Now that you’ve secured first-time buyer clients, your final step is to lead them to success at the closing table. Remember, your business will thrive if you maintain lasting relationships with your clients. The happier your clients are at closing, the more referrals you’ll get from them. So you’ve got to nail the negotiation process.
Here are 10 tips to help you become a killer closer and grow your business.
1. Understand basic psychology.
To be a great real estate agent, you need to understand how people think. Having a basic understanding of psychology can help you read your buyer clients and understand and address their concerns.
That said, you don’t need to be a Ph.D. in psychology to know how to speak to buyers. Learn to empathize with the emotions that come with buying a new home. Doing so will help you build a relationship with your clients beyond the basic agent-buyer transaction.
2. Push the closing.
When buyers are close to pulling the trigger but too focused on seeking concession after concession, it’s your job to lead them to the finish line..`
Here’s an example. Your buyers want the seller to refinish the floors of the home they want to buy. Ask your buyers, “If I can get the seller to agree to this, will you buy the house?” Asking this question puts noncommittal buyers on the spot and forces them to make a decision.
Always remember that you are your buyer’s biggest advocate, but it’s also your job to help them realize no home, even their dream home, will be 100% perfect when they buy it. Help them see that they can put their own personal touches and make any minor changes once they move in.
3. Assume the close will happen.
Known as an assumptive close, this closing technique assumes that the buyer will buy the home. It’s all about the way you word things. Say something like, “I’ll draw up the papers tomorrow,” or another statement that makes it sound as if the decision is done.
A finicky buyer may just need your confidence to commit.
Timing is everything with this technique. When you think your buyers are ready to commit but are stuck on minor details, don’t let them stall. Instead, move forward like they’ve already made the decision to buy.
4. Have confidence.
In the real estate industry, a little confidence goes a long way. Approach every interaction with an air of confidence. If you doubt yourself or your buyer’s decisions, you could put the deal in jeopardy.
One great way to keep your confidence up is to use positive affirmations. When you’re out and about, keep a list of positive affirmations on hand. If you doubt your abilities, read them to yourself.
5. Brush up on your negotiating skills.
The art of negotiating doesn’t come naturally. It takes practice and a willingness to learn. But once you’ve mastered negotiating skills, closing deals can become much easier. You can take an online course or read a book on the subject.
There are a variety of techniques that can teach you how to handle any negotiations you might find yourself in. With these skills, you can become your buyers’ biggest advocate.
6. Understand the needs of everyone involved.
Buying a home is a two-way street, and in the end, everyone wants to be happy. Understanding the needs of everyone involved allows you to effectively advocate for any needs or wants your buyer may have, while still appealing to the seller and his or her agent.
When you know what everyone wants, you won’t waste time trying to negotiate something that’s a deal-breaker for either your buyer or the seller.
7. Ask for objections.
If a buyer is hesitant to buy, you can ask her to voice her objections. By giving her a chance to explain her qualms about buying a particular home, you give yourself a chance to address those objections.
If she has no objections, you can push through with the sale. To use this technique, all you need to do is ask, “Is there any reason you don’t want to purchase the home?”
8. Get creative.
There is no one way to close a deal. And sometimes, you need to think outside the box. When you’re trying to close a deal, be willing to try something new, if you think the buyer might respond positively.
9. Don’t always think the price is the issue.
Assuming the price is the only thing holding a buyer back can be a big mistake. Even when buyers say they are hesitant to buy because a home is too expensive, other issues might also be at play. Great closers do whatever they can to find the real problem and address it.
10. Prevent closing day issues.
There are a few common issues that arise on closing day. By preventing those issues, you can make sure your sales go through smoothly and in a timely manner.
You can start by double and triple checking all of your paperwork before you meet your buyers for signing. Make sure you aren’t missing any papers and that they’re all error-free.
It’s also critical to make sure your buyers are financially prepared to close. They need to know exactly how much they’ll be paying and whose name to put on the checks.
Remind your buyers that checks can be immediately cashed, so all of their finances should be ready to go. Finally, you should make sure the house they’ve chosen is move-in ready before they close. You don’t want any last-minute repairs to put off the move-in date.
Ensure Your Listing Presentation Seals the Deal
As a MyBooks member, you have access to winning listing presentations and many more helpful resources to make sure you walk away from your pre-listing appointments as a signed buyer’s agent.
Your membership gives you a terrific opportunity to tap into many years of hard work spent refining effective marketing tactics in real estate. That experience is represented in the many resources we’ve developed. There are numerous how-to’s, training guides, articles, forms, scripts, and more, all at your fingertips.
The most important thing to remember when you use the books is that they work differently for every agent, in every market. You just have to find a strategy or strategies that work for you.
Check out our blog for numerous member testimonials that can give you some insights into the most effective techniques.
And if you have yet to take advantage of this incredible opportunity, learn more about our program here.