Tom Hopkins: Closing The Sale

Tom Hopkins averaged $42 a month in real estate sales until he discovered he could learn from the sales secrets of others. His sales suddenly rose like a rocket--in one six-month period, he sold an astounding 40 homes. Today, Hopkins is one of the nation's premier sales trainers, with bestsellers on audiotape and videotape as well as numerous books, including Tom Hopkins' Guide to Greatness in Sales (Warner Books).

Entrepreneur: What's the best way to close a sale?

Hopkins: What is the one thing mediocre salespeople don't probe with questions to find out? The customer's needs. The mediocre may look at desires but not needs--or, worse yet, they may be opinionated and try to steer the customer to a product they like. You want to question the customer to discover his or her needs.

The key to closing is knowing the N.E.A.D.S. formula.

The N stands for now, meaning, I will forget my likes and dislikes, and I will ask questions to find out what this customer has now. That's because past decisions often dictate future decisions.

The E stands for enjoy. What did you really enjoy about that car when you bought it three years ago? The answer tells me the customer's hot buttons because I know what he or she said yes to then.

A stands for alter, and that means change or improve. What would you like to change or improve about what you had in the past?

D is a critical step--it stands for decision maker. Who is the person who can say yes?

The S in the acronym stands for solution. I have determined the now, enjoy, alter and decision maker, so now I create the solution that satisfies the need.

The word closing has a bad connotation today, but of course the best salespeople do it all the time. They just do it gently.

--R.M.