January 18, 2013 — It is a costly mistake that occurs in timeshare sales centers every day of the working year. Capital has been expended to acquire the sales guest and upon the conclusion of the initial presentation most timeshare reps — especially in a T/O system— nonchalantly & miraculously toss out ‘numbers’ that kill the deal, right then and there, the majority of the time!
So here’s the scoop. Most people are a bit quirky when it comes to the very personal subject of their money and in fact money in general. Yet, in ‘the biz’ after the ‘meet & greet’ the ‘warm up’, ‘breaking the pact’ — all the while building a basic foundation of friendship and trust throughout the entire presentation— reps have been taught to ‘show the money’ (costs) as if all of a sudden they are speaking with a total stranger.
Throughout our nearly 50 year history of selling slices of Paradise most reps have been following that misguided formula along with presenting initial (opening) prices that are simply out of the realm of possibility for about 8 out of every 10 sales guests they encounter.
Over the decades the proof that this isn’t the best method is that after the millions (literally) of sales guests who’ve been through a presentation it is likely that not more than a handful of those prospects, when shown the initial costs, ever jumped up from their chair all excited with their arms raised above their heads and blurted out the immortal words “Halleluiah! I’ll take me one of them thar timeshares. Do y’all accept all cash or can I use my credit cards?”
Yes, there have been and are ‘lay-downs’. But when the opening prices are shown in that manner what most often occurs is the potential owner(s) put up their defenses (again), raise their shoulders (again), cross their arms (again), lean away from the table (again) and are overwhelmingly reminded (again) that ‘someone’ . . . you know. . . a sales person. . . is trying to sell them something and get deep into their pockets (again).
And if they don’t exhibit any of those traits or whip out their credit card on the spot and ask to buy, this is when the prospect starts being less than truthful (again) with their rep, asserting (e.g.) “Well, that is surely something to think about, Slick, but I’ll have to check with my…” and the ‘game’ starts all over (again) as the rep now attempts to lead the (again) distrustful sales guest into a closing situation and sequence (T/O).
In other words, assuming the ‘90 minute informative’ session was performed properly and successfully it is at this point of the presentation— when it is time to ‘show the money’— that NLT ½ of the sales guests have been ‘sold’. Yet this is the critical phase where many reps often lose the sale the moment they start writing down costs.
It is precisely at this point when the ‘deal’ most often comes unraveled because the rep is taught to blindly toss out a cost for a (e.g.) two-week ownership program for $36,000 with a 30% ($10,800) down payment, closing costs, a balance ($25,200) carried at 14.5%, and monthly payments of $592.91 for five fricken years, plus the annual maintenance fees and exchange fees, too. Oh, and now the rep is expecting a purchase decision!
There is of course a highly successful and proven method that doesn’t turn the prospects off when showing the money but rather actually brings them further onto the table with eyes & ears wide open and with their elbows planted firmly on the table as they verbally commit to themselves and their rep to make a decision.
So stay tuned for the second part of “The Intimacy Of Money” and if you shoot me an e-mail I’ll let you know in advance when that is going to be published.
To send tips, comments, suggestions, agree and/or disagreements etc. email Scoop: firstname.lastname@example.org
Contributing sometimes extravagant, bombastic, emotional, pompous or even pretentious writings about the timeshare industry, Scoop covers an array of industry related subjects each week including inside information, tips, scandals, interviews, forecasts as well as new (good or bad) products and services--- and, of course, all the 'Good', the 'Bad' and the 'Ugly'.
Stay tuned for what is sure to be a fun ride and check back to Timeshare Scoop du Jour each week for more of the inside scoop.