Have you ever wondered why some realtors fail to close a deal after spending quality time trying to convince a lead? It can be very disappointing, right?
You could have an effective sales process and you might even have the right words to convince a lead to buy a property. However, most realtors do not know exactly where the deal stands and this affects the sales process. They do not know exactly when to put a stop to the deal and say ‘It is time to pay for this property’, so they end up losing the deal.
Do not be frustrated, there is GOOD NEWS! There are realtors who have been through this and were successful eventually because they learned the right techniques for closing a deal. In this article, you will learn these same techniques and become a pro.
1. Last-Minute Closing
It often happens that all the aspects of our sales process have been well sorted out professionally only for the client to lose interest at the last minute. You have done so much work to come this far and the client is actually satisfied with the listing appointment. However, most clients will still try to negotiate for a slight reduction in price at the last minute. This moment is the exact moment a smart realtor should never miss as it is a perfect time to close the deal perfectly.
How do you do this?
It is simple. Simply just agree to the price reduction and immediately ask them if they are willing to sign the deal today or right now. You can also push further by offering to prepare all the necessary documents right away before the seller changes his or her mind. This way, your client will rightly feel you have his or her interest in mind and he or she will likely agree to bring the deal to a close as soon as possible.
This works like magic and I am certain you will be grateful you tried it. The reason it works is also clear. Your client is already in love with your services and he or she is only looking for last-minute benefits. Most realtors will say no or delay their response until everything becomes cold again. You have not given your client any excuse and they will most likely have no choice but to say yes to your request!
2. The Yes or Yes Closing Technique
Only smart realtors know this secret I am about to tell you in this article. We all know that everyone likes to feel in control of the situation they are in. The same goes for clients. The moment a client feels that he or she is no longer in control of a situation, they lose interest in the transaction. Your sole duty is to make your client feel at ease and you have to be smart about it.
There are several roads to a destination as there are several ways to acquire a top-notch property. Give your client multiple options that lead to a result. No one likes one option as it makes it seem as if they have no choice. Clearly tell them the pros of choosing a particular property over another and the cons of every option in the list. However, you must try to make sure that the cons do not significantly outweigh the pros.
I am not saying you should be dishonest. We have emphasized honesty on this channel many times as it is the topmost quality of a smart realtor. If you discover that the cons of a property are greater than the pros, that property is not for the client and you should not include it in the options.
So, it is settled. Let your clients choose from an array of options and feel in charge of the transaction!
3. The Act Fast Closing Technique
This is probably the most popular technique on our list. This method works by creating a sense of urgency. You want the client to know how important it is for him to close the deal now. It works mostly for sellers but can also work for buyers.
How do you go about it?
The first thing is to do an intensive study of the property and note all the reasons why it is the right moment to sell this property now or buy the property now! There are high chances that you will find some reasons. Tell your client all these reasons you have noted and professionally advise him or her that it is the perfect time to sell or purchase this property at the perfect price.
This technique is a blockbuster! It works best when one party is ready to sign the deal but the other is reluctant. If your reasons are genuine, the reluctant one will most likely have no choice but to succumb to the deal.
4. Taking A Walk Closing Technique
This is another technique that works best for sellers. It is a technique that makes your client feel that you understand their property well and he or she becomes confident that he will get his property sold at the best price possible. Take a walk with your client around the property and inside the property. He knows his property but you are the professional realtor. You see what your client doesn’t see and you know the most valuable parts of the property.
As you take the walk with your clients, highlight the valuable aspects of the property and why you think people might be interested in it. You can say something like ‘this bedroom is small but it is well suited to be a mini-library for those who would like to have privacy while reading’. Your client sees this as a weakness in the property but you have made him realize it might be a strength after all. How else do you gain someone’s trust so easily?!
This technique works because the client becomes confident that his or her property is in the hands of a hardworking expert and he or she becomes easily committed to the process of selling. He or she will sign the deal in no time and you both win.
5. Clearing Your Doubts Closing Technique
Some clients might seem very confusing to realtors. You have done everything you can to convince him or her to sell the property but you are not certain if your client is convinced yet. This technique works best if the client hesitates even when the other party is ready. Don’t be frustrated. Just an inquiry will solve it all!
Be specific in the questions you ask your client. Ask your client if he or she has an issue with his or her current property and why he or she thinks a new property will be better than the current property. This way, you will know if your client is convinced to sell the property or not.
If you feel there is a valid reason to sell the property, assure your client that you are about to sell it for him or her at the best possible price and you are ready to find them their dream property.
6. Make Me Special Closing Technique
This is not a common technique used by realtors but it might just be the magic you have been looking for. It is important to make your client feel that you have his or her interest at heart from the beginning of any transaction. It is understandable that we might be sometimes overwhelmed by our desire to make money that we forget to do this.
Organize a special meeting with your client and give him or her all the information you can. Summarize all the details of the transaction so far and highlight how you think the property will satisfy his or her desires and boost his or her status. You can even offer bonuses as most clients also like to get the most out of a transaction.
Yes! You heard it right! Sometimes all these techniques discussed today might not work out. Do not be disturbed. It is just the perfect time to relax. Sleep it off and give the client ample time to make his or her decisions. Some clients might just be afraid to sign the deal while others are just unsure. Give them time to ease the pressure and that might just be the key that will open the lock!
Now you can be confident of closing sales just at the perfect time with one of these techniques discussed. The techniques can also be combined to achieve perfection.
I became a realtor when I was 25, Right now I’m a digital marketing expert helping realtors, brokers and real estate agents generate more leads online.