Video Mystery Shopping Tip: Selling Against Re-sales and Foreclosures, or the Case of the Missing Toenail!
OK, unless you’ve been living under a rock the past several years you KNOW that the re-sale and foreclosure housing markets have had a serious sales impact on the new homes sales industry. People can buy a re-sale, a foreclosure or a short sale home often for much less money than they can purchase a new home. That’s a fact, Jack. But, does that mean the new home industry is going to shrivel up and blow away??? No! And, why is that? Because people BUY homes based on emotion, and then they justify their decision logically.
So, what this means for new home sales consultants is you’ve got to get your clients to ‘fall in love’ with your product, not your price! I call this ‘romancing the home’! When they fall in love with your new home, they can easily justify to themselves all the reasons they did so.
I remember many years ago, a friend of mine was getting ready to purchase her first home and had decided to buy a re-sell, due to the established neighborhood and the excellent school systems. After sharing her exciting news with a group of us at a party, one of my good friends in the new homebuilding industry turned to her and asked: ‘Are you really going to buy a toenail house?’
We were all a bit confused by his remark, and asked him to explain his strange comment. He went on to tell us that somewhere lurking in the newly steam cleaned USED carpets of my friend’s recently purchased home there were most likely the remnants of the previous owners toenails! OK, GROSS! That story (and mental picture) has stuck with me for years! Now, while I am certainly NOT encouraging you all to prepare your sales presentations and use old toenails as your ammunition, I am suggesting to you to really think about ALL the benefits, value and emotional satisfaction that comes from buying a new home. But, in order for you to do this successfully, you first must identify from your buyers what their specific wants and needs are, and then paint the mental picture of how those needs are going to be met by purchasing YOUR new home. Romancing the Home!
Most importantly, you need to ask your prospects if they are considering re-sales, and if so what they are finding in the market. More often than not, they will give you all the information you need just by asking this question. They may tell you that the price is right, but they will have to replace a roof or an air conditioning system; or that while the home is in the perfect neighborhood, the 1960’s ranch style design isn’t really working for them. Now, here is YOUR chance to sell against that! But, until you know what you are up against, you are fighting a losing battle.
Remember, value is MUCH more than a number at the bottom page of a closing statement. It’s the emotional value of knowing you are purchasing and getting EXACTLY what you want at a price that is fair. And for me, as I learned long ago, value is also the peace of mind that comes from walking barefoot on your new carpet and not worrying about stepping on someone else’s toenails!
