How to close a sale? Indian real estate for dummies gives you a few tips

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If you search the internet with the key words 'how to close a sale', you will get a mind boggling number of results!

We, at Indian real estate for dummies have some things to add to the list as well. Having closed many real estate sales in India, we write er, type below, in simple points on how to close a sale.

How to close a real estate sale for dummies:

1) Know your prospect. One of the most critical parts to closing a sale. Find out where he works, how many people in the family, how does he travel, does his work require frequent relocation? Where do the kids go to school? The more you know about your prospect, the better you can connect and thus, the faster you can close. Home buying is about presenting the best solution to your prospect. If you do not understand the requirements, poof goes your sale.

2) Hear your prospect out. Never use terms like 'this is the best deal in the world' or 'sir can you get the cheque book to the site when you come?' or 'why don't you make a booking with a token amount and then get the family to see it next weekend?'. Home buyers are a smart lot now. They do not need your wise a** sales cracks. Let the prospect do the talking. Understand his needs genuinely. Judge the buying tendency. Which property has he liked more? Are you forcing something on him? If yes, then 99 out of 100, it will not work. Listen. The signs are there!

3) Prepare well for each visit. Know your product in and out! Do you know if all the documents are in place for the property you are presenting to him? Is it a soft launch? What are the extra charges? How much will be the maintenance cost per square feet when he moves in? Make a detailed list of queries and give it to all your prospects for that property and others. If you are faced with a question that is not on the list, politely say that you will get back and note it down in front of the prospect. It makes the prospect feel that you value his query. Takes you a step closer to close the sale.

4) Know the basics of home finance. Each prospect will ask you how the arithmetic works. Be updated on key interest rates and EMI per lac figures for ten, fifteen and twenty year loan terms. If you are in doubt, call a home loan agent and find out.

5) Get back when you say you will. After the first visit and the property site visit, get back to the prospect via a call/ email/ sms. Thank her/him for taking out the time. Then, send out a satisfactory answer to each of the queries raised. Read the reply yourself first. Would you be convinced if you were the buyer? If you don't think so, chances are, you will not satisfy your prospect either. Be your own judge. Don't do something for the heck of it. Put your darn heart in it. Selling ain't easy buddy!

6) Ask closing questions, gently. After the prospect has frozen on a few choices, ask a few leading questions. 'Would there be any other issue you want to discuss about this property?' or 'Are you happy with the design and the project layout?' or 'Now that we have found the unit you desired, can we do the deal?'

7) Don't reveal all your cards at one go. Understand the prospect's mind. Is he willing to pay the premium for height or directional choice? Is he happy about the infrastructure and design? Does he like the location? Is the wife happy with the kitchen layout? Hold the best choices for the last. Window seats in trains and buses are taken first. You don't have to be a great salesman to move the best apartments. They sell on their own. Get it?

8) Be firm when you have to. Prospects like firmness and honesty. If you cannot give something, Do not say yes just to bag the sale. You will put the developer in a lot of soup later on. You also bring down your brand in the process. Be firm about what you can give.

9) Find out who the key decision makers are and meet them. The prospect alone will not decide if that is the right choice. There is a family behind him. Ask your buyer who the key people are. Arrange to meet them all and get a feel of what they are looking for in a home. Present your choices accordingly.

10) Be presentable. Always dress neatly and have your shoes polished. Indians expire, says Russel Peters, so carry a nice smelling deo with you, especially during summers and more so if you are riding a motorcycle. Wear dark coloured shirts so the dust and grime does not show!

11) Exit with grace. If the choices you have do not work for the prospect, don't push. Always thank the buyer for her/ his time and leave with a smile. You know, these days, the best salesmen out there are working just on references!

Have a specific closing question or a situation where you need help? Leave a comment below. We will help you!

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3) How to launch a new real estate project

4) Starting a new real estate brokerage business? We (mis)guide you (not)!