With everything you have going on every day, slowing down is probably the last thing on your mind. If you’re like me, you try to get things done quickly, and then move on to the next task, and the next; in fact, it never really ends.
Many Realtors® are focused on processing something just enough to “move it down the line”, that is, get the client’s deal to the next stage. They quickly make phone calls, check on listings, and contact partners. Something you may find counterintuitive, though, is that you can often close deals faster when you slow down. Here’s why.
Moving Slower Takes Your Client’s Emotions Into Account
We deal with so many real estate transactions that we often forget how emotional it is to purchase or sell a home. In fact, the emotions of the transaction are something we view as a hindrance to our efficiency. We try to work around them as quickly as possible.
Unfortunately, this kind of speed is counterproductive. When we push on a deal and sidestep the emotions involved, we pressure our clients and can end up with clients backing out of deals, deciding not to sell their homes, or just looking and looking at listings without ever committing to buy.
Instead, close the deal more quickly by slowing down. Talk to your clients about their emotions, let them know they are heard, and don’t push faster than they are willing to go. When you really acknowledge the emotion, you’ll close the deal faster – or, you’ll find out more quickly that they aren’t ready. Either way, you save time and energy.
Moving Slower Helps Catch Details
One transaction fades into the next, and it’s easy to miss small things about a deal. As you probably already know, the small things quickly become big things when you’re scrambling to find an inspector by the inspection due date or suddenly looking for an alternate lender when your buyer failed to qualify.
Moving quickly can mean that we speed past and ignore – or don’t even hear – important red flags when interviewing clients. Juggling too many balls at once means dates fall through the cracks, or you don’t notice a key change in your buyer’s demeanor when discussing their upcoming offer. Missing these details can derail a deal, meaning your time and energy were wasted.
Instead, move slowly enough to keep all the key details in order. Make sure you pay attention to non-verbal cues when interviewing new clients or meeting with existing buyers and sellers. Notice when things aren’t right, and move slowly enough to feel the gut instinct telling you which path to take in a deal. You’ll close more deals and have far less stress in the process.
Moving Slower Avoids Last Minute Derailments
Obviously we can’t avoid every last-minute derailment, but we can prevent some. When we’re moving extremely quickly, we might overlook someone who needs to be involved in the process. Are you so eager to show homes that you convince the husband to see listings before his wife gets back in town? Do you assure the couple who’s selling that their involved mother will love you – even if she hasn’t met you?
When you’re moving too fast, you often try to smooth over cracks and bumps in the process that actually need attention. Unfortunately, those smoothed-over areas can come back to bite you. You’ve probably had it happen – the wife wants to re-see all the listings when she arrives in town, the mother wants the listing to go to another Realtor®, or an “I’m sure it’s fine” crack turns out to be a major issue at inspection.
Instead, move slowly enough to notice and fully investigate the bumps in the road. Wait until the wife is in town – it’ll save you time in the long run. Wait to do your listing presentation until the involved mother can arrive. Make allowances for that small crack to be a big deal. You’ll thank yourself when your deals go more smoothly and derail less often.