Chapter 7 | STEP 2 OF THE POWER PROCESS: DISCOVERY

Question 1

Why should you go through the process of discovery?

Answer 1

• Discovery determines wants, needs, and desires.
• Discovery provides you with the prospect’s financial status.
• Discovery provides you with the prospect’s financial parameters.
• Discovery determines which parties are involved in the decision to own.
• Discovery determines time frame.
• Discovery reveals your competition.
• Discovery helps eliminate objections before they appear.

Question 2

The Five Categories of Discovery

Answer 2

1. Area - sell from the outside in.
2. Time Frame - determines the sales presentation, urgency and follow-up procedures, when you can close the sale, and when you will be paid. (time frame and financial resources normally will coincide with one another.
3. Financial Resources (MONEY)
4. Authority - who is responsible for the purchase decision.
5. Wants, Needs, and Desires

Question 3

Bank Financing Categories

Answer 3

1. Down Payment or Initial Investment

2. Monthly Payment or Monthly Investment

Question 4

Why ask questions?

Answer 4

• Understand you prospect better.
• Lock in on the prospect’s needs and how they relate to a new home or homesite.
• Know why it’s important to meet those needs.
• Establish a relationship with the prospect my practicing the law of reciprocity - a mutual exchange of information.
• Create a more professional image by being a more informed salesperson.
• Determine the prospect’s buying power.
• Recognize who all the decision-makers are.
• Learn about you prospect’s passions and motivations in purchasing a new home.
• Place the prospect at ease. Remember your prospects are uncomfortable when they walk in the front door of your sales center or model home. They are in unfamiliar territory. By engaging them in relaxed conversation, you can ease their anxiety.