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Gap Analysis

By
Real Estate Agent with Prudential Connecticut Realty

Identify the Real Need of the Prospect                                                                               

As a salesperson, you are in the business of gap analysis. You are a "problem detective". Your job, somewhat like a police inspector searching for suspects is to find problems where your product or service is the ideal solution. In a way, your product or service is a key. You make calls looking for locks that your key will open. In the prospecting phase, you insert the key and find that it fits. In the presenting phase, you twist the key and open the lock. In the closing phase, you must turn the handle and pdoor open.

Use Questions as Sales Tools

Like a verbal detective, the tools of your trade are questions. You use them to get appointments, uncover problems and discover gaps between where the prospect is now and where the prospect could be by using your product or service. You then show the prospect how3 much better his situation could be by owning and enjoying what you are selling.

Learn To Attract Money

You make your own choices and decisions about money. If you are unhappy with the amount of money you're making , the only question you should be asking is "How can I make more money?"

Clarify the Need

There is an old saying, "No need? No presentation!" Before you begin your presentation, it must be clear to the prospect that there is a distance between where he is and where he could be. The prospect must recognize he has a need that is unsatisfied, or a problem that is unsolved. The prospect must also feel that a gap between the real and the ideal is large enough to warrant taking action.

Build Buying Desire                                                       

Buying desire is in direct proportion to the intensity of the buyer's need on the one hand, and to clarity of the solution represented by your product or service on the other hand. The process of taking the prospect from cold, to lukewarm, to hot is accomplished by skillful use of questions to uncover the gap, and then expand it to the point where the customer is ready to take buying action.

 

Putting these Ideas into Action

Here are two you can do immediately to put these ideas into action.

  • First, ask good questions aimed at uncovering the real need or problem the customer has. Listen attentively to the answers. Never assume you already know.
  • Second, the larger the gap the customer sees between where he is today and where he could be through using your product or service, the greater is his desire to buy. Continually show him the size of his gap.  

                                                                                                              

Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Marcy, I really hope you start to blog a lot more!  I'm impressed with this one - great advice and well written.  So thanks.

Dec 07, 2009 01:31 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for sharing your thoughts. Excellent tips for real estate professionals. Best wishes for continued success.

Dec 13, 2009 01:18 AM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS

Great ideas, Marcy. I'd elevate your comment "listen attentively to the answers" to a topic/paragraph of its own. Too few agents really listen to their clients.

Dec 13, 2009 01:24 AM
Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi Marcy,  We learn more by asking " open ended " questions and listening to the answer ( on more than one level ! ) .

Dec 13, 2009 01:43 AM
Susan Brown
Keller Williams NE, Kingwood Texas (Humble & Atascocita too) - Kingwood, TX

Marcy, I agree with Pat.  Well written and gives a lot of food for thought when making the 2010 game plan.

Dec 13, 2009 04:19 AM
Jane Cross
Homes By Cross serving Charlotte NC Real Estate Needs - Charlotte, NC

Marcy, Your "gap" analysis is great! The larger the gap...and assume you do not know all the answers...both tricky...both true!

Dec 13, 2009 01:21 PM
Terrie Leighton
Ferrari-Lund Real Estate - Reno, NV
Reno Real Estate Agent ~ Selling Homes in Reno

Always ask questions.....and listen to the answers...never assume to know what the answer is! Excellent Marcy.

Dec 13, 2009 02:31 PM