Buyer's Remorse

Thomas

Last month and now today I've had to deal with a client who seemed spooked after they signed the contract. What's the best way to deal with Buyer's Remorse?

Mikey

It is probably best to deal with buyer's remorse before it sets in. This is why the assurance step after the sale is important.

Bill_Kistner

Definitely! According to Robert Jolles (Customer Centered Selling) buyer's remorse is a normal part of the buying cycle. Therefore, heading it off would make the most sense.

However, as you seem to already have someone who is on edge about his decision, I would embrace his questioning of his decision and remind him of the problems he is fixing by making this purchase. Buyer's remorse is the customer questioning the value of his purchase, so reminding him of this value should do the trick.

Wear the Right Hat!
Bill

Thomas

This last guy backed out of his deal. He found another home that he liked more.

BossMan

In my opinion buyer's remorse is a lack of confidence with some part of the decision. Common concerns include product, provider, price, peers, and priority. Probing these areas gives the client the opportunity to discover and voice any concerns he or she might have. This can also work as an assurance tool.

AZBroker

I'll second all of that.

MCS_80

Maybe with future clients try and make them explain to you all the positives about the buying decision they are making on the day.

Sit down and help them write out a list of positives, I try and make up around 10, then get them to list the negatives. Ofcourse, you do not help them with the negatives because you do not see any negatives.

This technuique usually comes up 10/3, (10 positives to 3 negatives), get them to keep the list to have as a reminder of how great the deal is.

Thomas

Last week I had a buyer who came back to the office to write a contract and then got cold feet when it was time to write.

I went over why she was looking and why this home was a good choice but she still wanted to think about it. What would you have done different?

Skip Anderson

1. Validate the prospect by feeding back whatever her objection was: "I completely understand that you want to think about it - I felt the same way when I bought my home."

2. "Just so I can know that I'm understanding your situation, please tell me the two or three things that you want to think about." Then be quiet and wait for an answer.

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Selling to Consumers
B2C Sales Training

JacquesWerth

We utilize a process called "Conditions of Satisfaction," which combines presentation, objection prevention and closing.

The prospect learns all of the features, benefits and detriments (negatives) of the product or service. That combination is a Condition of Satisfaction (CoS). Most products and services have at least 12 CoS - 20 of each is more common. Nothing is held back - this is Total Disclosure.

Each time we review an item, the prospect gets to approve it or kill the sale.

Prospects know that there is no perfect product or service. Deal-killers are very rare. Each time the prospects accept one of their CoS, they have performed a mini-close. Almost all prospects take this process through to the end.

Then, we invite them to create their own close, and they do.

It is very, very difficult for people to kill their own creations. Thus, buyer’s remorse is very rarely seen.