Today’s REI Classroom Lesson
Today, John Martinez explains how to set up expectations from the beginning that you’re wanting either a ‘yes’ or ‘no’ answer. Having the indecisive answers only wastes time.
REI Classroom Summary
By providing this ‘yes’ or ‘no’ expectation, it motivates them to make a decision. Also be sure to let them know that a ‘no’ is an okay answer!
Listen to this REI Classroom Lesson
Real Estate Investing Classroom Show Transcripts:
Mike: Welcome back to the flipnerd.com REI Classroom, where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
John: Hi, this is John Martinez with Midwest Revenue Group, and this is REI Classroom. Today I want to talk about how to eliminate maybes and think it overs from your sales calls forever.
Mike: This show was sponsored by passiverental.com.
John: Most people are afraid of no’s when it comes to sales. They don’t want to hear no. They do everything they can to avoid being told no. But the truth of the matter is it’s not the no’s that kill deals. It’s the maybes and think it overs that waste our time and kill more deals than anything else. So what we really want to do to increase sales in the REI market is really eliminate those maybes and think it overs forever.
So we can do this by first just setting down expectation upfront. Whenever we talk to a prospect, whether it’s over the phone or face-to-face maybe at their property, we want to let them know that, “Hey, at the end of this thing, we’re either going to decide to take a step forward,” and that’s great, if that’s the case, “or we’re going to decide there’s no need to go forward from here.” And if that’s the case, that’s completely okay. We don’t do business with everyone we meet with. We don’t buy every home we walk into.
So we want to set that expectation upfront, and when you’re setting that expectation, it’s super important that you let them know that, if they say no, that’s okay. That relieves a lot of pressure, a lot of anxiety, a lot of fear. They won’t feel like they’re being pressured into anything. So yes is good. No is okay too. Set that expectation upfront.
When you get to the end of the sales call, even if you do everything right, chances are you could still hear a maybe or think it over. You’ve just got to stick to your guns. You see, sticking to your guns of, “Anything other than a yes is a no in my book,” when you do that, the prospect will, a lot of times, uncover those hidden objections and concerns right there.
Until they’re faced with really that fear of, “Okay, this guy might go away forever. It’s yes or no now,” until they’re faced with that, they may not have the right motivation to really let that concern or that objection out of the bag. So we set the expectation upfront and then we stick to our guns. Anything other than a yes is, by default, really just a no.
Now, another quick tidbit about this. A lot of people are afraid to go for the no because they think, “What if I kill the deal prematurely? Is that going to interrupt my follow-ups and the nurturing campaign that I want to toss them in after this?” Because a lot of deals do come after the initial visit. Well, here’s a beautiful thing. Going for the no, when you don’t get a yes, will set those campaigns up for success really.
Think about it this way. If you’re pressured by a salesperson to say yes and then you get a call or an email from them a day or a week later, what do you do? You avoid it. When you go for the no, you remove that pressure that, “I’m going to force you into a yes.” And they’re more likely to open up those nurturing emails and return your phone calls as you nurture them.
So eliminate maybes and think it overs forever. Yes is good. No is okay too. This is John Martinez with REI Classroom. If you want more information on what we do, you can find it at www.midwestrev.com. Thanks.
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Please note the views and opinions expressed by the individuals in this program do not necessarily reflect those of flipnerd.com or any of its partners, advertisers, or affiliates. Please consult professionals before making any investment or tax decisions, as real estate investing can be risky.
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