I’m in sunny Florida for the next two weeks on business/pleasure (of course there is always business in there for the tax deductions from our favorite Uncle.)
As I was getting my rental car at the airport, the guy at the counter asked me if I wanted the ultimate coverage insurance or the collision only. What this guy did was use the “yes or yes technique” or the “yes or yes” close. It is one of the best sales techniques around and if you are not utilizing it you are probably losing thousands of dollars worth of deals every year.
When the rental car employee asked me which one I wanted, I had to think for a split second and realized that I didn’t want either of them. This is such a powerful technique because when people are given two choices they automatically think they have to choose one of them. Another example is an owner of a pool hall near my house who uses this technique brilliantly. Every time that I walk into the pool hall he asks me if I would like a beer or would I like an appetizer (I bet 90% of the people choose one or the other and that very few people say neither……….except me. I’m just there for the pool and to take other people’s money. See, I believe in the use of OPM in everything I do, not just in real estate.)
After I have evaluated a property and I know that there is a deal to be had, I ask the seller “Mr. Seller would you like to set up a visit for Tuesday at 7 or Wednesday at 6, which works best for you?”
One of the most important ways that I use the “yes or yes” technique is by presenting multiple offers to a seller. Never, ever, present just one offer to a seller. If you present only one offer to a seller, then it is very easy to say no and you will not close many deals this way. I always present a minimum of two offers and many times three offers. My two offers are going to be a cash offer and a subject-to/lease option (terms) type offer. Even if I know there is no way the seller will do a subject-to, I still present the offer (this is extremely important to remember.) Even if your seller said there is no way you can take over his payments, still give him two offers so that he can choose your cash offer.
So when I am meeting with a seller, I say “Mr. Seller would you like our cash offer of x amount of dollars, or would you like us to take over your payments and you will receive x amount of dollars at closing? Which works best for you?”
There are many more ways to use this technique, such as when setting a closing date: “Mr. Seller, do you want to close on September 22 or September 25”? Or when you are purchasing a real estate course: “Do you want to pay in full, or would you like the easy payment plan of only $19.95 a month for 120 months”?
Well, I am back to the 500 degree Florida heat, sweating to death. So the next time you are meeting with a seller, are you going to present two or three offers?