Closing deals 2Imagine being able to close more prospects while talking to fewer people. The more people you speak with, the better your chances of closing a deal are. However, knowing the subtle tricks that master closers use can improve your closing ratio exponentially.

In this blog, we continue the conversation on closing the deal. Here are three additional tips you can start implementing today:

  1. Create a sense of urgency. Urgency incentivizes people to commit to making decisions. However, in the current market, you don’t have to invent or exaggerate the urgency. Know your facts regarding market conditions as you articulate why this is the time to get off that proverbial fence. Know your numbers – they don’t lie. If the prospect knows what’s at stake, they will be more likely to move forward. 
  1. Know their objections and how to overcome them. We call them “common” objections for a reason. They are mostly the same ones. Know the excuses your buyers/sellers are likely to give when it comes to pulling the trigger. Address the common objections during your initial presentations and/or correspondence. This will make them feel comfortable before they even have the chance to raise an objection. It’s important to know your scripts. 
  1. Familiarize yourself with your competition. Your top competition may not be who you think they are. The most significant threat to today’s agent includes companies such as Opendoor, OfferPad, the Zestimate, etc. Understand in detail how they work and be able to explain them away to your clients. In addition, know who the top dog in your area is. Know why they are dominating and what they are offering. Research, research and research. This will help you compete with them. 

Becoming great at sales is not something that happens by accident. As an agent who sells homes, you should commit to learning everything you can about sales techniques. Go to Closing the Deal, Part 1, to read my first three tips.

For more great tips to enhancing your real estate business, order my new book, 21 Habits of the Highly Successful Real Estate Entrepreneur.

 

By Mike Weinstein, MBA