Nine Ways To Improve Your Closing Ratio - Part 3

Step 7. The Day Before Closing

Call the closing agent and get the exact amount the buyer will need to bring. Usually a cashier’s check is required and you don’t want this to be a last minute thing that was missed. Call your buyer with the amount and confirm they have the insurance needed to close.

Step 8. Closing Day

If your closing is scheduled in the late afternoon, which is quite common to accommodate your buyer’s work schedule, this could be one of the longest days of your life. Especially if you’re a new investor or you really need the money bad. Just go take a walk and relax. None of these 25 things you’re thinking about will go wrong. Forget the horror stories I just shared with you. They only happen to gurus, not you. The only thing left for you to do is call the closing agent and confirm they have everything they need. Put the keys in your briefcase so you don’t forget them while you’re having your anxiety attack.

Show up at closing, smile a lot, sign where you are told and pick up your check. Once you get that big fat check in your hands, your heart rate will slow and you will be thinking to yourself...that really wasn’t so bad after all. Congratulate your buyer on their wise decision, hand them the keys and thank the closing agent and wait until you get at least 100 yards away before you start screaming...I did it!...I did it!
Now, pick up the phone, call your spouse and tell him/her you’re taking him/her to the finest restaurant in town to celebrate your success. Well, congratulations, you can now call yourself a true blue...Real Estate Entrepreneur. I hereby give you permission to wear that title. But hold on now. We’re not done yet. You have one more step to go.

Step 9. Follow Up

Here’s the step most so-called experts ignore. You’ve made the sale. You’ve gotten your check. Now let’s make sure you’ve got a satisfied customer. Within three days after the closing, send your new buyer a congratulatory letter. In the letter you should ask them to call you with any problems that should occur with the house. Make sure they know how important they are to you and how you are concerned that their move went OK.

Why would you want to do this, you say? It’s simple. You will develop a good image, feel better about your business, and make more money in the process. If you treat your buyer’s right, guess who they will tell about it. Everyone they know. You’ll soon discover that 25%-50% of your new buyers will come from referrals from your old buyers. People just can’t wait to tell the world about good service!
If you really want to get them talking, add this sentence as a P.S. in the letter you send them: P.S. If you refer someone to me who buys one of my houses, I’ll make your next house payment for you!
Well, I hope you enjoyed our journey to the closing table. This information should make that journey a more pleasant one if you use it, and I hope you do. It’s better to suffer the pain of victory than the agony of regret. nn