MASTERING THE CLOSE: ACTIONABLE STRATEGIES FOR CLOSING MORE DEALS!

When you first got your real estate license, it is likely that you heard the phrase "always be closing” at least a few dozen times. These three words are drilled into you to build your mindset around the end goal of closing a transaction. But closing deals isn't just about strolling through transactions. It's about understanding your client's needs, navigating their objections, guiding them to a decision that meets their goals, and ultimately, building a relationship with them.

No doubt your well-intentioned mentors and colleagues told you to “always be closing” with the intention of motivating you to get your first deal. However, we all know that you can’t just think your way into a successfully closed transaction. While the sentiment is there, this phrase doesn’t teach you how to always be closing. In today’s article, I will share 8 ways you can take action to build your business on successful relationships that will lead to successful closings!

1. Build Genuine Relationships: In your business, relationships are paramount. The life of your business will depend on the strength of the relationships you build with prospects, clients, affiliates, and partners. Before you can get to the closing phase, you MUST invest time and effort in understanding your clients’ needs, wants, goals, obstacles, and concerns. Ask questions, get to know them, find out how you can best serve them. When you build a strong connection with your clients in the beginning of your interaction, you create a solid foundation for a successful closing and ongoing business relationship.
2. Present Solutions, Not Properties: Once you get to know your clients and what they need and want, you can get to work creating a solution for them. You will likely start by consulting your MLS to search for available homes that fit their needs. When you meet with your client to discuss potential homes, be sure to emphasize the ways in which each home may or may not fully meet their needs. Is it in the right location? Does it have the perfect kitchen they've been dreaming of? Does it have those his and her closets they’ve always wanted? Frame your conversation around how the property could be the solution to their specific requirements. As part of your solution process, it is also important to bring their lender into the conversation. When deciding on a home, reviewing finance options is of equal importance. Remember that you, your clients, and their lender are a team. You will succeed together only if all parties are included, involved, and informed.
3. Be an Informative Resource: Buyers often hesitate when they lack information. Be ready to provide insights about the market, neighborhood, potential growth, comparable properties, and the property's potential for appreciation. You will likely need to be prepared to offer this information rather than wait for them to ask for it. New buyers especially don’t know what they don’t know. And they won’t know what to ask you since they have never bought a home before. As a professional, you should know what they need to know and be prepared to tell them. The more informed a buyer feels, the more comfortable they will be in moving forward. 
4. Anticipate and Address Objections: Objections are not rejections; they are opportunities to provide more information and clarity. Again, you are the professional. Your clients are trusting you to guide them, educate them, and inform them. With all the misinformation that is available via mainstream and social media, it can be overwhelming for your clients to try to sort it all out. Listen carefully to their concerns and address them honestly. Once you have gained some experience, you will be able to anticipate potential challenges and can be prepared for them. Keep a range of counter-responses ready for common objections like price, condition of the property, or financing options.
5. Negotiation Skills: Negotiation is an art. Mastering it can lead to more successful closings. When you represent a home buyer or seller, it is your fiduciary duty to negotiate in their best interest. While it can take time to develop the skills you need to become an expert negotiator, there are a few things you can do while learning to help you negotiate like a pro: keep the conversation focused on interests rather than positions, benefits over features, goals over fears, and always aim for a win-win solution.
6. Creating a Sense of Urgency: Urgency is the name of the sales game. Especially in today’s market. It is not uncommon for a home to be listed, only to have multiple over-asking price offers within the first 24 hours. If your client is interested in a home but not fully committed, creating a sense of urgency can nudge them towards a decision. Point out that they could get stuck in a multiple offer situation if they don’t act quickly, or maybe the seller is offering an incentive or concession for offers made within a certain period. Helping your clients to understand the urgency needed in these situations can help you seal the deal.
7. Forward Visioning: Using forward visioning, you treat the deal as closed and move on to the next steps. Start discussing move-in/move-out dates, cosmetic changes they have mentioned, or how great it will be to move on to a new home in a new city. Then you gauge your client’s response. If they get excited and can visualize themselves in their new home, making it their own, you have a higher chance of completing your transaction. If they object or are still on the fence, it gives you another opportunity to address any remaining concerns.
8. Ask for the Sale: Finally, don't forget the direct approach. Sometimes the best approach is the simplest one! Once you've addressed your client's needs and concerns, don't hesitate to ask for the sale directly. You can phrase it as a natural next step, such as, "Are you ready to make this your new home?" This is a sure way to get your clients excited and get them closer to committing to the next step of writing an offer!

Closing real estate transactions involves a mix of understanding, empathy, negotiation, relationship building, and strategic communication. With these 8 tips in hand, you are well-prepared to guide your clients to the finish line of their successful transaction! 

Remember, every interaction with a client is an opportunity to learn and improve your connection, conversion, and closing techniques. Stay focused, learn from your experiences, seek out advice from coaches (like me!) and mentors, and you too can always be closing!

To learn more and book a free 20-minute call, connect with me HERE!

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