The true value of “No”

Myers Barnes new home sales NoAs a new home sales professional—or any salesperson—”getting to yes” is the ultimate goal. But so often, I come across those sales types who believe that getting a negative response is like a door shutting in your face. In reality, the true value of “no” should be seen as an opportunity. And if you’re an achiever, you thrive on opportunities!

What is “no”?

“No” is the beginning of a sales negotiation, not the end. When a prospective buyer throws the word at you, it could mean “maybe” or “not yet”. But if you take the word at face value, you’ll never know. 

“No” is a challenge. It is a decision waiting to be changed. This reaction presents you with the chance to switch into your sales superpower. You can guide the discussion away from “case closed” quite easily. Lob the response right back to your buyer.

“OK, help me out here. What exactly are you objecting to?”

Now you can zoom in on the basis of the objection. It might be price, location, or features, or a combination. It could be that this buyer isn’t yet convinced of the value of the home, which simply means you have to return to your differential demonstration. Review the key points that brought you this far and ask, “Is there something more you need in order to choose this home? What would that be?”

Sit back and listen carefully. The answer will guide the next step in your negotiation.

It’s not about price

Don’t jump to the conclusion that the objection is all about price. That’s far too easy of an out, and, quite frankly, your buyer is expecting you to respond with a price concession. You’re not doing your builder or yourself any justice by being too quick to reduce the price of a new home. You’re also not supporting your other buyers who are paying the correct price.

If you believe in the value of the homes you’re selling—and that’s an absolute must!—then either the buyer doesn’t share your heartfelt belief or this isn’t the right buyer for this particular home. In that situation, redirect the buyer to a home that presents a better fit.

Concession = Giving in

I also want you to understand that a concession is giving something without receiving anything in return. When a customer gets something for nothing, they believe that (1) the home was overpriced to begin with; or (2) they got a killer deal, one that they will likely brag about to other homeowners in the community. 

The next time you get a “no” from a homebuyer, get excited. You have the chance to strengthen your negotiation skills. Grow from no.

 

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