Don’t Talk! or Please Listen?

Most advisors spend too much time talking and not enough time listening?

True or False?

Of course the answer is… It depends.

Some recent examples I have experienced:

I was teaching a workshop of 16 advisors and one young man did not find it necessary to listen but found it acceptable to chat throughout the entire workshop to his friend. I am thinking that this was not a worthwhile meeting for him because he certainly did not listen to what I had to say. It would lead me to believe that this same advisor has a hard time listening to his clients or prospects. He wondered why he wasn’t closing!

I met a recently widowed woman who came in with a trusted friend. I asked “How can I help”? She then spent the next two meetings telling me her story, how the other advisors told her what to do and what she needed. At the end of the second meeting I asked if she would like to be a client and she said “Yes, because you listened”.

Now without citing lots of statistics, we know that most people like to talk about themselves and do not like to listen to stories about others. I would suggest that advisors who spend the time to listen will develop deeper and more meaningful relationships with their clients and prospects.

A deeper relationship will mean more loyalty. More loyalty means better retention and better retention leads to higher profitability.

Think of it this way, how would you feel if the doctor gave you the prescription without listening to you first?

Guide – Allow people to tell their story and how you can help them. If you ask them, they will usually tell you if you let them.

Action item – Try to spend much more time being an active listener. Really pay attention and take notes. Let them know you are listening and most importantly, don’t interrupt – It’s rude.

© 2009 The Advisors Center, LLC – All Rights Reserved

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