The Intangibles of the Sales Process
Definition of Intangible: not made of physical substance: not able to be touched: not tangible (Merriam Webster)
To sell a property, we have tangible sales tools. The “For Sale” sign, the feature sheet, the webpage, the open house, the newspaper advertisement, the flyer, Facebook posts, tweets and pins. These are the marketing tools that we can see, touch or hear.
We also have the intangible sales tools. Our ability to build trust, reduce defensiveness and discomfort, create an environment conducive to decision making, reduce procrastination, overcome objections, motivate, inspire, persuade, influence, and of course, negotiate.
Which ones do we tend to talk more about in our sales presentations?Which set of tools are more valuable?
If you want to be remarkable in sales, you must build your intangible skills and build your ability to present those skills to your prospects.
The tricky part is that some people are still reluctant to accept the importance of intangibles. For these flat earthers, telling them about intangibles won’t work nearly as well as showing them.
For example: You’ve engaged a prospective seller in a conversation at an open house. He’s drilling you for your commission rate, what his house is worth and what marketing tools you use. He is focused on the tangibles and he is likely intending to list his home with whichever salesperson has the most tangible tools. You are going to end up competing on listing price and or commission rate and this is not in the seller’s best interest. To shift this conversation over to the intangibles, you’ll want to ask a few smart questions: Mr. Seller, what’s most important to you? Or, Mr. Seller, are you going to give the listing to the agent who gives you the highest price? Mr. Seller, if I could show you how I can put more money in your pocket, would you list your home with me? Done well, this will begin the important conversation about what it takes to sell a home for top dollar. (and it’s not a great marketing plan!) Tune in next week for more on “Selling the Importance of Intangibles”.