I named my company “Integrity Home Buyers” because the word Integrity has meaning for me. It is the way I run my business and my life. The people around me know this. When I decided to take my business to the next level, I was in a situation where people didn't know me. My challenge with “Credibility Building” was to convey my philosophy to those people. What I was asking those people to do was give me large sums of money and trust me to do what I said I would.
My credibility building strategy consisted of using these tools:
a.) Newspaper article
b.) Credibility kit
c.) Better Business Bureau
Let's look at each of these in more detail.
About a year ago the Springfield Sun interviewed me. They did a long article with lots of great information about what my company has done and it also had some information about our lender program. Recently the reporter came back and did an article focusing on the lender program. Talk about credibility! The whole city saw the article. That is powerful!
At my lender luncheons I always made sure my prospective lenders had a copy of the first article. Now I am adding the second article to my packets as well.
To grow your business, you want your name out there. You want the prospective lender to say, “Hey, I've heard of you.” or ” I've seen the t-shirts on the Little League team you sponsored “or” you're the ‘I Buy Houses' guy. That familiarity makes an impact. And, this recognition conveys credibility.
My Credibility Kit is a 30 page, spiral bound book. It has a nice cover with colored pictures of over a dozen houses that I have bought and rehabbed. Right from the start before they even open the book they see the before-and-after pictures that show I have a seasoned real estate business. This is evidence of my work that they can go drive by.
Inside the book they see an introduction that tells them about me, the company philosophy, pages of testimonials, certificates from training I have completed and special reports.
They see page after page of information that sends the strong message that I know my business.
Better Business Bureau
Since this is a serious, responsible business, I joined the Better Business Bureau. I am authorized to use their logo on my material, which further conveys my credibility.
People frequently check with the BBB before making a major decision. To be a member of the BBB you have to agree to “follow the highest principles of business ethics and voluntary self-regulation” and “have a proven record of marketplace honesty and integrity.”
When finding private lenders I believe one of the main keys to success is to build credibility.