In the real estate industry, every minute counts. As a real estate professional, the only time you make money is when you close a deal. The trick to being successful, and generating a ton of revenue, is to close real estate deals quickly, so that you can work on more deals and keep the cash flowing. You can focus on getting more and more deals, but if you’re not closing those deals, it can become overwhelming and your business might seem to run a bit slow.
Closing real estate deals quickly might be easier said than done. But we’ve put together some tips to help you close deals fast. Here are some things to consider:
Screen and Qualify Leads
As a real estate agent, you are always searching for people who could be potential clients. These people are called leads. Unfortunately, every lead will not become a customer.
Those who are likely to become a customer are referred to as qualified leads.
So, how do you tell the difference between the two?
There are quite a few ways you can determine if a lead will become a qualified lead. One thing you could do is interview your leads before you dedicate your time to working with them.
During these interviews, real estate agents determine if this person would be a good fit for you or will become a client that is difficult and takes up too much of your time just for it all to be a waste.
At Call Motivated Sellers, we only bring you qualified leads. Our team will focus on initiating a relationship with the lead, before we send them your way. We will get a feel for their budget and their expectations.
Once we have started building a relationship with them, we will send them your way so that you can get to the point in the process that really matters; closing the deal.
Qualifying leads is extremely important when it comes to saving you time. Wouldn’t you hate to spend hours upon hours with clients, just to find out they are not interested? Qualifying those leads will help you to avoid that scenario.
Note– we will keep track of everyone that we speak to so that you can use the information down the road if necessary. Many times, we find that prospects are not in need of services at the moment, but down the road they may be, so we always hold onto contact information and notes in our sales system.
Understand Your Client’s Needs
The most important thing you could do as a real estate agent to qualify your leads is to ask the client to state their budget. You might spend a ton of time helping this potential client and then when the time to talk price comes, they suddenly disappear.
Asking about a budget can seem intimidating, but it saves both you and your client time.
You will also want to ask the client about their timeline. When is the client able to make a purchase? That will determine how quickly you are able to close a deal. If a client does not have a timeline, or they seem to change the topic, consider this a red flag that they are not interested in making a purchase anytime soon and this might be a waste of your time.
As harsh as it may seem, keep in mind that you are only making money off of the deals you close as a real estate agent. So, do not be afraid to have these conversations with your client up front.
Build A Sense of Urgency
If your goal is to close a deal quickly, you must create a sense of urgency. If not, clients will spend a lot of time looking around or waiting to make a decision. As a real estate agent, you always want to create a sense of urgency because, the faster you close a deal, the faster you get the commission.
Some of the ways you could create a sense of urgency is to make it clear to clients that if the client doesn’t make an offer on the property they like, it could be sold to someone else.
If a client is interested in a property, ask them “Do we have a deal?” it might seem as if you are being a bit pushy but often times you have to be. Many times, real estate clients are not ones to act fast, so they need that extra push to get them the property they want.
Also, don’t hesitate to create deadlines. Ask clients questions like “when would you like the offer in by?” By creating a deadline, you are helping your client to make a commitment.
Work With Your Network
If you have kept up with our previous blogs, you might have noticed we talk about networking a lot. That’s because the real estate industry is a people-person industry and it’s all about who you know.
If you have a strong network within the real estate industry, you will be able to reach out to other agents to search for buyers. Maybe their client is looking for property or they know of another agent who might be interested in working with you. If you want to close deals fast, reach out to everyone in your network and they might be able to help you find a buyer.
Call Motivated Sellers
While you’re reaching out to your network, our team at Call Motivated Sellers will make cold calls to find you the right buyer. Reaching out to your network is effective, but it is unlikely your network will know of a buyer every single time.
At Call Motivated Sellers, we will begin by qualifying each lead and creating a sense of urgency so when we send the lead your way, they are ready to close the deal.
If you’re looking for ways to close real estate deals fast, our team is here to help! Contact our team today to get started!