Real estate closing techniques have become a lost art for real estate agents. This is, in part, due to a general misconception about what “closing” really is.
In actuality, effective real estate closing techniques can be used at anytime in a three-step organized sales process (OSP). A real estate agent’s OSP takes an individual from โLeadโ to โProspectโ to โClientโ or, in other words, from โContactโ to โAppointmentโ to โContractโ.
The idea is that you are always moving the lead or prospect forward to the next stage in the sales process, taking them in the right direction from contact to appointment to contract. Closing happens when we stop talking about what we will do or would do and ask them if theyโre ready to start doing it.
Watch as Icenhower Coaching & Consulting’s founder Brian Icenhower explains more about real estate closing techniques in this brief video segment from ICC’s online course PROSPECT:
Below are just a few quick examples of how to close through each step of a 3 part organized sales process.
โBased on these factors, hereโs what I suggest we do: Letโs meet, outline your options, and take the first two or three steps together for about 15 minutes. Does this make sense? Does Tuesday at 3:oopm or 4:00pm work for you?โ
โYouโve agreed that the marketing and launch plan looks solid, and our price point is established. Would you like to work with me, starting tonight? Letโs make it official with paperwork, okay?โ
โThis is over the net proceeds you wanted, and weโve reviewed the other terms and liked themโฆ. We can accept this now with your agreement. How does that sound?”
The following 4 real estate closing techniques are just examples of the many closing techniques, scripts and methods that are included in ICC’s online course PROSPECT.
This is the real estate closing technique that offers subtle & small commitments and validations. You state three โleadsโโstatements the prospect has agreed to be true or valid, and your โcloseโ is stating the logical next step:
Lead: Youโve explored homes for sale online,
Lead: There are so many choicesโyouโre not sure whatโs a great fit,
Lead: The time it would take me to explore them for you is time youโd save,
Close: Letโs agree to meet Tuesday, so I can report what Iโve found.
With the Lead-Lead-Lead-Close model, you essentially validate, validate, validate and then close based upon that validation.
At the end of the day, when thereโs a decision to make, the choice belongs to the client or prospect. With the Choice-Effect-Choice real estate closing technique, the agent weighs in with a few benefits or effects of the prospect making this choice, and then invites them to commit and make a final decision.
Choice: “What do you say you let me preview the property, and have you walk me through it?”
Effect: “Iโll gain perspective through the eyes of a buyer, and share what weโd do if we listed it, as well as some tactics you can use no matter who you list with.”
Choice: “Iโll be in your area around 5 tonight, and will finish with what Iโve promised to do by 5:30, okay?”
This real estate closing technique offers three options that run the spectrum of what could occur. When using this closing model, always present realistic scenarios. Donโt swing for the fences or overly dramatize the possible outcomes, or youโll create suspicion and distrust.
Mr./Mrs. Client, hereโs what I suggest:
Best Case Scenario: “We explore how I can help, you like most of what I have to say, and I answer your concerns & youโll want to work with us.”
Worst Case Scenario: “After the first 10 minutes, should you decide this is NOT a good fit and youโd like to look elsewhere, we will part as friends.”
Most Likely Scenario: “We explore together, and what you donโt like, we find a way through to a mutual understanding where you win on all fronts. Is this acceptable?”
The Feel-Felt-Found real estate closing technique uses tried and true empathy:
Feel: โI completely understand how you feel.”
Felt: “I can appreciate it because some of my other clients have felt the same way when they ___________.”
Found: “What they found later was that _______________ .” Would this last factor change your mind about making a decision, at the risk of feeling ________ in the beginning?โ
The Seller Lead Sheet & How Agents Use One
How & When to Hire a Buyerโs Agent
Real Estate Team Organizational Structure
Pre-Listing Package Contents & Strategies
Buyerโs Agent Job Description
Listing Presentation Scripts & Dialogues
The Best Way to Contact your Sphere of Influence
Lead Follow Up Scripts & Methods
Compensating & Training Inside Sales Agents โ ISAs
Open House Guest Lists โ Scripts to Get Them Filled Out
Ways to Grow a Real Estate SOI Quickly
Inside Sales Agents on Real Estate Teams
REALTOR Database Contact Plans & Scripts
Realtor Vendor Databases: Scripts & Lists to Build Them
The One Page Real Estate Business Plan
How to Transfer Facebook Friends to your Client Database
A Real Estate Administrative Assistantโs Job Description
FSBO Prospecting Scripts & Objection Handlers
Open House Scripts to Generate New Listings
Scripts for Buyers: How to Show Less Homes
Just Listed & Just Sold Real Estate Scripts
What to Say When Calling FSBO Sellers for Listings
Easy Ways to Ask Your Clients for Referrals