NEGOTIATION 101 7-LAWS FOR SUPER SUCCESS

Tom Farwell
Copyright 2009 Tom Farwell

MARKETING AND SALES

Marketing Purpose Sales Purpose

Creates Leads

Converts Leads to Cash

THE BIGGEST CHALLENGE

What is the #1 Challenge facing real estate investors after their marketing has created leads?

Answer: Increasing their effectiveness when communicating to others (buyers, sellers, bank personnel).

INCREASED EFFECTIVENESS & RESULTS

Improving your closure rate requires the combination of increased seller contact time and effective communication.

NEGOTIATION 101
The 7 Laws
Keep it SimpleDont talk in jargon Keep em saying Yes Be enthusiasticYou actually do like being an investor? Show and then tellEyes first and then ears Call em by name Always agree Ask questions The last 3 are the most important

4-STAGES OF EFFECTIVE COMMUNICATION

Attention
In marketing, we use Unique Selling Proposition

Interest
Have to spur their interest fast to keep them reading

Desire
Whats in it for them

Action
Need to tell them what to do next.

6 KEY EMOTIONS
FEAR LOVE

GUILT

PRIDE

LOSS

GAIN

MOTIVATION
Pain Pleasure Benefits

IDENTIFY PROBLEM-AGITATE-SOLVE
Identify the Problem Hot Button Agitate the Problem Agitate the Problem some more Solve the Problem Close the Negotiation Follow Up

OVERCOMING OBJECTIONS
Call em by name Always agree Ask questions

LAST BUT NOT LEAST

Assume the Close