As a real estate agent, you may find the process of directing a buyer by buying a home as arduous and stressful as it is for your client. It is your client who has the ultimate authority to make or break a deal, despite all the time, effort and expertise you put into every quest.
But good agents have also trusted consultants to their customers, and it is possible to effectively close any sale and bring the customers into the home of their dreams with a few tried-and-true sales techniques. And since every buyer is special and reacts differently to particular strategies, it is prudent to include both oriented scripts and general tips when negotiating a deal with a customer.
Understand Your Client’s Requirements
In the home buying process, the basis for closing a sale starts much earlier than you would expect. You can be tempted to ask the same standard questions when a new client visits your office, enter the answers of your client into an MLS, and schedule a viewing. But those stale investigations don’t talk about what the homebuyer is looking for, which is how we end up with buyers who dislike properties that seem to check all their boxes somehow.
Rather than those tired questions such as, How many bedrooms do you need? Ask open-ended questions as part of the sell my house process that allow your client to explore how they plan to use this house. Questions such as, Why are you using your kitchen? and What’s your favourite room at the moment in your home? Encourage your client to show you what matters to their souls, and not just what matters on paper.
And when it comes to closing time, this same strategy will help you gauge what’s most important to your buyer and seller: information that you can use during the negotiations. Knowing the time frame of your buyer and seller, whether they can or would like to pay cash, home warranty specifications and physical additions required or desired for the house. Knowing the main interests and goals of each party will help you negotiate a transaction that is difficult to reject for all parties.
Never Promote Talks On A Particular Topic
Never whittle a negotiation down to a single issue, especially not when the price is the single problem. Building a win-lose dynamic between buyer and seller is the worst mistake you might make as a negotiator. This means that a winner will come out of one faction, and the other will feel as though they have lost. And the surest way to build that dynamic is to compromise down to a single question. When the question is the price, this goes double.
Instead, establish a win-win scenario in which all sides feel as if through negotiation they have achieved something. This is where the knowledge you have learned about advertise private rental and the primary objectives of the buyer and seller comes into play. Using this insight to get what both sides want, winning a “win” for both sides, and dropping a topic that was not high on the list of goals of either party.
Chances are that your customer has seen such posts and news clips about the state of the property market. It’s difficult to avoid headlines citing statistics and shouting phrases like “seller’s market” and “hottest market ever,” particularly when you’re in a home market. On these numbers and storeys, keep up to date. And there’s no harm in reminding them of the statistic or news clip when an indecisive client is dragging their feet and you realise they need a helpful drive. You have, of course, no doubt had the brief conversation with your customer about the competitive nature of the local real estate market, but there is nothing like a startling number in national headlines to give the situation authority and a bit of urgency.
There are lots of sales and closing strategies with catchy names designed to help salespeople make any sale effective, and they all have one feature in common: positivity. If you help a client weigh their choices with a pro-con list or build urgency with an assumptive close-up—”Sounds like you get what you need! Can I come over now with a deal, or would it be easier for you in the afternoon? -a good agent often stresses the positive aspects of every land.
This suggests that the pros-and-cons list should be high on the pros or include the high-hitting things on the wish list of the client. Your technique of sum-it-all-up should list all the stunning aspects of the house. And when your client is stuck on a single negative problem, it can ease their worries by spinning their viewpoint on the many positive aspects of the home and your negotiation skills. And in an emotional close, agents refer to the love of the client for their family and the pathos of the experience of homebuying to create a positive association with the house.
Great agents know that yes and no are not necessarily hard-and-fast solutions in the case of sales. And they know how to gauge where on the continuum a client is. So when your optimistic methods are met with unexpected hesitation, do not panic. Back up and evaluate the problem your client is having. Using another tactic to inch them closer to the yes. And remind them that dialogue is part of the process; you have the potential and expertise to make them happy if they’re not happy at the moment.