Most Common Objections to Financing
Ensuring your team understands how to deal with the most common objections to financing can make a huge difference on your closing rate, especially once the customer understands why you're offering them financing in the first place. In October's episode of Matt Chatts, Matthew Bratsis and co-host Donna Decoster sat down with New York Times bestselling author and sales expert Weldon Long and Jared Ledford, Director of Operations at Dayton Barns & All Steel Buildings to discuss what they most commmonly hear from customers when discussing financing.
"I think 0% for 60 months is very difficult to overcome," said Ledford. "I'm not able to offer 0% for 60 months in my current role. I'm looking to try to do that, but I know that others may have that and that's something that's extremely difficult to overcome."
Ledford went on to give additional perspective regarding the competitive nature in the world of barns and steel buildings. "In my industry, we might price the exact same building dollar for dollar, so it's a really difficult one to overcome," said Ledford.
Long weighed in, countering Ledford by saying that in the mind of a sales expert, the biggest objections come from the contractor, not the homeowner. "I think that we kind of plant that seed, and that there's a bit of projection on the part of the contractor onto the homeowner," elaborated Long.
“A year ago, I would've said the interest rate is too high. But these days, the numbers we're seeing are less than the interest rates on new cars,” said Long. "I don't think there's enough guys out there offering '60 months, same as cash,' so I'm gonna say 'can I get a discount if I pay cash' from the homeowners' perspective."
The poll question results indicated that most respondents (41%) of respondents agreed with Jared Ledford, and that the second-most respondents (29%) agree with Weldon Long.
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