The Secret Sauce Podcast
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The Secret Sauce Podcast
You're Sabotaging Your Sales (And How to Fix It).
Ever wondered if emphasizing simplicity could actually cost you sales? Discover the hidden pitfalls in your sales process with Chad Trease and Lacey Moores on the Secret Sauce podcast. We promise you'll learn how to transform the way you present your professional services in the real estate and mortgage industries by showcasing the intricate value you deliver. We reveal tactical advice on how to move beyond the oversimplification trap and effectively outline responsibilities and timelines for clients, ensuring they see the full scope of your expertise.
Our strategic three-step sales process is designed to shift perceptions and build trust, setting you apart from cheaper alternatives. By addressing overlooked challenges and potential pitfalls, we teach you how to establish credibility and highlight how your services seamlessly mitigate risks. Learn how to make your work visible, taking to the 'show your work' concept from school, and ensure your clients feel confident in the partnership. Chad and Lacey bring you actionable insights to stand out in a competitive market, proving you're more than a mere commodity.
Hey, welcome back everybody to the Secret Sauce podcast. I'm Chad Treese, this is Lacey Morris and we are talking about what today? Lacey.
Speaker 2:Well, we can't give it away right at the beginning.
Speaker 1:Okay, set us up.
Speaker 2:What we are going to talk about today, as salespeople, is how we unintentionally sabotage the sales process.
Speaker 2:Realtors, lenders, anybody in sales the supplies yeah anybody, anybody that provides a service, how we unintentionally sabotage by the order in which we do things, how we sabotage the sales. So that's what we're going to go through today and let's just start like this when we started talking about this and talking about how we're going to do this, we had a bunch of ahas and I'm going to pick on the mortgage side first. We can talk about. There's got to be some on the real estate side too. But you know, on the mortgage side you could go and get gas and at the pump says like I still remember getting gas and seeing a little ad at the pump that says push button, get mortgage.
Speaker 1:Yeah.
Speaker 2:And I've seen things like home loans made simple.
Speaker 1:That one, yeah, we both know that one right. I think that, like, tons of industries are famous for this and just talking about how easy things are going to be and, at its core, right, if things are that easy, then what the heck do they need us for what?
Speaker 2:do.
Speaker 1:They need us for why do they need a commissioned salesperson if it's going to be so easy, if it's going to be so simple?
Speaker 2:Sure, but let's be honest. Can anybody really push a button and get a mortgage?
Speaker 1:No, I mean, it is a lengthy process. There's a whole lot that can go wrong. There's a whole lot of work done and we don't showcase that and we are all guilty of it, Like I've been guilty of this so many times that I will tell I'll sit down with somebody, not show everything that we're going to do and just talk about. Don't worry, we got it.
Speaker 2:Yeah, such a simple sentence that we've said so many times. We got this, we're going to take care of it, we're going to make this easy for you.
Speaker 1:Yeah, big, big mistake. This was eyeopopening for me. When I heard about this, I was like man, I do this. I'm very, very guilty of it. So the framework, like really what we're talking about is like yes, we do need to tell them that we're going to deliver and make things simple, maybe, but that has to be like systematic and process-based, that they can see our value. Yep, right.
Speaker 2:So we intentionally usually lead with that, or it's the only thing we deliver? Would you agree?
Speaker 1:Right.
Speaker 2:We lead with. It's our number one thing is we say how easy we're going to make it or we just start there.
Speaker 1:We just don't show them all the work that's involved to get them to the closing table. Yep, stress-free, seamlessly, I use that. All the work that's involved to get them to the closing table? Um, stress-free, seamlessly, I use that all the time seamlessly, stress-free. Uh, I mean, and you think those key words or those tag lines are helping your sale, but in reality they can definitely sabotage the sale because our value is lessened because of it. So that, like, the actual mindset shift is that we need to showcase the complexity and then deliver the simplicity.
Speaker 2:Yep, right, absolutely, let's go through. So let's tactically like how do we do that? You want to start tactically?
Speaker 1:Yeah, I think maybe just let's just bullet point it three things Right Right off the bat. It takes me back to like grade school, and my kids are in grade school now and I know that like I'm helping them with math and I used to be notorious for this too is I would be able to, in my head, come up with the answer for something, and my teacher would always say you've got to show your work right. You got to be able to show what got you there, or I didn't get the answer right, and so I had to write it all out. And so I think, show your work. I think is where we need to start. We've got to show all of the work that's involved for them to truly understand how valuable, why they need us. Okay, right.
Speaker 2:So let's talk about that. Let's take it from a realtor standpoint. Sure, so realtor has a client and they sit down, and what does show your work mean? What is this, instead of making it just simple to begin with, what does step one mean to show your work? I love really, where we got this idea of putting on a piece of paper or, when you're meeting with your client, what my job is as your professional let's say, I'm a realtor in this scenario today and then what your job is as a client.
Speaker 2:Um, and let's go through what this timeline looks like. So if I'm a realtor and you're wanting to buy a home, you know the first thing that we're going to do is we're going to meet together and we're going to discuss your needs. Then the next thing we're going to do is I'm going to have you meet my lender. So what I'm going to do is I'm going to introduce you to my lender, but what you need to do is actually meet with the lender and go through the process. And then number three that I'm going to do and start going through all the things, and that list is long. Like I laugh all the time when people are like, what does a realtor really do, and I'm like you have no idea.
Speaker 1:Right.
Speaker 2:Like the list is long and so you got to explain and have to have the ability to explain all the things and it's this is what I'm going to do. Here's where I'm going to need you client to do your job. You got to do one, you got to do number two, you got to do number three inside this timeline. So now we're showing the client hey, these are the three or four things that you got to do. Here's the 70. Like I don't think you need to go into 70, right, like people are gonna tune out at that point, but you really have to showcase all of the things that you're gonna do in this process. So now they see they do a lot.
Speaker 1:Would you list?
Speaker 2:all of those. It isn't so simple.
Speaker 1:Would you just list all of those things out? Or in my mind it would make more sense. Let's turn the piece of paper sideways and show the timeline Like. Let's go landscape mode and write out this is what the timeline looks like, from today to you moving into your house or to you getting your house sold. Here's the timeline. Above the line is everything I'm going to do. Below the line is everything I'm going to do. Below the line is everything I need you to do". And they leave with a full understanding of just how much work is involved. It's not going to be simple, but we're on this journey together and you're going to walk them through it and guide them through it.
Speaker 2:Yes, so that is a step one. They have to know what that work's going to be. We got to show them the work. We got to tell them what that timeline is going to be. We got to show them the work we got is? We got a simple look. We got to tell them what that timeline is going to be.
Speaker 1:The next do not skip that step. Yes, very much, most important step do not skip that step and how I mean we do we we all do, we all do, yeah, we all do we assume the sale, or so many different reasons, why just make this process based every time?
Speaker 2:start there, all right people think that if I don't do this, like I'm gonna scare him if I tell him all this stuff you know and it and it doesn't scare him. They need to know that you know what you're doing, you know the whole process, you know all of this stuff. And this part of this meeting is when they're like I never thought about that, oh, I didn't know that, right. So they start having those moments as they're going through and realizing your value.
Speaker 1:It starts to get them thinking I can't go this alone. I didn't realize all of the work that went into this thing. So, yeah, they're immediately shutting down that possibility of I'm going to first sale by owner. In this post-NAR settlement world, I don't need an agent, I don't need to try to negotiate in to have my buyer's agency be paid right as a lender. You know, maybe I can just jump online and get this done and just do it through AI or you know, a robot or somebody just picks up the phone. So you have to differentiate yourself.
Speaker 2:Yep, that's such a good piece where you know we've talked a lot about value and proposition, so this allows them to see that.
Speaker 1:Step two.
Speaker 2:Step two, yeah. So step two is what could go wrong, and I think sometimes we avoid this.
Speaker 1:Yeah, I think we do. We don't want to scare Again, we don't want to scare people, but we need to paint the picture of all of the things. Potentially that could go wrong. And I think still, if you've got that paper turned sideways and you're building out that timeline that now you're just showing, did you ever play the game Pitfall? You're not a gamer and this is going to date me because this is real old but there was a game called Pitfall and it was landscape mode, just like the original Mario Brothers. You can only run side like left to right, but it's called Pitfall and it's basically this guy running through the jungle and all this stuff that could go wrong Crocodiles mouths and you've got to swing over their heads and you're avoiding all these pitfalls. And that's what I like to think of. I don't know what. I did not prepare that for this, but when I heard the word pitfall it just made me think of that. So shout out to any school gamers pitfall.
Speaker 2:Uh, but we've got to show on that timeline all the crocodiles, all of the you know um quicksand pits that they could fall into and and more so, like if you're using an average agent, if you're using a budget agent, right, somebody who's going to do this a lot cheaper they these are the things that could happen if you use an average agent. If they don't know this pitfall, if they don't know this pitfall, if they don't know what could happen here and how to get through that.
Speaker 1:I think that's an interesting point, because whether they use you I think that I wasn't even thinking along those lines, but I like that mentality too, showing all the things that could go wrong if they tried to go it alone, or if they use a discount agent, or just if they use somebody else. Really, at the end of the day, these are all things that could go wrong, even if I'm involved. This could go wrong and they need to understand that there's things outside of your control. As a realtor. You don't have any control over that appraisal coming in low.
Speaker 1:Well, maybe If you sent the deals to us, we would make sure very low risk that an appraisal comes in low, make sure very low risk that they go, that an appraisal comes in low. But aside from that, there's things outside of your control. These are things that could go wrong and they need to understand that. So, yeah, I I think we definitely, and all sales people try to avoid that conflict piece of it. Um, they just want to talk about all the rainbows and butterflies and everything, but not all the stuff that could go wrong, and it's a real key piece, piece that we miss a lot of times that self sabotage is the sale.
Speaker 2:It definitely is missed. So what's fun with this and we'll wrap it all together now is step number three is actually the fun stuff. It is all of the good things, but step three is where we all go first and we don't wait to put it in step three. We don't make it that part of that process. And so step three is what is the fun part now? How are you and your services going to make it easier for them? How is it going to make them more enjoyable? Because they're not having to do those things, or they're on their own or they're not trying to. You know, for instance, had a friend who said I don't even know why my realtor is getting paid, because I'm the one that found the house, I'm the one that was looking for all the houses.
Speaker 1:And I think that that's all that they do.
Speaker 2:Yeah, and I'm like, well, shame on your realtor. First of all, that's not what it's supposed to look like, but see how that can play into that, how that can be seen. But we work on step three, at the end, and this is where we make it, where what you're going to get from us, or our service and our team, is all of this and we're really good at making it and wrapping it all in and covering you from the pitfalls and making sure we know that those things are going to be coming and what we're doing to prevent those and all this stuff. But we go for the delight at the end, where it is easier working with us, and it should be easier working with us. We should make the process easier, easier working with us and it should be easier working with us. We should make the process easier by working with us because of our experience, because of our knowledge, because of our value. But we can't just go there without them knowing the things that could potentially happen.
Speaker 1:Yeah, exactly, I mean I think it's a quote that we just heard, you know this last week.
Speaker 1:That kind of ties that up separately, right. But whatever it is that you are selling, the person you are selling that service to needs to know, needs to believe in their mind without a shadow of a doubt, that they are better off using you, working with you for that thing, than anybody else, or than going it alone right At the end of that process. That's how they need to come away from it, or you're not going to close as many sales if they don't truly, in their core, believe and you have demonstrated that they're going to have a higher level of success, more fun, more joy, less time, make more money, higher sales price, get a house for a better price. Whatever it is, they need to believe that and that's how you do it. Like going through those three steps is how you demonstrate that, showcase it, and that's how they walk away feeling that way and then they feel great about what you're going to deliver, because you've shown them all of the ways that you're going to do that.
Speaker 2:No longer sabotaging.
Speaker 1:Right. I don't think we need to like probably even go any really further into that. I think this can be a short and sweet episode that, hey, go execute this thing right now. You get one thing from this episode it's a three-step process. Just get more intentional about steps one and two. You're probably already doing step three, right, because you're talking about how you're going to make it simple. It's going to be push button, get mortgage, all of those things. You cannot do number three until you do numbers one and number two.
Speaker 2:Yep, I think it's easy and I do think you are right. When I listen to this, I'm like I can do that. I can be way more intentional about it. I am definitely the one who wanted to make everybody just feel like I got you. I'm going to make this easy. No big deal. It does make sense. In our sales retreat, we were talking about how do we become less of a commodity. This is it. It all wraps around it. So I love it. I think it's great. I hope you guys got something great out of it. We really appreciate you guys joining us. If you know anybody that can use this, please like share, help us out.
Speaker 1:Thanks, guys, we'll see you next time you.
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