Are you a car salesman or sales negotiator? Do you understand what the car sales process should look like? Even if you aren’t a car salesman, this episode of Negotiations Ninja is packed with some amazing insight on sales negotiation. Tim Kintz—the President of the Kintz Group—shares how to make the sales process more effective from a different perspective. Tim offers consulting for the retail side of the automotive industry—everything from training, to seminars, to workshops at Top Golf. If you want to get into the mind of your buyer, don’t miss this episode of Negotiations Ninja!
Outline of This Episode
- [1:24] Tim Kintz brings a different perspective to the podcast
- [2:55] What does ‘negotiation is optional’ mean?
- [3:50] Why don’t salespeople ask for full price?
- [4:37] Avoid letting your emotions cloud the process
- [5:36] Negotiate out of inspiration—not desperation
- [7:04] Whoever cares the least about a deal…
- [11:44] The right questions to ask customers
- [14:23] Whoever starts the negotiation has the advantage
- [17:23] What are removable objections?
- [19:47] Don’t be afraid to negotiate
Why are salespeople afraid to ask full price?
Tim points out that if you believe that you have a great product, the price is fair, and you see the value in the product—there is nothing wrong with asking for full price. If you believe in your product and the process you follow and you did the right thing for the customer, why shouldn’t you get full price? Yet car salesmen—and salespeople in general—are afraid to ask for full price. Why is that?
Tim points out that sometimes the salesperson knows they didn’t earn the right to ask full price. While you must recognize that you’re not always going to get full price—especially when you’re selling negotiable items such as cars and houses. But if you didn’t do a good job and you know you didn’t do a good job—whether it’s conscious or subconscious—then you don’t feel like you have the right to ask full price.
Secondly, salespeople are afraid of hearing objections. They’re afraid because they don’t know how to handle or overcome objections. So they default and let their emotions take over the logical part of the car deal.
You have to STOP caring so much
Whoever cares least about a deal, wins. Tim shares that a customer needs to want whatever you’re selling more than you want to sell it. You need to help them realize that the car you’re trying to sell is the solution to any pain point they may have. It’s not that you don’t want to sell the house, or the car, or the product—but whoever’s willing to walk away from a deal is going to get the best deal.
That’s why it’s your job as a car salesman to do a good job of listening to your customer. You need to ask open-ended questions so you show them the right vehicle. Tim points out it is then your job to help them envision the vehicle you’re selling as part of their life. They need to see a vivid mental picture and believe it is the solution they need. Only then do you sit down and negotiate. At that point, it’s just a matter of, “let’s fit this into your budget” not “do you want it.”
Don’t sit down to negotiate if the customer isn’t committed to the purchase. Why? Listen to find out.
The importance of lowering your customer’s guard
As a car salesman, it’s your job to lower your customer’s guard. Tim states, “It’s all about being able to ask open-ended questions, shut up and listen to understand—not listen to respond. Once you do that, then you lower that customer’s guard.”
When people go out to buy a car, they’re automatically guarded. Everyone believes the reputation that a car salesman is a pushy person who only cares about the almighty dollar. That’s just the reality of it. But if you master asking open-ended questions and listening, they let down their guard and become open-minded about you—and about the purchase.
If you do that—and if you can help them envision the car in their life—they’re confident when you say “I think this is the perfect car for your family.” When you sit down to negotiate, they trust you. Trust is the ultimate goal of any salesperson—and you have to earn it.
Build-in removable objections
Tim emphasizes the necessity of adding removable objections to your sale. What does that mean? Put things into the deal that you can afford to take out. For a car salesman, that means you start negotiating with the shortest financing terms and the highest percentage of cash down. So how does it work if you’re selling houses, products, or services? What if you’re the buyer? Tim shares so many useful sales resources and tactics in this episode. If you’re ready to boost your sales negotiation game—don’t miss this one.
Resources & People Mentioned
Connect with Tim Kintz
- BOOK: Frictionless: Closing and Negotiating with Purpose
- The Kintz Group
- Kintz Group on Facebook
- Follow Tim on Twitter
- Connect on LinkedIn
- Follow on Instagram
Connect With Mark
- Follow Negotiations Ninja on Twitter: @NegotiationPod
- Connect with Mark on LinkedIn
- Follow Negotiations Ninja on LinkedIn
- Connect on Instagram: @NegotiationPod