Want to Make More “Green”? Paint Your Sellers. (Part 1)
“If all you have is a hammer, everything looks like a nail”.
Ever hear that? Ever really think about how that is affecting your real estate biz?
No, I’m not talking about Thor the Contractor swinging his mighty hammer.
(Although I have walked thru some houses in which it would seem reasonable to conclude that all they used was a hammer.)
As a real estate investor, you aren’t just in the house business. You are in the PEOPLE business…
And what makes people, well, people? Personalities.
In other words, they ain’t all simple “nails” – so you need to bring the right tool to the job.
With that said, today’s lesson is all about reading, connecting and persuading your sellers (and everyone else you ever encounter), based on their personality “colors”.
So why is this important? Well, I guess if you don’t care about making connections, closing more deals and/or making more money, then it isn’t important.
But have you ever gone on a blind date and found that things simply didn’t mesh?
Or how about trying to negotiate with a seller, and you would swear they looked at you like you were ET?
My bet is that you didn’t take the time to understand how they think, and/or how they liked to be addressed. The fact is people will do business with those they like and trust…
…and just like many other rapport-building skills, learning their personality “color” is vital if you want to communicate as effectively as possible.
For example, I recently contracted on a property where another investor actually offered the seller more money but I got the deal, because “Dave, I just plain like you better.”
FACT: If you want to make more money in real estate, you need to learn this. Period.
And why colors? Well, why not?! Colors are easy to visualize and categorize.
(Hey, I’m not a Psychologist – I just play one on TV.)
The good news is that we aren’t looking at every color offered by Benjamin Moore. Instead, we’ve got four basics colors: Red, Blue, Yellow and Green.
So grab your paint-by-numbers palate and let’s get our Picasso on. Today we will hit two of the four and follow-up next month with the remaining two…
YELLOW: Informal, Passive
Yellow personalities are typically very personable and friendly.
They tend to be family-oriented, love animals, enjoy the outdoors, and are natural peacemakers.
They don’t like conflict or confrontation. And they don’t like phony, materialistic people.
They can talk your ear off and can get offended if you are abrupt. They are creative and expressive.
Yellows tend to dress casually and comfortably, not flashy or trendy. Earthy tones and few bright colors. They may have longer hair, which may not really be styled in any special way.
Typically, they don’t have a fancy car in the driveway, or expensive house.
Their tone of speech is warmer, softer and slower than the other colors. (And this is especially important to know, as we strive to match and mirror their speech patterns.)
When you greet a Yellow, they will get close to you. Heck, they may even hug you when meeting you! (It’s only weird if you make it weird.)
Or the guy may open his door in nothing but Fruit of the Loom. (It happens.)
They may give you a softer handshake, and they respond best to warm smiles and eye contact.
To persuade them, you want to be sincere and interested in their needs. LISTEN! Do not challenge them, but show them the big picture of how you can solve their needs. Detailed discussions on creative financing will generally lose them. LEAD them nicely to the solution, using more of a big picture. If they want more detail, they will ask.
BLUE: Informal, Aggressive
Blue personalities tend to like bright things and happy people. They like a sense of humor – so have some fun with them. They also tend to be more spontaneous. They are fun-loving.
Blues like to dress in bright colors, and they tend to be trendy – usually more casual than formal. These are the people who stand out in a crowd. (You’ll know them when you see them in the ocean of other people, because they want you to see them.)
Their tone is upbeat, happy, loud and fast. They may use a lot of slang. You can have some fun in your dialogue with them. But remember, you are still there to do business – so act accordingly.
Blues tend to be frequently late, and they go off on tangents that may cause your appointment to go off schedule. Plan for a longer meeting at the house.
Remember the “close talker” in Seinfeld? That dude was totally a blue. They get close to you when they greet you. Give them a big smile and you are off on the right foot. (Have a breath mint…always have a breath mint!)
When dealing with Blues, you want to keep it simple. Keep the discussion optimistic, and focus on benefits to them. Don’t belabor your points with tons of details.
It’s Not Rocket Science
See? It really isn’t that complicated. Paint-by-numbers easy!
Yes, this is just a summary, and you can definitely learn more about the complexity of personalities. After all, most people are mix of dominant/less dominant colors.
But I like simple things. And If all you do is (i) take the time to identify the personality color you are dealing with and (ii) learn to address them in the way they will best respond, then they will like and trust you…
…and you will close more real estate deals…
…and make more money.
I’ll hit you guys with Red and Green next blog post.