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Real Estate News and Advice |
December 2, 2008 |
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Closing Can Be Fun As Well As Profitable
by Marylyn B. Schwartz, CSP
The best agents are the ones that know how and when to close. They work on mastering great closing techniques and can never have enough of them. As a matter of fact, they collect closes, so to speak. No close, no matter how great it seems, works all of the time. That’s why you need lots of them. If the first one does not get the results you desire, hit your customer with the next one. Close three times, and you’ll increase your sign ratio greatly! All it takes is practice. These are a few of the closes that I’ve collected over the years. I got them from other salespeople, who got them from other salespeople, and on and on. The Pen Close Use this one with a client who wasn’t happy with the previous salesperson from your company. Agent: “Well, Ms. ……, if you have no more questions, let’s get the ball rolling…” Client: “I’ve done business with your company before, and I wasn’t too happy.” A: “Were you happy with the company and its services?” (Yes). “May I illustrate something to you?” (Yes) “Would you take this pen and write the word SOLD for me, please. Now, I’ll write the same word. Please look at these two words. What do you notice about them? That’s correct. They look very different, but the thing is, they came from the same pen. That’s just like the other person in my company and me… We come from the same place, but we are as different as night and day. That makes all the difference, wouldn’t you agree?” The Airplane Close Use this with a client who is “unconsciously incompetent” to move them to “conscious incompetence”. A: “I’d like to go through our marketing plan now.” C: “I don’t need all that. I have been a seller before, and I’m pretty savvy.” A: “Have you ever flown in a plane before?” (Yes) “Well of course you have. Let me ask you this. Just before flight time, have you seen the pilot look over the plane, check the instruments, review the flight plan, etc.? Sure you have. Why does she do that? That’s correct…she doesn’t want to crash. The same holds true with a marketing plan. If you don’t have one, the chances of failing are much higher.” The Sharp Angle Close Use this close when you have to narrow down the objection and isolate the problem. A: “All I need now is for you to authorize me to go to work for you.” C: “ I think I’d rather wait to have my attorney look this over first.” A: “Sounds like you feel a bit uncomfortable at this moment, and you feel your attorney can help you feel more secure. Is that correct?” (Yes). “Is that the only thing stopping you?” (Yes). “If I could prove to you that this is the right thing to do, I mean prove it to you in your heart, would you sign with me today?” Always use a visual. The Shoe On The Other Foot Close Use this close when you have to get the other person to see your position. Great when negotiating and you’re at a critical juncture. A: “Well, just put your John Hancock here, and we’ll start the marketing of your home today.” C: “I’m ready to do just that but only if you take a few points off that commission. You see we talked to a few other agents, and they can do it for less with the same services.” A: “Mr. and Mrs. Crankovich, you do want to sell, don’t you? Just out of curiosity, did the other agents agree right away or did they give you a really hard time with cutting the commission?” C: “No, they took a look at the home, and when I said cut the commission, they said yes almost immediately.” A: “See, that’s my point. Put yourself in their shoes. If they are so quick to give away their money, what will happen when they negotiate a sale for you? How fast will they try to give away your money?” Or “Suppose you were a real estate agent, Mr. Seller, and you were taking a couple to see three homes. Two have commissions at 6%, and the other is at 5% percent. Which one would you try not to show?” The Mistake Close This is a gutsy close and requires a bit of finesse. If you are having a bad day, you might want to select a different close. Use this close with a client that isn’t focused, and you are ready for the signature. A: “Mrs. Smith, have you ever made a really big mistake in your life? One you regretted for quite some time?” (Yes) “Well, with all due respect, you’re about to make another one!” The Ben Franklin Close This close is the first one ever used by the cavemen when they went from cave to cave prospecting. Use this close to get a person to look at the positives of making the decision that you want them to make. A: “So, you’ve seen all the homes available this morning, and it seems that you really love this one. Is that on target?” C: “That’s right. It’s just what we were looking for. But, we had better not jump into a big decision so quickly.” A: “Sounds like you’re on the fence, correct?” (Yes) “May I show you a way to help you narrow your decision?” Get a paper and pad and draw a line down the center of the page vertically. At the top of the first column write Ben’s (for benefits, thus B. Franklin). Now, ask the client to give you all the positives about the home. Help by prompting responses. Skip the negatives, if you can, or make a short list. There will be fewer negatives than positives. Go to the next step below, if possible. A: “ From all the positives, it seems obvious this is really the home of your dreams. You do want to buy, don’t you? The home has received a lot of interest (or it’s been shown four times this week, or there is very little in this price range and you’ve seen all the others, etc.…) If you got into a bidding war, it could drive the price up. You wouldn’t want to possibly pay more for it at a later date, would you? Let’s get the offer going.” The Safe Deposit Box Close Use when you’re exhausted and all the other closes fail, but you know this is the right house for them. Have all parties present at this close. A: “I’ve been working with you for several months now, and we’ve seen a great many homes. This is the only one that you’ve really gotten excited about, isn’t that correct? Yet you’re still on the fence, so to speak. I had a feeling this might happen. I find it hard to sit by and watch you let a good home like this slide away. Here’s what I’d like you to do. Sign the agreement, and I’ll put it into a safety deposit box in your name. Leave it there for a year or two, then take it out and explain to yourselves how you let this one get away. Are you willing to take that chance and lose this one?” The Feel, Felt, Found Close This is a really great, tried and true close that helps moves people over to your side of the issue. Use this anytime you need to illustrate how a certain course of action might adversely effect the decision maker. The key to this close is using stories to demonstrate your point. Make them third party stories and avoid always using yourself as the example. TV Salesperson: “You really like that big screen TV, don’t you? Let’s get it in your van and you’ll be home watching the game in no time.” Buyer: “I like it alright, but it’s not going to make it home unless you can knock off $100.” Salesperson: “That’s not possible. I already got it down as far as I could. Let me ask you this. You do want it, don’t you?” (Yes) “I understand how you feel. Just two weeks ago I had a couple in here that felt the same way you do. They called me a few days after they made the purchase. Here’s what they found. They said it was the best hundred dollars they ever spent. They love the TV and enjoy it every day. Enjoyment is exactly what you are looking for, right?” (Yes) “Well then, let’s get that paperwork going.” Published: January 8, 2002 Use of this article without permission is a violation of federal copyright laws. Related Articles:
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