Sales Insight

The Game: Last-Minute Negotiations at Closing

You’re feeling great. The buyer says he will accept your offer, and the deal appears to be all but closed. 
At this point, you want to finish the sale, reap the glory, and collect the commission. You’re vulnerable. 

What happens if the buyer tries to negotiate one additional advantage, one that is actually unfair? Here are some suggestions from experts writing in Selling Power Magazine: 

  1. Be prepared to stand firm at the closing. Remind customers that they are already getting a great deal. Be ready with competitor product and pricing information to prove it. 
  2. Point out the fact that your terms are very fair, and that you will personally see to it that they get more than their money’s worth from this product and your service. 
  3. Find points you can agree on to build a positive rapport. Some negotiations are a series of concessions by both sides. Keep track of what you are giving up and what the buyer is getting. If you must make a concession, immediately ask for one in return. 
  4. If the buyer has last-minute doubts about the price, be prepared to justify the deal. The customer may not know the going rate for products like yours.
  5. Determine what the buyer really wants. He could be objecting to one part of the deal when what he really wants to negotiate is something entirely different. 

Customers want the best possible deal, but you have to get a fair price and terms. You have already sold the buyer on your product and service, so use that leverage. 

Be responsible, but don’t make a sale that is not in the company’s best interests. 

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