Are you prepared for when you’re “in the crunch?”
If you deal with any kind of an opportunity with a drop dead date, you’d be wise to be very familiar with all the documents required to sign up your prospect and control the deal.
This is especially true of property in foreclosure, pending tax sales, absolute auctions and court dates.
It’s also very important to recognize the importance of being prepared for when you have a slippery or “flakey” seller who is unreliable and you may only get one chance to meet with them.
The right time to figure out which documents to use (and how to structure your deal) is long before you meet with your prospect.
Otherwise, the chances of making mistakes are much exponentially higher.
The term “fog of war” aptly describes that your best laid plans (strategy) may be totally rendered worthless if in the moment, when emotions are high and a deadline is looming. Tactically (meaning what you do after the activity has started) will have a lot to do with how well you’ve prepared and have both familiarity for the intended deal or a contingency plan (or several) for when they don’t go as planned.
At minimum, have your notes, documents and people in order.
Here’s a perfect bad example of me not following my own advice for our first Hunting Club tele-conference call.
As most of you (now) know, I’m not a tech-oriented guy. When I called the attendee line at the beginning, I made the mistake of calling the attendee line, rather than the moderator phone line. If I had prepared better, I would not have made this error.
I apologize for my moderator errors and the obvious distractions that this caused.
Obviously, I’m a deal-maker and not tech savvy. I’ll make every effort that this problem is never repeated.