Is Your Money Mindset Costing You Sales?

A salesperson’s personal perceptions and beliefs about money subconsciously drive their behavior in every sales conversation, according to Dave Won, a Certified Money Coach who helps sales teams understand the invisible money beliefs and stories that drive their everyday decisions. Won recently spoke at the Regional Industrial, Commercial & Investment Conference cohosted by the Greater Harrisburg Association of Realtors®, Lancaster Association of Realtors®, Realtors® Association of York and Adams County, Reading Berks Association of Realtors® and the Lebanon County Association of Realtors®. 

So, is your money mindset costing you sales? 

Won shared that three things drive every sale: sales discipline, opportunity/courage and money mindset, which is a focus on the money. 

“You need all three of these things to make sure your sales approach is complete,” he emphasized. When it comes to having a money mindset, he asked Realtors® and real estate professionals if they’d ever been in a sale and thought: 

• “I’m not comfortable with the price myself, so the buyer probably isn’t either.” 
• “If I discuss money with them, I’ll risk losing the relationship.” 
• “I can’t let this opportunity die. What if I don’t get another one?” 

“These thoughts are tied to scarcity, fear of rejection and unworthiness,” Won said, which hurts sales transactions and has the potential to kill client relationships. 

He urged Realtors® not to be afraid of asking the money-minded questions. “Don’t wait for them to bring it up, or else you’re giving them the power to define the terms,” he explained. “Then, by the time they bring it up, you’re already negotiating from a position of weakness.” 

Won stressed that clients can feel lack of conviction, which is why it’s important to be confident and lead the sale with a money mindset. 

“If you need the deal more than the client needs the solution, they’re going to feel it in your body language and in the tone that you use. And nothing kills a deal faster than when a salesperson is desperate.” 

“You will never be able to outsell your money beliefs,” he added, noting that any salesperson’s money beliefs will always act as the ceiling to their selling potential and highlighting the importance of confidence. 

Instead of having a mindset tied to scarcity, fear of rejection and unworthiness, Won recommended Realtors® adopt these two major mindsets to get the most from their sales: 

1. “My job is not to decide what the client can afford. It’s to have a deep understanding of their problems, present the full solution and let them decide.” 
2. “I am done playing small. I am going after real opportunities.”