Closing is all about gaining small commitment all of the time; from the very beginning of your meeting. Your closing should be very evident in action, every day.
So, start with a close, punctuate your sales structure with small decision building moments. Use closes little and often to build up to a natural next buying step.
Don’t blow all your sales effort because you don’t have the confidence to ask the customer whether they would like to Reserve.
Ask how what you have done with the customer has helped them in their buying decision and which home they prefer at this stage.
Help the customer to be confident with their ability to make good buying decisions.
Think about how you value yourself, and what you do. So many sales people NEVER ask for the business.
It’s a common mistake and you can put it right!
Asking for the sale or ‘closing’ is vital so always make sure you gain customer feedback and commitment, it is this gradual approach that will increase your Reservation rate!
We believe that good closers do everything they need to do make it easy for customers to say Yes so we challenge you to make sure that as you work with your customers, you are giving them plenty of opportunity to make small decisions to narrow down choice and get to a plot specific point when it makes sense for you to ask that the reserve the home with you.
Closing little and often helps to develop confidence on both sides
Customers need to be confident of their ability to make a great buying decision. You owe it to the customer to make it easy for them to buy by inspiring them with your enthusiasm. If you don’t ask, you won’t get it! So remember your customer needs you to ask so that they can say yes!!
Here are some ways to gain your customer’s commitment to consulting with a recommended IFA.
If a customer says their brother in law is an IFA or that they are already sorted; try these phrases:
“Excellent, you will have good information to compare. We recommend you get the most up to date information right now as there are so many new products on the market, there may be better options. When will it be convenient for an IFA to speak to you?”
“I am not qualified to give you financial advice however my customers really benefit us working with an IFA so that we create the best plan for you to purchase you new home. You have nothing to lose and everything to gain from free, independent advice from someone qualified who knows which new home products are on the market. They will help you and by law are independent so when shall we get them to call you”?
“I understand that, when we have found a home for you, we will need you to verify how you will finance the property with our financial advice partner so that we can confidently take the property off sale for you while the solicitors get us to Exchange. The sooner we clarify the financial plan, the sooner we can focus on the most suitable property for you. When will it be convenient for them to call you”?
“Only last week, I had a customer with similar circumstances to yours, they too had ………(their own broker, lender etc.), but after talking to another advisor, they realised that buying a New Build property requires specialist advice not just in selecting the right lender but also submitting the application and valuation request so everyone understands the deal given etc. We know that X can do that for you. When will it be convenient for them to call you”?
Practice phrases that come comfortably out of your mouth and get comfortable with earning the customer’s commitment to knowing how the home will be financed and what the financial plan is. The sooner you both know, the better you can both working within real parameters.
Utilising the expertise of a financial advisor is critical for you and the customer. It has advantages on both sides:
What’s the customer’s financial plan to buy a new home? The most excited customer may not be able to buy a home from you so it is critical that during the meeting, you find out what the financial plan is for the purchase. Ask questions such as:
- What price are you working to?
- How much are you looking to spend on your new home?
- How much of that will be mortgaged?
- Tell me about how you plan to finance a new home?
- What mortgage advice have you had?
- How much equity will you be putting into your new home?
- What do you need to do to arrange the finances to buy a new home?
Whichever way you ask, the question is the same. Most people will give you an indication of their price range if you ask properly (though initially the price they actually want to pay may be somewhere at the lower end of this).
Tip one: Focus on getting top line information first, make sure the customer knows that you are working with the figure/details they have given you.
Tip 2: When rapport is high is the best time to step off ‘selling’ and revisit how the finance will work – to promote the gain of talking to an independent financial advisor
Tip 3:Practice your opening lines, here are some ways to open up the conversation about getting the best financial advice.
“Tell me, how you are intending to pay for your new home”?
“What arrangements have you put in place to purchase your new home”?
“I advise all customers to take up to date financial advice as this will help you to spend time focusing on what you will buy”
“Let’s understand what financial arrangements need to be in place to purchase your new home”
Be confident when talking about how a customer will arrange their financial plans to buy their new home. Help them to help you.
Spread out the finance questions so that the customer does not feel your are selling financial advice rather than a new home. Help them to see that an IFA consultation will help you both to work out which home suit their needs within their budgeting.
One of the big personal challenges to STOP ‘dumping’ all that you know about the development, the homes built and being, the local market – on the customer!
The sales opportunity is not your time to show off all you know; it is the time to show your customer how much you care about helping them to find the home that they want to live in, therefore:
- Stop talking and start listening!
- Break all your information up so that you can speak in headlines – giving a snippet of rich information without needing to go into detail
- Short summaries of what you know about a topic if the customer wants to hear more
- Then detail, detail if the customer needs it at that point and has the appetite for it
Take some time to discipline yourself to use your information sparingly but meaningfully early in the sales meeting, use summaries rather than lots of detail as you engage with your customer and make sure that what you are saying is relevant and timely.
Keep the detail until you are plot specific, focusing on a home that is a serious contender for the customer’s buying decision.
Use your knowledge to wrap the home around the customer.
Don’t expect the customer to extract what you know and make sense of it for themselves, that’s your job!
When talking to your customer, a ratio of 2:1 should be evident throughout; you doing half as much talking as the customer is!
Remember to trade your information with your customers’.
Your information is valuable to the customer and used well, can help the customer to add value to their perception of the home you would like them to buy.
Your customer will only have a short attention span unless they are specifically hearing something that is so relevant to them they want to make sense of it.
Try practicing a 2 for 1 ratio with the next customer you talk to – that’s the customer talking twice as much you are not the other way round!
Why is this effective?
Just this discipline alone will make you more conscious of listening because to trade your information you have to do 3 things:
- Practice breaking up your information so that you are giving your customer a headline of information
- Make sure that how you say what you are saying adds value to the customer’s perception of the home and how it will add value to the customer’s new lifestyle
- Be clear of what the gain is of everything you say. Learn how to craft PowerPhrases that enable you express in a seemingly casual way how you explain the benefits of buying a home from you
Success comes from implementing conscious habits; sales success is not achieved by shooting from the hip. Practice, practice, practice so that you are perfect when a real customer presents themselves to you.
Buying a home is a highly emotional event and if the customer has not been able to rationalise their understanding of the home you are presenting to them to buy, they will be less able to allow their emotions to be maximised.
You need the customer’s desire for the home you want them to buy to be high ,and their confidence to make a buying decision even higher.
We recommend that being disciplined in your sales structure enables you to:
- Take time with your customer to understand what they are trying to solve or change in their life through their new home before you present what you have available
- Use what you have to view – may be a home or you may be off plan and floor and site plans
- Spend a few minutes making sure the customer understands why you are proposing the homes you suggest you look at
- Build their confidence by helping them to understand how the home you are showing will add value to their lifestyle
Our best advice to you is …
- Do more asking than telling
- Change from over-presenting and under closing to closing little and often
- Make everything you say worth hearing
- Get the customer talking twice as much as you do!
No one can change these behaviours for you, only you can make your difference.
Give it a go; you’ll be glad you did!