Everyone needs something to boost their spirits when they are down. Especially sales people who have to be “on” all the time for a living. In this market I am finding my Sales People are feeling pretty beat up. What do you do to boost yourself up???
Archive for September, 2010
Brett Arends explains why owning a home is a good thing.
Enough with the doom and gloom about homeownership.
Sure, maybe there’s more pain to come in the housing market. But when Time magazine starts running covers that declare “Owning a home may no longer make economic sense,” it’s time to say: Enough is enough. This is what “capitulation” looks like. Everyone has given up.
After all, at the peak of the bubble five years ago, Time had a different take. “Home Sweet Home,” declared its cover then, as it celebrated the boom and asked: “Will your house make your rich?”
1. You can get a good deal. This is a buyer’s market. Most of the other buyers have now vanished, as the tax credits on purchases have just expired. We’re four to five years into the biggest housing bust in modern history. And prices have come down a long way— about 30% from their peak, according to Standard & Poor’s Case-Shiller Index, which tracks home prices in 20 big cities. Yes, it’s mixed. New York is only down 20%. Arizona has halved. Will prices fall further? Sure, they could. You’ll never catch the bottom. It doesn’t really matter so much in the long haul.
Where is fair value? Fund manager Jeremy Grantham at GMO, who predicted the bust with remarkable accuracy, said two years ago that home prices needed to fall another 17% to reach fair value in relation to household incomes. Case-Shiller since then: Down 18%.
2. Mortgages are cheap. You can get a 30-year loan for around 4.3%. What’s not to like? These are the lowest rates on record. As recently as two years ago they were about 6.3%. That drop slashes your monthly repayment by a fifth. If inflation picks up, you won’t see these mortgage rates again in your lifetime. And if we get deflation, and rates fall further, you can refi.
3. You’ll save on taxes. You can deduct the mortgage interest from your income taxes. You can deduct your real estate taxes. And you’ll get a tax break on capital gains—if any—when you sell. Sure, you’ll need to do your math. You’ll only get the income tax break if you itemize your deductions, and many people may be better off taking the standard deduction instead. The breaks are more valuable the more you earn, and the bigger your mortgage. But many people will find that these tax breaks mean owning costs them less, often a lot less, than renting.
4. It’ll be yours. You can have the kitchen and bathrooms you want. You can move the walls, build an extension—zoning permitted—or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible. You’ll feel better about your own place if you own it than if you rent. Many years ago, when I was working for a political campaign in England, I toured a working-class northern town. Mrs. Thatcher had just begun selling off public housing to the tenants. “You can tell the ones that have been bought,” said my local guide. “They’ve painted the front door. It’s the first thing people do when they buy.” It was a small sign that said something big.
5. You’ll get a better home. In many parts of the country it can be really hard to find a good rental. All the best places are sold as condos. Money talks. Once again, this is a case by case issue: In Miami right now there are so many vacant luxury condos that owners will rent them out for a fraction of the cost of owning. But few places are so favored. Generally speaking, if you want the best home in the best neighborhood, you’re better off buying. » More: 10 Reasons to Buy a Home
Trust is something one earns and is certainly required in order to make a sale. Without trust, there is no rapport or connectivity and your sales cycle will take longer than it should and possible without a good result. So in any sale, you need to first gain trust. Gaining trust is the first objective in the Selling Cycle. Building Rapport will gain Trust quicker than anything and the two go hand in hand. As in any relationship you must have rapport and trust usually is intermingled somewhere along the line.
I believe you must also have a sincere, trustworthy personality and people will know that on an intuitive level. Most times people can pick up someone who is not interested in their best interest and feel it. You know how some Sales People give you the creeps! So having an internal trustworthiness is important before you start any outward techniques.
How do you secure trust in your sales approach today?
1. Do talk about yourself, your years in the business, reputation…
2. Do talk about your Builder, years in the business, reputation, quality…
3. Find out what interests the prospect, such as sports, hobbies…fun stuff.
4. Find out about their situation, their family, their work, their life.
5. Offer a firm handshake, when appropriate.
6. Giving them your time and undivided attention.
7. Knowing and using their names.
8. Being truly genuine and “Real”, not a phony baloney Sales Person.
9. Being genuinely interested in them and their needs and wants.
10. Asking great questions and providing solutions for their needs.
11. Finding commonalities with your prospects.
12. Sharing your own experiences and stories.
Making sure you follow up with things that are meaningful to them, secures that trust you built. It lets them know they were important enough, that you heard them, listened to their needs and are taking the time to provide solutions to their needs. I can assure you, your competition is not.
I don’t know about you but from my own experience, I always do business with the Sales Person who showed the most interest in me and went out of their way to help me solve whatever need I had. I never do business with Sales People who blow me off and treat me as if my business didn’t matter.
Remember in Sales it’s always SHOWTIME! And I am here to make you great at what you do!