Presentations – 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 give unlimited advice to their prospects in the hopes that they can represent them, only to have the prospect use their information and never hire the agent. Worse yet, the prospect may share their valuable suggestions with another agent they hire instead!
So, how can you determine how much advice to give away to close business, without making the mistake of educating your prospects for free? Let’s take a look at the answer. First, you must weigh your goals and objectives against the following business principles:
- The way to get everything out of your life is to help 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 them the best information you have until they have made the decision to let you represent them. Remember, if you give them all the answers, they may not need you. Worse yet, they may share them with another agent they choose 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 prospects 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 them everything you know, remember to hold back or take back the best stuff until after they become your client.
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