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5 Signs Real Estate Buyers Send When they are Ready to Pull the Trigger

5 Signs Real Estate Buyers Send When they are Ready to Pull the Trigger

Despite the advice to sales pros proffered in the iconic movie, Glengarry Glen Ross, “Always Be Closing” is not a good selling strategy. Here are five signs real estate buyers send when they are ready to make a decision.

Trying to Close Before You See Buying Signs Can Bring on Rejection

Trying to close a sale before your buyer is ready to make a decision can negatively impact relationships with decision-makers or even drive them away. Here are five signs both commercial and residential property buyers send when they are ready to sign on the dotted line.

5 Signs Real Estate Buyers Send to Let You Know It’s Closing Time

1. They ask about the process.

Clearly, if a commercial property or residential home buyer is asking you what the next step in the process is, they are at – or nearing – the point where they will make a buying decision. This is your opportunity to see just how painless and easy you can make it for them to take the next step in the real estate buying process.

2. They ask if the “best offer” is on the table.

While this might mean the most recent offer was not good enough, it could also mean they are ready to accept it and just hoping for one more concession. If the sellers have made a fair offer, it may be best to say that the best offer is on the table, rather than potentially opening up a new round of negotiations.

On the other hand, if there is a way to sweeten the deal that may be especially meaningful to your buyer, you might consider offering additional incentives for signing on the dotted line (along with an offer expiration date!) in the form of a “here’s our bottom line” number.

3. They ask about options or alternatives.

If a real estate buyer asks about add-ons, buyer bonuses, upgrades, HOA or maintenance fees or other options, it could mean they are ready to make a decision and want to be sure they will have what they want most, or it could be an indication that they are comparing the property to other options. In either case, it’s an indication that they are ready to make a buying decision but want to be sure they are getting the best deal for them. Find out which of these “extras” are most important to your buyers and see if you can deliver them; it might set your property apart from all the others they are considering.

4. You overcame or satisfied objections or concerns voiced by buyers.

Addressing real estate buyer concerns, providing education, comparisons and specifications, providing guarantees or offering buying incentives can all be the means of overcoming buyer objections, and it’s a natural time to ask the buyer to pull the trigger or ask “trial closing” questions (see below).

Alternatively, objections raised can also be a signal that a buyer is not quite ready to make a decision or is having second thoughts, especially if the buyer is raising new objections after you have addressed their initial concerns. It’s also important to be aware that buyers may not always provide you with the real reasons they are not ready to buy. Don’t be afraid to take a step back to give them time to re-consider their decision or to evaluate whether you have correctly identified what’s really holding them back.

5. Readiness has been identified using “trial close” questions.

The “trial close” is usually a type of question asked to determine if the buyer has any additional concerns or objections that have not yet been discovered yet, such as:

  • Do you need any more information before you buy? (or sign the contract, etc.)
  • Do you want to see any other options?
  • If all concerns / buyer requests are met, are you ready to make a decision?

Trial closing questions can help you evoke buying signs and determine how close a buyer is to making a final decision. They also help ensure that you don’t lose a sale simply because you didn’t ask for one, but without putting the buyer into a final “yes” or “no” position.

While many in sales use the term “closing” to refer to what they do to motivate buyers to take action, the “closing” of a sale is simply the final step of a transaction, whether that involves a buyer signing a contract or submitting payment. In commercial and residential real estate, the buying cycle can vary widely in length, with some buyers arriving to the process nearly (or completely) ready to make their final buying decision, and others needing additional information, incentives or time.

Regardless of the length of your buyer’s individual cycle, it’s important to pick up on buying signs that can tell you where they are in the buying cycle, so you don’t scare them away by demanding a decision too early or lose a sale because you never asked for one.

4 Ways to Use a Commission Advance for Realtors

4 Ways to Use a Commission Advance for Realtors

When a real estate commission is factored, it generates a commission advance for realtors that can be used for nearly any business purpose, including expenses that can help a realtor grow their business faster.

How Can a Commission Advance for Realtors Be Used?

1. Real Estate Brokerage Operating Expenses

A commission advance for realtors could free up funds that you need to pay just about any of your business’s expenses:

  • Lease or mortgage
  • Office furniture and supplies
  • Accountant or tax preparer fees
  • Utilities
  • Subscriptions
  • Taxes
  • Computers, equipment and software
  • Unexpected expenses such as the need to make repairs

And more. If you need to unlock working capital to keep your brokerage going and growing, a commission advance can help you bridge a gap or offset a seasonal slowdown.

2. Marketing and Advertising Costs

Some real estate agents hold back on marketing until the market slows down. In reality, when the market is healthy and sales are moving well is the time to be marketing – in anticipation of any future seasonal or cyclical slowdown. This means that whether the market is slow or fast, you should be executing an effective and consistent marketing and advertising strategy that helps you get found online and keeps your brand “top of mind” with prospective buyers and sellers. Expenses that fall into this category could include:

  • Print, digital, TV or radio advertising
  • Building a new website or refreshing your existing site
  • Graphic design (logo, brand colors, ad copy and layout, etc.)
  • Postcards and flyers
  • Targeted paid ads and boosted posts on social media
  • Email marketing
  • Networking and memberships (Chamber, Rotary or similar groups)
  • Vehicle wraps and clings
  • Agency signage
  • Customer appreciation
  • Branded SWAG and gifts
  • Zillow, Trulia and similar paid-listing accounts and ads

Real estate marketing is a smart investment in any economy. It’s the only way to reach new prospects and maintain top of mind awareness in your network, which can make all the difference in being the agent contacted when a buyer is ready to make a move or a seller needs an agent.

3. Professional Expenses

You can use a commission advance for realtors to gain access to the money you need for licensing, insurance, continuing education, exam fees and more. Trade shows and conferences also fall under this heading, as do the travel-related expenses that often accompany them. You can also use a commission advance for realtors to access the money needed for professional memberships, such as membership in the National Association of Realtors, a local or regional association, women or minority associations, and so on.

4. Transportation Costs

The average realtor logs about 3,300 miles a year on their vehicle (National Association of Realtors). Since it’s basically a requirement for doing business as a real estate broker, transportation costs including vehicle purchase, vehicle leasing, repairs, insurance and other expenses may be appropriately funded by a commission advance for realtors, even if the vehicle is also for personal use.

Why Use a Commission Advance for Realtors?

The business of a real estate broker is unique in many ways. People who work for a salary put in their time and are generally compensated with a paycheck every two weeks that is in a predictable, consistent amount. By contrast, realtor commissions that are earned and on the books represent a percentage of the sale amount and could take weeks – or even months – to go from earned income to dispersible funds.

The gap between a signed around purchase and sale agreement and the property’s closing date (which the broker may have little to no control over) can put a financial strain on a real estate brokerage. Bills have to be paid, including payroll. Membership fees come due. Lease payments come back around. Unexpected expenses pop up – the list goes on and on.  A broker may even find that closing and disbursement of funds could even be delayed past the anticipated date, further straining the finances of the real estate business.

Real estate commission factoring is a tool that can alleviate the financial strain on an occasional or even a regular basis. Instead of waiting weeks or months to receive the income you’ve already earned, you can use a commission advance for realtors to access as much as 93 percent of an earned commission right away – without impacting the closing date, and without impacting your buyer or seller at all.

Request information about a commission advance for realtors using the form below or apply online:

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