never do business with them again. Second, they will tell everyone in sight, and we’ll have lost that potential business as well.
When people trust you, when they trust that you will do the right thing, they are more apt to trust their hard-earned cash in your hands. When the word on the street is that you are out to con the next sucker, people will treat you like a leper. Be impeccable in your dealings with people and your public record will read like advertising copy to attract a wave of enthusiastic investors and partners.
4. Maintain an impeccable environment. First impressions are formed in an instant. The way you dress is your statement to the world about your view of yourself. It is an unfortunate reality that many people make an impression based solely on how a person looks, but it is pragmatic to recognize this reality and conduct ourselves accordingly. How do you see yourself, and how best can you convey that image to the world in an instant? Do you see yourself as capable, proactive, organized, successful, and meticulous, with an attention to detail? If so, let the world know.
When clients visit your office, or friends and family visit your home, what sort of environment are they walking into? Just as your clothes are a way of showing the world who you are being in an instant, your physical environment has the same effect. Whether it is your house, desk or car, are you an orderly and tidy person? Do all things have their place? Are you disciplined and meticulous? Since business is a team sport and you need to attract people to work with and people to sell to, is your environment pleasant and welcoming to your partners and clients?
If you want to make a leap forward in personal accountability, resolve that you will hold yourself to the highest standards of cleanliness, tidiness and organization, and watch as these qualities manifest themselves in your business dealings. Notice that when you are excellent in this area, you have a sense of control and power over your life. A small personal victory in this area is a powerful asset on your path to success.
5. Take care of the small details. Take inventory of all the financial gaps, incomplete business and dealings that you must take care of. Take action.
Close the gaps and bring your records up to date. Organizational skills are fundamental in wealth creation. If you are giving financial advice, your own books need to be in order. If you have received mail, it must be opened and correspondence must be replied to. If a voicemail is left, you must return the call. If a client has asked a question, you must get back to them with a prompt and accurate answer. If a meeting is set, you must be on time, prepared and focused. If a vendor has submitted an invoice, you must pay them in a timely manner. If today is payday, you must make payroll for your staff even if it means forgoing your salary and getting a bank loan. When you submit a report, it must be double-checked for spelling and grammatical errors. Dot your i’s and cross your t’s. Your numbers must all be triple-checked for accuracy. Every piece of work that you complete must bear your signature of excellence. Don’t do things “well enough”; do them impeccably.
Richard Dolan is President of the Real Estate Investment Network Ltd., and also a successful entrepreneur and author.
Richard’s clientele includes the 2012 and 2013 NBA World Champions, the Miami Heat; the world’s largest bank, HSBC; National Bank of Canada; Royal Bank of Canada; Sotheby’s International Realty Canada; and the world’s fastest and most exclusive super-car manufacturer, Pagani Automobili, to name a few.
Richard has authored twelve publications including Life Rich™, Realtor®, Life Rich Real Estate™ and Buying U.S. Real Estate™. Richard is also a dynamic, inspiring speaker who has shared the stage with luminaries such as Richard Branson, Barbara Walters, Bill Clinton, George W. Bush, Oprah Winfrey, and Tony Robbins.