The close of the sales presentation brings all the pieces of the puzzle together. All the work and preparation you have done up to this point will be rejected or rewarded in one or two minutes.
Your opportunity to earn a commission will be destroyed if you have not adequately prepared your prospect to take this next step. If you have done a sloppy job, you will have a difficult time at the close. There is a big difference between having your prospect move forward with you willingly and dragging them along with you.
The minute you feel any resistance from a prospect, stop "closing" and say:
"Mr. Prospect, I can see you like this property, and I agree with your choice. Let's pretend that all the terms you are interested in are agreed upon, and you get the price you want, as well as the timing that best suits your circumstances! Let's pretend. What do you see as the next step?"
[Pause until they start talking.]
Asking this question will not be necessary if you have done your job well. If you have followed the HPA System, you now have a reservation for the property. Pillar 9: "The Close" is a simple, no-pressure, no-stress way for your client to move forward with signing the paperwork.
The close is the fun part of the sales cycle!
Top producers say the close is more fun than even receiving the commission, and they look forward to closing.
If your prospect has signed a Reservation, a Letter of Intent, or an Option document, they have mentally bought the property you are selling, but this may not have occurred to them on a conscious level yet. Accordingly, you now move into the paperwork part of the close, and you do this with an assumptive attitude.
(Never call it a contract; always refer to it as "paperwork" or "owner's document.")
The 12 Pillars of Persuasion utilizes the latest breakthroughs in neuropsychology that allow your prospect to build their trust in you every step of the way.
For example, let's review the reasons for using TOM (Take Off Market).
The strategy behind TOM is that it's a sound way of relieving or at least reducing the stress and pressure on your prospective buyer. Most people are not trained decision-makers, and when placed in a decision-making position, they feel very uncomfortable. The main reason the selling profession has developed such a bad reputation is because of hard-closing, pushy takers who only want the prospects' money.
Understand that whenever you place someone in the position where they have to decide, they become uncomfortable. Even when your prospect has told you half a dozen times that they like what you are selling, they typically get bogged down when you ask them to buy.
Top producers understand this reaction and expect it.
The TOM strategy is so successful because it creates a no-risk way for your prospect to move forward with the buying experience. A Reservation or a Letter of Intent or Option Sales are not even legal documents in most jurisdictions. The TOM strategy is simply a sales ploy that relieves the stress and pressure that the typical buyer feels.
The TOM process is a low-pressure way to help your prospective buyer cross over the bridge of indecision. They want what you are selling but are afraid to say yes. So don't ask any direct questions that require a yes or no answer.
When your prospect agrees to TOM, that doesn't mean you do nothing for the next 48 hours. The sales process continues, but on an assumptive basis. What is meant by the word "assumptive"? You assume the buyer has made an affirmative decision, so now that the pressure is off, you can proceed with the "paperwork."
In rare instances, your prospect will question why you are moving into what they consider to be the contract. Your buyer may say, "Hey, I thought we had a reservation for 48 hours."
Your response is the following:
"You're right; you do have 48 hours. I'm just taking care of the paperwork now. Can we proceed with these details directly, or would you prefer to do this tomorrow? I have to turn in all the paperwork to my manager; still, I'll do whatever makes you most comfortable!"
At this point, you don't wait for a yes or no; you continue with the paperwork, if appropriate.
If you continue to get push back, this is a sign that your sale is not quite as concrete as you thought it was, and you should set up a meeting for your new buyer with your manager.
Having a manager involved in "buttoning up paperwork" would not be unusual. The close for new agents is perhaps the most challenging aspect of the sales process. For that reason, we suggest new agents turn over all their "hot prospects" to their senior partner or manager.
Many sales agents spend years in the business without refining or perfecting their closing technique. They may say they have ten years of experience, but there's a reasonable probability that they have one year of experience repeated ten times.
In contrast, new sales agents following the 12 Pillars of Persuasion system can acquire the needed skill in a few months. Soon, they will be looking forward to the close.
