PARAMOUNT MORTGAGE - LENDER'S BLOG

Despite some of the best home-buying conditions in years - "fear of buying has infected the market," reports Les Christie, CNN Money reporter.

So, what sales techniques in a Realtor's arsenal will get their buyers to move on the good deals that abound in the market today? Take a few tips from "America's top real estate coach," Bernice Ross, and brush up on the "language of closing."

Shut up and sell  -  Agents often blow the opportunity to close their buyers simply because they talk too much. Don't waste your breath pointing out that "this is the kitchen" and "this is the laundry room." If your sales monologue consumes more than 50% of the showing, you're talking too much. Instead, let your buyers walk in front of you and listen for their comments. They'll give you clues on what interests them.

Use tie-downs  -  A buyer's favorable comment about the property presents an opportunity to help them make an emotional connection with the property. Use a question to "tie-down" their response. When your buyer says, "This house certainly has a beautiful view," a great tie-down would be, "It is a beautiful view, isn't it?"

Objections are closing signals  -  Many agents mistakenly believe that when buyers object they are not interested in the property. Instead, objections are almost always buying signs. The reason buyers object is that they are imagining what it would be like for them to live in the property and what they would need to change.

For example, when the buyer says, "This purple carpet is the ugliest carpet I have ever seen," instead of replying, "Well, you could replace it," ask a powerful closing question: "Would you expose the hardwood floors or would you replace the carpet with a different color?"

Alternative choice close  -  Always give your clients choices and then wait for them to make the decision. Don't make it for them.

For example, if you have a seller who wants to put a property on the market at $25,000 over the highest closed sale price in the neighborhood, offer the following choice: "You can price the property where it will sell next month or you can price it where it will still be listed next month. It's your choice, what would you like to do?"

Agree, counter, close -  When a buyer says, "I'm worried that prices may continue to fall," don't attempt to convince them that prices have stabilized. Use an agree-counter-close to overcome their objection:

Agree: "Mr. and Mrs. Buyer, let's assume that prices will come down another 10 percent. On a $250,000 price that means a drop of $25,000."

Counter: "On the other hand, if interest rates go up just one percentage point while you wait, you will pay $29,000 in additional interest with the higher loan rate."

Close: "So you now have an important decision to make. Are you going to buy now or will you wait and run the risk of paying additional interest if mortgage rates rise? It's your choice, what would you like to do?"

Ultimately, successfully closing the deal boils down to pinpointing your client's emotional triggers, asking plenty of questions, and remembering to "shut up and sell."