#4 – My Information is Proprietary
How do you determine how much information to give to a buyer or seller before they officially become a client? This is a difficult question to answer. All too often, agents will give unlimited advice to their prospects in the hopes a prospect will agree to let the agent represent them, only to have the prospect use the information and never hire the agent. Worse yet, the prospect may share the valuable suggestions with another agent they decide to hire instead of you!
So, how can you determine how much advice to give away for free to get the business, without making the mistake of educating your prospects for free? Let’s take a look at the answer. First, you must weigh your goal or objective against the following business principles:
- The way to get everything out of your life is to help as many other people get what they want out of their lives.
- Don’t give your services away for free, or your buyers and sellers won’t need you anymore.
The solution to both approaches lies in blending the two together. Give your prospects enough information so they can appreciate the value they will get if they retain your services. At the same time, don’t give your prospects the best information you have until they have made the decision to let you represent them. Remember, if you give them all of the answers, they may not need you. Worse yet, they may share that with another agent they have chosen instead of you. Either way, you have given away your services for free.
How is this strategy applied?
- Select one or two of the compelling strategies you would apply, (never give them the best strategies.) Remind your prospect that you have a whole repertoire of tools like these that you will be happy to share with them once they are clients. This is also an ideal way to start a relationship because you will set yourself up to “Under-Promise and Over-Deliver.”
- In your meeting, give your prospects the best information you have in the form of research material and strategies. Explain how powerful this information will be in helping them meet their goals or objectives. Then, take the information away from them, while explaining that:
“This information is proprietary, but I always share it with my clients. Once you have retained my services, I will be more than happy to share everything I have with you.”
So, the next time you try to impress a prospect by giving everything you know to a client, remember to hold back, or take-back the best stuff until after they become your client.