“I’ve got 1.45%, can you beat that?”
Of course anyone who knows anything about this business knows 1.45% is super cheap. Probably too good to be true.
It’s usually misdirection – make it look like like a great deal over here while you hide what’s really going on over there. It’s that way on many of our competitions’ statements.
So how do you deal with it?
The name of this game is psychology/strategy, NOT presentation.
IMPORTANT: Even if he’s totally wrong, he thinks he’s totally right – none of your competition has ever been savvy enough to get beyond diversion.
If you launch into presentation, he’s heard it before and you’re automatically tuned out.
If you launch psychology/strategy you play the card called “Seed of Doubt.”
“Hmmm…. if you have 1.45%, we’d better take a look at that.”
The last one we looked at did say 1.45%!
BUT, like usual it was 1.45% + all the other fees.
That equals a VERY EXPENSIVE “Effective rate” and $1,247.12 more than the guy needed to pay.
1) “Hmmm…. if you have 1.45%, we’d better take a look at that.”
2) Get the statement and send it over.
3) We’ll crunch the numbers and have them back to you so you can get the deal the same day (momentum is the other end of psychology/strategy).
We’re here for you.