The close is unequivocally the most important part of any sale. Would you be mentally prepared to close a deal, right now, with a prospect you have only just met?
Many new sales professionals mistakenly believe that the “close” comes at the end of a sales transaction. In reality, it’s an ongoing process that requires different communication tactics during each step of the conversation. As a real estate investor, you must learn to adopt the attitude and skill set of a master closer, always slowly building up to the outcome you desire from the sale.
Espousing these strategies will help you become a confident closer in no time:
Validate Your Prospect
When engaging with a potential buyer, it’s important to make them feel just as comfortable doing business with you, as you are in making the sale. This requires guiding the conversation to benefit them, not you. You may establish this essential trust in a few ways.
First, listen to your potential client’s unique needs, concerns, and questions. As a real estate investor, you want to be able to shoot down all their red flags when it comes to buying your property – but first you must find out what these red flags are. Next, validate your prospect by communicating that you understand their opinions and needs. Do your best to resolve their concerns, answer as many questions as you can, and promise to follow up with due diligence on any additional information that would help them make a decision.
Write Everything Down
No matter how good you think your memory is, you’d likely benefit from a serious note-taking and message-writing practice. Closing a sale will require you to reiterate arguments and value propositions that you and your prospect have already made and agreed upon. Having these written down will help you close with confidence and certainty.
Many sales slip through the cracks simply because communication is lost. By keeping written records of your conversations with prospects, and consistently sending them written messages, you can follow a trail of evidence and successfully follow through on more “lost” sales opportunities.
Always Confirm Next Steps
If you and your prospect are pausing the sales conversation until next time, it’s imperative to establish the next steps in the process clearly and succinctly. Never leave the call or meeting without having already scheduled another one with them – your timeline is your bottom line when it comes to closing. Ensure the prospect know what their responsibilities are, if any, prior to your next meeting.
In keeping with the rule of writing down all relevant information, always send a follow-up email message. This can contain a simple thank you, a calendar invite to your next phone call or in-person meeting, and even a preliminary written proposal, as well as any notes or requests from your previous meeting.
My final tip for becoming a consistently great closer? Utilize questions as much as possible when you speak with prospects. Ask questions to build rapport, gauge their interest, and always ask if they understand before introducing new information, or moving on to signing.
Above all, use your communication skills to show your prospect you’re on the same team. You’ll be closing in no time.