As the Team Leader, you’ve taught your salespeople how to establish credibility and determine whether the prospect is a potential buyer.
Now what?
Many agents think they are selling the prospect as they spend hours touring home after home. BIG MISTAKE! This isn’t selling; it’s called “buying” on behalf of the prospect! The salesperson did very little selling. Instead, they were tour guides, which is not the best investment of their time.
Once the salesperson has narrowed the prospect’s list of wants and must-haves, further refinement of the search can be done without a physical tour. This is the magic of technology. A digital presentation is much more professional than hauling people around.
This won't remove the need to physically show a property; however, initial digital presentations will allow for fine-tuning what the prospect is looking for. This method will reduce the prospect’s stress because they can scroll through pictures and descriptions of properties without the hassle of having to physically visit them.
There will always be those who won’t consider buying a property without walking through it. More reason for why a salesperson needs to ensure the specific properties visited meet the refined criteria of the prospect before scheduling the physical tours. The goal is to reduce the number of properties shown, and set the stage for a choice of two!
Agents think the more choices presented, the better. This is not the case. Neuro-scientific research shows it’s easier for a person to make a choice when there are only two options.
Also, make sure the properties presented are no more than 10 percent above the prospect’s budget. A prospect may be willing to pay 10 percent to 15 percent more than they can afford, but taking a prospect to a property costing much more will cause the loss of credibility and create an uncomfortable situation. Acknowledge the property is slightly more than the prospect said they were interested in spending, but this property meets the majority of the criteria they are looking for so they should see it anyway.
Get them to agree or disagree with your suggestion!
As the different properties are described, share the benefits the prospect will enjoy when they acquire the property. Don’t limit this to the most immediate, paint them a picture about future benefits.
Everyone wants to be in the right place at the right time, so let them feel like they will be well positioned for the future. Say something like:
“When investing in a piece of real estate, you need to think about the future. You want to make sure your investment is a good investment today and a great investment for tomorrow.” The words, “great investment” is good enough- never present actual estimates.
This would be the perfect time to present a CMA of the property.
Be conservative when promoting. If you walk out on a terrace and it has a fabulous view, do not say, “This is a fabulous view.” That is obvious and makes you sound like a typical salesperson. In this instance and whenever possible, attempt to paint a word picture of how the client might benefit from a certain feature. Say something like: “This is where I would sit with a drink each evening to unwind from the day.”
Here’s an interesting fact - people are more motivated by the fear of loss than gaining a benefit when making decisions. Make sure to show the prospect what they’ll miss out on if they do not move forward today. Subtly introduce urgency and scarcity. A delayed decision could mean someone else slips in and buys the property out from under them.
Coach your salespeople - when showing a property, a prospect may ask: • How much did you say this property was? • When is this property available? • How long has this property been on the market? • Have there been offers on this property? • Why is the owner selling the property? • How long has the current owner owned this property? • When do I have to make a decision?
These are "buying questions" so knowing this property is now being seriously considered allows for the subtle dropping of hints this property is a very hot commodity. It is expected to sell quickly because the owner is motivated and has priced it under market value!
It’s time to pick up the pace. The prospect will get caught up in the agent's energy and unknowingly begin to respond to the urgency involved. Protecting their interest by getting this property “off the market” becomes the next step.
Once the prospect begins asking the buying questions, EVERY WORD COUNTS so use them sparingly. The GOAL is to get this property OFF THE MARKET!
