FINDING SELLING PAIN POINTS

[Jason Malabute]

We were struggling with finding apartment owners with problems to solve. To correct this I used today's meeting to better train my team identify pain points of apartment owners.

First thing I did was show them a video clip of an operator who closed on a MF deal because he solved the problem of a widow who unfortunately lost her husband. The husband ran the apartment. When he passed the asset quickly turned to a liability because she was left with a problem because she knew nothing about apartments. I showed my team that the operator was helping the widow get rid of a burden (not take advantage of her).

Then we did an exercise . I asked a series of questions

Question 1: if you owned a property or something valuable what would be reasons you would keep the property?

The example they used was a plot of land their family owned. 

Answers: They feel like the value is going to go up, going to pass it to their children, They have long term plans to build a house on it, etc.

Question 2: What would be your tonality be if someone called about a property you want to keep?

Answer 2: Standoffish, defensive, uncooperative, etc.

Question 3:if you owned a property or something that was not valuable what would be reasons you would sell the property?

The example they used was their old family car that keeps breaking

Answer 3: It turns into a liability, it cost money every time it breaks down, they have to call family to get it towed everytime the car stops working, it is becomes a bad experience to her kids.

Question 4:What would be your tonality be if someone called about a property you did not want to keep?

 Answer 4: Interested, flexible, cooperative, etc

Question 5: How are you going to find these triggers ?

Answer 5: Ask multiple "why" questions and peel back the layers to discover the sellers true motives/pain points.

I smiled. We spent the rest of the meeting role playing calls and practicing finding the pain points in calls.

This exercise was very fun and effective to get the team in the right mindset . Try it with your team.