Course Process
The Real Estate Sales Process
Regulations and human interactions have made the real estate sales process complicated and tedious. I designed this chapter to help give you an insight to the steps involved and what to expect in each phase.
One important aspect to consider is that each transaction is unique. Even with the same property, offers are unique and buyers have different needs.
From a seller’s point of view, the goal is to receive the check or wire transfer of funds with the least amount of hassle. But there are many times during a transaction where a seller could lose the deal.
Let’s take some time to review each step.
The Emotional Sales Process
Every human is unique; this includes their sense of style, expectations, needs and financial situation. The emotional sales process goes beyond the nuances and simplifies the process from getting a qualified lead to closing a transaction.
Before we discuss the specifics of a real estate sale, we need to touch on the emotional side of selling. After all, every sale is just a series of emotions that cause a person to agree to terms and take actions to purchase.
Depending on the nature of the property you are selling, the particulars of the sales process differ. Generally, these are the steps most sales go through:
- Awareness
To get the sales process started, first you need to make potential customers aware of your existence and offer them information on the property.
Other ways to reach out can be through social media marketing, email marketing, cold calling, attending events, advertising and word of mouth.
Rapport
Building friendships with prospects can make them more receptive to what you have to say. Reach them in a way that is more comfortable and non-aggressive. Understand their needs, what they like about the property and discuss how to make this purchase a win-win.
Educate! Educate! Educate!
Give them information and ideas, which will convince them of the value of your property, why they need it and how to purchase it.
- Trust
To convert prospects into paying customers, you need to develop a deep connection of trust with that person. They need to feel that the decision is in their best interest and they will get what is promised. This can be done in a rather short period of time and is a skill that can be learned and improved.
Trust goes beyond just believing in the property itself; there are actually three aspects to building trust in the sale:
- Trust in the property
- Trust in the process
- Trust in you
Make sure you are making the prospect feel comfortable with the decision to purchase. This goes back to educating them on the benefits buying the property will have for them. Why they should purchase the property and why they should purchase it from you.
This goes beyond being friendly to an interested party. It’s about connecting with them on an emotional level. This is only achieved by keeping your word and delivering on your promises. Do that over time and you will be trusted and successful.
- Evaluation
Purchases are not always made instantly, which is why prospects will take their time in making their final decision. It is best to back off and give them the time and options to help facilitate their decision.
Giving prospects free samples or trials can help them evaluate the property and influence them in the right direction. Have flyers and even blueprints for them to take home. This helps with their decision to submit a great offer.
