No matter who you are in business, you want to be better. Whether it is being a better team member, owner, manager or better sales person. Specifically in sales, one comment you hate to hear from someone is, “Let me think it over.” While real estate is a highly involved decision making process, today’s buyers are more educated and aware of what they want, what’s available and what they can afford than ever. This means that we coach our team to be more prepared than ever to close more deals. But saying is easier than doing sometimes.
This week, we are headed to the national REALTOR convention in Boston to find out how we can improve our business with some tricks from companies like ours from around they country. So, in the spirit of Halloween, we wanted to share with you 4 simple tricks that can help you close more sales and eliminate the frustrations that come with people who just can’t quite commit to deal.
1. Preparation Is Next To Godliness
Usually this is cleanliness but, for sales people, it is preparation. Many people think that they can show up to an open house or appointment in our business and just “land the deal.” Not so much…
In today’s connected word, buyers of all types in all industries are more educated thanks to the plethora of information readily available to them. This means that you need to spend more time preparing for what you are about to encounter. Practice your sales pitches and work on understanding who it is your meeting with. Use social media to discover interests, habits, behaviors and ways to connect with them to understand how you can help them. One of the ways we tell our agents to use social media is to find a commonality between them and the potential listing customer before they go into meeting. That way, when they meet one another, the agent can share a common interest with the person when they are talking that breaks down any barriers or walls that might be present and makes them feel more comfortable with our agents. How much you prepare for a meeting will determine how successful you are at closing the deal.
2. The More You Learn, The More You Burn.
Just because you don’t go to school any more doesn’t mean you can’t continue to learn. Educational seminars, books, classes on new sales techniques and talking with people in your industry, like we are this week in Boston, is a great way to close more deals. Training your mind to perform with as much information as possible helps you become better at connecting with people in the deal and closing them with techniques that have been proven to work. The only way you learn how to become better at closing deals is by committing to learning to become a better you.
3. In Order To Hear, “Yes,” You Must First Hear, “Why”
When your in a sales negotiation and pitch, the most important word you are looking for is, “Yes.” So often, people focus their persuasion efforts on getting the, “Yes,” response, that it makes the other party feel a great deal of pressure, making them very defensive. That’s why, we like to say, “In order to hear, ‘Yes,’ you must first hear, ‘Why.” What we mean by this is if you want to get more people to commit to you, you must first focus on determining whether there’s a fit in the first place for you, your product or your offerings with them. Focus on why they are meeting with you, why they need help and why you are the one who can hopefully help them. Once they realize you aren’t there to pressure them into anything and, instead, are there to help them find the BEST solution for them, even if it isn’t yours, they’ll be more comfortable with you and — as a result — you’ll be more likely to close the sale.
4. Challenge Your Prospects To Be Better
We always talk about how Burgan makes everything Better. And this is true with your prospects as well. When it comes to your products or service, remember, you’re the expert. Sometimes buyers don’t even know what they need or want, so it’s your job to help them through this process. In real estate, the process is much more cumbersome with banks, appraisals, closing papers, title transfers and so much more. Lead them where they need to go and help make them better. Help educate them, not only what they are buying or looking to purchase, but the options available, what they can hope to achieve by using you and how choosing you and your products/services can impact so much more than they were thinking. And, most importantly, don’t be afraid to challenge your prospects when they’re wrong. Remember, you ARE the expert. This approach will help you increase your value and stand out from the competition.
While any of these four tips will help transform your closing rates for your sales, don’t try to do it all at once. Start by picking just one to practice, and implement it in your next meeting or pitch. Even be honest with your prospect after the deal is done, whether you closed it or not, and ask them for their feedback as to how you did or how you can improve. There’s always room to close more business, and there is always time to do things that will make you better!