Video Mystery Shopping Tip: The Fine Art of Negotiation or Things you can learn from Old MacDonald!
Remember the old children’s song ‘Old MacDonald had a farm’? Ee I ee I oo? Well, as I was watching several new home video shops this week, that song kept playing in my head. Not because my clients were selling farms in rural Tennessee, but because I saw so many sales people giving away the farm, the farmer and the farm animals when they are negotiating a new home sale! Ee I ee I oo NO!
People, we’ve got to STOP the MADNESS! Sure, every home buyer is looking for a good *deal* on their new home, however many sales people seem to equate a good deal with giving away every incentive and back pocket dollar they have before they ever even have a deal on the table!
Before you can ever sell a new home to a prospect or client, you have to allow them to *fall in love* with the community, the home site and the floor plan. If you don’t, you aren’t really selling a new home; you are negotiating a contract for a tangible item. Now, if you were in the widget selling business, I might say that would be OK. But, we aren’t selling widgets. We are selling the American dream! We are selling a lifestyle, a future, and a dream.
So, what do you do when your prospects walk in the door demanding to know what’s the best deal you can give them? Well, you think about Old MacDonald, his farm and his menagerie of farm animals!
You see, Old MacDonald knew that the farm and the animals that he kept on the farm were his livelihood. He depended on those cows, sheep, goats and chickens to provide him with the basic necessities he needed in order to live happily with Mrs. MacDonald. He wasn’t about to give them away! He followed the Ee I ee I oo code of ethics!
Let me introduce it to you: E I E I O
Everyone is looking for a deal – get used to it. But, remember it’s your job to get your buyers to see past the initial dollar signs to truly appreciate the value of the home.
Instill value – Home buying is an emotional decision. Your buyers may tell you they are looking for a bargain, but I can guarantee if you ask them what is more important, price or value, the answer is always going to be VALUE.
Evoke emotion – Allow your buyers to ‘fall in love’ with the community, the home site and the floor plan. Have them *mentally* move in to the home! Customize your sales presentations so that the buyers can imagine themselves living there!
Introduce trial closes – Start building that emotional bond by introducing trial closes during the sales presentation. Overcome any objections the buyers might have along the way. This way, by the end of the appointment, they have had time mentally to embark on the idea of moving forward with their buying decision!
Open your ears, close your mouth – This is the only way you are going to determine your buyer’s true buying motivation. Ask questions and listen to what they are saying to you. Your buyers will give you every piece of information you need to close the deal! You just have to listen to them.
So, there you have it! The Old MacDonald recipe for successful negotiations! Ee I Ee I oo – YES!!