The Most Trusted Pitch In High Ticket Sales
Ryan Tanel
Offering Passive investments in multifamily apartments for Top Producing Realtors, Loan Officers, and Real Estate Investors
Investors,
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In this article I want to talk about how you can get more sales through effective high trust selling.
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My name is Ryan Tanel with Top Producer Investment Capital.? I own and oversee 225 C Class value add apartment units across 7 properties in Central Texas with an emphasis on renovations, and quick fix and flips to maximize LP IRR.? We syndicate deals with investors to allow the average investor to diversify their portfolio with passive cashflowing real estate investments.
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This is a method I learned after doing Todd Duncan’s sales training for mortgage loan officers back in 2017.? This was a 4 day intensive workshop that we took in Vegas teaching how to apply these sales techniques to close more mortgage loans, but I believe that it can and should be used for any type of product.? I am not affiliated with or sponsored by Todd Duncan, I just really resonate with what he teaches.? For anyone wanting to learn more, I’d recommend taking his courses.
Link to Todd’s Book: Book link here
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To explain the method simply, before making a recommendation/”pitch”, you need to understand the clients worldview, pain points, and needs.???????????
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For an easy example, let’s say we run a bakery.? Someone comes in and says they are “looking to buy a cake”.? A bad sales pitch is when the sales person comes out and says “Ah yes, I’ve got the perfect cake for you.? This is a wedding cake.? It’s our best selling cake by far.? It’s a 5 story cake.? We put a figurine of you and your future husband on the top of the cake, decorate it with chocolate covered cherries on the edges, and sprinkle edible gold flakes on the side.? The Most premium cake money can buy!”?
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To the person who just came into the bakery, unless they needed that specific cake, they would be turned off think that this salesman is just trying to push their most expensive cake on her to make the biggest commission.? There is no trust built.? The salesman’s motives are purely to gain profit for himself, not to solve the customer’s problem.?
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This is why sales people get such a bad rap as pushy.? They don’t understand the client’s needs, and their motives are for themselves, not for the greater good of the client.
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Let’s contrast that with the sales person who asks a series of questions about what the customer is looking for and learns that she needs a cake to celebrate a soccer championship for her son’s 8 year old team the Sharks at the party this Saturday, with a budget of $25.? When the salesman makes a recommendation for a screen-printed vanilla cake of a soccer field with soccer player figures, a ball, and a goal with edible gold flakes saying “Sharks Win!” delivered to their house Friday evening for $23.50, it comes across as wonderfully helpful for the customer.
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Skipping the interview part of the sales process is such a turn off for customers, because it shows the customer you are only interested in solving your need for more sales, and not interested in their needs.?
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(I am personally experiencing this right now shopping for cars and seeing how little car salesmen try to understand my situation before starting to pitch me).
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Cakes sales can be straightforward because there is a lot of variety and customization you can do with a cake, so the questions to ask during the interview are typically apparent.? Mortgage loans are hard to sell.? There are a ton of banks out there selling the exact same thing (Fannie Mae Conventional loans), it’s a secondary need because what people really want is the house they are buying (not the mortgage), it’s complicated to understand, and the only differentiation point between all the different options is the interest rate, right?? So it would reason that the only way to sell mortgages is to be the lowest interest rate, right?
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The high trust interview still applies, because the principles are still the same.? Until we know what problem we are solving for the customer, we are not yet in a position to make a recommendation for a product.? So often I would win sales over other banks because the first thing they would do is recommend getting a conventional loan at a 4.25% rate without knowing who they were talking to.
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Here are some of the questions I would ask new potential clients to make sure that they understood that I knew all of their needs before making a product recommendation:
-?????? What is your timeframe for buying a house?
-?????? Is it just you, or is there anyone else you want involved in this process?
-?????? Have you bought a house before, or is this the first one?
-?????? Why are you buying a house instead of just renting one?
-?????? How long do you plan to live here?
-?????? What’s your long term goals for the house, your family, your financial situation?
-?????? What does getting this house/mortgage do for you?
-?????? And many more…
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That last question is the most important though… “What would this do for you”?
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This is where we uncover who they really are as a person.? It will allow us to really drill down to find out exactly what they are looking for, and separate us from everyone else.?
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Often times the response that customers would give would be surface level, so we would have to ask the same question 4, 5, even 6 times to get to the real answer.
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We get responses such as
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Customer: “Owning this house is the best decision for my financial future long term so I can start building equity”.
Salesperson: “Yes… But why build equity?? What does that do for you?
Customer: “What do you mean? Of course building equity is great.? We get more money”
Salesperson: “Yes, you get more money, but what are you going to do with all that money/equity when you get it?? How is your life going to be different with more equity in your home?”
Customer: “Well… I guess it would give us some security.? The peace of mind that we won’t have to worry about being able to afford things in retirement.”
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Bingo.? Security/Peace of mind.?
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That is what they really want.? They came to us looking for a mortgage loan, but a mortgage loan doesn’t change anything about their life in real terms.? What they are really looking for is security/peace of mind, and building equity in a house overtime with the right mortgage loan is how they get security/peace of mind.
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Now, after I have spent 20 minutes figuring out everything about them, when I make a recommendation for a 1st time home buyer downpayment assistance program at a 5.75% interest rate which has mortgage insurance for the first 5 years but then wears off, gives them a $10,000 rebate on their down payment, and gives them the flexibility to upgrade to a forever home in 5 years, I can tell them that this option is the one that will give them the best “security/peace of mind” for what they are trying to accomplish.
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Other loan officers aren’t saying that kind of stuff.? Who do you trust more? The person that made a recommendation as his second sentence, or the one who spent 20 minutes getting to know your needs, you as a person, and then only after getting to the deeper reason of what this house will do for you long term, makes a recommendation that cures the core thing you are trying to solve for?? Peace of mind.
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High trust interview selling is so effective because it comes from a place of wanting to help people. ?If you truly want to help someone, sometimes the thing that will help them the most is only offered by your competitor, and the right thing to do is recommend that they go buy from the competitor instead of you.? You might not win that sale, but you will immensely gain their respect, your competitor’s respect, and likely referrals in the future for anyone who they meet that needs what you sell, because you actually had the client’s best intentions in mind.
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I will forever use high trust selling in everything I do, and feel like it is the best sales method out there these days for building lasting relationships with customers.
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If you are interested to learn more, I am hosting a “Real Estate Investing War Room” Live event this Wednesday at 6pm Central!? This is a virtual event where we bring on wealthy successful investors to interview them live about their most difficult deals, and the lessons they have learned.? Audience participation and questions / comments are encouraged so we can start a lively debate, and learn and grow together as investors.
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Sign up to the War Room Event Here: https://www.dhirubhai.net/events/realestateinvestingwarroomlive7116031149193273344/theater/
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For more information on our portfolio, investing strategy, or to learn more, check us out:
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Youtube: https://www.youtube.com/@TPICRyan