Real Clues

[RealClues] #276 Negotiation (part 6)

SPECIAL INVITATION TO OUR READERS: Did you miss our teleclass this morning on "How to Prosper in a Down Market?" If so, you can catch it next week once we receive our copy from our sound engineer and post it to the web--again at no charge to you. This is a sneak preview of our upcoming membership series that will have a wealth of information at a price you will love. Look for lots of great resources, when you want it and how you want it.

http://www.profcs.com/app/netcart.asp?MerchantID=35347&ProductID=3562299

This week at LuxuryClues.com: New series: Building your luxury dream home series; a safe way to keep deer away; which big screen televisions are best, plus much more.

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Table of Contents
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1. CoachingClues: Secrets of Successful Negotiation: Go for the Close (Part 6 of 6)
2. Welcome Notes: How to Become a $19 Million Dollar Producer
3. Reprise: Six Tips for Prospering in a Down Market: Surviving the Downturn
4. Create a Better Life: Asking for What You Need
5. Featured Products:
*SNEAK PRVIEW of our new membership program: Get the Listing Every Time Teleclass
*How to Become the Best Agent Ever
6. Increase Your Production with Personal Coaching
7. Give Us Your Feedback on this Newsletter
8. How to Subscribe/Unsubscribe

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1. CoachingClues: Secrets of Powerful Negotiation:
Part 6 of 6: Go for the Close
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If you're attempting to use manipulation or other outdated closing techniques from the last century, it's time to recognize that today's consumer needs a different approach to negotiating that puts them in charge of the decision making process.

Last week's column discussed how to use body language to determine whether a client is lying, is feeling tense, or hostile. Whenever the client resists, lies, or becomes hostile, the primary reason is that the trust has been broken in some way. Clients fear that they're just a number, that you are more interested in your agenda rather than theirs, or that you may try to manipulate them. Thus, the old phrase "buyers are liars" is usually false. Instead, negotiation challenges almost always result because the agent has tried to move the process forward too quickly or has violated the client's trust in some way.

Be a Conduit of Information
Over the years, I've watched thousands of agents struggle with scripts that did not fit their personalities, hard closes that made them feel sleazy, or aggressive tactics that turned off their clients. When it comes to closing, a better option is to be a conduit of information. Your role is to provide your clients with as much information as possible so that they can make the best possible decision. Being a conduit of information removes you from having to pressure the clients in any way. When your clients feel in control, most objections disappear.

It's Their House and It's Their Decision
The most important phrase that you can add to your closing vocabulary is, "It's your choice, what would you like to do?" Outline the options available to your client, ask if there are any options that you have missed, and then turn it over to them for the decision. Remember, it's their house and it's their decision. This simple approach reduces the stress of negotiation dramatically. Your clients perceive that you are on their side and are doing your best to help them achieve their goals.

Overcome Objections by Asking Questions
Buyers' objections are almost always buying signs. They normally do not raise objections unless they see themselves living in the property. One of the best strategies to overcome objections is to ask a question. For example, when the buyer objects to the seller's choice of carpet, you could respond by asking, "Would you prefer to replace the carpet or would you refinish the hardwood floors?" This is a classic "alternative choice close" where you are asking the buyers to picture themselves living in the property. No matter how they answer the question, they see themselves living in the property. As a rule of thumb, the more questions you ask and the fewer statements that you make, the more likely you are to close your clients.

Answer Questions with Questions
Another important strategy is to answer questions with a question whenever possible. When a buyer says, "How much do you think the seller will take?" One question to ask is, "Would you like to write an offer to find out?" When a seller wants to know how much their property is worth, review the comparable sales and then say, "Where would you like to position your property in the marketplace?"

Be Congruent
One of the key concerns that many agents have is how to build client trust. Trust begins with being congruent. This means that you do what you say you are going to do. It also means the words you say, the way you say them, and the way you move your body also all match. When you speak with your clients, do your best to match their rate of speech, volume, and pace. Keep your body still. Nervous movements on your part will make them nervous. Being congruent also means that you match their level of eye contact. Watch their body language to see if they are feeling uncomfortable. If so, slow down your pace and step or lean back from them. You want them to feel that this is their decision--not something they were forced to do.

Is that a Strategy that Works for You?
When competing against other agents for a listing, outline your marketing plan and then ask, "Do you believe that I can get your house sold?" If the seller says, "We're interviewing other agents," respond by saying, "Great. Please compare our premium marketing plan with those provided by the other agents and then decide which agent can help you obtain the highest possible price for your property in the shortest amount of time. Is that a strategy that works for you?"

What makes this approach powerful is that you have set the expectation that the other agents will bring their marketing plans to their meeting with the sellers. When your competitors show up without a marketing plan, you'll get the listing virtually every time.

The Early Bird Gets the Worm
Ultimately, the large majority of clients end up doing business with the first agent they contact. Your negotiation skills are of little use if you're not generating leads. Thus, the most important negotiation skill you can acquire is simply to take every possible step to be the first one who contacts the client. If you immediately respond to every lead you generate, you will have plenty of opportunities to exercise your excellent negotiation skills.

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2. Welcome Notes
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Welcome to our new subscribers this week. Each week RealClues provides you with great strategies to improve both your business and your life. If you find this issue of RealClues helpful, take a moment to hit the "forward" button and send it to another friend in the business.

I recently had dinner with Matthew Fettick of Keller Williams. Matt is an amazing agent who is on target to sell $19 million this year. By the way, he's only in his third year in the business. How did he do it? Here's what he told me.

You don't have to reinvent the Wheel. I read Waging War on Real Estate's Discounters and did what you said to do in that book. You really ought to change the title to "How to Be the Best Real Estate Agent Ever!"

Matt will be one of our interviews over at our new membership program coming to our site coming in June. Look for more details in upcoming editions of RealClues.

On a different note, if you or any of your clients are having deer trouble, check out our post this Wednesday on LuxuryClues.com about a safe, humane way to send Bambi and his family away from your beautiful spring landscaping.

Have a great week!

Warmly, Bernice Ross, MCC, and Byron Van Arsdale, MCC
www.RealEstateCoach.com, www.LuxuryClues.com, www.RossdalePress.com, www.ConferenceCallTraining.com, and www.TeleconferenceLine.com

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3. Reprise: Will the Real Estate Downturn Bust Your Business?
Five Simple Survival Strategies
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Here is part 3 of this very important series that first ran in 2004. If you want to keep your business strong while others are struggling, the five strategies in today's article will show you how:

http://www.realestatecoach.com/articles_archive/art20041018.html

In case you missed parts 1 and 2:
http://www.realestatecoach.com/articles_archive/art20041004.html
http://www.realestatecoach.com/articles_archive/art20041011.html

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4. Create a Better Life: Asking for What You Need
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Most agents are good at asking clients for business, but may struggle with asking for what they need in their personal life. Today's article shows you how to ask for the things you need to have both a great business and a great personal life.

http://www.realestatecoach.com/articles_archive/art_asking.html

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5. Featured Products:
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SNEAK PREVIEW of our NEW membership program:
Sign up today for our sneak preview "Get the Listing Every Time." You can listen to this at any time by first clicking on the link, filling out the simple form, and open the link. This one hour class will show you how to get more listings at the right price. What are you waiting for--there's no obligation. Check it out for yourself and watch for details about our new membership program coming in June!

http://www.realestatecoach.com/audio/gtl042007.mp3

*How to Become the Best Real Estate Agent Ever!
Matthew Fettick is on track to sell $19 million this year? He did it by following the step-by-step process for prospecting and converting listing leads outlined in Waging War on Real Estate's Discounters. This book is more than strategies on how to earn a full commission. It is a completely documented process for converting more leads into closed business. Click here to learn more.

http://www.realestatecoach.com/wagingwar.html

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6. Increase Your Production with Personal Coaching
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Looking for a well-trained coach who knows the real estate business? Our coaching team can help you increase your production and make your dreams come true! Send an e-mail to Shane@RealEstateCoach.com and we'll help find the right coach for you.

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7. Give Us Your Feedback On This Newsletter
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We want your feedback-to share your thoughts and suggestions, please e-mail us at Shane@RealEstateCoach.com.

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8. How to Subscribe/Unsubscribe
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Visit our Web site, http://www.RealEstateCoach.com to subscribe/unsubscribe to RealClues.

Copyright (c) 1996-2007, RealEstateCoach.com and Teleclass4U.com, LLC. All rights reserved. Permission is granted to reproduce, copy or distribute RealClues as long as this copyright notice and full information about contacting the contributors to this newsletter is attached.

Contributors to this newsletter:
Bernice Ross, MCC, and Byron Van Arsdale, MCC, Owners, www.RealEstateCoach.com, www.LuxuryClues.com, www.ConferenceCallTraining.com; www.RossdalePress.com; and www.TeleconferenceLine.com
Shane Bowlin, REC General Manager

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