5 Most Potent Sales Techniques
What would be the five most potent sales techniques you could use if you had only five sales techniques at your disposal? What are the questions that would improve your closing ratio and grow your business?
The five most potent sales techniques are ones that have been proven over years of selling. These sales techniques work in various businesses in business to business sales, in business to consumer sales, in both short, and long sales cycles. They work, end of the story.
1. Amplify the pain
You want to make the cost of inaction real, in the present and unbearable. How can you amplify a client’s pain? What is the pain of a homeowner not selling their home? What is the pain of home buyer not buying a specific home?
These questions may help you.
“Tell me about your current situation…”
why are you selling your home
why are you considering buying this home?
“What’s not working right now…”
“Tell me more…”
“What is the real impact…”
if your home is not sold by …?
If you do not purchase this home?
“And what are the costs to you?”
if your home is not sold by …?
If your home is not sold for $…?
If you do not purchase this home?
“What prompted, you to deal with this now? What made you decide to do this now and not next year?
“What is more important to you at this time, time or, money?”
Is it more relevant to you to sell your home quickly, or is it more critical that you receive a specific dollar figure for your home?
Is it more important to you to buy a home with a specific time frame or that the price is within specified limits?
2. Fear of loss.
People are competitive by nature. It is part of our communal DNA to be competitive. Promoting scarcity and fear of loss can prompt clients into action.
“Interest rates are likely to go higher soon. On a $200,000 home with a $160,000 a one percent interest hike means you will pay an additional $36,000 throughout a 30-year loan. If you wait, you may not be able to purchase the home you want. Why not lock this in now at the lower rate?”
“You told me what you plan to do with the money you will receive from selling your home. The plans you have to help your children with college expenses, your travel plans, the savings you will get by living in a smaller home. College and other things will not wait. Don’t you want to get a jump on things and get this started ASAP.”
Think of how you, based on the questions you ask, can add a little competitive spirit into your conversation.
3. Get in front of the two objections you here most often.
At every stage of a sales career, people will hear objections. Rather than waiting to have your customer bring up the most common ones you hear, setting up a confrontation, get in front of them.
“Now a know that a lot of customers will ask me to negotiate my commission. It is something I do not do.”
“Let me tell you I have never sold a property for this high an asking price before. That is why I am going to put everything I can into this sale. I will make selling your home my number one priority.”
Bonus Tip: 40 Real Estate Objections Handled by Mike Ferry
4. Use a key sales objection as a lever to close the sale.
For example:
Prospect: “We need to sell our home for at least $550,000. But your CMA says to list it at $499,000.”
You: “Why is that important to you.”
Prospect: “We need $250,000 to pay off our mortgage and $300,000 to buy the condo, in the Virgin Islands, that we have been looking at.”
You: “Got it. I understand that you need the sales price to be $550,000 and my CMA says to list the home at $490,000. If I could explain why I want to list the home at that price and why I think you will sell the home for about $550,000 or more, is there anything preventing you from signing the listing agreement today?
What you are trying to do is get the prospect to get other objections out of the way before you address the final one. You want to make it clear that they are signing the agreement based on you fixing the final objection.
You can sell to someone that has negative thoughts and impressions, but it is a lot harder to sell to an apathetic person. If you know you have a key objection, sometimes it is best to save that objection till the end and use it to create movement and emotion to close the deal.
5. Let them sell themselves.
Ever hear the saying that the best salespeople do more listening than talking? Some great salespeople do little “selling”; instead, they guide the prospect to sell themselves. They ask questions, great questions to build motivation, they restate them, reframe them, and the customer sells themselves.
