Listening and Negotiations

What is the first sales skill you should learn?

Listening  It makes your customers feel important and special.  We find out what we need to know.  We must find their need/pain before we can start to sell.

Who is in Control The person listening is making decisions, planning and guiding the conversation while you are talking. The person talking? The person asking questions and stopping to listen?

Ask Open Ended Questions  What?  Why?  When?  Where?  How? Open ended questions cannot be answered yes or no, must give you information

Ask Clarifying Questions Repeat what they just said, ask for an explanation. Lead to a decision. Example: “You plan to list the property after school is out for the summer, is that correct?”

Support with Body Language  Nod  Lean Forward  Arms Uncrossed  Make Eye contact  Stay Focused  Paused Before You Respond

Have a “I will learn something” Attitude Make learning your objective, not showing them how much you already know. You can usually learn something from any conversation; you can’t learn anything while you are talking. Find Areas of Interest – Talk about what they want to talk about. Weigh evidence carefully – consider what is being said and why. Responding too quickly makes it seem as if you don’t care.

Listen more than you talk!!! “we have 2 ears and 1 mouth for a reason.” - Ray Sperry

Listening Tips  Summarize what you hear – “So you are going to be moving in August and you need to sell before then, etc.”  Every time you listen try to learn something new – Ask yourself what you learned, go into the session with a goal to learn a specific thing. What are some of the things you want to learn?  Listen with an open mind – do not assume!  Look pleasant when you listen.

Listening Tips (continued)  Let the other person speak first. Why? –1 st Rule of Negotiations: Don’t get so excited that you interrupt  Resist distractions – Block them out and focus on the person speaking  Focus on ideas first – What is the person trying to say?

Be ready to listen – get settled, prepare to listen, block out other thoughts

Listen with your eyes as well as your ears

Secrets of Negotiating Roger Dawson

The Game Plan  ALWAYS know your competition better than they know you.  NEVER jump at the first offer no matter how good it looks.  ALWAYS nibble, pick up the after the decision is reached, counter gently, don’t make them feel cheap.  ALWAYS show reluctance even if the offer is acceptable.

Never Assume  You have the weaker side in the negotiation because it is something you want.  You know the other person’s objective.  You know the other person’s position.  The other person is truly expressing their views and ideas.  The other person is less flexible than they are.  A better price is always the point of negotiation.  Anything.

The Players  Legitimate Power – Designation or title  Reward Power – The perception that you will be rewarded  Coercive Power – Punishment or fear of punishment  Congruent Power – A consistent set of values. They do what they say they will do.  Charismatic Power – People like you.  Expertise Power – You think the other person knows more than you do.  Situation Power – Goodwill, etc.  Information Power – Sharing information forms a bond, withholding information intimidates. The 8 Elements of Personal Power

The Playbook 1.Refer to a higher authority – your broker, the seller, your spouse, the board. 2.Isolate the objections – one at a time. 3.Close for a quick decision, the faster they decide the better chance you will have of getting what you want. 4.Appeal to the person’s ego. 5.Get a commitment to recommend that the higher authority accepts your offer. 6.The value of services diminishes rapidly after the service is performed, so agree on the price first. 7.Hot potato – Don’t let them make their problem yours. 8.Never give up a point without asking for something in return. 9.Good guy/bad guy – car dealers do it. 10.Get little decisions first.

The Playbook (continued) 11.Project a willingness to walk away. The person who does this best will win. 12.Withdraw an offer at the last minute to make this happen. 13.Position for easy acceptance. 14.Style flex according to personality styles. Get on their wave length. 15.Ask what they want first. 16.Put it in writing, people believe what they see in writing. 17.Compliment the other person on their negotiating skills. 18.You are always negotiating.