2015 NEGOTIATION STRATEGIES
The Process of Elimination Close
Many times, when you’re working with buyers and sellers, they may throw out a smoke screen by not letting you know what the real objection is. In some cases, they don’t even know why they aren’t willing to move forward.
This technique is used to determine what the real objection is with your buyer or seller. This close has great psychological benefits because it gets the buyer or seller into the habit of saying no. But, by eliminating the reasons why they may not be buying (or selling), your client is really saying yes, because each “no” answer gets you closer to a “yes”.
Here are some examples of how to use The Process of Elimination Close:
- “Mr. Seller,” it seems like you’re really interested in getting your home sold. You don’t want to keep paying for an investment that is going down in value, do you?
- And, you don’t want to run the risk of the economy getting worse, do you?
- And, certainly you’re not happy having this purchase hanging over your head, are you?
- Is it that you feel prices will be going up soon?
- Is it that you don’t think there is a risk of more depreciation if you wait?
- Is it that you don’t believe you could make more re-investing the proceeds of your home in another vehicle?
- Then what is it that is stopping you from making a decision to move forward?
- “Mr. Buyer,” I sense that you have a concern with moving forward. Is it that you don’t like the home?
- Perhaps, the neighborhood isn’t a good fit?
- Is it that you don’t believe the home is competitively priced?
- Is it that this home may not be a good fit for the kids?
- Then, what is it that is keeping you from moving forward.
In both situations above, your buyers and sellers are forced to identify the real objection to moving forward and you can focus directly on that one objection. If it’s price for example, isolating the objection down to the price will allow you to suggest to your buyer to make an offer they deem as fair. Remember these closes are designed to get the Buyer and Seller to take action to move forward. Once this happens, the negotiations begin. And, that’s another Cup O’ Joe!