Top tips how to close an offer

As a real estate agent it is your job to generating and then close an offer. 

Your enquiry has made an offer and you are now closer to raising that invoice for your commission. But before you jump the gun, you need to make sure that you negotiate for both parties in order to close the deal. Do this by following these steps:

1. Don’t ever stop communicating.

If you have an inkling that your enquiry may offer then it is best to let your client know even if you have not received a firm offer. This is particularly important if the property is listed with multiple agents as you don’t want them accepting another offer ahead of yours. This will also give you a chance to let your lead know if the owner/landlord has any other interest in the property to speed them up with putting forward a formal offer. This is also the opportunity to prep your owner/landlord if you think that the offer may come in lower than asking price or subject to conditions. It will give them time to mull over the situation and get used to the idea that they may not achieve full asking price.

2. Be aware of the current state of the market.

By relay to both parties the current market, it will help them to make a decision on how to proceed. If your enquiry is wanting to offer significantly below the asking price but there are other people lined up to see the property, advise them that it is unlikely that the owner will accept a lower offer. Remember this works both ways.

3. Provide comparable evidence.

By providing proof of previous transactions neither party will be in a position to disagree. Check to see if any other properties in the same building or closeby have sold recently and provide this evidence to both the seller and the purchaser. This ensures that people remain realistic with their expectations.

4. Do some sums.

A lower offer can be attractive for a fast moving date if the owner is paying out for a loan on the property each month. Quickly do some sums to present the different options to both parties in order to help them both make a decision on their next move.