The Pillars of Persuasion is designed to guide a salesperson through a psychologically sound path that results with a sale.
The sale starts with building credibility and ends at Pillar #12 which is getting a referral.
Pillar #7 deals with the finesse of getting the prospect to take the residence off the market with a reservation.
All prospects have fears and questions as they approach a major decision, some verbalize their fears, and many don’t.
Any questions raised by the prospect must be answered before closing the sale can occur. Don’t hurry over this critical part of the sale. Give time and draw your prospect out as much as possible. Have empathy and understand how they feel.
After the prospect states they like one of the two properties they were offered, ask:
“Mr. Prospect, what is it about this property that you liked best?
Only focus on the one they like…
An experienced salesperson asks the prospect to state what they like most about the property. This solidifies their decision. They essentially sell themselves as they listen to themselves speak.
Additionally, if they are buying with a partner, the partner is hearing the reasons why one person prefers this property. This further solidifies the decision in the mind of the silent partner as he or she gets sold listening to why their partner prefers this particular property.
Remember, few people are trained decision makers. On the brink of saying, “yes,” most prospects will stall and want to “think about it.”
In time, the words, “I want to think about it” will be welcomed because the salesperson now knows the prospect is sold. He is delaying making a decision due to stress. It becomes the job of the salesperson to lower the tension and relieve this stress.
Use the “let’s pretend” approach to do this. This phrase works because it's just pretend. The prospect will drop their guard and begin telling their hidden thoughts! Say:
“Mr. Prospect, I see you really like this property. Let’s pretend all the terms are agreed to, you get the price you want, as well as the timing that best suits your circumstances. What do you see as the next step?
Pause until they start talking.
The “Let’s Pretend” script moves the prospect closer to making the buying decision. All the pressure is removed because it’s just pretend, and the prospect can clearly see themselves gaining something they want.
This also gives them the opportunity to tell the salesperson what they see as obstacles to purchasing the property before moving to the close. One can’t counter objections if they don’t know what they are.
Once the obstacles are shared and addressed, it’s time to suggest some urgency to acquire the property.
This is done by suggesting that they take the property “off the market” to preserve their options before somebody else gets it. Say:
“Mr. Prospect, as I mentioned earlier, at this price, the property is very desirable and won’t remain on the market for long. There is a lot of interest in this property in our office.
I strongly suggest we submit an offer to take this property off the market to protect your interest. Do you agree?
Nod your head up and down, and do not speak until your prospect replies.
They will generally say something like, “Well, how do we do that?”
Or they may say:
- “Let me think about it.”
- “I want to sleep on this.”
- “I'm not quite sure.”
- “I need to discuss this with my lawyer, wife, or accountant.”
- “Do you really think this is a good deal?”
- “Is there anything else I should see?”
- “Do you think we might be able to get this for less?”
The above are buying signals, and you can respond with the following:
“Mr. Prospect, this is an important investment.”
Pause
“We don't want to rush anything!”
Pause
“May I make a suggestion? “We don't want someone else to get this property. I suggest we take this property off the market so you have the exclusive option to own it if you decide you want to.”
Take a long pause so your message can sink in, and then continue with:
“You have no risk or obligation. Do you agree with the wisdom of protecting yourself from possible loss? I strongly suggest you take this property off the market."
Be patient and allow for a long pause. Keep eye contact with your prospect, because if they are a real buyer, they will more than likely respond with,“Well, how do we do that?”
You answer with:
It’s simple, completing this reservation agreement will protect you for 24 hours. This means you have reserved your option to this property.
Agents don’t want to use the word “contract.” They simply have some paperwork to secure the “refundable reservation option.” Remember to always call a Letter of Intent or a Purchase Agreement “paperwork.”
The prospect’s stress is lowered making it easier to move forward without the normal psychological tension of making a decision. This “Option Method,” helps the prospect feel more secure about how the sales process was handled. Once they buy, a grateful customer is the result.
