Closing Isn’t a Thing

There has to be a mantra dedicated to “there’s no such thing as closing.” When deals and agreements are on the table and all partners have agreed to the terms, how exactly do transactions get finalized? Closings sound way too permanent.

In real estate, for example, when both parties meet at the table to discuss the transfer of terms within the negotiated verbiage, is that it? Real estate ‘closings’ are probably on the tips of most people’s tongues when the very mention of ‘closing’ comes to the forefront. Yet, what’s so interesting is there are a plethora of extras not necessarily mentioned within the mounds of paperwork on the table needing to be signed.

A closing has several meanings:

• Sustainable Value
• Moving forward in collaboration
• An outcome
• Long-term future

If we break the above down into their own separate categories, you might discover how closing isn’t really a thing. It’s a means to an outcome, but the finale has to solidify good energy and agreeable terms from both parties.

Sustainable Value

Whatever you’re selling or proposing to have someone agree to, chances are it has to include vast amounts of research, marketability, data-driven facts, and lots of integrity. Most people who come to the table during a closing–of whatever origin–want to hear and see everything.

The selling has already taken place, now it’s time to dig deep and show the “why” of the agreement. This elicits trust in the deal and serves as a gateway to future closings. Professionals know what they bring to the table, the key is to educate and inform the other party exactly how the value is going to be of benefit to them.

Moving Forward In Collaboration

As the pertinent players get closer to their projected outcome, the end result has to be a collaborative effort. Personalities may clash at some point, but overall intention rules. This allows a ‘closing’ to be more of something harmonious, and not solely a strategic and boring event.

Collaboration is the cornerstone of business. Partnerships, connections, networking, and socializing–it all comes together to create a deal. Not everyone has to ultimately get along, but if there’s a strong purpose and mission statement, a closing eventually is a way of life.

An Outcome

Everyone projects highly respectable reasons why an end result needs to happen. At least this is the goal. Having a successful outcome encompasses all of the above and then some.

The outcome is what drives the value. Whenever heads are clashing or wheels are spinning in a variety of directions, it is the outcome that keeps everything in motion. An outcome during a closing sparks curiosity invites audiences to ask questions and even conjures up further ideas that could make the end-goal perhaps better.

Outcomes are the epitome of sales. What is the bottom line of what it is you are selling or hoping to agree to? These are questions that perpetuate a closing to come to fruition. It could be two, three, or four people in agreement–and it could be an entire organization striving for a positive outcome–but whatever the case, once pens are in hand and everyone signs on the dotted line, the outcome of the closing is pretty much sealed.

Long-Term Future

Now that the deal is done, what’s the next step? This is where ‘closing isn’t a thing’ comes into play. With every document signed and every negotiation agreed to, the next step is how the long-term future looks for either party.

Will you be open to doing business again? Is this agreement the end-all to a solution? Are there after-effects of whatever product might need attention? Answering these can’t be too difficult if you’ve invested your heart and soul into your work.

Whatever lies down the road for the business and its potential partners, a closing is merely a significant stamp of approval. From this point forward, there’s more work to do with those involved. It’s tough to sidestep the long-term future of the agreement, mainly because however long it’s taken to get a deal done in a sustainable manner, is however long you’ll need to keep on the track of caring for the outcome.

Closing Is A Process You Invest In

Closing a deal or agreement takes days, months, and sometimes years to reach a handshake. It’s never really over until it’s over. That’s why closing isn’t a thing–it’s more of a crucial step towards the next big thing.

Take heart though, closings are oftentimes endings that lead to new beginnings. And that alone is worth its weight in gold.