When should I close?

If you show a real estate buyer homes should you close at each home or wait until the end? What would you say?


P.S. I know people in my office can answer my questions but I'd like to get feedback from as many people as possible. -realtor

If I were in real estate, I would begin closing as soon as possible. If I could give the clients a ride to the home, I would. It also gives you chance to build rapport. Also allows you to choose the route you take to get there - no surprises - take the scenic route or take the direct route depending on if travel time to/from work is an important factor. On the way over I would build the client's expectations of the home (if it's nice) and assure them it fits their needs from the info they gave me. Make sure to relate each home to what they said they wanted. If you can't find the perfect home, tell your clients that. Either they will determine what is most important to them and pick one or try a different realtor.

Close at each home, but don't hard close on a home you think they might not like. Don't work harder than you have to. No sense showing 6 homes if they really wanted to purchase the 1st.

Don't be too nice - too nice realtors freak me out! -EXP Creative

I'm not sure of what you mean by "closing" but when you show someone a house you need to be soliciting feedback. Here are a few examples:

• When you get out of the car say, "Before we go into the home what do you think of the area?" If they say, "We're scared for our lives", then get back in the car and move on.
  
  
• Within the first few minutes, whenever it's appropriate, ask, "So what do you think so far?"
  
  
• When you're leaving the home after completing a full showing ask, "Is this the one or do we need to continue?"

These are some pretty basic examples but I hope you see the pattern; solicit feedback throughout the process. -Agent Smith

You guys are awesome. Thank you for the advice and pointers. I'm soaking it all up. :sm -realtor

[quote=realtor]If you show a real estate buyer homes should you close at each home or wait until the end? What would you say? [quote]

The first close should be on the buyers broker agreement in your office. Once the agreement is signed close on every detail and demographic of the type of home they want to buy and the price they can and are willing to pay.

Next, get them approved for a mortgage and committed to an appropriate down payment.

Then, review the MLS listings with the prospects before you take them out to see the homes. Once you're at each house, follow Agent Smith's plan, and then only close on the home they really want to buy. -JacquesWerth

I only have time for one message but I'll come back tonight. It's going to be a long day.

Yesterday I was given a lead and when I called him back I did ask about financing and coming into the office to meet but he said he just wanted to see the home he had called about and that he would be in that area again and wanted to meet at the home.

What do you do when that happens? -realtor

Do the same things at a coffee shop near the home or in your car. -JacquesWerth

Ugh! I hated those calls and we got plenty of 'em. It's like they thought we had people just sitting in their cars waiting for the phone to ring so they could rush out and open the door. Then when you got there they go, "Oh, I this is way too small." Like they couldn't tell that from the outside. :cr

I don't go out cold like that anymore. I just tell 'em, "Listen this is how I do business...". It's harsh but it works. -Thomas

The "concept" is not "harsh" at all. Now your "delivery" is a different matter all together. ;wi -SalesGuy

I wished I had any sort of sales experience when it comes to real estate, but I don't. In web sales I close when there is nothing left to say, it's normally the point when, if you wait another second, the potential clients will start asking unnecessary questions. It's then and there that you need to appear confident and close the deal. Timing is everything. I've lost clients that I already had because of needless hesitation. Tell them as much as they need to know in order to make them feel comfortable enough to give you there business. -MikeDammann

Mike, that explains when you close, but Realtor's original question was "What Do You Say?"

I'm always curious to hear the close when it is inferred as being something separate from the overall process itself. So--when you "close", what DO you say to close the "deal"? -Gary Boye

"so let's get started" or "Let's do it" with a big smile :) -MikeDammann

I think those are as good as any, Mike. Seems like if you've done the other stuff right, which I suspect you have, the close takes care of itself with just a gentle push. -Gary Boye

True. I don't think my lines are great. I think it's a combo of everything leading up to that one point. There is always bodylanguage, tone of voice and other factors playing a role in making the potential buyer comfortable with and confident in you as well. :) -MikeDammann

I would not wait until the end to ask the buyer if she wants to purchase one of the houses. Personally, I would ask after each and every house. If she says "yes" then you have a deal if she says "no" then you can "fresh" feedback at the very least.

Nothing fancy really maybe something like, "Jane, do you want to purchase this house?" If she says "no" ask her why. Even if she says "yes" I would ask her why. That should help to solidify her decision in her own mind. -Jolly Roger

I used to run Merrill Lynch Relocation Management's Homefinding Division and Trained for Merril Lynch Realty. I taught Realtors a simple six-step selling process where closing took care of itself. Most often the customer will ask, "what do I have to do to tie down this property. The process is available in a self-directed learning format on my website. -Virden J. Thornton

Where on your website could I find this? -AZBroker

http://www.thesellingedge.com/manual1.htm -Virden J. Thornton

Thanks. I'll go take a look. -AZBroker

wel in my opinion, whenever customer don't believe you, your propose will not be accepted. You have to show your cos that you are one of their friends, willing to help them win an oppotunity to get a very special house. You'll be with them not just in selling process but in every later time. You'll be at their side everytime they need. When you've done it. You can close your sale.

Pls feedback your comment

Thanks -nhocaokeu

If your prospects do not believe (trust) you, then you will have a tough struggle for as long as you are trying to make a living in sales. Even if you can convince them that you are one of their friends, they will not necessarily trust you.

Many studies show that Trust is the number one reason that most people give for selecting a vendor; Respect is number two.

For that reason, we have developed a process called the Trust and Respect Inquiry. It enables a salesperson to develop deep Relationships of Mutual Trust and Respect with most prospects in about twenty minutes. However, it will not be effective if the user is not trustworthy. -JacquesWerth

Building trust is a process, not a problem in a sales transaction. Research done by experimental social psychologists, tells us the when you ask "open-ended personal questions" and the prospect reveals something about him or herself, that's when trust is being formed. Quesioning and listening, not "tellin/sellin" produces a climate for achieving a successful closing. -Virden J. Thornton

Most salespeople, that have received any kind of sales training, have been taught to ask open-ended questions. And, most sales books stress the importance of open-ended questions. So, why is it that most prospects do not trust most salespeople? -JacquesWerth

Do you think it is because salespeople ask open-ended questions? :cu -Seth

How you say.... NO. ;bg -WobblyBox

Questions are tools. Tools don't diminish trust, Behaviors do. -Agent Smith

Here are some links to conversations on trust:
Credibility and Trust
Rapport: Establishing trust and respect -Milton

That is not universally true.

Pure interrogatory questions as tools for gaining information would not necessarily diminish trust. Many rhetorical questions can not only diminish trust, but also offend. Questions discerned by the questionee as manipulative can diminish trust. -Gary Boye

I can't agree. A tool is a tool. It always comes down to how the tool is used.

Now I can agree with this. ;wi -Agent Smith

:sec It's not what you ask. It's how you ask it.:fri -Calvin

... and "WHEN" you ask. ;wi

Which brings us back to tools. Some people know how to use tools properly and some don't. ;co -Agent Smith

Isn't that the truth? ;bg ;wi -SalesGuy

What is the connection between open-ended questions Jacques and why "most prospects do not trust most salespeople"?

Also, what does "most prospects do not trust most salespeople" mean? -AZBroker

Is there somewhere online where I can read more about this process? -Milton

Great day,
My name is Michael Coritsidis and I am a Job Ready Strategist/Motivational Speaker/Life Improvement Coach and I feature my "The Seven Steps to Employment Success System.'"

If I may offer some thoughts:

Remember the A.B.C.'s of sales?

I was in Real Estate many moons ago. I sold, managed and trained sales agents on how to succeed in real estate. Before showing, I would want to qualify the potential buyer geographically, emotionally and financially. One of my strategy was to show no more than three homes at any one showing. I would always first ask if the buyer is ready to make an offer on the homes seen. If not, I would ask if you had to make an offer on any one of these homes, which one and what would the offer be. I would then show three more and repeat the process and then the last three and repeat the process (total of nine). Now the buyer made three offers on three homes. Finally I would ask out of these three homes, which one does the buyer want more and go present a real offer to the seller. If he/she still does not want to buy, you have a decision to make.;sm -job ready strategist

That is a fascinating strategy. -Gary Boye

This is remarkably similar to how we train our agents. This is a great strategy. -AZBroker

Do you ever show homes without first getting an Exclusive Buyers Agent agreement signed? -JacquesWerth

Realtor
i've never sold real estate but here's my view on selling.
If you were showing me a series of properties, it would be difficult for me after seeing only one, to say yes I'll buy that one, if I knew i was going to see another 2. So as a sales person person I'd probably use some trial closes of some type, to get a bit of feedback, similar to earlier posts (What do you think of area, look of property, size of proprerty etc). Then after viewing the 3 properties maybe ask an alternative close, based on the houses the customer likes the most - "so which one are you going to go for - the one on 51st or 22nd street? -marky

Good ideas Marky and everyone else. Thanks again. -realtor

THE INVISIBLE CLOSE:

I've never sold real estate, but no matter what your selling you need to decide for yourself if the person/s / prospects [stood before you] are Hot, Warm or Cold buyers. A number of simple questions should soon determine their credentials but learn to keep QUIET AND LISTEN, and read their body language and eyes, and listen to the RAPPORT thats bubbling away beneath the surface.

I cannot improve one iota on the answer given above by Michael Coritsidis, read it, study it, and write down what he said down, except maybe to add another type of close to his; which is this:

Mr Prospect, without committing yourself in anyway to a decision, if you were making me an offer on any of the three properties I have shown you, which property would it be, and what would your firm offer be [now here comes the close]>

And if I can get you that property AT THAT PRICE, YOUR PRICE, DO WE HAVE A DEAL ON IT, and will you AUTHORISE ME, here and now, to sign you up at that price.

When you say this you must lower your voice, talk to him as if your handing out a speeding ticket, and you might have swung the deal. You've led him into a dead end canyon, and any answer given must be in your favour. Please study this close it starts off by saying "without committing yourself in anyway", then gives him the opportunity to commit himself to 7 options. So lets call it the 7 options close. All Real Estate Contracts [See Statute of Frauds] must be in writing, so nothing he says binds him, so you must add the final words underlined above.

Bob. -Incidentally

THE MOST IMPORTANT WORDS IN MY SALES VOCABULARY ARE:

Act 1: Clap hands slightly,
Act 2: Rub palms together as if your hands are cold,
Act 3: Smile,
Act 4: Then say to them ever so sweetly: Well Its Make Your Mind Up Time, which one is it to be?

I have sold millions of pounds with this simple phrase, it must be my trademark phrase by now. And its the best close in the business. -Incidentally

This is good. ;sm

Bob do you wait for the consumer to answer the first question before you close with the second? -Houston

Houston do we have a problem: [Joke]

No its all one sentence, it clearly depends on being heard and being understood and acted on. Its strength is that you appear to be inviting the prospect to speak, to divulge what going through his mind, meaning to reveal all, and you've raised his standing, he's no longer accompanying you but now part and parcel of the sale and an equal negotiating partner of sorts. If his wife, girlfriend is there its an opprtunity for him [the creep / schlock/ misfit/ding-pot/meshugginna] to reveal his great wisdom and business brain and acumen. Take some advice copy it, learn it, practice it. -Incidentally

Houston and All:

The 7 Options close, see above. The prospects offer might be [sample] $150 000. You put this to the vendor, they say no, it has to be $172 500, you then return to the buyer and a quick round of negotiations take place. The vendor might accept the first bid, he might not, but by using this close you've gone into the final negotiations stage. -Incidentally

Bob what were the seven options? :hu -Houston

Houston and All:

Lets go through it more clearly - meaning lets dissect this close:

Mr Prospect, without committing yourself
in anyway to a decision,
[option 1>] if you were making me an offer
on any of the three properties I have shown you,
Option2> which property would it be,
Option 3> and what would your firm offer be
And if I can get you that property
Option 4 at that price, your price,
Option 5> DO WE HAVE A DEAL ON IT,
Option 6> and will you AUTHORISE ME, here and now,
Option 7> to sign you up at that price.

Can I be frank, this close is deadly, it can swing a sale, it can get an uncommunicative client not only to speak, but to take part in the sale process, and become rather keen on doing business with you, not only that at all times you appear to be The Good Fairie.
A reliable helpful sort of sales-person- and this is the secret ingrediant of all good salesmen; meaning the UNSPOKEN ability to appear to be helpful and obliging. -Incidentally

Thank you for breaking that down Bob. I am excited to see how well this works. :thu -Houston

Be sure to report your results back to the rest of us. -JacquesWerth

IMO, this close starts off okay but tapers off pretty fast with 4+5+6+7. -AZBroker