Your client needs to be happy! The real estate business thrives off of repeat and referral business. The more challenges a client runs into when you represent them in a closing, the less likely they will be to return to you and they may even tell their friends/family about their unsatisfying experience.
What do you think is the best way to seal the deal and offer your client the smoothest closing? It seems, when representing a buyer, that there are 3 distinct stages to the buying process to which you are tasked with:
● Helping the buyer find the house
● Getting the offer negotiated
● Closing the deal
Those are the 3 distinct segments involved in sealing the deal and each stage represents different challenges. Here are our top tips for preparing your client for a smooth closing.
1. Helping the buyer find the house.
● Listen to your client and what is important to them – this seems obvious but we mean really listen. Learn about their family and what they look for in a neighbourhood, not just a home.
● Research – come up with some really great options for them to see but check each before presenting them to ensure that there isn’t already an offer or that the property is still on the market. There is nothing more disappointing for a consumer than to fall in love with a listing only to find out it is not available.
2. Getting this offer negotiated
● Leverage technology and electronic capabilities to reduce the “paper” back and forth and unnecessary meetings that often occur when negotiating paper-based offers by fax and even email.
3. Closing the deal
● Once the offer is all signed off – you know the deal is not closed. You are going to have to align your client with the right professionals to ensure the deal closes. Crucial relationships include: mortgage broker, home inspector, real estate lawyer, home insurance broker, etc…
When it comes to a closing, it will only be as smooth as how aligned your resources are. Strong relationships with other competent parties to a real estate transaction will enable you to be in the loop in case challenges come up, such as an issue on inspection, with the mortgage financing, etc…
If you want to seal the deal, then it is important to have contingencies, tools and resources in place to not only help your client find the home of their dreams, but also to uncover the information relevant to your client and address any hiccups that could occur.