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Biggest mistake made when closing a sale
October 29, 2014

Sales and Marketing tips

From Ted Wolk, Site author and creator

The Number 1 biggest closing mistake is learning to stop talking and start filling out the paper work as soon as the client says YES or implies Yes. Believe it or not, I have seen many new agents and even existing agents that start having a closing problem, whiz right on by a “Yes, I am ready to buy” situation during their presentation, and keep on talking.

What happens is new or inexperienced agent fail to actually recognize when the client said “Yes” and they keep on talking because they feel they have not completely explained everything. This results in what is called “Buying Back The Policy”.

Sometimes a person’s mindset is ready to buy, but the more you keep talking, there is a good chance that you will say something that all of a sudden turns the prospects on switch to off.

It goes like this. Mr. Prospect can you see how this (program/policy) can help you reach your financial goals? The prospect says or implies a YES, but what happens the agent, in his/her mind was not finished with their presentation so they go on and on and on and say something else like “in addition, this policy has great cash value accumulation, (maybe you show the cash value and the result is a negative turnoff),

Or they continue on with something like, if you both die we can make sure your children get the money, etc. etc. and keeps going on and on. You missed the YES exit ramp to closing the sale because you were not listening for that YES.

The point being is that when the prospect says or implies YES, you need to start closing even if you did not finish the compete presentation.

Once you get an implied YES, you should say something like: “ Mr Prospect, I can see that you recognize how this plan fits your specific situation. We can set this up to come out of your checking or savings account on monthly basis or we can do it annually. Which would be most convenient for you? (Choice close)

Whatever way is answered, then I would say, Mr. Prospect, once the program gets issued, I will return with it, and go through everything in detail with you and your spouse, assuming there are no serious health problems. With that being said Mr. Prospect, we will need to get the required information about your health.”

(At this point you slowly slide the application in front of you , which should be on the table with your referred lead cards Then start closing:

What is your full legal name and continue on with the application.

Remember, start learning to listen to when the prospect says YES or implies YES. Then take the YES exit ramp and start closing the sale.

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Life is good.

Ted Wolk

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