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Tips on Closing a Real Estate Deal, by real estate developer Adam Hochfelder

06 September 2017

Real estate is a competitive business. The goal of real estate investing isn’t to see how many offers you can get, but rather how many deals you can close. Adam Hochfelder, a prosperous NYC-based real estate executive, says the key to any successful business is maximizing time and efficiency. 

There’s no denying that closing a deal is one of the biggest challenges of real estate. However, nowadays some agents are trained to deal only with the paperwork and don’t know how to actually sell. But, at the end of the day, selling is what real estate is all about. Without this skill, there’s no money to be made and no paperwork to be done.

In today’s competitive market, there is no room for sales obstacles. When it comes to making a sale, real estate agents need to be natural. In this article, Adam shares some valuable tips based on years of his own experience.

First and foremost, it doesn’t really matter if you’re selling a mansion or a one room apartment because they’re all sales, and they all need careful handling. As a real estate investor, he has closed hundreds of real estate transactions over the course of his career. So let’s take a look at some of Mr. Hochfelder’s sales tips.

First and foremost you must believe in yourself. Confidence is key to any business. If you’re confident in your skills, if you believe in yourself and you believe in the deal, it will happen. It is important that you show your confidence throughout the whole process, starting from the first meeting, all the way to signing of the contract. If you’re feeling optimistic and enthusiastic, that energy will transfer to your clients. In order to be a good agent you need to believe in yourself and your ability to find, negotiate, and complete deals.

Another distinctive aspect of closing a sale is knowing to keep things simple. There’s no need to bombard clients with overwhelming information, facts, figures, or anything else that doesn’t actually impacts their decision-making. Throughout his long, fruitful career, Hochfelder has learned that the best thing to do is to treat clients the way you would want to be treated. That means establishing a straightforward and direct relationship. If the client is interested and wants to move forward, then it’s time to provide additional information and help the client with the decision making process.

Last but not least, you must listen. There’s no point in trying to sell a property your clients really aren’t interested in. Don’t waste your time pushing for a deal that is never going to happen. Instead, learn to listen carefully to what your clients want, and then work hard to get that. The best way to increase your knowledge of their specific requirements, and prove that you’re conscientious, hard-working real estate agent, is to ask questions.

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Rossie Wang is a former Real Estate agent turned to analyst and blogger. In her honest personal opinion, London - and not New York is the first stop for the richest people in the world, looking it from the real estate lens.

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