During business coaching sessions for real estate companies, one of the first things they teach you is the art of the Sale, and one of the most important aspects of this is knowing when a deal is close to closing. Knowing when a client is ready to sign on the dotted line is essential knowledge because it helps you move the process along and make the client as comfortable with their decision as possible.
Fortunately, you don’t have to be a mind reader: there are clear signs when a deal is about to close. Here are 4 telltale signs that a deal is close to closing.
The Deal Has Been Moved Up the Chain
In business, one of the best signs of a deal pushing through is if the discussion has been forwarded to people who have the actual power to decide. This usually means that you’ve moved on from the first person of contact and you’re now talking to a C-level Executive with the power to make company-wide decisions. This is a great sign because this means that upper management is no longer just interested: they want to implement your deal, they just need to iron out some details.
For realtors, this part is a lot simpler: you’ll know the deal has been moved up the decision-making chain when the clients themselves are talking to people who handle their finances. It’s always a good sign for any realtor when the person they’re dealing with has started a conversation with a bank or their spouse or a lender.
The Client Starts Discussing Dates
In the process of making deals, a salesperson will often have to discuss a whole laundry list of what-ifs and maybes with their client. This is to be expected; after all, your client wants to know as much as they can about any kind of business dealings before they move forward with anything. If it has been moved up the chain to a decision-maker, however, and your conversations start to look different.
When a deal is ready to close, your client is going to start replacing their “if” with “when”. This means that they’re sold on the idea of your deal, they’re now concerned with how the timeline will affect their operations. For realtors, this usually happens when your client is discussing schedules like when to move in or how often payment happens with their mortgage.
A Clear Plan Starts to Appear
Most business deals will require a clear-cut action plan for it to prosper, one that involves detailed steps to get from point A to point B. The more detailed the plan is, the better. This means that a detailed implementation plan is a clear sign that the client is seriously considering your option and is willing to invest time and effort to lay down steps to execute and implement.
In real estate, a client that is starting to discuss detailed and actionable steps to acquiring a listing is a great sign that your deal is heading to a close. Applying for mortgages, planning out budgets, and other financial concerns are rarely fun for anyone, so if your client has started talking to you about this and is actually planning out how to build up their funds to afford a house, count that as a great sign.
The Client is Talking Money
Speaking of funding, whenever a client starts discussing how they’ll fund a particular project that you’re proposing, you’re pretty much in the clear, especially if they’ve already laid out an implementation plan, created a schedule, and the person you’re speaking to is the lead decision-maker for that organization. Once they talk money –and barring any unforeseen circumstances –your deal is practically headed to close.
It’s the same for real estate: once you and your client have discussed prices, an offer is reached, and they’re now talking about mortgage schedules and financial statements and all the other necessary things to fund the purchase of a house, the only thing left for you to do is cross some T’s and dot some I’s and you should be in the clear.
Read any client with clarity by hiring a real estate marketing coach!
Shawn Tiberio is one of the most sought-after real estate marketing coaches in the country thanks to his unique set of skills that make him a veritable expert in both marketing and real estate. A successful realtor of over 20 years, Shawn has been in the industry long enough to know the subtle ins-and-outs of closing deals, and he’s ready to share his knowledge with the new breed of real estate professionals!
We know how difficult it can be to get your foot through the door in the real estate world, which is why Shawn has prepared tools, mindsets, and other materials that you can use to train yourself to become the best realtor that you can be.
Want to know more? Contact us today so you can book a one-on-one call with Shawn himself!