The Art of Closing: Turning Market Appraisals into Successful Sales in Estate Agency

In the estate agency world, there's a fundamental skill that many estate agents struggle with, despite it being intrinsic to their career. Picture this: you've spent days leaflet-dropping in the rain, and finally, your phone pings. A lead from one of your leaflets—fantastic! You check the property online and see it's a good one, something you can sell quickly, in an area that suits your clientele. You call the homeowner, have a great conversation, and book a market appraisal for the weekend. You even hand-deliver a pre-market appraisal letter, confirming your appointment once more with the owner. You spend an hour preparing, researching the property, printing necessary documents.

The day of the appointment arrives. You park outside, reviewing property comparables before knocking on the door. Over the next hour, you impress the homeowner with your presentation, demonstrating why you're the perfect person to sell their home. The homeowner nods, seemingly agreeing with everything you say. Then you conclude, “Thank you for having me out today. You have my number, so when you decide to sell, give me a call, and I’ll take it onto the market.” What just happened? You were on the brink of securing the business but missed the opportunity by not closing the deal.

This scenario might seem unlikely, but it happens in estate agency offices across the country daily. Agents do all the hard work but fail to close the deal. The critical question is, why? Why do agents, after doing all the upfront hard work, not close for the business? It's not a matter of psychology expertise, but an understanding of human nature—people dislike rejection. Agents avoid situations where they might hear "no" because rejection stings both professionally and personally.

However, to elevate your business to desired levels, closing for the business is essential. We'll explore various methods, but it’s crucial to understand that asking for the business doesn’t need to be complex. Simply asking, “Shall we get you on the market then?” can yield better results than saying nothing and leaving without securing future business.

Here’s a personal trick I use to push myself to ask for the business: envision a future where your business isn’t doing well, and you're closing the doors for the last time, explaining to your loved ones that it didn’t work out. Imagine how tough that conversation would be. Now, you have two options: ask for the business at this appointment or face that difficult conversation with your family. Which is easier?

Hopefully, you realise that asking a stranger if they want to sell their home with you is much easier than telling your loved ones your business failed. This perspective highlights the importance of closing for the business during market appraisals. You don't need to be the best property valuer or have an impressive manner with homeowners. Asking for the business gives you an edge over those who don’t. It's about overcoming personal barriers—often, the fear of asking is bigger in your head than for the person you're asking.

Sometimes, sellers want to instruct you but don't know the next steps and don’t want to look foolish by saying the wrong thing. They might be selling their home for the first time, while you've sold multiple properties this month. Who knows the next steps better? Guide them through the process.

Let’s examine different closing techniques to find ones that suit your style. The simplest method is a direct close, asking a question with a yes or no answer. While a crude version might be, “Do you want to instruct me to sell your home?”, we can soften it, making it more conversational, like, “Shall we get your property on the market ready for the weekend?” These softer versions achieve the same result.

Linking your close to earlier conversations helps make the process smoother. If you’ve mentioned most viewing requests come through on a Monday, you might say, “Shall we get your property listed by the weekend so we can capture those Monday enquiries?” This ties back to earlier discussions, pushing the conversation towards your desired outcome.

Next, let’s look at the assumptive close. This approach requires confidence, as you assume the homeowner wants to sell with you. Explain the next steps without asking, like, “Okay, I’ll grab my camera from the car, and we’ll get your property listed by tomorrow.” This approach projects confidence and assumes a positive outcome.

If the assumptive close seems too bold, consider the alternative close. This method offers two options, both leading to a favourable outcome. For example, “Shall we book the photographer for Tuesday or Thursday?” Either choice works for you, as it leads to securing the listing. Another example could be, “Would you like to list for offers over £240,000 or at an asking price of £250,000?” Both options result in you getting the business.

The carrot and stick close combines offering a reward (the carrot) or highlighting a negative outcome (the stick). For instance, the carrot might be, “Sign up today, and we’ll include a premium listing.” The stick could be, “Most bungalows come on the market in January, so you’ll miss out if you wait until February.” Combining both aspects can be highly effective.

Lastly, the cautionary tale close uses previous client experiences to persuade current clients. For example, “I had a client in a similar situation who waited to sell, and they missed out on three perfect properties.” This method leverages real-world examples to illustrate potential negative outcomes of not acting promptly.

Closing for the business involves numerous techniques, each suited to different personal styles. Whether you prefer direct, assumptive, alternative, carrot and stick, or cautionary tale closes, the key is to ask. By asking, you eliminate leaving success to chance. Homeowners invite you for a reason—they likely want to sell. By asking for their business, you stand to gain significantly more than you risk losing.