Marketing Insight for Master-Planned Communities

A Confused Prospect Never Buys

A Confused Prospect Never Buys

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If you have been observant and understand the wants of your prospect and know your inventory, you know where you are going to lead them. But before you go, review properties and their attributes with your prospects.

Never be afraid to repeat yourself. People don’t remember what you say, but they need to feel that they know where they are going and what they are doing. Otherwise, they get confused, and a confused prospect never buys.

Rarely show more than four properties the first time that you are together with the prospects.

Showing ALL You’ve Got. There are three reasons people want to see “everything you’ve got”:

  1. They are not sold on you. They don’t really believe that you have their best interest at heart, or that they can trust you as their eyes to select what’s best for them to see.
  2. You haven’t controlled the situation so they don’t know your professionalism and the way you do business.
  3. You have forgotten what business you’re in. You’re not in show business; you’re in the sales business. Most real estate people show and tell: show all they’ve got, and tell all they know. That’s the reason so many people in this business are broke except in extremely strong markets.

Let’s assume you are demonstrating four homesites. The worst thing to do is to go out and show four that all fill the bill for what these people want. Here’s why not:

  1. Value perception is vital. The value is not just the money, but the value based on all points that are valuable to the prospect. In addition, value perception is based on comparison of one item to another. This is true whether it is diamonds, cars, or homesites.
  2. If you show all the properties that fill their requirements, there is a good chance that you will simply create confusion. (Always remember that a confused prospect never buys.)
  3. By showing all the properties that fill the bill, you are destroying any fear of loss that could take place. They are likely to say, “Looks like plenty of these to choose from. Well just think about it for a while and get back with you in a few months.”

Your primary goal at this point is to reduce the number of properties under consideration as soon as possible to the one-of-a-kind property that is ideal for them. It is the only way you can generate the fear of loss in the prospects mind. That fear creates a sense of urgency for them to act.

Never write out a list of all the properties you’re going to show! I did that when I first started sales at Hilton Head thinking it would demonstrate how organized and knowledgeable I was. Actually, it just locked me into showing all those properties when I may have hit pay dirt on property number two.

Do not arrange your property showings according to their geographical proximity unless you find it absolutely necessary.

Show each property with an attitude of sincerity, but reveal a little more enthusiasm with the ones you have placed in the greater value position.

Editor’s Note: Terry Weaver authored “Secrets of Selling from Real Estate MastersWhat Top Producers Know That Others Don’t.” This book should be required reading for anyone in sales and marketing in a master-planned community.

About Terry Weaver: Terry Weaver is founder and President of Marketing & Sales Institute, Inc, which provides guidance and resources to developers, managers, and sales executives of luxury communities.

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