Tips to Close More Deals for Dubai Real Estate Brokers.
There are two types of closers when it comes to closing a deal:
- Those who wait for a decision
- Those who ask for a decision
The majority, especially new Brokers, wait for the client to say, “Yes, I like it, and here is the cheque.” On the other hand, successful Brokers ask questions, handle objections, and help them make that decision. Here are some tips to help you join the successful Brokers from the very beginning of your journey.
1) Understand the meaning of closing
On the surface, closing is the moment when a prospect/client decides to buy or rent from you, but beneath that process, closing is your ability to help them make the decision.
Remember, very few clients/prospects will take a decision by themselves. Buying a property is a big step. For most, the process of buying can be overwhelming, confusing, and as a result, they are indecisive. Especially for first-time buyers, it is not an easy decision, and they need help.
If you wait like the majority to hear a yes without putting in the effort, it will probably take some time, result in more viewings, or never happen through you. Your job is to replace their doubts and fears with confidence.
2) Ask questions, listen and handle objections
People usually know what they want in a property, but they are often doubtful. Even though they know this is what they are looking for, fear of making a wrong decision could hold them back. Especially if there are so many choices out there, or they are not convinced that they are getting it at a good price.
If you have done a good job from the beginning by building trust and confidence, closing becomes easy, and when they like a property, all you will have left to do is ask for an offer and a deposit cheque to secure the offer. However, if they like the property but are still indecisive, it is now time to work on objections.
You can help only if you know what’s holding them back and the only way to find out is by asking questions. The main question is, Do they like the property? – Possible answers are:
“YES, but….” Great, you got a positive response but with a problem that needs solving. Ask them if you solve the “but” would they go ahead? Find out what else is holding them back. If you would fix those points, would they be able to make the decision?
Think like them and put yourself in their place. If the issue is the price, get a written offer with a security cheque. You are helping the owner sell, dont waste the owner’s time with verbal offers, which are likely to be withdrawn anyway.
“NO” Great, a NO is a learning opportunity! Find out what they don’t like?; Is it the cost, property condition, the property view, positioning, or furnishings perhaps?
What if the thing that they dont like could be change?; like furniture, condition or price, etc. Answers could help you improve the property listing by communicating the feedback to the owner.
Also, you can learn further about their likes and dislikes and practice your negotiation skills. If the problem is unfixable, move on to the next house.
3) Explain the process
Whether you are dealing with buyers or tenants, seasonal investors or first-time buyers, no matter who your clients are, don’t assume they know.
Your job is to explain and walk them through the process in detail with confidence. Confidence comes with knowledge, and it is an energy that transfers to your clients.
The basic steps are as follows;
- The clients must provide a security deposit cheque of 10% written out to the Owner’s Name, which is usually secured with the Brokerage office until the transfer day. Along with the cheque, you need to receive a passport and visa copy. Ensure to have the correct address, email, and mobile number to be used for From F (MOU).
- Draft the Form F MOU on REST App or Trakheesi.
- Get it Signed by Both Parties.
- Assist the seller has to apply for NOC.
- Assist the buyer in preparing Manager’s cheque for 100% of the price (10% Security deposit will be returned on transfer)
- Once NOC and Cheques are ready, book a transfer appointment with the Trustee’s office. (If it is a Mortgage deal and a bank is involved, the appointment is often booked by the bank representative.)
- Send a written reminder in advance and call both parties with an appointment time and required docs and fees to bring along.
- Use Zaroof’s Transfer Checklist to list all details and fees, and you can also present it to your clients with your information.
For other types of Sale Transaction process guides, go to the Deal Processes page.
- The client must give a security deposit cheque of 5% written out to the Owner’s Name (if the property is furnished or in case of commercial properties, owners might ask 10%). Along with the cheque, get the tenant’s passport and residence visa copy (Reminder: by law, you cant rent a property without a residence visa). Ensure to have the correct email address and mobile number of the tenant to be used for the Tenancy agreement.
- Draft the contract and let the tenant sign first.
- Get the owner to sign after the tenant.
- Get the tenant’s rent cheques, and only after having the correct cheques hand over the original contract to the tenant.
- Handover the keys.
- Guide them through the DEWA and EJARI process.
- Inform if the building has any moving-in guidelines.
We are here to help you with every step of the process, so continue reading. You will find some answers in other New Brokers Training lessons. If you can’t find the answer you are looking for, Ask HERE.