A trick that might help you make the close on a sale.

Nov 8, 2008

  1. Mark
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    Do you ever end up with a client that you just know that you not going to close the sale on?

    I had this client named Mike T. and I had spent about an hour on him already. We had figured out that his family would need $350,000 if he didn’t come home tomorrow. He had agreed with this amount. I came up with a good price, which I can’t remember; I think it was about $140.00 a month.

    He told me that he knew he needed $350,000 worth of coverage, but he just could not afford it right now.

    This guy was not a poor client; he had a brand new bass boat in his front yard and lived in a really nice home. So I thought he just rather spend his money on other things and thought he would just wait until later to buy the insurance that he knew that he needed.

    Now I’m going to tell you how I closed the sale.

    Whenever you know that you are not going to make the sale it is okay to make the client mad. What do you have to lose at this point? Sometimes by making him mad you can the truth out of him and then overcome his objections.

    I thought about attacking him on the fact that I thought he could afford the insurance or asking him if he really loved his family. But I didn’t do this with this client. I remember a trick that my father had taught me.

    I told Mike that I wanted to talk about some facts.

    Mike the fact is that in 5 mins I’m leaving this house. The fact is that you need $350,000 worth of insurance coverage today and you have agreed to this already. The fact is that it cost $140.00 a month for this coverage.

    I’m want to help you make the wisest decision today.

    I took a sheet of paper. On one side of the sheet I wrote $350,000 and on the other side I wrote $140.00. I tore the paper in half in front of him.

    In 5 mins the fact is that I’m leaving with one of these two sheets of paper. I’m either walking out the door with $350,000 and leaving you with your $140.00 or I’m walking out the door with your $140.00 and leaving you with the $350,000 worth of coverage. These are the facts.

    Which is the wisest decision that you could make today? I know you love your family and want to make sure they are protected today in case something ever happens to you. Mike I know $140.00 is a lot of money, but don’t you think your family is worth it and you will sleep better tonight knowing that your family is fully protected.

    He went and got his check book and wrote me the check.
    Mike you made the wisest decision today, and I thank you.

    I got two more referrals from Mike and I left with his check in my pocket and one hell of a sales story to tell.

    I have used this a couple of times on clients. Most of the time it works on them.

    Mark Rosenthal
    [email protected]
    www.realfastservice.com
     
    Mark, Nov 8, 2008
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  2. Charpress
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    I like that.

    I am seeing someone next week for a second appointment and I agree that you have nothing to lose in risking making someone mad if the sale is not going to happen anyway.

    I will try the torn sheet close on him. Thanks.
     
  3. Guest
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    Guest Guest

    Great variation on the take away close, and you can't lose a sale you weren't getting right?
     
    Guest, Nov 8, 2008
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  4. CHUMPS FROM OXFORD
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    CHUMPS FROM OXFORD Guru

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    "Whenever you know that you are not going to make the sale it is okay to make the client mad."

    Interesting.
     
  5. Charpress
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    "Mad" isn't really the right word and I don't think it was exactly intended.

    Anyway, is the client's family better off with the insurance or not? If it takes rocking his boat to make him see the light, then so be it.
     
  6. Crabcake Johnny
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    There's a misconception that if you put some pressure on people you're "hard closing" and the deal won't stick.

    I was sold life before I became an agent and trust me, just an hour before the agent came over I knew I wasn't gonna buy anything. I simply didn't see the need.

    The agent was great - did an analysis by turning to me and saying "you died yesterday" then turned to my wife and said "ok, explain to me what you'd do."

    I tried to say something and the agent laughed and stopped me: "Hey, you're dead - you can't talk."

    I played along...very interesting in what my wife had to say. She was clueless as to how she'd pay the bills and trust me, he went over all the bills.

    After the conversation the agent had with my wife I was a buyer.
     
  7. Charpress
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    Another good close technique.

    I think some wives might (deep down) sort of like thinking about hubby being dead and what they would do. The insurance proceeds make the possibilities all the better.
     
  8. ALG
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    Mark,

    I have enjoyed reading all of your post. You are always willing to share in detail your experience in this Industry. Post like this keep me returning daily to this Forum.

    Thank You
    Al
     
    ALG, Nov 8, 2008
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  9. new insurance girl
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    new insurance girl New Member

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    Wow! Awesome post & replies. Good info for a newbie!
     
  10. fostever
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    $350,000 face for $140/ month. Nice job. Was he 50 years old? Sounds like a non-med product which will issue fast. When you see a nice house and toys this may mean he's up to his ears in debt and the balloon payment maybe coming. I see poor people with lot's of expensive toys, but that doesn't make them financially sound. Fanny Mae and Freddie Mac had made a lot of folks feel all warm and fuzzy for a while. Hopefully the client wasn't 30 and healthy where he could have gotten $500,000 in coverage on a 20 year term for $20-$30 per month. You'll have to hope he has no insurance agent friends.
     
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