Making the best decision regarding when to buy or sell is usually one of the most important life-changing decisions a person can make. Ben Franklin was considered both one of the most innovative inventors and greatest statesman ever in the United States.
When Ben had to make an important decision, he would take a blank piece of paper, draw a line down the middle, and put the pro’s on one side of the line and the con’s on the other. He would then carefully compare the lists to determine which side made the most sense.
This is a great approach for agents to use to help a buyer or seller make the best decision. Armed with the most compelling arguments, an agent can sway the decision in favor of what is logical for their client. Before meeting with your clients, create a rough draft of all of the reasons that a seller should price reduce and sell now, and another rough draft of all of the reasons that a buyer should buy now.
When you actually meet with your prospect, take out a blank piece of paper and suggest they look at the pluses and minuses to their decision.
For sellers – Help them fill out many reasons why it makes sense to sell now. Then, ask them to write down the reasons why they should wait (don’t help them). They are likely to put just a few down. By comparing the two lists, it becomes obvious to the seller that they should sell now. Leave a copy of the list with them so it sinks in.
For buyers – Help them fill out many compelling reasons why it makes sense to buy now. Then ask them to write down the reasons they should wait (once again, don’t help with this list). By comparing the two lists, it becomes obvious that its almost always foolish to wait. Leave a copy of the list with the buyer so it sinks in.
|FOR YOUR BUYERS|
|Buy Now (Pro’s)||Buy Later (Con’s)|
|FOR YOUR SELLERS|
|Sell Now (Pro’s)||Wait to Sell (Con’s)|
- Be sure to help them come up with all the “pro’s”.
- Be silent and let them identify the “con’s” by themselves.
- Then ask them to compare the “pro’s” and “con’s”.