Do you sometimes feel your competition is creeping up on you with new amenities, products, and special incentive programs? Do you devote a lot of your resources to keeping big luxury production builders at bay?
Here’s something you may not realize: Your biggest competition is not the builder next door or even one in the next town. Your fiercest competition comes from prospective buyers and their attitude toward the home-buying process. Nothing has more of a negative impact on your ability to sell houses than a buyer’s indifference and indecision. While it is important to have knowledge of your competition, it is more important to know your buyers.
How often have you worked with prospective clients only to find out they decided not to invest in your new home, or in any new home? You felt they were genuinely interested in your company and your sales presentation was moving along nicely when suddenly they seemed to turn cold. When you followed up a month later, the prospects indicated they decided not to buy anything and just stay where they are.
Here is how you can win the battle against indecision:
Condition your prospects to make choices
Ask them to make many small decisions along the way. For example, engage them in creating a wish list of products, amenities, and features they want in their new home. Each item on the list requires them to make a small decision.
Set expectations
Reduce the intimidation factor by disclosing how the new home sales process takes place. Begin with site selection. Move to product selection followed by the paperwork process and finally move-in. Caution: Do not overwhelm potential buyers with this information, merely provide an overview and then ask, “Which part of the process needs more explanation?” By discussing the process, there’s less chance of surprises, and the buyers’ confidence in you is strengthened.
