According to statistics from YCharts, single-family home sales across the nation stood at about 538,000 in February 2016 — a drop of just over 2 percent from February 2015.
The housing market has continued to stabilize, yet some stubborn clients still hesitate and refuse to seal the deal. Read on for six ways that you can motivate your customers to sign on the dotted line.
1. Listen to your clients
First and foremost, clients want to know that you are listening and hearing them. Allow them to communicate, and let them vent if they need to. Don’t interrupt; let them keep talking.
Your attention will show them that their concerns matter to you — even if their complaints are not legitimate. Ask specific questions about how you can help resolve the problem.
Try not to take their criticism personally. Instead, look for ways to show your support as their agent. Empathize and sympathize with their concerns.
2. Inform and educate
Make sure that you inform and educate your customers about the buying process. They might not realize how much the market can fluctuate.
Clients might think they can take weeks or months to sign on the dotted line. That gorgeous home that your client is considering might be gone tomorrow — purchased by the person who considered it last night and decided to buy today. It’s a real possibility, not a scare tactic.
3. Look for creative solutions
Provide stubborn clients with the added attention and hand-holding they might need to close the deal. For example, if they seem to be stuck on small details of their desired property, try to resolve the issue for them.
Do they love the living room but hate the color of the paint? Is one of the kitchen appliances outdated? Would the offer of a home warranty on the house motivate them further?
Whatever the case, try to be understanding by putting yourself in your client’s shoes. If he or she responds emotionally, mirror some of those feelings so that your client believes that you are on his or her side.
4. Redirect the client’s focus off the problem and on to the goal
A client might express opinions emotionally; sellers get upset by what they perceive is a low offer or an overpriced home when they are buying.
Do not take an emotional outburst personally, but instead, acknowledge your customer’s feelings. Then, point out the positive aspects of the deal that might help the client use his or her better judgment and reconsider closing the deal.
Does your client want to sell a residence but feels that all of the offers are too low despite comparable home prices? Switch the focus from the sale price to what the client wants to accomplish with that money — for example, buying a different residence.
5. Overcome objections
Use the straightforward approach by asking the client a particular reason he or she does not want to buy right now. You might be able to resolve these issues easily and overcome the objection.
Confirm that you can solve the problem, and then ask if the client will buy if you do so. If the customer still says that he or she needs to think about it, ask what you can do to finalize the deal today.
6. Employ a strong closing
A strong closing might help convince your client to sign on the dotted line. For example, if your client asks for a certain concession, he or she has indicated readiness to buy.
Ask whether the client will close today if you can fulfill the request. Review what’s known as the “Ben Franklin list” — a column with the advantages and disadvantages of making the purchase. Close the deal by listing as many positives as possible in the advantage column.
Use these six tips to close the deal with your next stubborn client.
Jackson Cooper is a writer and real estate enthusiast at Jensen and Company. Follow Jensen & Company on Twitter or Facebook.