Once the contract is signed, knowing how to close a real estate deal efficiently will help you complete it ahead of schedule. Often, there are many parties involved in the process, and coming into the “home stretch” with the right plan will save you lots of time and frustration.
How to Close a Real Estate Deal Ahead of Schedule
- Be Proactive
- Take Charge of the Process
- Reduce Your Paperwork
- Provide Good Customer Service
- Don’t Drop the Ball
Use your experience to your advantage. Be proactive and think several steps ahead to eliminate obstacles (or at least make them much smaller to scale). Does the house need a particular repair? Jump on the phone right away to get some estimates.
Take the lead in the complicated process of the home sale. With so many parties involved including buyers, sellers, lenders, real estate agents, brokers, and more — taking the lead in communications and “checking off all the boxes” is critical.
As you know, if there is a gap in sharing of information, delays can easily occur. Has the decision been made by a contractor for a repair and an appointment set? Are you in communication with the home appraiser and know when it will be complete? Asking yourself these kinds of questions — and taking action on next steps — will make you a good project manager, and help you to close ahead of schedule.
Don’t get bogged down in unnecessary paperwork. Certainly, if it is a critical legal document and is required to close the sale, it will be part of the process. But often, certain negotiations and decisions can get taken care of by verbal agreements.
A key step to point out here is quality control. Regarding the necessary documentation, be regimented on checking to make sure everything is present including all signatures or initials. Doing this is very important to eliminate preventable delays. (And can reduce a lot of headaches!)
You know that term “You get more bees with honey than vinegar”? It is certainly true in the housing industry too. Be friendly and be conscientious of people’s time with negotiations, getting any necessary legal documentation, and all communications.
You are more likely to get positive and efficient responses to communications if you are courteous and thankful. Doing this not only facilitates a better closer experience, but it also helps to move the process along and plays a crucial role in closing ahead of schedule.
Even one misstep can cause a delay. Don’t drop the ball and make sure to follow up with agents, buyers/sellers, lenders, etc. to keep the process moving. Nobody wants to hear – “But I sent that email a week and a half ago, didn’t you receive it?” From completing repairs to getting e-signatures, follow up on all matters related to closing on the home. You and your clients will be better off for it.
A Better Closing Experience
Knowing how to close a real estate deal the right way by being organized, taking proactive measures, and being professional gives you the tools you need during that precious “home stretch” to close ahead of schedule. Follow these five tips, and you will not only be able to close more sales each month, but you will also save yourself (and everyone else) a lot of unwanted stress.
Bay National Title Company offers a variety of title and settlement services, including REO and default services. Learn more about the title services we offer and how we earn our claim of the best team in the industry every day.