WHAT IS IT?
AND CAN YOU OVERCOME IT?
A shared passion for golf and fast cars creates an instant connection with your customer resulting in a dynamic presentation and strong buying signals. You ask if he has questions or concerns. He can't think of any. You confirm that everything meets his needs. But when you ask for the sale, the guy you thought you'd read so well delivers a surprise ending. "I need to think about it."
Whether you've been selling for 30 minutes or 30 years, you've encountered buyers who never make a decision without mulling it over.
"It" Drives You Crazy!
Unlike the customers who aren't sold on the tub/shower combination in the Master bathroom or the small pantry in the kitchen, the thinker's objection is as vague as a stomach ache. You don't know whether they need to ponder the whole package, a single item, or if their concerns involve something other than the home, community, or amenities, like finances or the need to sell their existing home.
I hear so many salespeople say, "It's impossible!"
- It gives us nothing to work with!
- When buyers make it clear that they never make snap decisions, nothing I say will change their minds.
- Some customers are just more cautious when making a major purchase. They prefer to review and consider the details independently before signing on the dotted line. How do you rebut that?
- I see this as a character trait, and you can't overcome an aspect of someone's personality.
- Hearing this is like being thrown into a pitch black room, blindly feeling for the exit.
It's true that of all the objections heard every day, "I need to think about it" has the power to push us toward an antacid overdose like no other. But if you're willing to take the time, learn the skills, and prepare, you'll find that overcoming it is far from impossible!
Clarify "It", Isolate" It", Overcome "It"!
You will never overcome this objection without finding out what the "it" is, so begin by clarifying the objection. When a customer wants to think it over, ask, "What exactly is it you want to think about? Is it the home's layout, color scheme, design? Is it the community, location, amenities?" By providing choices, you make it easier for them to be direct with you about why they're not buying, which provides you the information needed to overcome the objection.
Now, isolate the "it" to make sure nothing else is holding them back. For instance, if they say, "Well, I have to admit, I hadn't planned to spend quite this much," gain further clarification, then isolate. First ask, "When you say the investment is a little more than you had planned, is it the total investment, or is the monthly payment what you're concerned about?"
If it's a budget issue, say, "Since you're concerned about the monthly payments, why don't I get our mortgage company on the phone. In just a few minutes, they can estimate how much home you can afford and tell you exactly what your monthly payment will be. They can also recommend the best financing option and work with you on the down payment and extended terms. In about 20 minutes, you'll have the financial assurance you need to make this decision. Sound good?"
Or, if they need to sell their home first, say, “I understand. Since you are so pleased with the home and the offer, we can do the paperwork and make it contingent on the sale of your home so you don’t lose this opportunity.”
"I want to think about it" is actually an objection within an objection. Like peeling the layers of an onion, getting to the real reason for a buyer's hesitation requires skillful probing. Asking the right questions is key!
When They Stand Their Ground
No matter how hard we try, some buyers simply will not divulge the real reason for needing to think before moving forward. When this happens, always validate them, saying, "That sounds like a good plan. What do you think you'll do?"
About 50% of the time, your buyer's answer will reveal what's really going on and may end in a sale. The other 50% of the time, you'll just have to let them think about it.
Prepare for "It"
"I need to think about it" is one of the most common objections you will hear, so you need to become an expert at overcoming it. Brainstorm with your co-workers. Make a list of all the objections you could be faced with, then practice overcoming them.
What "It" Can Do for You
Failure to overcome this objection is the number one reason sales professionals evaluated via Video Mystery Shops last year scored poorly on Closing. But you can change that by clarifying, isolating, and overcoming "It" every time you encounter a buyer who needs to "sleep on," "think about," or "chew on" a purchase before signing on the dotted line.
Just remember . . . you will never travel through Impossible along the road to Success.
Until next time,