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Use deadlines and incentives
2
Highlight the benefits and risks
3
Use social proof and testimonials
4
Ask open-ended questions and listen
Be the first to add your personal experience
5
Follow up and follow through
6
Here’s what else to consider
Creating a sense of urgency in real estate negotiations can help you close deals faster, get better terms, and avoid losing opportunities to competitors. However, you need to use the right techniques to avoid sounding desperate, pushy, or dishonest. In this article, you will learn some effective ways to create urgency in your interactions with tenants and buyers, whether you are selling, leasing, or developing properties.
Key takeaways from this article
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Set deadlines and offer incentives:
Clear deadlines paired with appealing incentives create a win-win scenario. You move properties quicker, and your clients feel like they're getting a special deal for acting fast.
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Be an active listener:
By asking open-ended questions and tuning into your client's responses, you can tailor your approach, addressing their specific needs and concerns, nudging them gently towards making a decision.
This summary is powered by AI and these experts
- Gustavo Rosal Infrastructure Manager | Real Estate…
- Mike Canning Associate Broker at Compass
1 Use deadlines and incentives
One of the simplest ways to create urgency is to set clear deadlines and offer incentives for meeting them. For example, you can offer a discount, a bonus, or a free upgrade if the tenant or buyer signs the contract by a certain date. You can also create a sense of scarcity by informing them that there are other interested parties or limited inventory. However, you need to be realistic and consistent with your deadlines and incentives, and avoid extending or changing them too often, as this can reduce your credibility and trustworthiness.
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Prepare and know your facts, know the persona type of the individual with whom you are dealing, anticipate objections, try to come in with leverage, and be willing to make reasonable compromises.
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Like Celebrate Support Love Insightful Funny 1 - Ivan Urizar Key Account Manager en Playclub
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Es imposible generar sentido de urgencia si no conoces a detalle las necesidades del cliente y más importante el motivo de compra. Establece una negociación clara entre los beneficios que obtendrá y como puede tomarlos a su favor, ofrece siempre ayuda en todas sus dudas y no desanimarse ante las objeciones, mejor anticípate a ellas. Si el cliente esta preparado para comprar se podrá generar sentido de urgencia, en caso de no estarlo es inútil, no comprará . Saber diferenciar eso te ahorrará negociaciones sin sentido y perder el tiempo.
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One thing I have always found helpful is knowing my clients why? Why are they selling or why are they buying. Understand their pain. Are they selling to relocate, downsize because children have moved out and now, they are empty nesters who don't need that 4 bedroom home anymore with all the expenses that come with owning a large home. Is their family growing and they just don't have the room in their home anymore for their expanding family; grandparents moving to be closer to their grandchildren. Understanding and delving into the reason why they decided to sell or buy and reminding them of this exact reason.
Like Like Celebrate Support Love Insightful Funny - Steve Sicard SRES® REALTOR® at Right At Home Realty, Brokerage. Ottawa, ON
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First I will say, I am not sure I would use the word techniques. I will also say that there has to be a real urgency, not a falsely created one.Knowing your market and the clients you are helping is the most important. Then communication is key. If you know a home that just came on the market is what a client really wants, then using market information, let them know about the likelihood it will be gone if they don't act quickly. Then it is up to them.When representing a client who is selling, when showings are booked and you see there is interest, let the agents all know that there are multiple showings booked and that their client may miss out if they don't make an offer they may lose the home they really want.
Like Like Celebrate Support Love Insightful Funny - Carlos. J Fernandez Darias Director at C.C. Alisios - Gran Canaria
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Create urgency in real estate negotiations by emphasizing market dynamics. Highlight limited availability or high demand for properties. Set clear timelines for offers and counteroffers. Utilize time-sensitive incentives, such as exclusive deals or reduced prices for quick decisions. Emphasize potential market changes affecting property value. Showcase competitive interest to prompt faster decision-making. Communicate the benefits of acting promptly, such as securing a desirable property. Maintain proactive communication to convey a sense of momentum. Encourage decision-making with a deadline, driving a sense of urgency for both parties involved.
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2 Highlight the benefits and risks
Another way to create urgency is to emphasize the benefits and risks of the deal for the tenant or buyer. For example, you can highlight the positive features and advantages of your property, such as its location, amenities, design, or potential returns. You can also point out the negative consequences and costs of delaying or missing the deal, such as rising interest rates, market fluctuations, or missed opportunities. However, you need to be factual and respectful, and avoid exaggerating or manipulating the facts, as this can backfire and damage your reputation.
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- Esaú Ruiz
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Un cliente que ha recorrido muchas propiedades y aún no encuentra lo que necesita puede que esté más preparado para tomar una decisión. Ya está ubicado, en cuanto a los mejores tratos que puede obtener por el dinero que va a invertir. En el otro, también ubica las propiedades que le son ideales pero que están fuera de su alcance. En este punto de madurez, saber indagar exhaustivamente sus necesidades nos dará la posibilidad de promover nuestra oferta. No se trata de empujar la propiedad, sino de señalar las características que solucionan las necesidades del cliente, y dejar que las constante en el recorrido y la charla por la propiedad. Finamente se trata de confrontar con lo que se perdería si dejan pasar esta oportunidad en particular.
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Like Like Celebrate Support Love Insightful Funny - Mike Canning Associate Broker at Compass
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Preparation is key. When possible, have a one on one session with your buyers to discuss the entire process. Try to stick to an hour, focusing on financing, the state of the market, the offer writing process, the importance of good inspections, negotiation strategies and a reasonable timeline.
Like Like Celebrate Support Love Insightful Funny - Gustavo Rosal Infrastructure Manager | Real Estate Development Manager | Engineering Manager | Real Estate Construction Manager | Director of Construction and Infrastructure
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Demonstrar os riscos de perder uma oferta é muito usual e talvez até mais convincente que os benefícios, as pessoas normalmente se importam mais em perder do que em não ganhar. É importante também ter argumentos para contrapor os pontos negativos do empreendimento que possam ser apontados pelo cliente e esses precisam ser os argumentos mais fortes.
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3 Use social proof and testimonials
A third way to create urgency is to use social proof and testimonials to show the tenant or buyer that your property is in high demand and has satisfied customers. For example, you can share statistics, reviews, ratings, or referrals from previous or current tenants or buyers who have enjoyed your property or service. You can also showcase your awards, certifications, or recognitions from reputable sources or organizations. However, you need to be authentic and relevant, and avoid using fake or outdated social proof or testimonials, as this can be easily exposed and harm your credibility.
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I cannot express enough how much influence social media can have on the follower base a person/company has. By posting active construction sites, current building stages, etc not only does it show the current growth, but allows to create a warm introduction with future investors.
Like Like Celebrate Support Love Insightful Funny 1 - Gustavo Rosal Infrastructure Manager | Real Estate Development Manager | Engineering Manager | Real Estate Construction Manager | Director of Construction and Infrastructure
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Provas sociais são importantes, principalmente se vierem de figuras sociais relevantes e de formadores de opinião. Usar figuras públicas só é relevante se o público alvo for simpatizante a figura utilizada, então essa precisa ser uma seleção minuciosa e não aleatória.
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I cannot express enough how much influence social media can have on the follower base a person/company has. By posting active construction sites, current building stages, etc not only does it show the current growth, but allows to create a warm introduction with future investors.
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4 Ask open-ended questions and listen
A fourth way to create urgency is to ask open-ended questions and listen to the tenant or buyer's needs, goals, preferences, and concerns. For example, you can ask them what they are looking for in a property, what their timeline and budget are, what their main challenges or objections are, and how they make their decisions. By listening carefully, you can understand their situation and motivation, and tailor your offer and communication accordingly. You can also use your questions to guide them towards taking action, by asking them what they think of your property, what they need to move forward, and what their next steps are.
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5 Follow up and follow through
A fifth way to create urgency is to follow up and follow through with the tenant or buyer throughout the negotiation process. For example, you can send them reminders, updates, confirmations, or thank-you notes at regular intervals, and keep them informed of any changes or developments. You can also demonstrate your professionalism, reliability, and value by delivering on your promises, meeting your deadlines, and providing excellent service. By following up and following through, you can build rapport and trust, and keep the tenant or buyer engaged and interested until the deal is closed.
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- Gustavo Rosal Infrastructure Manager | Real Estate Development Manager | Engineering Manager | Real Estate Construction Manager | Director of Construction and Infrastructure
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Fazer o follow up do contato com o cliente é importante até depois da aquisição, transmite confiabilidade e pode garantir o cliente para outros momentos e oportunidades.
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6 Here’s what else to consider
This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?
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- Mike Canning Associate Broker at Compass
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By the time a buyer reaches out, they are already inclined to buy. The primary two reasons they won’t follow through is that they either do not qualify, or they get overwhelmed by uncertainty. You can address both. If they don’t qualify to buy, help them develop a financial game plan and stay in touch! If they are overwhelmed, slow down, take the time to help them understand that all concerns can be addressed one at a time.
Like Like Celebrate Support Love Insightful Funny 1 - Gustavo Rosal Infrastructure Manager | Real Estate Development Manager | Engineering Manager | Real Estate Construction Manager | Director of Construction and Infrastructure
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Normalmente uma compra é determinada pelo comprador, mas uma venda é definida pelo vendedor. Conhecer o cliente, ouvir as necessidades, adaptar o que você tem ao que ele precisa fará uma venda ser concretizada. Em um mercado popular é importante saber que o valor provavelmente será um grande determinante, talvez o maior, e muitas vezes o valor da parcela e não o total do imóvel. Para um mercado de alto padrão o valor não importa muito e sim os benefícios que o imóvel trará para a vida do morador.
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