Does your potential client or present client have commitment issues?
- We have heard it all
- Let me check with my spouse
- Let me sleep on it
- I have to think about it
- Call me next month
You are trying to close and run into this road-block or delay. What can you do to help the client overcome their concern or lack of commitment? After 40 years in the business, let me give you a few ideas and thoughts.
What to do when there is an objection. Well, nothing works better than truth and honesty, but let me give you some techniques.
EMPATHY & UNDERSTADING
You might just agree. That is a choice you have to make. You have empathy for your client and want them to feel good about their decision to choose you or your recommendation. No hard sell here.
But it might be time to make a decision. The market might move fast. The rate lock may expire. Other offers may top yours. The buyer or seller is simply confused by an abundance of information from friends, relatives, social media, general news. For many reasons, you may want to prompt a decision.
DEFINE THE PROBLEM
Your questions may identify the obstacle and also provide a cool down period, giving the client control and comfort. Use those questions in what I call an insurance close.
List the concerns
Acknowledge these are real concerns
Provide sympathy and understanding ( “I have been in our shoes, or I understand”)
Then address the concern
This is not time to sell, but rather time to LISTEN CAREFULLY. You are trying remove obstacles. Ask if you have provided some comfort. If there is comfort, then return to sell.
LET THE CLIENT TALK
You will learn more by listening than by talking
Some clients have no fear and will sign on the dotted line. Some clients have no knowledge and will sign on the dotted line. You want to understand your clients’ level of understanding. While it is harder to deal with an informed client, you will earn the clients’ trust by educating the client so they make an informed decision.
Sell your experience. Perhaps you say, “ I know. This is a big decision. I have been in your shoes. I can tell you when I am with a professional that knows the market and product like I do, I always follow that advice.
PREPARATION TO AVOID
Let them get to know you when you meet. Let them see your character, personality, experience, education, care, integrity. People follow those who they trust and respect.
Educate the customer about the neighborhood, amenities, quality of construction, years of no maintenance based on condition and the market. Discuss the value per square foot, per bedroom.
The Insurance Close
Why do you need insurance?
I need to take care of my family, I have a mortgage to pay and my family needs income for a year
How much to you think you need
Well, insurance provides that, and so on. That is the insurance close.
The insurance close is (1) What to you need and then (2) Insurance provides that
AVOID THE HEAD-ON COLLISION
No. I am not ready. Don’t fight. That is a head on collision. Go in a new direction but use a transition. The transition is simple. “Boy, I have been there. That is a very good point you make”. Then…..ask questions. What are the obstacles? What is the concern? Be careful. It is a start but this could allow the client to dig in deeper so go carefully and slowly. Agree, commiserate. Can you tell me why that is so important to you?
ABE LINCOLN CLOSE
In court, Lincoln would list the other person’s arguments before the other person could. This gave Lincoln the time to reduce the nature of that objection or to provide an answer for it.
BEN FRANKLIN CLOSE
This senior stateman would list the pros and cons. When the pros were greater in value than the cons, he would proceed. So Mr. Franklin was the original list-maker Frankly, (no pun intended), this close is not too much different than the Insurance Close. While insurance closes list your goals, then the salesperson says we achieved your goals. The Franklin close lists the pros and cons. Then the salesperson can say if the Pros are greater than the cons.