Did you know the Australian residential property market is now worth $9.7 trillion, and it’s growing at a vigorous pace? Given this, you should be optimistic enough about your future if you work as a real estate agent.
However, the sad reality is closing real estate deals is not easy. You need to master several sales techniques and strategic real estate negotiation to ensure conversions and obtain all the associated benefits. Want to learn the best closing techniques for real estate agents? Read on and find out everything involved.
The now or never method
This conventional sales hack offers fantastic benefits. When your potential buyer is going through a hard time moving to yes, you can take the golden chance by creating a sense of urgency. You just need to identify the client’s interest level and make your ‘now or never’ offer.
The technique works with a simple methodology – you can shift your prospect from ‘interested‘ to ‘sold‘ with some special and limited-time offers. However, you shouldn’t be outwardly pushy.
Your now-or-never offer may sound like this: “If you are ready to close the deal today, we can help you enjoy a special deal, which can make things easier for you. You can expect to avail of this premium package if you close the deal by the end of business hours today”.
The puppy dog hack
This unique technique uses your potential buyers’ interest or love for the product to motivate them to buy it. It is simply like taking a puppy home for a few days makes the way to its adoption. You can also take the example of try-before-you-buy or test drive.
To amplify your prospect’s interest, you can motivate them to visit the property and spend a few hours exploring the interior, exterior, and neighbourhood. You can also help them visualise how vibrant life may look once they make the property their home. If you can convince them that this offer is almost a dream come true, the chances of conversion may increase.
The summary closing
Summary closing is one of real estate agents’ most straightforward closing techniques. You just need to exhibit the unique benefits or values of the property.
For example: “You will get a functional washer and a dryer with this home,” or “the property is fully furnished – you won’t have to invest a single penny in beds, washers, dryers, or an oven.” This way, your client may understand that the property they have chosen fairly justifies its value.
Sharp angle close
It’s one of the popular modern sales closing techniques. Also called the ‘if I … will you close,” the sharp angle technique revolves around giving prospective buyers what they want and getting something that you want in return. You can use this technique when your prospect is looking for price reductions or additional services that are not included in your offer.
This technique usually works because you give your potential buyers whatever they want, but only if they close the deal. Experts consider this technique an unusual fusion of assertion and accommodation that induces a sense of victory in the prospect. Eventually, this sense helps you get the deal done. However, ask your sales manager or take the concerned authorities’ approval before you use this hack.
Assumptive closing
This closing technique induces positive thinking. You will have to analyse your client’s interests, objections, and engagements during the meeting. Once the discussion is over, ask them if you have been able to meet their expectations.
This way, you will be able to showcase yourself as a responsible real estate agent who cares for their buyer’s expectations and comforts. Consequently, they may assume dealing with you may turn out to be beneficial. This assumption may contribute to the conversion.
The takeaway method
You can refer to this unique closing technique if your client is a real estate investor. Consider your buyer like a kid who has had their favourite toy taken away and wants nothing but that toy.
If your client likes everything about the property, but the price is the key constraint, simply offer a good discount. Besides, you can remove a particular feature to justify the price reduction. They will prioritise the feature instead of the discount. Consequently, you will be able to close the deal.
