Today’s REI Classroom Lesson

Pete Asmus explains that expectations need to be set for both parties in order for communication to work properly.

REI Classroom Summary

If either party has expectations that aren’t known to the other party, the expectations are left to interpretation. Be upfront and let your expectations be known.

Listen to this REI Classroom Lesson

Real Estate Investing Classroom Show Transcripts:

Mike: Welcome back to the REI Classroom where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Pete: Hey guys this is Pete Asmus, The TURNKEY Investor, and I’m here the host again if you can believe that of the REI Classroom. Today’s topic is all about communication with a side of reality.
Mike: This REI Classroom real estate lesson is sponsored by, FlipNerd’s private investor coaching program and your blueprint to investing success.
Pete: Why do we really talk about that? Well, because a lot of times when we’re doing real estate, when we’re doing deals, when we’re an entrepreneur, I mean really in just life in general, you have to communicate with people. You have to update people. You have to stay in contact.
A lot of times when we start dealing in projects, when we start dealing with professionals, there can be a real misunderstanding when it comes to communication. Because the reality is communication is all about expectation. If I expect you to call, if I expect you to give me this information and you don’t, well we have a problem. If you didn’t expect that you had to, see, there’s where the issue lies. You didn’t think you needed to give me an update. I thought I should get one every week. You thought once a month was fine. Now we have a big issue and it really all came down to what? Communication. If we would’ve just communicated and said. “Hey, what do you expect?”
A lot of times in the very beginning of a relationship it’s difficult to do that. How do you sit down with somebody? “Hey, I know we just met, but what do you really feel about integrity? How do you feel about communication?” It’s hard to ask those questions, but the reality is we need to.
If you want to have a positive relationship, you’ve got to know where your partner or partners, where your contacts, where your workers, where your employees, where whoever it is that you’re communicating with on a daily basis, you need to know what they expect of you and they need to know what you expect of them. Because if they don’t know what you expect of them, how in the world can they ever deliver? It’s impossible. You can’t go, “Well, I’m going to hire the right person and that right person will know exactly what I want all the time.” Give me a break. That’s not a reality.
So often we will go into a job, a project, and we will give less information than is required. We will go in there and go, “Well, I just want it to look great and if you can just do this and this,” and then you bounce out. When it’s not done exactly like you wanted it to be done, you’re confused on why that happened and how this guy could be so dumb. But the reality was you never said or specifically outlined what you wanted.
I’m going to tell you right now when it comes down to partnerships, when it comes down to contracts, when it comes down to anything, being clear is really the only way to be. Because miscommunication, the saying . . . Oh, Ivan always used to say a really good way to . . . He always worded this in a really good way which was basically to the effect that the devil is in the details, meaning that if you don’t specify all the details, well now everything’s up to interpretation.
If it just says, “This, this, this room is going to be remodeled to look great, it’ll look good,” well your good and my good could be completely different. I promise you when it comes to a contractor and you, good is going to be a completely different term. Because theirs is typically going to be your satisfactory. It’s not going to be what you think is good. Their job is to get the job done. Your job is to get the job done right.
It comes down to all about communication. Be clear, be direct, and really from the very beginning be upfront about what you expect. Because when you do that you’re going to get the better results, and you’ll get the best results possible. You’ll get success and that’s really where it’s all at.
Just like the REI Classroom which I just hosted. Can you believe it’s already over? I know. I don’t want to leave. You don’t want to leave. We want to stay together. Hey, look, there’s always ways to find me. Right down below you’re going to see my personal information that they put on there for me. Click on it. Call me. Text me. Jump on the website. Let’s hang out and go to coffee, eat dinner, I don’t know, whatever. It’ll be fun. The reality is let’s connect and let’s communicate.
Guys, thank you so much. On the next one, we’re going to be talking all about, and if you give me just a second, how to keep fuel in the fuel tank so that when the motivation runs dry you don’t overheat. Guys, thank you so much. I am Pete Asmus, The TURNKEY Investor. This is the REI Classroom. I’ll see you next time. Bye.
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