For Lawrie Moore, sustainable success in property is an elite team sport, where investors should be supported by a network of trustworthy professionals.
Lawrie is a respected and trusted Senior Broker partner from KnowHow Property.
The award-winning investor joined Bushy Martin on Property Hub’s Get Invested podcast to talk about why trust is critical when building relationships in property investing, and how to build the ultimate team of property professionals.
Invest in accountability and honesty
For Bushy and Lawrie, qualities to look out for in a trustworthy professional are confidence, personal accountability, honesty and reliability.
“For me, it’s a quiet sense of humble confidence that the other person has, and then the feeling that they are genuine in what they say and do, and they say it how it is, not what I or others want to hear. It’s about reliability and responsibility, about someone consistently doing what they say they’re going to do, and taking personal accountability for what they’re doing without any excuses,” Bushy said.
“It’s about being open and vulnerable and admitting mistakes because we all make them and none of us are perfect. But also demonstrating what we’re going to do to make up for any mistakes without pointing the finger at others or blaming circumstances and situations. And trust is also about being upfront and having the thought conviction to stick to your guns, even if this means disagreeing with you. Because humble honestly and living your truth is actually the cornerstone of trust.”
Lawrie added: “It’s about being open and honest and following up and doing the things that I would expect if it was me talking to someone. If someone says to me, ‘look, I’ll get back to you tomorrow’, I really expect they’re going to get back to me tomorrow, right? So, I always have that in my mind, because you can’t have that level of trust in you otherwise. There are a lot of brokers in the industry that don’t necessarily operate that way. They work for themselves, mostly. But I try to look beyond that transaction and really look at what’s possible over the course of a lifetime of working with the client”.
Invest in shared values
Finding professionals who resonate with your values will help instil greater trust.
“Are you on the same page in relation to your core beliefs, outlooks, attitudes and approaches? Because in the long term, this fundamental moment is actually going to make or break the success of a relationship or situation. It’s about finding your trust tribe and saying no to those that don’t feel right, regardless of how good they might say they are, or they might be, so that you can actually say yes to those that really matter and really care. Because we’re all different,” Bushy said.
Invest in a team, not an individual
Lawrie recommended to build a team of specialised professionals who will work cohesively to ensure you succeed, as opposed to just one person.
“I think the one man band in mortgage broking is not almost extinct, but they’re becoming less relevant. It’s becoming increasingly difficult to pull the levers of success in mortgage broking on your own. Now you’ve got to be good at marketing, at branding, at social media, technology, loan structuring, administration. So you can’t do it all yourself,” he said.
“So in a smaller, closely knit team like ours, where everybody has similar outlook, and you’re not just in it for yourselves, we run to succeed. So it’s about having the right people in the right parts of the process to manage all of that.
“As early as you can, get the right advice. I probably would’ve done better if I engaged the right people and the right experts. And that’s exactly what we’re here for, to help people not make the same mistakes we’ve made in the past.”
Listen to the full interview here.
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