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How To Sell A Paper Clip

By
Services for Real Estate Pros with Real Estate Pipeline, Inc.

If I were to hand you a paper clip and were to ask you to sell it to me, could you? How would you go about it? What features would you mention? What uses would you bring up? What "special" thing about this paper clip would be the key item in your head that would click in your mind as being "the hook" in your sales pitch?

Interesting questions, right??

Honestly, I've sold paper clips before. Well, office supplies in general. And, when I was hired as a sales rep for the company, I was handed a paper clip and asked to do this very thing. More on that in a minute...

First, let's take a look at how the majority of sales people would handle this issue...

Better than 80% of sales people start the exact same way -- they pitch!

Immediately, you are flooded with every possible fact and figure about the paper clip from its length to the type of wire it is made from and how it is bent into its convenient shape to the color to the protective plastic coating they overlay on top of the implant grade surgical steel wire to avoid accidental nicks to the skin, clothing, or worse -- damage to the documents you are securing....blah, blah, blah.

Some sales people can (and do!) talk about a paper clip for the better part of 6 or 7 minutes. As the diatribe continues, you could literally see the attention span of my sales manager waving goodbye and flying right out the window on melancholy wings.....which would cause them to talk even longer and with more animation and conviction. And all of this without ever asking for an order or even asking one simple question!

So, there I am, hoping with every fiber of my being that I get this job and some schmuck hands me a paperclip and tells me to sell him???

I paused for a minute closely examining the paperclip, then I started my pitch by asking several questions.

"How often do you use paperclips during your daily operations?"
"What other locations within your company are these paper clips used frequently?"
"How often do you order new paper clips?"
"When you do order, how many do you usually buy at one time?"
"Besides yourself, who else is involved in buying paper clips?"

Quite the difference in approach, isnt it.

Quite frankly, anyone can look at a paper clip and see what it is and what it is made of and how it works. And, quite frankly, no one cares. What is important, however, is HOW they are used, how OFTEN they are used, WHERE they are used, and how MANY are used. That information is important to both of us because it determines need and gives me information I require to propose a solution to my client's problem. When you start asking questions about WHY this paper clip is so important to the buyer, things change dramatically.

Take a close look at your "pitch". Do you focus on all of the things that you do? Is your elevator speech filled with all of the facts and figures of your previous sales experience and how you are the #2 blogger on ActiveRain in the county and "you've done this"'s and "you do that"'s? Are you merely brow-beating your potential clients into a mind-numbing submission with impressive facts and figures that do nothing but attempt to make you better than everyone else?

Or, is your focus more on questioning your potential clients and finding out what it is they need and then trying to find a solution that best fits their needs? Do you make a point in finding out what specifially your client wants of you and then explain how your experience can solve that problem for them?

See, once you do this, you have actively involved the prospective client in the pitch of your product and have related it to them by referencing their specific needs. Also, it shows that you really care about what the prospect wants and that you have the ability, knowledge, and want to make that problem go away for them and are willing to help achieve that goal WITH them.

 

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Comments(100)

Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Kathryn -- You are quite welcome! Thank you for enjoying the post!

Jan 15, 2010 04:55 AM
Dawn A Fabiszak
Private Label Realty ( Denver metro area, Colorado - Aurora, CO
The Dawn of a New Real Estate Experience!

How can we be good at the sale, if we are unaware at how our service or product is going to be used.  I loved your post.  Well written too! 

Jan 15, 2010 05:28 AM
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Dawn -- Exactly! :-) And, thank you. Very much appreciated!

Jan 15, 2010 05:32 AM
Jim Paulson
Progressive Realty (Boise Idaho) www.Progressive-Realty.info - Boise, ID
Owner,Broker

This brought back memories of my days in Toastmasters International!  We had to do brown bag speeches in which you would reach into a brown paper bag, pull out some unknown object and have to try to "present it" to the group.  Sometimes you wouldn't even know what the object was and you had 3 minutes to "sell the benefits".

Jan 15, 2010 06:49 AM
Gene perez
Greater Mortgage Solutions & Valley Hills Realty - Santa Maria, CA

VERY good post ,,, made me think ;-)

Jan 15, 2010 06:49 AM
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Jim -- Excellent exercise! I should try that with my sales reps. ;-)

GMS -- Thank you very much! That is what it was supposed to do...... :-)

Jan 15, 2010 06:56 AM
Anonymous
Mark Cohen, Broker, Eyemark Realty, Gainesville, Florida USA

I'm a realtor-broker, not a salesperson.  Dictionary definition:  Broker: "a person who acts as an agent or intermediary in negotiating contracts, buying and selling, etc."

When I act as a realtor with a buyer I never sell them anything.  They willingly buy it.  They use me to assist them.  In order to assist them to find and purchase the home I have to ask numerous questions and listen to numerous answers before doing any searching or showing.

When I act as a realtor with a seller I ask numerous questions to find out if I am the right person to assist them with their sale.  Sometimes I am not right for them or they are not right for me.  The answers to the questions determines the results.

Its a listening process not a selling process.

Jan 15, 2010 07:48 AM
#92
Kathy Opatka
RE/MAX CROSSROADS - Ocean City, MD
Serving Ocean City, MD, & The Delaware Beaches

Your answers were perfect!  Mine weren't!!!  I would not have got the job, if they were relying on my answer!

Jan 15, 2010 08:09 AM
Anonymous
Kirsten Lindquist-Sotheby's-Sonoma Valley

I thought I'd heard this paper clip thing before.  I did go to a Zig Ziglar seminar once....thanks for the valuable recap

Jan 15, 2010 10:05 AM
#94
Martin E. Kalisker, Esq.
Natick, MA
Real Estate Law From A Practical Perspective

Is the glass half empty or is it half full?  Thank goodness we have clients that like Realtors to see things both ways.

Jan 15, 2010 11:01 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Malcolm started out really good here.  I'm still laughing about stabbing you with the paperclip.  What does this post & Zig Ziglar have in common?  Paper clips.

Jan 16, 2010 05:45 AM
Gary Steuernagel ASSOC. BROKER, ABR, CRB
Keller Williams Southwest - Sugar Land, TX

Very good post, we're all in sales though, selling ourselves!

Jan 16, 2010 05:58 AM
Sharon Parisi
United Real Estate Dallas - Dallas, TX
Dallas Homes

Sales are always about meeting client needs.  Once we determine what they are, we can help our buyers and sellers meet their needs and grow our business through increased sales. Communicaton is key!

Jan 16, 2010 01:53 PM
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Clint

Asking questions, being non confrontational and showing that you care will get you more clients than you can handle!

Ty

Jan 17, 2010 02:23 AM
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Mark -- Amen!!

Kathy -- Well, I hope you found something here that can help.

Kristin -- Love Zig!

Synergy -- uhhh....ok. ;-)

Lyn -- Yeah, that was a good one fo sho. ;-)

Gary -- Thanks!

Sharon -- "Communication is key!" <----- Amen!

EREBI -- You get more bees with honey than vinegar.

Jan 17, 2010 11:19 PM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

I like your approach Clint. Asking questions is a way to address the needs of the client.

Jan 21, 2010 01:58 PM
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Wayne -- And, without that information, you would only be spinning your wheels. ;-)

Jan 21, 2010 11:09 PM
Beverly of Bev & Bob Meaux
Keller Williams Suburban Realty - West Orange, NJ
Where Buying & Selling Works

Very good analogy and logic. It works and it's true.

Feb 10, 2010 01:43 PM
Clint Miller
Real Estate Pipeline, Inc. - Missoula, MT

Bev and Bob...Thank you very much! And yes....Yes it does. And yes it is.

Feb 10, 2010 11:03 PM
Anonymous
Adrian
I am participating in a work contest of trading a gold paperclip for anything valuable that you can dispose of. At the end of the contest all my profits will be given to a charity chosen by the person that brings the most value for the trade. Email me if you are interested: adrian_bal2001@yahoo.com
Feb 11, 2014 09:57 AM
#105