- Perfecting art of the deal can be lifelong process
- Help new team members develop tactics and confidence to close deals
The Art of the Deal Requires Strategies, Practice and Confidence
One major difference between veteran agents and new agents is that veteran agents KNOW that deals can fall apart and newbie agents donâ€™t. Â Veteran agents know that deals are only closed when all the “i’s” are dotted, “t’s” crossed and all parties sign off on the deal with their signatures. Â Newbies don’t.
You veteran agents and team members can help newbie team members get to that “done deal” status.
Here are some of the strategies/tactics that can help your newbie members learn and perfect the art of the deal:
Insist on Proof of Funds
In this highly competitive, frenzied housing market, sellers and their agents welcome connections to buyers.Â One way to establish such a connection is with a personalized letter to the seller along with a proof of funds endorsement.
Sellers want to know that buyers who require a loan to close the deal have been pre-qualified for a mortgage with a substantiated pre-qualified letter from the lender.
Again, in this crazy housing market, help sellers favor your buyers by offering shorter escrow periods, all-cash bids, short or no inspection contingencies and/or no appraisals.
All of these offer strengtheners will help expedite the pace of the deal and, hopefully, help close the deal.
Make Closing the Deal a Team Effort
One reason agents build teams is that every team member has, or ought to have, something (skills, networks, insights, presentation savvy) to add to and enhance the deal.
Let you newbie team members know that it is a strength, NOT a weakness, to work with and utilize other team membersâ€™ expertise, insights, market knowledge, etc.
Additionally, because so much of real estate is about relationships, it may help the sellers and sellersâ€™ agents to know that you have the â€œbackingâ€ and wisdom of your team members.
Thanks to Inman and David Parnes, director of Los Angelesâ€™s The Agency, writing for Inman.
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