The Right of Rescission

May 29, 2018

About the author: Carl Davidson is director of Sales and Management Solutions, Inc., a consulting firm specializing in sales and management video training, recruiting and live seminars exclusively for the water equipment industry. A free demonstration video and list of products and topics is available at 800.941.0068. Send comments on this article to him at [email protected];

Related search terms from sales, business

There is a final, last-chance Hail Mary close that you can try when you get those customers who want to think the sale over after you have tried every way to get past their objections without success. This close uses what many perceive as a weakness—the right of rescission—and turns it into a fulcrum that is used to get the sale.

Most managers and salespeople do not like to talk about the right of rescission, but when you are leaving the customer anyway it may be time to use this close.

So what is it? Most states have laws that give consumers three business days to cancel any contract made in a place that is not the normal place of business for the company, and this applies to the customer’s home. The customer has, by law, the right to cancel with a full refund.

The Setup

For this article, I am going to assume that your business has a first-night special that the customer only gets if they make a purchase on the first night. This package might be a $300 installation, a half-ton of salt that has a $100 value and an extended warranty on the equipment worth $300, for a total savings of $700 only if the customer makes the purchase on that first visit.

How to Execute

Let’s assume the customer has told you they want to think it over before making a decision and you have already tried several ways to overcome this objection that have not worked.

You might say something like, “I don’t blame you for wanting to think about it. In fact, I am glad you want to be sure this is for you. How long do you think it will take to think it over? Would two or three days be enough time? Here’s what I suggest: As I explained, if you go ahead tonight, you get free installation, a half-ton of salt for free and a $300 extended warranty. Those items together add up to $700 in savings. I hate to see you miss this opportunity to save so much money. But the state has passed laws that give you three business days to think it over, so if you decide to cancel we are forced by law to cancel your contract and give you a full refund.

“But here’s the thing: You have two choices. You can send me away tonight and take three business days to think it over; however, that means you will not be eligible for our savings package, which is only available the first time we come out to your home. Your other option is that we can get the paperwork done with the $700 savings. You can then take three business days to think it over. If you have any doubts, just cancel and receive a full refund by law. Either way, you get to think it over. It just does not make sense to think for three days and lose $700 when you can think for three days and save $700. I’ll get the paperwork started.”

Then put your head down and start writing the order. Notice that I am not suggesting that you end by asking them if they agree or if they want to proceed. You will sell far more if you end with a statement and not a question.

If they say they still want to think about it, that means they did not believe you or they have another objection. If this happens, I suggest you say, “I know you would be taking advantage of this if thinking about it was your only concern. Can I ask, what else is keeping you from making the right decision tonight?” When they answer, you will have uncovered the true objection.

Does this close work every time? Absolutely not, but it works a lot better than leaving without trying.

Download: Here

About the Author

Carl Davidson

Sponsored Recommendations

ArmorBlock 5000: Boost Automation Efficiency

April 25, 2024
Discover the transformative benefits of leveraging a scalable On-Machine I/O to improve flexibility, enhance reliability and streamline operations.

Rising Cyber Threats and the Impact on Risk and Resiliency Operations

April 25, 2024
The world of manufacturing is changing, and Generative AI is one of the many change agents. The 2024 State of Smart Manufacturing Report takes a deep dive into how Generative ...

State of Smart Manufacturing Report Series

April 25, 2024
The world of manufacturing is changing, and Generative AI is one of the many change agents. The 2024 State of Smart Manufacturing Report takes a deep dive into how Generative ...

SmartSights WIN-911 Alarm Notification Software Enables Faster Response

March 15, 2024
Alarm notification software enables faster response for customers, keeping production on track