I’m not sure if I got the title grammatically correct, but the idea of this post is to find out if you, the professional salesperson, or your prospect/client is doing the selling on your incoming/outgoing calls, door knocks, open houses, showing and listing presentations, offer presentations and negotiations.
Do you find yourself answering a lot of questions and justifying your, or your company’s track record?
Do you find that your prospects are ending the conversation before you can set an appointment?
Are you content to let a listing prospect hang up when they say they’re going to wait for the market to get better, re-list with the same agent, or they already have an agent in mind?
Do you find yourself mostly talking to dial tones instead of finishing conversations with buyer call-ins, because they just wanted the price, are say they’re already working with another agent, rather than setting an appointment with you?
If you host open houses, do you run into people who don’t sign in, or ask you tons and tons of questions about the house, then tell you they’re already working with an agent. Or when you call them to follow up, they don’t respond?
Do you find your listing presentation is mostly answering their questions and handling objections (usually about commission)?
Do you have a lot of listing appointments that end in “we want to think about it?”
Appointments – Buyers
Are you taking your buyers to what seems like virtually every house on the market in their price range?
Are you taking buyers to homes that are above the price range they originally told you they wanted?
Are your buyers making you take them to homes that don’t fit what they say they wanted…maybe just because they “want to rule it out”?
Are your buyers making very low ball offers?
If your market has it, are you afraid to ask your buyers to sign a Buyer Broker Agreement?
Do you work with buyers who haven’t yet gotten pre-qualified by a local lender?
Do you let what other agents tell you about their clients and offers/counter offers affect how you present to your clients?
Do you let your client do exactly what they want, even though calling the other agent back in 30 seconds, not countering, or telling the other party to go pound sand might actually hurt the deal?
All these questions are a checklist, if you will, to size up who is doing the selling…you, or the other party. If you answered “yes” to even a quarter of those questions, unfortunately, you’re the one being sold to.
3 basic tips on how to avoid being sold to –
1. Always, always, always ask questions. Asking questions is tantamount to selling. I would go so far as to say you could consider answering a question with a question. Regardless, after validating what the other party asked or said, your default response in all interactions should be to ask another question.
Ask questions about what they’re looking to do, how soon they want to do it, why they want to do it. Anything to find out their motivation and how you can best help them.
If you’re answering a lot of questions, and not asking a lot of them, the other party is in control of the conversation and selling you.
2. Know and believe in the stats. I’m not saying you should spout of statistics every chance you get, however if a potential seller asks how you/your company is any different from their last agent, it would be helpful to know that 70% of the listings on the market don’t sell, yet you sell 60% of yours. Or, it might help to know that your listings sell 30 days faster, on average, than the average listing in the market…or for 3% more money than the average listing gets (list to sale price ratio).
Stats go a long way when, for example, a For Sale By Owner gives you an objection, and you know that no matter what they think, the actual empirical data shows they will a) most likely not sell their home and, b) get 15-27% less than if they sold with an agent…if they actually do sell.
3. Get, read, learn, practice and memorize scripts and objection handlers. Part of the reason the average agent only sells about 4 homes in a good market year is because so many get caught off guard. They wing their prospecting and presentations, and don’t know what to say when someone has a question or objection.
If you haven’t already done so, get to our products page by clicking here so you can get Now What Do I Say?, our collection of over 425 objection handlers for nearly 75 different objections. It’s in book and audio book form, and we also have a live role play CD to help you master objection handlers.
Just remember, you’re the professional salesperson. Don’t be sold to.