Ch. 8 Key Selling Skills/SPIN

Question 1

What did Harvard find in their study on top salespeople?

Answer 1

• Did not take “no” personally
• 100% acceptance of responsibility for results
• Above-average ambition
• High levels of empathy
• Intensely goal-oriented
• Above-average will power
• Impeccably honest
• Ability to approach strangers

Question 2

Define Sales:

Answer 2

Working with clients to create a vision of a future possibility that is compelling enough to change their actions in the present”

Question 3

What is the Overview of the Selling Process?

Answer 3

1. Create a Long-Term Relationship
2. Rapport and Credibility
3. Information Exchange
4. Determining the “Value-Added” Strategy and or Solution
5. Presentation of the Recommended Strategy
6. Identify the Clients Concerns and Objections
7. Overcome the Clients Concerns and Objections
8. If Appropriate, Encourage the Client to Take Specific Action (Closing)
9. Strengthen the Long-Term Relationship

Question 4

What is the “Point of View” Selling Model?

Answer 4

1. Have a Goal for Action
2. Have a Strong Personal Point of View
3. Have an Understanding of the Clients Point of View
4. Change the Clients Point of View
5. Demonstrate the Benefits
6. Encourage the Client to take Action Step

Question 5

What is important to add in conversations with sales?

Answer 5

Sales Aids, Testimonials, and Deal Stories

Question 6

Why is it important to Understand and Overcome Objections?

Answer 6

Objections are a critical part of the selling/negotiating process and are extremely valuable to the experienced agent.

Objections:

• Reveal the clients position of specific issues, thus enabling the agent to respond directly to the problems/concerns.
• Provide specific areas for discussion and help to establish which issues the client considers to be most important.
• Provide an excellent opportunity for convincing the client of the value of representation without the appearance of a canned sales pitch or infomercial.
• A measuring stick which reveal where the agent stands with the client
• When overcome, increases the momentum of the agent and provide opportunity to encourage the client to take action

Question 7

Why do Clients Raise Objections?

Answer 7

• The client does not understand some part of your presentation and is asking for clarification
• The client is communicating his/her disagreement with a particular part of your presentation
• The client is building a long list of objections to strengthen his/her future negotiating position
• The client has doubts about the agent, the firm or the need for our services
• Or, because there is no real need or motivation for the client at this time

Question 8

What are the TWO types of Objections classified as?

Answer 8

1. Rational Objections: Usually raised during the presentation of info or ideas for straight forward motives and require a serious response.
2. Irrational Objections: Usually raised during the closing stages of the selling process for ulterior motives and do not require a serious response.

Question 9

How do you create a Good Environment for Overcoming Objections?

Answer 9

• Understanding: Be empathetic to the clients objection. A sincere concern for the clients may reduce the difficulty of the process.
• Cooperation: Approach the process in a partnering manner. Avoid direct conflict if at all possible.
• Confidence: Be confident, an agents level of confidence can actually influence the number of the objections a client will raise.
• Image: The business manner of the agent, the quality of the presentation and even the agent’s dress can raise or lower a clients confidence, which can lead to more or fewer objections.
• Preparation: The prep an agent puts into a presentation will determine how well he/she responds to the first few objections. Overcoming the first few objections with confidence and with arguments which are well supported with logic and supporting data can reduce the number of objections the client will raise.
• Control: The manner in which the agent controls the apt will influence the number and types of objections. Have an agenda, be proactive and reactive, be prepared, be aware of the facts, be committed to agenda, control issues and Control is developed by adding value to the process.
• Momentum: An effective agent who maintains a good level of momentum in the appointment will influence the number and types of objections that will be raised.
• Do Not Magnify Objections: Agents who magnify objections by spending unwarranted time on them will increase the difficulty of overcoming the objection and might make the client believe the objection is more serious than they thought.
• Anticipatory: Agents should have a sense of what objections the client might have based on previous conversations

Question 10

What are the 4 Steps of Overcoming Objections?

Answer 10

1. Clarify Objection
2. Acknowledge Objection
3. Isolate Objection
4. Table or Overcome Objection

Question 11

What is rule #1 of Negotiations?

Answer 11

NEVER GIVE SOMETHING WITHOUT GETTING SOMETHING IN RETURN