Ah, the Ben Franklin. Not Mike’s favorite, but one you should know and understand because there is a time and place for it.
- It takes too long
- Limited capacity in real estate
- It uses logic – when most home buying decisions are largely emotional. See the conflict there?
- People tend to buy what they want, not what they need. Since the Franklin close also touches on needs, again – not a good fit for real estate.
That said, it’s worth learning so you have a solid knowledge of what type of close works for a particular situation. For example, when nothing else is working, or, when your prospect is a hardcore analytic. This describes only a small part of the general population.
When the Franklin Close comes in most useful is when you have a person who is deciding on the home emotionally, but need to justify that they are buying logically.
Now, brokers – the Franklin Close really comes in handy when you’re recruiting.
This series includes all of these closes:
- Alternative of Choice – The first close everyone should learn. Also known as “the appointment setting close.”
- Tie Down – Set your client up for a “yes” answer.
- Porcupine – Turn a negative around using this technique, get to the bottom of any objection your client may have, and get past it to the close.
- Questions are the Answer – aka “in your opinion…” – A twist on uncovering the reason behind an objection. If you’re asking the questions, you’re in control.
- Trial Balloon – Go from closings being a weakness in your business game to a strength with this tried-and-true method.
- Sharp Angle aka Trade-off – The Sharp Angle close isn’t always the best for real estate, but keep it in your back pocket – you never know.
- Direct Order – Tell the buyer or seller what you want them to do. Psst – here’s where confidence is your biggest asset.
- Hat in Hand – aka “Level with me” – Shelve your ego for a bit and humble yourself. It can go a long way toward that close.
- Jump Shift/Change Topic – This one requires some finesse, but with practice it can be highly effective.
- Assumptive – Just keep right on going on the assumption that they are going to do whatever it is you are trying to accomplish.
- Defer and forget – aka “Let me make a note of that.” – Basically, “Let’s not talk about that just now.”
- Just ask already! – Get over your shyness. Ask for the order, ask for their business, ask for their trust!
- Ben Franklin – This one CAN work, but it’s best on analytic thinkers. Help them weigh out the pros and cons
- Last Resort – Only after you have nothing to lose….”What the ___ do you want from me?”
- The most important close of all: “No, but I can get it.”
Do you have additional questions on this topic or want us to start a new discussion for FREE Broker School? Join the #freebrokerschool conversation – Leave your comments right here on our blog and continue the conversation. We want you to have any real estate tools you need at your disposal.
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