Overcoming Objections: 4 Negotiation Mistakes Every Sales Person Makes

Learn about the 4 biggest negotiating mistakes that we see sales people make all the time. We teach you how to avoid them to improve your negotiation skills and close more deals. 

Whether you're new to sales or looking to enhance your negotiation, this training will provide valuable insights to help you succeed in your sales career.

Connect with us at https://preparetowin.com

Call or Text David @ 765-560-7338

Episode Transcript

Speaker 1 (00:00):
One of the four biggest mistakes closing
negotiating mistakes salesmenare making today.
That's costing them a fortune.
Stay tuned and we'll fill youin.
Hi guys, I'm Grace LaPloy andI'm here with David Lowe, the

(00:21):
automotive sales coach, andtoday we're talking through the
four biggest mistakes we makewhen we're negotiating.
That's right.
You did a lot of them and youtaught me how to not do them
right.
So there are four commonmistakes and we're going to tell
you what each one of these areso that you can avoid them.
And, by the way, identifyingthem is the first step to
becoming better, isn't it Right?

(00:42):
I'm going to tell you somethingI is the first step to becoming
better, isn't it right?
I'm going to tell you somethingI didn't know.
They were mistakes.
I started selling cars when Iwas 20, and I didn't know what I
was doing.
I didn't get any training and Ijust listened to what other
people were doing, and I wasselling cars and I was making
money.
So I must be doing it right.
Oh, my God, that cost me somuch money not knowing what I

(01:04):
didn't know.
And so in this episode, we wantto go over these four mistakes.
Now, listen, don't be upset ifyou're doing them because most
salesmen are.
Until you're trained, how wouldyou know, right?
So don't be upset.
As we go through them, youmight identify with some of
those, and that's cool becausethat lets you know that's an
area of opportunity.

(01:24):
You have to be even better thanyou are.
Most salesmen are selling carsand making money regardless.
What we want to do is sell morecars in a way we can make more
money that also creates anexciting, long lifetime customer
and we can go home feeling goodabout what we did.

(01:44):
That means we need to stay awayfrom the sleazy promises of the
sales trainers.
I'll teach you how to overcomeevery objection and close every
sale.
If you just send me money,right, it's not possible.
You need to really learn what'shappening, why is it happening
and what do you do in thosesituations.
Yes, you've got to have a wordtrack, you've got to practice

(02:07):
your presentations, and mastersalesmanship is really more not
memorization, it's more abouttransformation.
Right, all right.
So I want to walk you throughthese four.
And so, grace, you and I go to alot of dealerships.
We had a lot of meetings withdealers and sales managers and
of course, we always say allright, let's go through the

(02:29):
scenario.
Tell me what your sales peopledo, as we're pointing out the
need for training, right, andthe first one is, uh, we'll say
something like this Um, hey, Iwant 4,000 more for my trade.
Every single dealer, not some,every single dealer I've asked
that to general manager salesmansaid the same thing.
What do they do?

(02:50):
They get up.
They get up and go see themanager, true or false, every
man.
And so here's the funny thing.
So I say to the dealer is thatwhat you want him to do?
You say no, I don't want him todo that.
And I say, why not?
Well, it destroys relationship,it sets the wrong expectations,
it costs his money.
They've got the list of why not.

(03:11):
So then I say to him, how longhas this been going on?
Oh, ever since I've been setright.
And then he's now to me that'sinsanity.
You know what's happening, youknow what it's costing you and
you just keep letting it go.
It doesn't make sense.
Now, listen, we've all beeninsane.
We have the right to be bettertoday than yesterday.

(03:32):
Would you guys agree?
If we know this is going on,let's solve it.
And it's simple to solve.
The pop-up and go comes from thelack of confidence and lack of
a game plan.
Right, the cool thing is ourdealership playbook.
Here's the win-win closing,which has to deal with closing,
right, great course.
And if you're a subscriber, youhave 24-7 access to it.

(03:55):
Role-play, videos, game, film,this is how you do it.
When the buyer says I want morefor my trade, you're not thrown
.
We actually expect it and wehave a plan to overcome it.
So you don't get up and run toyour manager.
Okay, number two and we hearthis all the time, and this
might come out even before theyget up and see, but we hear this

(04:16):
all the time I want four grandmore for my car.
What do they say?
I could do that.
You do it right.
Yeah, boom, if I could, wouldyou Write it?
Don't fight.
It was the language from the70s and the 80s.
And, by the way, in the 70s andthe 80s, cars were marked up a
zillion dollars.
They had the push, pull or drag.
Everything was different.
We now have internet pricing,right, right, we don't have

(04:42):
thousands to negotiate like wedid before.
I don't think that was rightthen, but still it works because
of all that room.
The fight it or write it.
Don't fight it thing.
Here's what the dealership sayswhen they say, write it, don't
fight it, they're saying we haveno confidence that you will be
able to solicit and influence abetter offer.

(05:04):
Why?
Because we're not training you.
That's why we have noconfidence.
All right.
So, number two if I could, wouldyou?
Now?
Why is this so damaging?
It breaks the trust that wehave, right?
I basically told you well, thedeal sheet that I just gave you,
it's not the real deal sheet,it's a worksheet.
Yeah, a starting point, astarting point, yeah.
So you didn't fall for it.

(05:24):
So let me go get you the realnumbers, right?
If I could, would you?
Terrible, okay.
Number three Now.
This is when a salesman startsthinking I'm pretty smart, I'm
not going to do four grand,right?
So, number three the differenceI can't get you four grand, but
I could maybe get you two.
Now they go up to the.
I hear this all the time at thehey, but they wanted four grand

(05:46):
.
I got them down to two as ifthey won something.
So I always said to my salesmanif they wanted a million, would
you offer them half a million?
It's the same difference Intoday's market, the way that we
price our cars usinginternet-driven pricing.
We don't have that kind offluxation, right, and we use the
internet to value the car.

(06:07):
And even if we're holding backfour grand, we don't want to
give up that profit.
We've got to be better.
And so splitting the differencegives away half of it
immediately, and now you'regoing to give away part or all
the rest of it too right, you'retoo willing to make a
concession.

(06:27):
By the way, our win-win closingincludes those 10 rules of
negotiating.
They're key.
Once you have those in yourmind, you will make more money,
period.
I'm going to tell you somethingI didn't know I sold cars and I
made money and I did all.
To tell you something I didn'tknow I sold cars and I made
money and I did all four ofthese things.
The last one very heinous.
I didn't know it was heinous atthe time.

(06:48):
But I would say to people what?
Where'd you come up with that?
Where'd you come up with that,right?
In other words, lie to me somemore.
How'd you come up with that?
You didn't.
Did you look it up, right?
You know all these Boss theyare.
They are yeah, okay.
So this is justification.
I'm going to tell you this isterrible.
So in Seinfeld, jerry wants toknow how to beat the lie

(07:09):
detector.
And he goes to George Costanza.
And George Costanza is the king.
Liar Says Jerry, remember, it'snot a lie if you believe it.
Of course it's still a lie.
But here's what's happening themore you repeat a lie, the more
it becomes true to you.
And if we ask our buyer lie tome better, they're just going to

(07:30):
cement themselves in theirstory.
I mean, how do they save facenow, right?
Okay, so we have four problems.
Right, let me go talk to myboss.
If I could, would you what ifwe split the difference?
How did you come up with that?
As I said, I sold cars and Imade money without it.
Once I learned a better way todo it, right, holy cow, my

(07:53):
income went through the roof.
Now, listen, I want to tell yousomething, so I don't forget,
there's so much information wewant to give you in these short
episodes.
We try to give you the tip ofthe spear to change your
thinking, so you can go andinspire you to get the knowledge
and the practice you need to dobetter to be better.
Right, and that's what theplaybook is designed.

(08:13):
By the way, if you're notsubscribed, your dealership's
not get in touch with yourmanager, call us, and we do have
individual memberships.
If you want to get on right,nothing's stopping you the
information's out there that youneed.
But here's the thing I want youto remember Whenever you're
negotiating you want to build agolden bridge for your buyer to

(08:36):
retreat on.
So Sun Tzu taught us that rightthe art of war.
Here's what he said your armyis twice as big as their army
and you're going to win.
It's still going to cost youmoney and men to fight.
Wouldn't it be better if theother army gave up and left?

(08:56):
So what he said was if you wantthe other army to retreat, they
won't do it with their tailtied behind their legs.
You can't humiliate them intoretreat.
You have to build a goldenbridge, make it a win for them
to retreat.
So everything we teach in herewe've removed all the high

(09:16):
pressure and the negativereinforcement.
Some of these guys are outthere screaming at you to do.
It's really horrible, and Ithink it's meant for the lowest
common denominator of you know,bullying people.
You just we want to be masters.
We always said we've got ascalpel, not a sledgehammer, and

(09:41):
so we want to find a way toovercome this fear of paying too
much and not getting enough forthe trade, in this case in a
way that the buyer goes.
That makes sense, I'll take it.
We want a relationship for lifeand we want to feel good about
what we're doing.
Can I tell you, if you're amaster with a scalpel, you're
going to make a lot more moneythan the guy with the

(10:01):
sledgehammer.
Not only do you feel betterabout yourself, you're going to.
This ain't just about feelingbetter.
You will sell more cars andmake more money and you will
withstand the market variationsthat come All right.
So I sold cars for a year atthat Ford place and left at the
top feeling pretty good aboutmyself.
And I went up the East Coast toget a job at this Honda store

(10:25):
and I sold myself into this job.
I'm so good and everybody hadwas in their 40s right, all the
salesmen and I talked my way inthe job.
My confidence must have beencontagious, but it only lasted
one day, because I got there andI sat at my desk and this guy,
dj Lolly, was behind me and Ilistened to him.
I was going through the Hondabrochures, trying to learn the

(10:48):
product.
I'm listening to him negotiateand close these deals and I
thought, holy crap, I can't doany of that.
I'm not just true story.
I cannot do any of that.
I don't know what he's doing.
I've never heard anything likethat.
Cause, this is what I did.
Oh, I'm going to go talk to myboss.
If I could, would you?
Yeah, that's what I.
Those were my tools.
Those were crappy tools, butthat's what I had.

(11:10):
And so I was listening to awhole different level of tools,
to a whole different level oftools.
It's just like going.
It's just so different.
So the next day I went backthere and I took a notepad and I
wrote down everything he saidto negotiate.
His customers were right behindme.
There was no divider.

(11:30):
If I went back, I'd hit hiscustomers in the head, you know.
So I was able to listen closely.
I just wrote it down as fast asI could.
I did it for two days.
Dj sold three cars during thosetwo days and I realized he
didn't use the same words, buthe took the same path to both.
So I got home, I took thesenotepads out.

(11:53):
I still use a legal pad foreverything.
I love taking notes and learningthat way, and you'll see when
I'm going to make a new trainingcourse.
I'll do that and then I'll linethem up all over to get the
storyline down, to make sure Ican present information in a way
that flows.
So I took his closing and Ilaid them out and I realized all
three closes were identical andso all I did was I numbered

(12:16):
them.
I figured out there's basicallyfive parts to this and I
numbered them.
I wrote down what he said andthen I reworded it in my own
language and then I began topractice it.
And, true story, that was myfirst month there.
I was there about three weeks.
My next month was my first fullmonth.
I outsold him for salesman ofthe month, using his words,

(12:39):
right.
So here's what I'm trying totell you.
Here I am 21, whatever, noformal training, and I'm
outselling a master.
How?
I had a game plan.
Right Now, lucky enough, I wasexposed to that game plan, but I
wrote it down.
Here's the map, here's how hedoes it.

(13:00):
That's not such a mystery whenyou see it right, it's like
watching them make a movie.
When you see behind the scenes,oh, that's not such a mystery.
And so, once I wrote it down,that's not such a mystery as a
matter of fact, I think anybodycan do it.
So what we did with thedealership playbook is we broke
these things down for you in aone, two, three, four.

(13:21):
We made them super easy.
You can be like DJ.
You can be better than me.
That's.
What we're hoping is that youcan use the same outline,
customize it to your personalpresentation style.
I really saw that in DJPresentation style.
I really saw that in DJ.
He really taught me that hesaid the same things, three
different sales, but the wordsweren't identical, right.

(13:42):
They weren't memorized routines, they didn't go into the script
, right.
He talked and had a greatconversation and led the buyer
through the thought process thatdelivered the clothes Different
words, same exact process.
You see, memorization only getsyou so far.

(14:03):
It's transformation that'llchange your life.
You can transform by practicingwhat we teach you.
You practice it over and overuntil your action and reactions
become automatic.
And guess what's going tohappen?
Your words become your own.
If you're willing to do that,you can stop making these four

(14:23):
mistakes.
And I'm going to tell yousomething.
After I learned that and becamethat top salesman, I look back
at my first year selling carsand, by the way, I went from
playing in a band on theweekends for $200 a night.
I basically made $1,200 to$1,600 a month.
And at the Ford store I went tomaking $5,000 and $6,600 a
month.
And at the Ford store I went tomaking $5 and $6 grand a month
and at the Honda store, $10 and$12 grand a month.

(14:45):
Now that's 1986.
People Think about the money.
How much it was.
I made so much more money,right, I thought I was rich when
I was working at the Ford store.
I was doing it all right andnow I was doing it right and
making so much.
I looked at my first year andthought how much money did my
ignorance cost me?
Right?
None of us know what we don'tknow.

(15:08):
I got lucky.
I got sat right next to I justwonder if I got a chair on the
other side of the room, if I'dbe where I am today.
I got lucky.
Sometimes we got to take luckysituations and turn them into
gold.
Got lucky, he's got to takelucky situations and turn them
into gold.
Got lucky, he's there Now.
I had to make it happen though.
I listened to it, I heard it.

(15:29):
I'm like, oh my God, this isgreat.
And I wrote it down.
I took action and then Ipracticed it over and over until
it was mine, and then I beathim like it was with a bat and
outsold him his own way of doingthings right and made it better
.
And so we're encouraging youguys quit making these four
mistakes.
I know you're selling cars.
I know you're making moneyEverybody is.

(15:51):
If you're in the car businessand you have a job, you're
selling cars and making money.
Is that really enough for you?
Is it just making money, or doyou want to become something
better and sell more cars?
You want to become someonebetter and hold more profit.
Do things in such a way thatthe buyer's like thank you so
much and you go home knowing youdidn't push or pressure them.

(16:16):
You're a master salesprofessional, you're worth your
pay, you earn your pay andyou're the highest paid person
on that floor.
If that's what you want, thenyou have to make it.
So the dealership playbook it'syour assistance, it's your tool
in that.
Now, by the way, we have a tonof free videos on our Facebook
page, automotivesalescoachcom.

(16:38):
A partnership in here for anindividual is so inexpensive
it's almost ridiculous, but youcan do that.
A team membership for yourwhole dealership is so
inexpensive.
You can do that, but you don'thave to subscribe.
We have a lot of things on ourFacebook page, a ton of videos
on YouTube.
Get out there, search for theinformation you need and turn

(16:59):
the information into skillthrough transformation.
Transformation I want it andI'm going to do what it takes,
time and energy to master itright.
All right, thank you so muchfor joining us this episode.
We really appreciate it.
If you'd like to talk aboutsomething in particular, hit us
up.
You can hit us up throughFacebook.

(17:19):
There's a million ways to talkto us.
Let us know.
You can go to our prepare2win's.
A million ways to talk to us.
Let us know.
You can go to our prepare towincom site.
Talk to us on salescoachcom andtalk to us.
We'd love to hear from you.
Keep watching and keeplistening.
Good selling.