15 Day Challenge

Lesson 15: Closing & Congrats!

Tasks

  • No tasks for this challenge

Reminders:

  • Use The Perfect Close. This simple closing process can be used in various situations. All you need to do is suggest a next step.

    • Suggest a next step:

    • “Based on our conversation, I would suggest we (next step) so that (result).”

    • If they decline: Suggest another option by downgrading the ask

    • If they decline again: “Ok, what’s a good next step for you.”

 
 

Places We Can Hang 🤙

Video Transcript

0:00 Hello, and welcome back to your 15 day challenge. My name is Michael Montgomery, and you have made it to day 15.

0:07 Congratulations. Great work so far. Today what we're going to discuss is kind of the final topic, which is closing. And the topic of closing a client is an interesting one.

0:18 It's an interesting one because if you start to look up different strategies, there's all sorts of kind of sneaky strategies, and the concept behind trying to back somebody into a corner so that they have to answer to me is not the right approach.

0:32 Instead, we need to come from a place of suggestion, and that is what works amazingly in real estate. So the structure that we use is called the Perfect Close.

0:42 And in fact, there's a whole book written about this exact concept, and the book is based on data. So the author went through a number of different tests with all sorts of different closing strategies, and then accumulated the data and determined which strategy works best, and the result became the perfect close.

1:00 So this is how it works. All you're going to say as a closing technique is this. Based on our conversation, what I suggest is next step.

1:10 So that results. So based on our conversation today, what I suggest our next step is, is going out and looking at homes so that we can get a feel for what properties are like on the inside.

1:21 Based on our conversation today, I suggest our next step is starting to work through the listing agreement so that you have a full understanding of how the listing process works.

1:32 So that framework can work in so many different ways, and oftentimes when we think of closing, we think of getting somebody to the closing table when in fact we can be closing people throughout the whole process.

1:42 The whole process is just simply moving a person one step to the next, and each time we move them from one step to the next, we close them.

1:50 So when the lead registers, we close them on a buyer meeting. After the buyer meeting, we close them on going out on tours.

1:56 After a number of tours, we close them when it comes to actually writing an offer. But when we use this phrasing of closing them, it kind of makes us feel like we're backing them into the corner, when in fact, all we're doing with this strategy is suggesting a next step.

2:07 So based on our conversation, or based on where you're at, I suggest the next step is X. So that result.

2:15 Now here's the thing is sometimes they're going to decline. So if you suggest the next step is going out and looking at homes and they decline, then what we do is called downgrade the ask.

2:26 So we downgrade the ask. So instead of going and looking at homes, what if we set you up on an automated email search so that you're able to start receiving properties?

2:34 So we've made the ask easier to say yes to. So our next step is downgrading the ask. Now, if they say no to that again, then our final question is very simple.

2:44 We just simply ask them, what is the best next step for you? So to recap, we start with, based on our conversation or based on where you're at, the suggested next step is X.

2:55 So that result, if they decline, we downgrade the ask and Make, make it easier. If they decline again, we simply say to them, what would be the best next step for you then?

3:05 So there's no task today, but what I would highly recommend is in your next conversation. So this can be a lead, this can be a buyer, this can be a seller, this can be somebody at open house.

3:14 Try to integrate the perfect close, because it's not about just closing them and getting 'em to sign on the dot line with this technique, although that does work.

3:22 Instead, we need to think of closing as moving somebody through a process. And with that, congratulations, we have made it through our 15 day challenge.

3:30 Now, a couple of important things. First off, we need to understand that a lot of these tasks need to be done on a regular basis.

3:37 For example, the text two s, we can't just do that once and then be done. Text two s one card should be done every single working day.

3:44 Same thing with taking time off. That's not just one week, that's every single week, 30 minute social, same concept. So a lot of these things we need to be doing on a regular basis.

3:54 However, if you just do what is in these 15 days, you are going to sell a lot of real estate.

4:01 Very, very simple structures here that can go a very long way in your business. Thank you very much for attending this 15 day challenge.

4:09 You can reach out to me anytime at Rev Real Estate School, or I'm on Instagram at the dot, Michael dot Montgomery.

4:14 Thanks again and thank you for attending this challenge.