Updated: Aug 18, 2021
As a real estate agent, you need to understand that there are ways to ask closing questions. A closing question is a simple question to overcome objections, keep control, and test the client’s readiness. You need to be comfortable and have an understanding of the different types, and when and how to use them.
There are many different closing techniques. Today, I am only going to list the ones which are most relevant and effective. See a full list here:
Alternative Close. Give them two options so that they pick one.
Shall we meet today at 4, or is tomorrow at 11 better?
Assumptive Close. Assume you have an agreement. If they do not stop you then you most likely have an agreement.
Should I text the photographer to check her schedule?
Bracket Close. Give options. This can be done on a listing agreement and over 3 marketing plans with different commission structures.
This is the elite plan, and the commission is X. Our basic plan, which is X, and this is our most popular plan, which is X.
Calculator Close. Do the net sheet in front of them at the listing. Get their agreement on their net. This allows the objection to be overcome later, if it appears.
What’s your payoff? Ok, and then transfer tax, marketing fees, discharge, and overnight fees. So you would walk away with roughly $X. Is this acceptable to you?
Companion Close. Instead of closing them, close the people they are with.
Do you like this house Jimmy? Which room would be yours?
Concession Close. Offer a concession to come to an agreement now. This works best when you isolate the objection.
I understand your concern about the commission. If I could get approval to do it for X, would you sign right now?
Conditional Close. When there is hesitation on a specific concern, if you overcome it, you have an agreement.
So if we can structure the offer to include closing costs, would you put an offer in?
Emotional Close. This is designed to play to their emotions.
Can you see you and your family here for years to come?
Rational Close. Use logic and reason to persuade.
In summary, we saw 5 houses today. The second one, you guys really liked. It seemed to fit your needs, and it’s priced fairly. Is there anything stopping you from putting in an offer today? No? Let’s do the paperwork.
Reduction to the Ridiculous Close. Break down the amount they are hesitant about to daily numbers.
I know we are over budget by $120 per month. That is $3 per day. Are you willing to
walk away from the perfect house for $3 a day?
Trial Close. This is a test close. It is used when it looks like there is serious interest.
Little Jimmy seems to like this one, seems like you do, too?
Ultimatum Close. Use when you know it is in their best interest to act now and not wait but they want to think about it.
I understand you want to think about it, but the home you want to take time to think about is the same home someone saw yesterday, who thought about it last night. Would you be ok if it was not available tomorrow?
Understanding how to bring your clients to a place where they can make decisions confidently is an important skill for every realtor to have. Practice these techniques often, until they’re second nature for you. Then, you’ll be able to use them effortlessly when your client needs your guidance.
Till next time,
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