Whatever product or service you are selling, you will always hear the statement: “Your price is too high.”
People have been conditioned from an early age to bargain for the lowest possible price. This is almost a hereditary trait. As a professional salesperson, it is important to understand that the customer does not always mean this, or more importantly, does not always believe this.
Saying this is part of the buying process!
You should always expect it, and have several methods of responding to it in a natural and positive manner. If you cannot overcome this simple "objection”, you will never achieve the sales success you desire - no exceptions. Below are some points to consider in approaching this objection.
1. People Like to Bargain
Expect this from every customer you talk to. In fact, if you do not hear it, then you may not have a serious customer. Develop ten reflex responses for an immediate reply. Role-play with other agents on your staff. Understand the importance of responding without hesitation. Learn some humorous comments to include in you replies. Humor does wonders to overcome tension and create a positive rapport.
2. Create Value in Your Product
Price is a function of value. Creating additional value that your customer has not seen in competitors’ products will tilt the scale of value in your favor. Learn to feature-benefit all homes. Spend time developing ten pertinent items in each home you can share with your customers. Ask your customers what is important to them, then concentrate only on those items. Comments like “This will benefit you because…”, “This will address you concern about…”, “Can you imagine what this will mean for your children…?” These trial close comments all will lead you one-step closer to a final “YES”.
3. Buyers Fear Cheap Products
The customer may be trying to convince himself that your product is not a cheap product. By making this statement, he is asking you to convince him that your product is superior to your competition. This is a clear buying signal. Your confidence in responding effortlessly will lead your customer down the path to home ownership.
4. Understand What Your Customer is Saying
Learn to recognize this comment as a buying signal. Capitalize on this opportunity! Take the time to ask trial closing questions that will lead you further down the sales path.
Today's Featured Article is contributed by Dennis Miller. Based in Greensboro, North Carolina, he has over 20 years of management-level experience within the real estate industry. Check out his RESAAS profile ›