How to Close the Deal.
Win their trust, and win their business right? Sounds easy enough but with so many other realtors and lenders out there, it's hard to stand out from the pack - let alone lead it. From the moment you start cultivating leads, the focus is already on the end game: closing the deal. And in a world where consumers have instant access to thousands of professionals, compelling first impressions are essential.
Many salesman have similar strategies when addressing a cold lead: find out what their needs are, ask questions, share personal stories and emphasize that their wants and needs are your top priority. However, recent studies have shown that this may not be the most effective way to maximize your lead conversions.
So what can you do to enhance that crucial first impression? Here are a few tips to help earn your client's trust quickly and efficiently, and help separate you from the hundreds of other sales pitches they've been wired to ignore:
1. Don't start off by asking the potential buyer what they want. Smart salesman interpret the needs of their clients and if done correctly, this technique can add that extra "wow factor". Most consumers want to buy from salesmen that they believe understand them. If you are able to immediately demonstrate that you understand their wants, they will feel more comfortable trusting you, and you will be that much more likely to close the deal.
2. Talk less, listen more. Buyers these days are more educated than ever. Once you have established your client's wants and needs, you don't need to overwhelm them with statistics and an abundance of market knowledge. The only insight that they really care about it is what you can do for them. This is when asking questions can be appropriate- but make sure you are asking the right ones. Your questions should start with "when", "why", "how" or "what" and should require thought before being answered. Most people enjoy talking about themselves, so it's your job to listen, but it's also important that you stay in control of the conversation. "I’d love to go over XYZ and then would be happy to answer any questions you might have. How does that sound to you?” can avoid the long tangents while simultaneously assuring them that you'll answer all their questions.
3. Create urgency. Your job is not only to convince the consumer to buy (or sell) but to do so quickly. There are certain dynamics occurring in the industry today that are time-sensitive, such tax credits and low interest rates. A buyer may be told that if he/she waits, history has shown that what is happening now will not last. This is only effective if you've been able to establish trust; clients should feel like they are being given advantages advised by a friend, not being rushed by way of hasty sales agents
4. Emphasize the call to action. You can convince people all day long that they should buy/sell, but if you can't give them an easy way to actually do it, you'll lose deals. If you've ever done successful online marketing such as email campaigns or internet ads, you've become an expert at this. "Click here to sign up" or "Call now" buttons are the most important part of the sales pitch. Once you're confident that the client is ready to move forward, give them simple and easy instructions on how to get the ball rolling. Make the process as straightforward as possible and do as much of the work for them as you can. This gives them less time to change their mind or to move on to someone else. This may seem like an obvious step, but too many times it is overlooked and sales are lost because of a simple lack of oversight on the follow-through.
At the end of the day, it's your job to convince the consumer that his/her quality of life will improve by buying what you're selling: that their daily routine, their feelings and their status will all be affected for the better. And the bottom line? consistency. If there's one thing that top sales agents all have in common, it's that they never gave up. So hang in there, keep pushing, and happy selling!
Now get back to work.
If you have any questions about the pre-approval process or intensifying lender standards, our specialists are happy to help. We offer FREE consultations including an in-depth credit analysis to pinpoint the problem areas and develop a plan for you specific situation.