Selling or buying a house are exciting journeys that may also become stressful life events, especially when delays throw plans off track. Real estate matters can get complicated in the long run. Most of us do not buy enough property to possess an innate familiarity with the procedure. Whether you’ve played in the market before, never committed, or you’re entirely unfamiliar with real estate to start with, you must begin to create a plan well in advance of closing so that when the time comes, you’re bold and ready to rise to the occasion.
Closing is a make-or-break moment in sales. So, selecting the correct phrases to seal a sales deal is vital. And this moment is likely the outcome determining whether or not your efforts will amount to anything at all.
Since sales professionals are expected to generate the best possible win rates for their effort, many closing sales tips have been developed over the years.
Here are some helpful tips to ensure you cover all the bases as you reach your client’s closing day.
1. Set Proper Expectations
To have an ideal closing experience, you need to set the right expectations from day one. As easy as it can be to tell buyers and sellers what they want to hear, the importance of establishing proper expectations from the starting cannot be underestimated.
For instance, if you are in a strong sellers’ market, you must set the expectation with your buyers that they will need to be flexible with the settlement date. Sellers typically have a desired closing date, and with multiple competing offers, closing on the deadline might make or break the offer. In such a situation, buyers will want to ensure that the seller’s desired closing date aligns with their mortgage lenders’ timeline.
While this creates an expectation for the client that they may experience difficulties, it enables them to be mentally prepared and not be surprised if the situation occurs. If you decide not to bring it up, it can create a bad experience for everyone involved, leaving the buyer feeling frustrated and potentially wary of moving forward.
2. Informative Walkthrough
Finish a walkthrough of the new house a few days before closing to ensure that it’s in the same condition as when it was purchased and that all inclusions are present and in adequate working condition. Make sure the buyer personally inspects all home repairs that the seller completed. If substantial repairs were made, it is worthwhile to have the home inspector return to confirm that repairs were made as specified in the contract. A home inspector will typically return to the house for a minimal cost, which is well worth the added peace of mind. Be sure to check with the home inspector during the initial inspection about the return service.
One can use the Summary closing technique here. By summarizing the previously agreed-upon points to one impressive package, you’ll be able to help prospects visualize what they are getting out of the deal.
3. Create a Detailed Closing Package
Collect all the relevant documents from the transaction and place them in a folder so that the buyer can use them as a reference for years to come. Be sure to include the following documents:
- Closing/Settlement Statement
- Brochure from the Home Warranty Provider
- Deed of Trust and Promissory Note
- Complete and Signed Sales Contract
- Instructions on how to file for any buyer rebates or credits
- List of good vendors (cleaning company, laundry, landscaping, repair services, etc.)
Lastly, do not forget to ask your attorney to join at the closing time.
After the closing process, always send a handwritten thank-you note. Whatever you do, the focus is on making the homebuyers feel special and showing them how much you appreciate their choice. You may face closing days quite frequently, but it is crucial to remember how exciting it is for homebuyers every time they close on a new property. Going above and beyond to make sure they have a wonderful closing experience does not cost a lot, and it can reap many rewards in terms of creating clients and referrals for life!
While closing on a home may seem daunting, many services are available to smoothly run the process. We at Atlantic Building Inspections can help make the process much smoother.
We help realtors make accurate reports for the closing day. We perform detailed inspections and reports with all of our findings, including pictures and repair cost approximations. Our certified home inspectors spend 3 to 4 hours thoroughly evaluating all aspects of the property one is purchasing, from the roof to the basement and all areas in between.
At Atlantic Building Inspections, we provide critical insights into the home’s construction, as well as a chance to prevent expensive repairs later on down the line. To know more, connect with us today!