Blog
You keep doing what you’ve been doing…
I used to volunteer coach high school basketball and youth baseball and my players heard the above phrase quite often. It wasn’t rocket science. If they weren’t getting the results they desired, they had to change what they were doing. Same applies to us in real estate in this market.
Many of the old ways we used to sell do not work in this market. For example, creating urgency, we used to use limited supply and lots of demand to motivate people to go ahead and buy. After all, if they didn’t buy, somebody else would. And your last close was probably telling your prospect, “You don’t have to buy today. You can wait and pay more later.” And guess what? That was true in that market, but not today.
Our buyer has changed and we have to understand how to create urgency in our current market. There’s not room in this column to go into that much detail, but suffice it to say, scarcity of supply and high demand is not relevant in today’s market. So how do we create urgency? The best way is to find out what is truly important to your buyer. For some, value will still drive their purchase decision, so you had better do a super job building value and why NOW is the time.
However, I believer more sales will be made based on emotion, and justified by logic. What is the emotional hot button of your prospect and how can you share third party testimonials to tell stories that touch your prospect’s heart, versus talking numbers and price which only touches his head? I’ll try to cover this in more detail later. In my opinion this is the most important thing you can do in this market to increase your closing percentage. The brevity and uncertainty of life are far greater motivators to the baby boomers who have lost friends and family to cancer, strokes, and sudden heart attacks. How many more Christmases do they really have?
You have to be careful in your presentation of this, and as always stories of other customers of yours in a similar situation carry much more credibility than you. The reason this works is because it is TRUE and those of us who are over 50 understand that.
If you are not pleased with your recent results, change what you’ve been doing so you don’t “keep getting what you’ve been getting.”
Posted on 02/08 at 08:56 AM
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