8 Simple Steps to Close Real Estate Deals Like a Rockstar

by | BiggerPockets.com

I think one of the biggest challenges of real estate is closing a deal. Too many agents working today have been trained only for the paperwork side of the business and not on how to actually sell successfully and professionally. At the end of the day, selling is what real estate is all about. Without this skill — and it is a skill — there’s no money to be made and no paperwork to be done, regardless of how proficient you may be!

In today’s market, traditional sales obstacles must be overcome — such as those canned, fake responses — and instead, real estate agents need to hone in on their natural instinct when it comes to making a sale. In this article, I’m imparting some tips based on years of my own experience, and hopefully you’ll learn a little something about selling real estate.

First, it doesn’t really matter if you’re selling a $10M mansion, unloading a $100k apartment, or signing a year-long rental lease on a family home. They’re all sales, and they all need careful handling. True, when comparing an actual sale and a rental agreement in terms of paperwork and legalities, the two are incredibly different, but at the end of the day, money is changing hands, and therefore it is a sale. While this article is going to be mostly focusing on selling properties, many of the points could also be applied to real estate investors and agents involved in the rental market. So let’s take a look at some of my sales tips.

Download Your FREE guide to evicting a tenant!

We hope you never have to evict a tenant, but know it’s always wise to prepare for the worst. Navigating the legal and financial considerations of an eviction can be tricky, even for the most experienced landlords. Lucky for you, the experts at BiggerPockets have put together a FREE Guide to Evicting Tenants so you can protect your property and investments.

Click Here For Your Free Tenant Eviction Guide

8 Simple Steps to Close Real Estate Deals Like A Rockstar

1. Believe in yourself.

Confidence is key. If you believe in yourself, if you believe in the deal, it will happen. And this confidence needs to be evident throughout the process, right from the first viewing until they sign on the dotted line. If you’re enthusiastic about the deal, this energy will transfer to your clients.

Sometimes this can be hard to do because the property isn’t quite to your liking or maybe your clients are, shall we say, difficult. But as long as you believe in yourself and your own ability to find, negotiate, and complete a deal that is good for everyone, you will succeed. A timid, nervous, and generally unsure real estate agent doesn’t inspire confidence from either the seller or the buyer, and they will be reluctant to do business with you. Be careful not to overstretch to cocky, but a certain air of self-assurance and positivity will work wonders for closing sales.

mentor-mistakes

2. Keep it simple.

Don’t bombard your clients with information, facts and figures, and anything else that won’t actually impact their decision-making. Treat them like you would want to be treated — in a straight-forward, direct, and personable manner. Yes, it’s important they make an informed decision, but when pitching a property and even on the first viewing, it’s more about the overall impression rather than a house’s energy efficiency or how many Australian restaurants there are within walking distance. If the clients are interested and the process moves forwards, then that is the time to give more information that could help them decide if the property is right for them. But wait until they have shown definitive interest before doing so.

Related: Real Estate Agents: Don’t Substitute Real-Life Lessons With Virtual Ones

3. Listen.

Don’t waste your time trying to sell a property your clients really aren’t interested in. And don’t keep pushing for a deal that is never going to happen. Listen carefully to what your clients want and what their conditions are, and then work as hard as possible to get exactly that. Asking questions is key too and not only will increase your knowledge of their specific search requirements but also will demonstrate you to be a conscientious, hard-working real estate agent, genuinely invested in finding a property perfect for your clients.

By delivering exactly what they asked for right from the start, you will gain their trust and respect, meaning they will be more likely to buy with you than any other agent. A positive relationship with your clients works to your advantage, both on individual and future deals, as you may well find yourself referred to their friends and family as a result. Remember: Selling isn’t telling, it’s listening.

4. Reassure.

If your clients have doubts — and they will because it’s only natural for people parting with significant sums of money to have areas of concerns — talk them through. Don’t just ignore the issues when they arise; face them head on and deal with them together. If the problem is insurmountable, move on to a different house. Don’t waste your time trying to sell a property they’re never going to buy because of an unchangeable matter such as location. Take stock, learn from it, and show them something more fitting to their brief next time. If you can work around the concern, then do.

Reassurance, encouragement, and problem-solving are all key skills when it comes to closing sales. This doesn’t mean lying, however! Being truthful in your encouragements is vital, and most real estate agents become well versed in this skill because of something called buyer’s remorse. This is when clients appear to get cold feet as the deal approaches, usually intimidated by the financial implications. It’s normal. It’s a phase. You just have to get them through it and remind them why they loved the property in the first place.

5. Work on your script.

Do not find a script online and learn it by heart! That will come across phony, staged, and untrustworthy. Scripts can be great, but they have to be uniquely yours. Yes, you can watch videos on YouTube and be impressed by some of the phrases other real estate agents have developed and their subsequent success rate, but don’t steal them verbatim. Base your sales tactic on your own personality and speak and act in the most natural way for you. Not only will this make it easier to remember what you want to say, but it will also come across as far more genuine and truthful. Also, although a script can be useful, remember each property and each client is different, and therefore some flexibility, ad libbing and creativity is always a necessary in order to close each sale. There is no such thing as a one-size-fits-all sales script.

security-deposits

6. Sweeten the deal.

Are your clients interested in the property but wavering when it comes to decision making? Find something you can throw in they simply can’t resist. You’ll probably have to work with the other real estate agent to allow this to happen, but since you both want the sale to go through, you should be able to come up with something pretty irresistible. Here, it is important to have positive relationships with other real estate agents working on your patch. Together, you need to make the deal so tempting your clients have no choice but to acquiesce and sign those papers. Put a time-limit on the offer, a tactic known in the business as a “sharp angle close.” There’s something in the human psyche that makes this method wildly successful: Add the time constraint and succeed quickly.

Related: The 3 Biggest Drawbacks of Being a Real Estate Agent in This Day and Age

7. Be yourself.

You’re a person, right? Act like one! As human beings, we want to interact with other human beings. A fake persona is not only obvious but off-putting to clients. Relax, take a deep breath, and go into each meeting and deal as you. Remember, as a real estate agent, your business relies on you establishing positive relationships with buyers, sellers, and other agents. No one wants a phony friend, so don’t be one. Trustworthiness, a straightforward attitude, and a lot of personality are all traits that make a great real estate agent.

But now it’s less about “us” and “them” when it comes to property searches. Long gone are the days when clients were naive, unassuming, and gullible. With the number of home improvement and property search shows on television these days, real estate agents are increasingly dealing with people well-versed in the property market and how it works. This is great, of course, but it also means we have to change the way we deal with them. We’re on the same level now — treat them as your equals. Yes, you’re technically a real estate agent and they’re the client, but don’t get any lofty ideas. Be yourself rather that “real estate agent,” and your personality will carry you the rest of the way.

8. Now go out and sell.

It’s not easy, of course, but with these simple pieces of advice, I hope you are going to have more success in the future when it comes to closing real estate deals. In fact, most of these points could be applied to anyone in the sales industry. The difference with property, however, is the significantly larger amounts of money involved in the deals. This is daunting for your clients (reassure them) but great for us who work on commission (but don’t get too focused on this). It’s a balance — an art, a skill, and one that you will take time to perfect. You will make mistakes, you will lose sales, but over the years and with more experience, alongside advice from experts such as myself and others who have been in the business for a long time, you will get there. You will become a real estate rockstar.

Any tips you’d add to this list?

Tell me what you believe is the most important factor to selling a home in the comments section below!

About Author

Engelo Rumora

Engelo Rumora “The Real Estate Dingo" is a successful property investor, motivational speaker and serial entrepreneur that quit school at the age of 14 and played professional soccer at 18. He is also a soon to be published author along with becoming a TV personality in his very own real estate house flipping show. To find out more go to engelorumora.com . Engelo Rumora has been involved in over 400 real estate deals and founded five businesses in Ohio. The most successful is Ohio Cashflow, a company that specializes in providing turnkey properties in several Ohio markets. The newest venture is List’n Sell Realty, a real estate brokerage based in Toledo, Ohio and soon to be known as the #1 discount broker in the country.

5 Comments

Leave A Reply

Pair a profile with your post!

Create a Free Account

Or,


Log In Here