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New-home salespeople are
constantly bombarded with the concept that 50+ buyers are different buyers than
everyone else.
Conventional wisdom told us that the 50+ buyer is in no hurry to buy, many have
homes to sell first, and the buying process is a long period of time, not the
10-21 days that other buyers average. “Sometimes these active adult buyers
take 12-15 months to make up their minds,” we were told repeatedly.
This created an industry-wide
mindset: “We’re won’t make this sale quickly. We have to set
up the sales process for an extended time.”
Here’s a good argument
against that old theory based on a strategy developed for successful –
and often faster – sales.
I worked with Del Webb, undoubtedly America’s leading developer and builder
for the active-adult market, for five years as a consultant and coach to their
sales teams in cities throughout the country. I’m convinced that the single
most important factor in successfully selling to these buyers is to understand
where the buyer really is coming from, what their motivation is, and what their
real purpose is for visiting your community.
Sounds simple, doesn’t
it? It is simple. Here’s how it works:
The first important question to ask: “Is this something you’re considering
doing now?”
The reason I ask that question is that the customer very likely will give you
an array of answers: “Maybe, we’re not sure, we’re going to
retire in two to three years, etc.”
Once you clearly understand
why they’re there in the first place, you can begin to move closer to
your customers, align with them and achieve the ultimate goal of ‘balance
and alignment,’ which I explore in great depth in Building Results, The
Ultimate How-To Guide for New Home Sales.
Released in July, this
book challenges traditional sales principles with a combination of long-used
critical path processes, newer techniques from Neuro-Linguistics Programming
and dynamic communications practices from some of the business world’s
most successful sales and motivational programs.
Sometimes the buyers’ answers will be exactly what they originally told
you, but at this point you are deep in the process of building trust and rapport.
If their timeframe for purchasing is within a year, you might talk to them about
buying now as an investment, while prices and interest rates are low. “Take
advantage of favorable financials and buy your property as an investment,”
you might say.
By understanding the motivation
for their visit, you have made a connection with them. The 50+ buyer is a more
knowledgeable buyer, often motivated by the same things as a 30+ or 40+ buyer.
They have a purpose for visiting your model home; if you understand that purpose,
you can develop your sales presentation and meet your objectives.
A few years ago, I was coaching a Del Webb salesman as he demonstrated the diorama
in the sales office, explaining the community features and geography. He was
doing an excellent job, and then he asked if the buyers wanted to see the model
homes.
I interrupted and said:
“Excuse me, but do you mind if I ask a question?”
They agreed, and I asked: “Is this something you’re considering
doing now?”
“Oh, it probably will be three, four or even five years from now,”
the husband replied. “We’re looking at this community while we’re
in Las Vegas, but we also plan to visit similar communities in California, Florida
and the Carolinas.”
“What we’re really doing,” interjected the wife, “is
gathering information.”
I clarified their comments:
“Your purpose today is to gather information on this development and then
make a decision at a later date after you’ve compared this community to
others?” They agreed.
“Do you know that
we’re selling about 700 of these homes annually, and there will only be
1,800 homes total here in Las Vegas? Which means that within two and one-half
years, we’ll be sold out.” The looks on their faces told me it was
new information.
Then I asked: “Given
that circumstance, would you possibly consider purchasing a home here as an
investment property? You wouldn’t live in it now, but if you still like
it in two or three years and it compares favorably with other communities you
look at, then you could move into it. If not, then you’ve got a great
equity investment toward purchasing in the active-adult community you do prefer.”
I asked if they wanted
us to follow up with them as they viewed other communities. It was the perfect
sales strategy for what they were doing that day, and it also provided the salesman
with a follow-up strategy.
The real benefit in this strategy is that you and your customer are in alignment
with each other. You’ve established trust and credibility and undoubtedly
have increased the chances of selling to them sooner. The other advantage is
that they may refer friends or family to you because they feel they’re
dealing with a trusted, empathetic sales professional.
During my five years with Del Webb, I shadowed hundreds of salespeople. My role
was to understand their skills with a better ability to coach them after their
presentations.
But there was another benefit.
I also was able to witness hundreds of buyers answering questions, and I made
a surprising discovery. The 50+ buyer is really just a more sophisticated 20+,
30+ or 40+ buyer. They make their decisions very similarly, and they have many
of the same needs and desires.
The great thing about the
50+ buyer is they generally are very nice people – and they’re smart.
They’ve matured, settled their lives and frequently are not answering
to or providing for anyone but themselves.
As you move ‘into
the zone’ of discovering, communications and alignment with your buyers,
you will become more and more aware of how and why they buy and what you can
do to become their trusted counselor and friend. And that puts you firmly onto
the path to successful sales.
~~~~~~
Robert E. Hafer, MIRM,
CSP, principal and founder of Robert E. Hafer & Associates LLC, is the author
of Building Results, The Ultimate How-to Guide for New Home Sales Professionals,
released in July by Upper Canyon Road Publishing of Richardson, Texas.
###
For additional information,
to order Building Results to review or additional photos, please contact:
Karen Taylor, Upper Canyon Road Publishing, 914 Chadwick Drive, Richardson,
TX 75080 ? (972) 889-2800 ? karen.taylor@southwestink.com
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