Week 3 Prospecting Tips! The best way to increase your business is to Prospect. The Goal of Prospecting is to find someone with a need for your services. The Goal once you find that person is to get a face-to-face appointment with them. You will encounter objections! You need to be prepared to handle these objections. Objections are sometimes: o based on wrong information o based on discomfort o based on fear of making decisions Objections are opportunities for us. o To make them feel more comfortable in making a decisions o To give them the information they need to make a decision o To gain their trust and confidence o To give them the confidence to move on
To be able to confidently handle objections, we need a process. CDDC Clarify:
o Ask Open ended questions to be sure you know what the concern is and what caused it. o Mr. Johnson, may I ask, what makes you feel that way? o What are you thinking may happen? o When is a better time? o When would you prefer to do that? o Where did you see that? o Who, What, When, Where, Why, and How.
Once you are sure you know what the concern is and why they feel that way, you should restate it and verify that you are correct. o “So, you feel that the house is overpriced by $25,000. And that is based on the price that you heard they got for the house across the street. Is that correct?”
Dignify: Let people know that it is OK that they have these feelings/concerns. You don’t need to agree with them. You just need to let them know it is OK that they feel that way. o “I can understand your feelings.” o “I can see why you brought that up.” o “That is a common concern.” o “If I were in your shoes, I would be concerned about the same thing.”
Discus: Now that we understand the problem…we can offer solutions. Don’t be afraid to say you don’t have an answer to that, but you will research it and get back to them. They will appreciate your honesty. Confirm: This is where you verify that your offered solution overcomes their concern. If it does, this is a great time to ask for the order? o “If I were able to do this, would that take care of your concern? Great! Let’s get it on the market. Approve it right here….and we can start marketing your property.”
Handling Objections (Talk Tracks) While Prospecting
Larger Home – “Not a Good Time To Sell” Scenario: o You contacted a prospect that just got a promotion and you asked if they had thought about purchasing a larger home. He/she responds: o “I’d like to buy a larger home but I heard now is not a good time to sell my current home”. Follow your objection-handling track, and give the information to change their thinking or feelings. Once you get to the Discuss step: o “It is true the market has shifted a little, but it can work in your favor. The value on your home may have adjusted, but most likely so has the value of the larger one you want to purchase. The adjustment will
typically be greater on the larger home than it would be on your current home. If you take advantage now, you will get in on the lower purchase price and lower interest rates. Let’s take a look at the numbers to see how you would benefit from this?”
Smaller – “Not a Good Time To Sell” Scenario: o You contacted a prospect whose an empty-nester and wants to move to a smaller home, condo, townhouse He/she responds: o “We would like to downsize but we heard it is not a good time to be selling a home”. You follow your objection-handling track, and give the information to change their thinking or feelings. Once you get to the Discus step: o “Even though the market has shifted a little, chances are you can make up the difference as the price on the home you want to buy because it has probably shifted, too. With down-sizing you will save on taxes, insurance, utility bills, maintenance and upkeep. Let’s take a look at the numbers to see how this would benefit you?”
Move up – “ We want to wait” Scenario: o You contacted someone to tell them about a property you just listed in a slightly more expensive neighborhood nearby. He/she responds:
o “We’ve always wanted to live there but we decided to wait until our car is paid off. You follow your objection-handling track, and give the information to change their thinking or feelings. Once you get to the Discus step:
o “While you are waiting you could lose out on the pool of buyers for your home that are being generated by the low interest rates. You may also miss out on the lower prices that are available right now. Any of these could cause you to lose money. You may even be able to make the move with a very small difference in your monthly payments. Let’s compare the numbers to see how you could benefit by taking advantage now?
Renter – “I Want to Wait” Scenario: o You contacted a person who is currently renting He/she responds: o “We wanted to wait until we save a little more money”. You follow your objection-handling track, and give the information to change their thinking or feelings. Once you get to the Discuss step: o It could actually cause you to lose money. There are many financing programs available that do not require a huge down payment. You would benefit you by purchasing while prices are a little lower and interest rates are lower. Another way you would benefit is with the interest deduction on your tax returns. Let’s take a look at some of the numbers?
To Handle an Objection Stop, and think: “What would this person need to know to help them understand that their position may not be beneficial to them?” Make a big effort this week to take your conversations with prospects to the next level!
This Week Wrap-Up o Make your 21 contacts per day (105 for the week) o Make sure you post your activities daily, but not later than_______________ o Listen to the recorded classes “eCampaigns” & “Handling Expired Listings” o Send a “eNewsletter & “eGreeting” to your manager o Start working on your expired Listing Presentation o Our next meeting is ___________ at _____