Objections -- Can You Handle Them? Part 2 (The Bullets)

In part one of "Handling Objections" we talked about some specific questions that should be part of any comprehensive needs analysis.  When you drill down three-deep, meaning that you ask two more questions about the answer to the first question, you will discover two things:

1. You will listen much better - In order to ask more questions about an answer, you actually have to listen to that answer.  This was tough for me when I first adopted the needs analysis as the basis for my listing presentation.  I had been so used to talking, making statements and holding forth in my appointments that, even when I did ask a question, I was immediately so busy formulating my next brilliant statement, that I never really heard the answer.  Sound familiar?
2. You get bullets - If you want to be an effective closer you need to be armed to the teeth.  The answers to the needs analysis questions are your ammo.  They are the bullets for your objection gun.

Here is an example of how this works:

You - So Sally, are there any questions that you have for me before we move forward?
Sally - Not right now. I think we pretty much covered everything.
You - Outstanding.  Let's just approve the agreement and we can get started.
Sally - Well... I need to think about it for a while.  I really want to talk to some other agents
You - Of course. I understand completely.  Let me ask you something.
Sally - Sure
You - When I asked why you were thinking about selling now, you told me that you could no longer make the payments, that you had missed two already, the bank was calling all the time, and that you really wanted to avoid a foreclosure.  Is that right?
Sally - Uh huh.
You - Was there any other reason that you want to sell now that we didn't touch on?
Sally - I don't think so.
You - Remember where I showed you the short sale time table in the presentation and we discussed the amount of time necessary to put together a complete package for your lender?
Sally - Yeah.
You - If you hired me to sell your home and your home went to auction before we had a complete package with an offer for your lender, how would you feel?
Sally - Terrible... sad... angry... I don't know.
You - So can you see now how important it is to get this approved so that we can get started right away?

This is the true power of the needs analysis and the consultative interview versus the old-school "Listing Presentation".  In the "Old School" listing presentation where you puke all over the prospect with statements you think will prove how knowledgeable you are and how effective you would be, you would need real bullets in a real gun to get Sally to sign the listing.  But with the needs analysis and a consultative approach, you ask questions that lead Sally to the understanding that she needs to sign... and that, SHE WOULD BE A FOOL TO DO BUSINESS WITH ANYONE ELSE!

Ask... Don't Tell! -- OBJECTIONS... Can You Handle Them??

So imagine you're sitting in front of a prospective client (listing or buyer).  You've just told them all about the market, their homes value, the neighborhood, the town, the schools, the parks, the shopping and more.  Oh... and you told them about how fabulous you are as a Realtor.  You told them all about your experience and your awards and how great your company is and how your serve the community.  You TOLD them all of these great things.  Then, to your great surprise and your ultimate chagrin, they say, "Ok...  Well... thanks very much.  We have some more agents to interview and then we'll give you a call in the next few days."  Or something equally non-committal.

What are they really saying?  -- They are saying that they want you to leave now and that they are going to keep looking until they find an agent they are comfortable with.  So why does this happen (rest assured that it happens often to all kinds of salespeople)?

Well... what if you had done a consultation instead of a presentation?  What if you had asked them...

Ask - Don't tell.
Listen - Don't speak.

• Why are you selling?
• Why did you choose to make the move now?
• Where will you be moving?
• What is most important to you when you contemplate this process?
• Have you ever bought/sold a home before?
• What did you like the most about your experience?
• What did you like the least?
• What do you think your home is worth?
• If I could waive a magic wand and make this experience the best it could possibly be, what would that look like to you?

And here's the kicker... what if you had asked two or three more questions about each of the prospect's answers?  Wouldn't it tell them something about you?  Do you think they would realize that you actually care about their needs and their desires?  Look... you know you care about the client.  I know we all care about our clients.  But before you have had a chance to show them how much you care by working for them, THEY DON'T KNOW THAT YOU CARE.  In fact, they think you don't care about anything but your big fat check at closing.  Wouldn't this list of questions also tell you something about the prospect?  In fact it tells you everything you need to know about them to gain consensus and close the deal.  A properly executed three-deep consultation gives you the ammo you need to shoot down ANY objections that may come up.

What we are talking about here is the "Needs Analysis".  This is the foundation of all true relationship based sales.  The real power of the Needs Analysis is two-fold:

1. It deepens the relationship - almost immediately by demonstrating to them that you actually care about their needs.
2. The prospect's answers are your closing points - if you properly execute a three-deep analysis, your prospect will own the decision to work with you.  They'll think, "I'd have to be a fool to do business with anyone else."

In the next entry we will look at some common objections and the ways that a proper Needs Analysis will give you the information you need to over come them and close the deal.

Save Thousands & Do More Deals Using Electronic Signatures

If you are like me, there are not enough hours in a day to get everything done.  I get to the office early, clear my voice mail and email, write down my to do list, role over all the items from yesterday that didn't get done, and typically I am looking at a completely full day.  And that is BEFORE I start calling, prospecting and putting out the inevitable fire or two.  Need a way to save countless hours chasing documents and signatures while saving thousands of dollars per year in fuel costs?  It has been calculated by several digital signature authentication providers that the cost in paper, FAX consumables, fuel, time and lost productivity averaged over a 12 month period is approximately $6.50 per signature.  If you conservatively estimate your cost per signature at even half of that number, you can see that, at only 20 signatures per transaction, your potential savings are right around $65 per deal.  Start using digital signatures right now.

There are several companies out there that provide safe, secure digital signature processing.  Among the top companies are:

Electronic Signatures are the Future

• Docusign
• Zip Logix - Digital Ink
• Verisign

The great news is that if you are a Realtor member of CAR (the California Association of Realtors) you already have a FREE Zip Logix Digital Ink account!  If you are like me, you probably just pay your dues without giving much thought to your member benefits.  One of the great features of this account is that it seamlessly integrates with the Zip Logix "Winforms" transaction documents.

Why use digital signature authentication?  Have you ever faxed a document package to a client for signatures, waited for it to go through, waited for them to print it out, talked them through the signature process, and waited for them to scan it or fax it back only to find out that they missed an initial or that some of the pages were illegible or missing?  The proper use of digital signatures completely eliminates all of this hassle.  Additionally, it saves paper and fuel and can be part of your "Green" initiative.

Most of us are too busy to spend valuable time trying to figure the e-signature thing out on our own.  Some of us just need some help and don't know where to start?  Either way there are classes available from time to time that are put on by your local board of Realtors or a local real estate brokerage.  One of the best "fast-start" classes out there is put on by Keller Williams Realty - Yuba Sutter.  It is FREE and is available to any agent from any real estate company.  I have linked it on the right-hand side of this blog.

So get with the program, impress your clients, save time and money and go green.  Implement digital signature authentication in your business today.