The Science of Selling

Premier Reverse Closings

[2-minute read]

The art of selling is highly subjective and personalized. However, did you know that there are some scientific data-driven facts about best practices? The most successful salespeople have a system that incorporates most of the following points.

Consider the following and see if will tweak your approach.

1. Contact new leads in 5 minutes

When is a potential borrower’s interest level the highest? Correct! Right after they’ve made an inquiry. Consider the daily distractions you face each day at home and you’ll understand why time is of the essence.

2. Avoid mid-day calls

What do many retirees do in the afternoons? Generally, they’re running errands, going to doctor’s appointments, or visiting friends. Instead, schedule your calls for earlier in the morning or late afternoon. You’re more likely to catch them in a good mood- something that’s crucial to make a good fist impression.

3. Make a minimum of six attempted contacts.
One sales software company tracked the average number of attempted contacts before the salesperson reached the person who made the inquiry (lead). The data shows it generally takes six outbound calls to reach the other party. No contact equals no sale.

4. Avoid Mondays & Fridays

Twenty years ago when I was an independent insurance agent I quickly learned that Mondays were an awful day to attempt to contact someone for the first time. After all, who’s in a good mood on Mondays? On Fridays, I found most already have one-foot into the weekend. Schedule your paperwork and working loan conditions on Mondays & Fridays and make Tuesday-Thursdays your outbound call days.

5. The Alternate advance.
Whatever you do, never, never, ever ask a yes-no question in a close. Instead, use the ‘alternate advance’ where either answer is a yes. For example, when asking to set a follow-up appointment you could say, “Would Tuesday or Thursday be a better day to discuss this further?” If they say Thursday you could ask “would morning or afternoon be best?”. Then offer two different times for that timeframe. Avoid setting appointments right on the hour because they may assume that means you need an hour of their time. Try appointment times in 15-minute intervals: 12:45, 3:15, 4:30 pm, etc.

6. Talk less, listen more.
The more you keep talking the less time there is for the homeowner to reveal their motives and goals in a conversation. Break your conversation into topics and seek feedback…“are you comfortable with what we’ve discussed so far?”

7. Drill deeper.

Too often salespeople ignore openings to find or expose the potential buyer’s real motivations. If they express that they’ve been worried about retiring you should ask “what specifically do you feel is making you worried?” Drilling deeper into a comment with a follow-up question is not being pushy, but the prospect is likely to see that you were paying attention and actively listening.

*Bonus: Try to call from a local number instead of an 800 exchange.
An 800-number on their caller ID screams “salesman- don’t answer!”

Share your experience if you’ve used one or more of these sales strategies in the comment section below.

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