280: Buying Signals

On one episode of Shark Tank, someone demonstrated the "Man Candle" which is of course a line of candles that smell like golf courses. But ... Have you seen how smug and self-satisfied these inventors are after they give their pitch. They are even shocked when the investors give negative feedback. The crude, rude and brutal feedback is what we all enjoy seeing, it's the reason the show succeeds, and for psychological reasons I don't have time to explain, we love the feeling we get when we hear Mr Wonderful say, "This is the suckiest suck that ever sucked!" It's so important to understand, this is a TV show that entertains by having rich investors verbally destroy ideas like Man Candles, Pet Paint or Wired Waffles (all real products.) On a side note I just filed a lawsuit with a tenant of mine that hasn't paid his rent in two months---3 days later I got a letter in the mail from Judge Judy inviting me on the show—im probably gonna do it because if I win ---I will the show will pay me instead of me trying to collect from my deadbeat tenant. Anyhow---lets get back to how actual buyers in our case people that want/need to list their homes. In the real world, where we all actually live ... our listing prospects do not rip you apart. They do not say funny and shocking things like ... - Don't call me, I'll call you. - I'm not trying to make friends, I'm trying to get my home sold for the most money.. I actually wish my prospects would say those things that way I would know exactly where I stand. Unfortunately, when they lose interest, when they know for certain they will not buy my products or services, when they want to get out of the meeting, these are the things they will do: Smile, laugh and give encouragement Ask easy softball questions Being overly interested in the tiniest product details Giving you positive feedback and helpful advice during the presentation Wait a second-----Aren't these things people do when they are interested? Doesn't engagement, questions and positive feedback show buying intent? Not in Enterprise Sales. Not in Venture Capital. Not in Private Equity. Not in the Fortune 1000 and most of the time not in the living room of that million dollar listing If you're out asking to list someones biggest asset, these typically are NOT good signs. In a weird twist, it's exactly the opposite: these are all signs that you have lost your audience. What should be happening? 1. Instead of laughing and quipping jokes they should be leaning forward and looking concentrated (focused on all the new & interesting things you are introducing.) Instead of asking questions on irrelevant facts or sidebar topics, they should be taking notes on the presentation -----this happens to me in every presentation. Instead of giving you advice they should beaskingfor your advice. And if they really aren't understanding your key ideas, they should be giving you direct and brutal feedback that the meeting is off-track. Getting direct, somewhat rude and even brutal feedback can be great, because you know where you are in the sale. Of course it's not a positive sign, but now you can adjust quickly. So, Is there anything you can do if your audience is just feigning interest? What to Do: When they are smiling, joking, laughing: I will laugh along for a bit and then get extremely serious. Say "it's all fun and games until you blow 50K and 6 months before you realize your marketing isn't working" Don't give long-drawn-out answers to basic softball questions. Answer simple, no-brainer questions with ever shorter statements. Shrug those off. "That's always a good topic, but we have limited time here so let's focus on the big stuff…" Don't let them give you advice. Cut that conversation thread off immediately. You're the expert, you know this product better than anyone, and you're here to make a sale or close a deal. Today, you're not looking for a mentor, you're looking for a buyer. Stay focused onthat In the final analysis we all needed to be more guarded and observant for real buying signs. What are the false buying signs that you often see? Send them to me and I will publish them in a blog. If you have colleagues who should know this, share this article with them and see if they agree. If you want to get serious about growing your business go to www.superagentslive.com and check out our grow your business tab. Toby