I Am the Real Estate Closer
As you know, a Real Estate Agent does not get paid unless the property deal closes. This means you have to see things thru to the finish line.
If the Buyer’s mortgage is not approved, there is no payday for you!
If the inspector discovers something troubling with the roof, foundation, plumbing or electrical system then the deal is void or put on hold and there is no commission check for you to cash.
There are usually some obstacles leading up to a property closing. Does the owner owe money to someone who has filed a lien on the property? Is the property border line in dispute by the next door neighbor?
Rarely do property deals go perfectly smooth.
Often tensions rise and emotions boil over when people are bartering, negotiating, haggling. "That's my final offer!"
You may occasionally become embarrassed by your client’s behavior. "Take it or leave it!"
Stay calm, Closer.
Keep a level head, you are the License Realtor Pro.
Keep your eyes on the goal... CLOSING!
You probably did a lot of work up to this time, so you have invested in this deal going thru to its completion. But, you are still representing your client’s interests. Your client’s wants and needs must always come before your own desires. Your reputation relies on how well you close.
There is going to be bluffing and staring down, intimidating, low balling and threatening during the haggling process. No one lays down easy. A challenge is to be expected. Challenges are matters of pride.
Your client is counting on you to get the upper hand against the other side and their realtor, lawyers and whomever else they have brought with them for advice.
Buyers and Sellers do not always see eye to eye. It is the job of the Realtors on both sides of the deal to keep the temperatures down. Keep the conversation open.
Each side may have to give a little to push this deal thru.
How Top Realtors Seal the Deal:
There is so much talk about AI, artificial intelligence and technology taking over most industries lately. Know that the Top Realtors are not Robots yet.
In Real Estate, to rise to the top, you must be a great closer.
Yep, unfortunately you still have to be able to do all the other Real Estate Agent stuff too. (office chores, research tasks, filing of paperwork, explaining contracts, placing ads, negotiating with contractors, sales pitching, schmoozing, driving clients to see properties…)
But make no bones about it, Closing is the reason clients pay Realtors like you the big bucks.
A wishy-washy closer loses deals or costs their clients money, time and stress.
Great closers often save the day.
Effective Real Estate Deal Closers are the heroes of the Realty Industry.
Any deal, large or small, that stands the test of time, is your best form of publicity.
When for example, people drive past a property that everyone in town knows you were the realtor that was working tirelessly on that deal or project they are going to mention your name.
The other local realtors, contractors, lawyers, insurance providers, mortgage brokers, government officials are all forced to give you prompts, when you work on a prestigious property project and win.
Closers rule the market!
To rise to the top to be a premier advisor to your local property market and community niches you have to prove yourself in battle.
Your future clients are watching. They may be sitting on the sidelines for this project but you can be sure that they are paying close attention and evaluating everyone involved with the deal.
They are noting how you handle yourself.
Are you letting yourself be pushed around?
Who really is in control of this deal?
Yes, everyone is betting on which Realtor will come out on top.
Who will be seen as getting the shaft of the deal?
Who will be the victor?
The best closures rule their local real estate scenes.
The best Real Estate Closures are in high demand.
When you are a winning Real Estate Deal Closer, no one argues about your fee.
Wrapping Up Realty Negotiations:
You have been negotiating for days and are still no closer to settling on a price than when you first started. Both the buyer and buyer's team and the seller and seller's team are getting testy!
You already know what is important to your client. The task, at-hand, is about understanding the other side’s position on things.
This can be tricky because the opposing side views themselves as your enemy. They do not want you to get inside their head. They may feel that there is an advantage in keeping their motives and true goals secret from you as you all try to work out prices and terms of the deal.
Perhaps it is time to add a deadline for their decision. You cannot allow negotiators all the time in the world to hem and haw over deciding what they are going to do. You must convey to them the old adage, "If you snooze you loose!"
Decision makers have to think that if they stall too long someone else could swoop in and steal the deal right out from under their feet. Or, you could explain that if the contract is not signed by Friday noon then you are raising your price up considerably. Your low price is coming off the table.
You are not playing hard ball. You are just asking for a commitment. Time is money.
After all, if they are not going to act then you need to move on to start working on other arrangements.
"You got to know when to hold um. Know when to fold um.
Know when to walk away. Know when to run."
"You never count your money when you're sitting at the table.
There'll be time enough for counting when the dealings done..."
- THE GAMBLER (1978): Sung by Kenny Rogers, Lyrics by - Don Schlitz
Great Real Estate Closers must learn to read the temperature in the room. It requires a bit of psychiatry.
Great Realtor Closers do their research. They know the stats, numbers and data before sitting down to talk. They have the info they need at hand, ready to be pulled out and used to support their client's position.
Great Deal Closers have high rates of success because they anticipate all of the other side's possible reactions and have prepared their responses. Talk with your client before sitting down to negotiate. Ask your client what they are prepared to do if the other side counter offers with this or that. Rehearse with your client. Practice for any scenario that could arise. There should be no surprises.
Great Realty Closers do not get emotional. Hysterical negotiators make mistakes that cost their clients money.
Keep your poker face on. Do not discuss your client or his or her views about things that are not related to the proceedings. Giving away seemingly unrelated info, especially personal info, may end up putting your client at a disadvantage once the haggling begins.
Be suspicious of negotiators that try to get you to chit chat. They are usually seeking to find out something that they can leverage against you and your client once the price battle begins
Never negotiate or even communicate with a person you are in negotiations with via text messages. You are losing opportunities to learn lots of things about your negotiating adversary when you just text message back and forth. In person conversations and phone talk allows you to feel out your opponent. You get to know their personality. You might discover that they get nervous or pause whenever a specific topic is mentioned. This info could be what helps you seal the deal later in the proceedings.
Never give something away just because it does not mean much to your client. When you give something you need to get something in return. Small things close deals. You never know what the other side puts value on. Having a few things in reserve that you can throw in may just turn the tide when things are at a standstill.
Your first obligation is to get your client the best deal possible but if the other side is also happy well that is an added plus. When everyone walks away satisfied that is truly a great negotiation.
Bear in mind that as a Local Real Estate Closer you will often sit on the other side of the table from the same closers in future deals. For this reason you have to keep dealings professional. There should be no grudges held after a deal closes. You do not want professional animosity to jeopardize a future client's deal. A rival should not feel that they need to get back at you the next time you two square off against each other. That is not fair to either new client.
Remember the Champion Real Estate Deal Closers have confidence. Yes they are persuasive too but that confidence and ability to convince others comes from being prepared. Great Local Realtor Closers know what they are talking about.
More importantly, Realtors that close the most deals have the uncanny ability to know when to act. They step in at the right times. They motivate, persuade and implement when it really counts.
Top Realtor Closers are not swayed by hot heads or drama. They keep their eyes on their goal.
Their power to win consistently comes from research and solid knowledge. Top Real Estate Advisors ask other experts for help when they do not know what the right move is. They have spent their life time putting together their network of experts that they can count on to advise them on all sorts of subjects so their clients get the best cumulative assistance. When you hire a great closure you hire who they know and all with whom they associate with too.
The Realty Closer who does their homework and puts the time in usually wins!
TIP: Go on social media and find out who is sitting on the other side of the negotiating table. Learn as much as you can about all the players. How they conduct themselves online will give you hints as to how to approach your negotiations with them.
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