Perception: To Drive Or Not To Drive.
I got into a car accident when I was out farming areas and now I have to buy a new car. Since I'm not a full time investor, I don't have the option of have multiple cars. I've heard different things about what car to drive to a sellers house and you don't want to show up in a Benz. I also heard showing up in a Benz makes a strong statment ones perception of you goes up when you show up in the Benz.
I don't know why I keep making refernce to the Mercedes because I still can't afford one..........yet, but until then, can I still go out and buy one of those realllllly nice cars like a BMW or Lexus IS.
I only ask because I need a new car, I'm young, whatever car I buy will be paid for by my investments, so the price is not an issue, I just want to make sure I don't have a hard time with sellers because of the car I drive to their house. I know it shouldn't make a difference but I just want to make sure, or see if anyone has experienced something odd do to a car. It sounds stupid, but I'm really serious.
Hey,
There is no answer to your question and I think you already know that. You stated that one person sees a Mercedes and says "Wow, there is a successful person and they will really be able to help me". The other person sees the Mercedes and says "Wow, there is a person who has taken advantage of people to make money. I will never deal with them." You have no idea what a seller is going to think.
My advice is two fold:
1) Buy what you want and forget what people MAY think.
2) No matter what you buy, keep it in good condition (clean and shiny) and do NOT make it too flashy. Do NOT buy silly lights or wheels or lower the car or any other of that nonsense. 90% of the people will not take you seriously then.
One quick note on peoples perception:
I am a landlord and in the last ten year, WITHOUT ACCEPTION, any one who has turned up at one of my rental homes with a Mercedes or BMW, has not qualified for the house. They have crap credit. So when I see a Mercedes or BMW, I think "Wow...they have mortgaged their soul for a car".
Back in the day, anyone successfully associated with real estate drove brand new Cadillacs in quick succession. Maybe Buicks if things were a little tight.
Today, a lot of them are driving expensive Euro and Japanese cars. And they may not deal much with the public.
Keep in mind many people are still offended by foreign cars. Sometimes they fought against the countries that made them.
You're probably best off staying American (despite the foreign content in most domestic makes). Since Chrysler is foreign-owned now, that leaves you with GM and Ford.
If you want a car, you want something large and rear-wheel-drive. That shuts down GM, and gives you a choice between the Lincoln Town Car, the Mercury Marquis and the Ford Crown Vic. Two are for old people, one is for cops, take your pick.
If you want an SUV, your options are more open. Personally, I could see a professional real estate person in a Buick Rainier as a symbol of solidity and success without ostentation. But both GM and Ford have something for you in any marque you can name, in varying levels of cost and subtlety.
I think I've just seen the worst advice flacorps as ever posted.
While his suggestions MAY prove benefiical IF you are, or are planning on becoming an RE agent, they mean little to an RE investor.
As Bruce said, no one here can really answer your question well, other than the advice that Bruce has already gave, which was don't junk it up (shiny flashy mags, mirrors, lights, etc) and keep it clean (something I'm terrible at doing ). I would shy away from the more expensive cars. Besides the air of sootiness that the give off, they are usually more expensive to maintain as well.
My personal take on this "professionalism" stuff, it's crap. I drive a Dodge pickup, and never had any seller or buyer think less of me for it. Another investor in the area drives around in a beat up old mini van. Doesn't matter if he can help the seller in trouble. I've seen others driving Lexus SUVs.
Point is, drive a clean, dependable car and stop worrying about what someone may think about you driving it.
Roger
Quote
oint is, drive a clean, dependable car and stop worrying about what someone may think about you driving it.I agree with clean, I agree with dependable and I respectfully disagree about worrying about what someone may think about you.
.
If Sam Walton had been pulling into people's driveways to make deals instead of just going from Wal-Mart to Wal-Mart, that beat up old pickup truck would have been a different vehicle sending a different message (the truck definitely did send a message to Wal-Marters, and the message was "I'm one of you!"
In the case of a real estate investor, the message should be "I'm not far removed from being one of you (hence no foreign cars), but I am focused, successful, and able to carry through on any promises I make to you."
The investor driving the beater minivan may be successful ... but we have no way of knowing how many people are put off by it, or how many more deals he could make if his first impression were made in a different vehicle.
What you drive may inevitably offend someone. The goal is to make that number of people as small as possible while giving yourself the most functional and relaxing environment possible to get from place to place. You won't have that with a Viper's exhaust in your ear, nor cramped into a Geo Metro. And if you pull up in a Rolls, people will wonder how many people you crushed to get it.
I think a Buick SUV is a nice compromise, about as neutral as you can get. Perhaps an Envoy or a Trailblazer would be OK. I like the Buick.
My two cents:
People who work on houses typically drive trucks. If you show up in a truck, I've found that people view you as hardworking and easy to deal with. However if the truck is brand new without any signs of being used, that might not show the same message. I'm not saying to buy a beater but a truck that has obviously been used for work might serve well.
The good thing about a truck is that any vehicle over 6000lbs I belive can be favorably deprecated on your taxes!
I think we are all on the same page. I would not go with any BRAND new car, they attract attention.
I never let them see me comeing, so when I leave they coulden't tell you what I drove, only that I helped them.
I guess we'll just have to respectfully disagree on this, corps.
Suggesting what type of vehicle would work best for a RE investor is crazy, IMO. As long as it's clean, dependable and COMMON, it won't matter. Solve the customer's problem and as David said, no one will know or care what you drove yourself to appointment with. I seriously doubt that if you helped a seller out of a foreclosure or a buyer into a home they thought they couldn't get, you could get on the back of camel when you leave.
As far as driving american cars. That's a topic all it's on. What's American? Honda, Toyota, Madza, Nissan and even BMW are all made in America now, so does that make them American.
You'll have to forgive me. I stopped caring what people thought about me by my dress (or car) a long time ago. I found that as long as you don't dress out of the norm (punk, spiked hair, etc.), what you know is more important than how you look doing it.
Roger
Anyone read the book
"The millionnaire next door"?
This guy refused a gift of a Rolls-Royce because he knew that as the owner he couldnt go to his business and have the employees looking at him pull up in that.
It alienates people especially workers. He opted for a pick-up truck instead or some other american big vehicle.(cant remember).
In this case i think that an expensive german sedan would give the impression that you could afford more to them for their property. Correct me if im wrong.
[addsig]
Quote:You'll have to forgive me. I stopped caring what people thought about me by my dress (or car) a long time ago.A lot of people feel that they must care in order to be successful in business. They may or may not be far wrong. It depends on how much they deal with the public, and which slice of the public they deal with.
50-cent can't dress like poindexter.
The "dress-for-success" ideal accounts for all the graying execs with clip-on ponytails riding Harleys on the weekends ... it's a few hours of faux rebellion.
If we can agree that it would be worthless to arrive as a clown on a unicycle and equally bad to pull up in a chauffer-driven Maybach, Aristotelian logic inevitably leads to the thought that some way of dressing and driving and talking, etc. will be best for a given market area. Of course, that will vary.
If you ask people, nobody will give a hoot in hell how you dress or speak or what you drive. But they will inevitably perceive you in one way or another on account of those factors, and treat you accordingly.
It behooves you to know what those perceptions are, and shape your image accordingly.
For the record, my business is online and my wife's is in a shopping center. I drive a Hyundai Elantra GT, and we have only one car between the two of us right now as the gym business gets off the ground.
I don't know what I'll drive next, and she wants a Mini but probably will wind up with an Infinity FX35 if the gym keeps going the way its going. She needs to move a few mats now and then.
[ Edited by flacorps on Date 10/24/2003 ]
My two cents,
I think you reallyhave to think about what particular are you are focusing on. If you're dealing with $1,000,000 foreclosures you don't want to pull up in a beater. If you're going into bad neighborhoods for rehabs or section 8 rents then nothing to flashy so it's there when you return!
You must also think about functionality. If you're doing re-habs you'll probably need a truck or work van. If you are using your car as your office (so you have all your documents there in case you need them) you probably need a larger car or GASP one of those war fueling enviro wrecking SUV's.
Personally, I drive a Durango. It's the best vechicle I've ever had and fits right in in those bread and butter $100,000 to $150,000 neighborhoods.
By the way, I though we were takling about houses?
If you drive a decent car, dress decently, and most importantly KNOW WHAT YOU ARE TALKING ABOUT coupled with an ABILITY TO DELIVER on your talk, then people will take you serious. Driving a Benz or Beamer or whatever doesn't mean anything if you can't deliver.
I have 2 cars: a new Acura and an older Jeep. I take the Jeep whenever I'm going out to visit a prospective preforeclosure. Why? Because it easier to display emphathy for a person's plight when you aren't driving around a $40K car. I also take off my expensive watch and put on my Casio when I've visiting with these folks. After I close on the deal, I put the Rolex back on the wrist.
There are politicians who have chameleonlike abilities to be rednecky when they're in the sticks and sophisticated when they're downtown. We all know what we think of politicians. But we also know that politicians have achieved some measure of success, and it's not by showing up to a gala ball in overalls or wearing a tuxedo to the county fair.
Regardless of whether you're a real estate salesperson or an investor, you have something to sell. If you're the latter, you're selling your knowledge of the market and capacity to follow through with the deal. It's important to do whatever you can to further those impressions. If you're doing deals where you have to look at dozens just to get one to work, and you miss a deal because of something you said, wore, or drove, now you're looking at dozens times two (2x) in order to make the same profit.
One deal can pay for whatever it is you think you ought to be driving in order to do business in your area. I'm not saying you follow the example of "Tin Men". I'm saying you need to be scientific about making people want to deal with you, and that includes the intangibles as well as the rock-solid knowledge and ability to follow through.
The main thing, as was stated previously, is that the vehicle is clean and well cared for.
You probably don't want to be at either end of the extreme such as a an old Pinto or, on the other end, a Hummer. This could draw attention to what you drive. Good or bad? Who knows? But the fact that the attention is now on your car means that the attention is not on the task at hand.
I drive either my Navigator or my wifes Grand Voyager and have never had a single comment from a seller.
I drive a Ford Expedition or an older (96) Lexus Gs-300. A few times owners have said "ooh a lexus" I smiled and said it was bought at auction for a heck of a good deal, which it was.
Buy a $1000 station wagon (we did last week) and park up the street.
Fire red 2003 Ford Excursion Desil 4x4 With WE BUY HOUSES written all over......Its an eye catcher.....plus it has a Great DVD player
Quote:
On 2003-10-28 08:57, JR_FL wrote:
Fire red 2003 Ford Excursion Desil 4x4 With WE BUY HOUSES written all over......Its an eye catcher.....plus it has a Great DVD player <IMG SRC="images/forum/smilies/icon_biggrin.gif">
Times change. Around the time of my birth (1962) my grandfather was a real estate broker, and he employed my father (who also had a broker's license). GF made F get rid of a T-Bird convertible because it was too red and he thought it reflected poorly on the business!
Way, way off topic for this board, but last time I was thinking about a new car I started looking at the lease sites like****Must Reach Senior Investor status before posting URL's*** and****Must Reach Senior Investor status before posting URL's***. Never did it, but the idea of leasing a car for just a year or so was attractive.
(that was leasetrader and swapalease for my last post)
Hey how do you like your Lexus, I was thinking about the IS?
I'm also a big BMW fan and may end up with one, I don't know. I'll be sure to post what I bought....being that the insurance company will stop paying on the rental on the 1st, i need to get one soon.
nevermind, I thought it was an IS you were driving, I see that it was a GS....oh well.
But tell me, what type of cars are you savvy investors driving these days?......to the sellers door.
Hey,
I really disagree with alot of the comments that have been made in this thread; I truly believe it is irrelevant what car you drive.
BUT...
I really like cars; I consider them my one vice.
I own a BMW 740, Carrera 4, Volvo V70R and a Dodge Ram 1500.
I'm with Joel,
Pay cash for something, then you don't have a payment hanging over your head!
But, whatever you drive, stop at the signs, red lights, and keep it at the speed limit. -This message brought to you by your local police department.
flacorps.
My 99 Cadiliac Catera (New to Me) is rear wheel drive, Not too combersome or flashy, and fairly economical. (Does it qualify?)
Chrysler, Saturn, Nissan, Honda, and Toyota have manufacturing facilities here in the good ole USA, and employ relatives of the people that you feel may be offended. If they are still fighting old wars, I feel sorry for them. That's their problem, not mine.
When I'm talking to people that have junkers for sale, I drive the 92 Ford Ranger, because I want the wheels and the crappy radio to be there when I get back to my vehicle. In average neighborhoods, I'm sure either vehicle will do. I'm not sure that I'd feel comfortable driving a Yugo into an upscale neighborhood and try to convince people there that I am the answer to their prayers either.
While I can see your point about trying to relate to your target audience, the most important thing to me is to live with and act like I have integrity. If you are honest, and straight forward, it will come across to the seller, or buyer.
Be a good listener, It will help you relate to your customer, and better propose a solution that meets their needs, as well as yours.
Solving peoples problems profitably will bring you more success than what you drive. Keep it clean, and well maintained, but drive what you're comfortable in, and what you're comfortable making payments on.
Jeff[ Edited by jeff12002 on Date 10/29/2003 ]
That's it, I'm getting a motorcycle.
Thank you this thread is hilarious.
I say that because I was thinking of some millionaire investors I know that have old Toyota pickups with bashed in fenders that they do business in. I guess it depends on the neighborhood and a lot of other things. I wouldnt worry to much about it
Stop trying to lie to people, stop trying to fool people, stop trying to second guess what they will think of you. If you are a snake, you are a snake, if you are someone who is looking for a win/win deal then that is how you will come off.
Drive what you want to drive and be yourself. The fact that someone is trying to put up a smoke screen shows that they have something to hide.
Besides I don't care what you drive, within 2 minutes I'll know what you are all about. You shoes and watch will give you away to me in a instant, combined with the way you carry yourself and how much you look me in the eyes. If you are not the whole package it is going to make you stick out like a sore thumb.
Do this: rent a limo and go to 10 appointments. Then buy a $10 car and show up to 10 appointments, finally show up the 10 more appointments in a cab. You'll quickly discover that the car did nothing but get you to the appointment. Who you are got you the deal.
[addsig]
wow, this one has gotten a lot of response. I have a slightly different spin on it myself...I ride a motorcycle! It's clean, flashy, shiny chrome and all that jazz, but i picked it up used for under $5K. people think it's a Harley and I just tell them, "no, it's a Kawasaki...same thing for 1/3 the price."
Just a thought. As a real estate investor, you are a salesman. You have to sell yourself and try to get whoever you are selling comfortable with you. I drive a '96 Silverado. Not a beater but its not a sports car either. A truck is practical and you don't have to spend the price of a good rehabber on it. I would save the mercedes for the night clubs on the weekends.
Well, I figured, "If it was good enough for Dad, it was good enough for me!" . I was very proud of it once the gray primer coat was applied. I just had to make sure it didn't rain that day.
It was fairly economical -used about as much oil as gas. It made the front cover of , "Polluter's Illustrated". An 8 track was jammed tight in the tape deck, so the only tune I could play was, "La Cucaracha".
It's evident that this "deals on wheels" discussion has no answer. It depends your own tastes and preferences. In the future, be more careful when you drive so we don't have to go through this again!
It wasn't my fault, he hit me. I still don't have a car. I used the money from the settlement to catch up some back payments on a house. I'll let you know what I get, but I'm looking at an accord.
Guys!
I am afraid I will have to agree with everyone who says: “Be a GOOD person”.
I have faith. I have faith in myself as an investor and myself as someone who can help other people. If I have lost a deal (and this has happened!), I will not attribute this to the fact that I have showed up to the appointment with 2 year old Lexus ES-300 with navigation.
You know why?
Because I like the car and GPS helps me to get around in the unfamiliar areas quickly. I will blame it on my inability to understand the needs of the homeowner and my failure to find an answer to it. Besides, most of the American made SUV’s made these days closing in the price range of $25,000 to $40,000 anyway and have significantly les miles per gallon then you might need to scout the neighborhood, .
Drive what you must, but don’t forget to help others when making profit.
This is just my humble opinion.
Dmitry.
Dont ride a motorcycle your mother will worry hehehe
Skateboards and those Skectcher roller skate shoes from now on. Those things look great, walking on min, skating the next.
C'mon Derrick you know you want the Infiniti G35 coupe. Those things are nice.
Or prolly the accord coupe would do. And with the 240 hp v-6 you could get to those last minute apointments in no time.
When we say "Fast" cash for Houses...
We mean it!!
It doesn't matter what type of car you drive or if you take the bus, what matters is what you are offering and what they will take in return...if the deal makes sense to both parties then the deal will get done, I've never heard of someone liking a deal and then change their mind because they didn't like the car someone was driving.
Quote:I've never heard of someone liking a deal and then change their mind because they didn't like the car someone was driving.
No, the question is whether they actually listen to you when you talk to them. If you make the wrong first impression, you may not reach that point.
With all do respect Flacorps,
First impression is NOT made ONLY by the car you drive. Human factor is the key. If you failed to connect with your client, - you just simply failed!
I have been a consultant for more then 14 years. I have done hundreds of interviews and presentations to my clients. I speak from my personal experience.
Cheers,
Dmitry.
[ Edited by Dmitry on Date 11/14/2003 ]
Quote:First impression is NOT made ONLY by the car you drive. Human factor is the key. If you failed to connect with your client, - you just simply failed!Good point. I didn't mean to make it seem like that was the only potential deal-killer in presenting a first impression. And you never know what's going to strike somebody wrong. Even if you eliminate everything about your speech, clothing and auto you think might offend, the person you walk up to might be turned off because they think you're being intentionally bland ... or they simply may not find any points of commonality (or even contrast) with them ... because you hid them all.
I'm a Fla. Gator (more or less), and if someone comes up with a Seminoles shirt on, I might say something humorous about it ... sure it's the state rivalry, but at least it's an icebreaker.
I drive a paid for Mercury Cougar and a Jaguar XJ and yes, they are both presentation tools BUT not that important in the deal-making process.
C-
Alright folks, the horse is officially dead on this one. I think we've beat that bad boy to death a couple of times now.
What have we learned:
If you see me walking, offer me a ride.
If you see me about to hop on the bus, offer me a ride.
If you see me coming down the street in ANY car.....MOVE, ______get out the way, get out the way _______ get out the way.
Make sure the car is clean.
Oh...and wear good shoes and a fairly priced watch.
Be nice, help the sellers, and brush your teeth every morning.
Alrighty....enough said for this one.
JOEL!!!!!, you need a feature that allows you to turn off the "notify me when someone replies to my post because my inbox is getting flooded button"[ Edited by nebulousd on Date 11/14/2003 ]