The Best Call of the Day: Optimizing Opportunity at the Closing Table
Showcase your firm’s strengths at the closing table.
Many title agents spend money and time on marketing and sales efforts to increase directable business. While most campaigns are effective, and certainly essential, one of the best opportunities to showcase your firm’s strengths is at the closing table.
A well thought-out and unique closing table strategy will result in increased referral business, and will cost half of traditional marketing plans. A well thought-out closing table strategy looks like this:
- Target referral sources who attend closings at your office.
- Showcase your firm’s customer service and competency.
- Follow up with collateral materials and a call to action.
As real estate professionals, we value a well-planned and executed marketing campaign, directed at realtors, loan officers and future clients. Typically, this includes direct mail, targeted email, web presence, social media and office visits.
All of these methods have varying degrees of cost, both in dollars and time. Everyone would agree that they are essential to building and maintaining a business.
The closing table, however, is a hotbed of opportunity that is, unfortunately, often ignored. A number of factors that make this situation unique include:
- All parties can be scheduled and will attend;
- Traditional referral sources are there;
- As a closing agent, you control the pace, flow, and agenda of the time you spend together.
As the closing approaches, since your office will schedule, you will be aware of who will be attending. With that information, you can tailor your approach to fit the needs of each. Your approach should be a systematic and repeatable part of your processes.
The buyer’s agent is most likely your referral source. You should acknowledge their competence and professionalism, in the presence of their clients, the buyers, and be sure to thank them with a small, parting gift, in full view of the seller’s agent.
The seller’s agent is your primary target. An informational packet should be prepared with contact information, pricing and an order form. Also, testimonials are always helpful if they can be obtained. It can be useful to acknowledge them in the presence of the parties, and thank them for their help in facilitating the closing. Be sure to obtain a business card and information on their office which could be helpful in future marketing opportunities. Finally, it is always appropriate to ask for their future business in person.
The mortgage broker, if present, and not familiar to you, should have their own take-away packet, containing similar information to the seller’s agent, as well as a document outlining their firm’s experience in handling various types of loans other than residential. An acknowledgement of their professionalism and assistance in putting together the transaction is essential.
Sellers should be given a branded packet with all their documents, containing all you contact information and some swag such as pens, highlighters or pads. Do not overlook this important contact. They are a potential future client. At some point later in the year, they will be looking for copies of various documents which they have lost. Their ability to contact you and obtain these documents will cement your relationship, and make it more likely they will call on you for their real estate needs in the future.
Finally, remember that you, as the closing agent, are on stage. Whatever you project at this closing, will make or break your ability to obtain future business from the parties. You should be affable, available, and project quiet confidence. This is important at what can be the most stressful experience in a consumer’s lifetime.
At the closing table, by targeting referral sources, showcasing your abilities, and having collateral materials prepared ahead of time, you will be able to take advantage of a unique and valuable marketing opportunity.