I was hustled!
It actually happened to me over the holiday’s while doing some last minute Christmas shopping. Scurrying around the mall, I heard “excuse me, can I show you something that is amazing and will take only 1 minute?”
My guard was down and I fell for it. What was supposed to take 1 minute turned out to be a 20 minute, no obligation demonstration for a nail care gift that according to the sales woman, “my wife would love.” As soon as she proceeded to apply dead sea sand salt to my hands I knew I was trapped! The whole time I was thinking to myself, “I have to get out of here or I will be late, but how?” Then the moment came, I had my out, the nail care product she was selling was only $39 so I agreed to buy it. The sales woman quickly rang up the bill, wrapped the gift and proceeded to start wrapping another. Hold on I said, I only wanted one.
“But Sir, if you only buy one then the price is $59, you need to buy two to get them for $39…”
Wait a minute…
I was stuck, I had already spent 20 minutes of time I didn’t have, rushing to finish my Christmas shopping. I looked at the time on my phone and realized I was running late. I’ll take two and tell my wife to give the other one to someone else as a gift, I justified to myself.
Have you ever been pressured into buying something you didn’t really need, due to high pressure sales tactics?
The product itself was ok, however it was over priced and wasn’t something I intended to buy as I had already bought the gifts I wanted for my wife. So there I was, a proud owner of 2 new nail care kits that if I took a few minutes to think it over I’m sure I could have found a better product for much cheaper. It was Christmas time, I was hurrying through the mall and my guard was down. I was the perfect target for a good sales pitch.
In hind site, I’m glad I bought the nail care product, not because it was a great gift (my wife doesn’t use it) but the experience reminded me that almost anyone can give into high pressure sales tactics in the right circumstances. No big deal on a $59 product but what about when we are talking about hundreds of thousands of dollars, as in the case of a typical home sale?
High Pressure Sales Tactics in Real Estate
Just like every other realtor, when I first started in the business, I was given a 50 page document filled with sales scripts on how to overcome every objection that a home seller might give. I was told this was what realtors did, and that by knowing your scripts you could overcome these objections and ‘close’ the deal. Agents are told “Don’t take NO for an answer, and be persistent, it usually takes 4 no’s to get a yes…” A great deal of a realtors training centres around creative ways of convincing people to say yes.
Just so you know, this low information advice is industry wide regardless of company. In fact, most real estate agents even use the same scripts despite the fact they work for different companies! A good sales script is designed to get you to do what the sales person wants, which in most cases is sign a contract.
When I first started in real estate, I failed to realize that the industry didn’t think the way I did. It isn’t negotiating or marketing a property that the trainers and coaches focus on, it’s closing and getting the client to sign a listing agreement. This leads many agents to say, promise and do whatever it takes to get you to sign, regardless is it’s realistic or not.
I refuse to operate this way.
So how do you avoid being hustled and dealing with high pressure sales tactics? Know what you want, do some quick research ahead of time and finally make a game plan and stick to it.
- Take a few minutes to think about what your biggest challenge will be when selling a home and look for realtors that specialize in what you need help with.
- Do a google search on the agent(s) you are considering BEFORE you meet them. Do they have a good internet presence? Are they involved in the local community, do they have testimonials and other information that may give you a hint as to what you might expect if you were to hire them?
- If they mention social media in their marketing, check it. Is it interesting and creative? Do they actually use the service they are claiming?
- Do they have industry credibility? Aside from self proclaimed sale numbers, are they a published author? Do they blog? Are they an industry speaker or trainer?
- If they send you any pre listing material take a look at what they are promising so can compare with what they promise in person
- If you feel like you are being ‘sold’ it’s because you are. Realize that you don’t have to sign anything right away.
Unlike beauty products, when it comes to real estate I do know what I’m talking about. While I don’t use high pressure sales tactics or scripts, they are common and you should be aware ahead of time.
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