Getting Butts in the Barstools

The number one question I hear from developers is: How can I convert browsers into buyers? Last week, a client simply said, "Let's get butts in the barstools!"

In order to convert qualified purchasers, a development needs a straightforward sales process, an understandable pricing plan, and a defensible market position. However, a prospect needs one more thing in order to buy--'a sense of urgency.' In this blog, I will explain the first three prerequisites to securing a sale, and I will explain how to create the magic that you'll need to seal the deal.

1) A straightforward sales process
Establish goals for a each prospect visit. Visit #1: Obtain prospect's contact information, Identify their motivations for moving, Present community concept, Tour model(s), Identify a reason for Visit #2. I have found a great soft close to be: 'Are you interested in learning about our Reservation Process?" If not, offer to tuck a Written Reservation Policy into their marketing package for later reference. Sometimes, all that is needed to move a sale forward is the next step in clear sight.

2) An understandable pricing plan
Prospects need to be able to understand the pricing schedule. Are corner units more expensive? Why? Are upper floors more expensive? Why? Are there any 'values' created by this pricing strategy? If several levels of finishes or interior packages are offered, purchasers need to understand what is included in each package with a firm price attached. If it can be helped, do not approach every sale as a custom unit that requires backroom pricing. Transparency is key to earning the trust of the prospect and to moving the prospect forward in the sales cycle.

3) A defensible market position
Know your competition's strengths and weaknesses as well as you know your own product's. It is important to stay up to date with the competition's latest incentives, amenities, and standard specifications. When you have this information, you will be able to identify how your product can help the prospect attain their goals, while respecting their budgets. When you show a prospect how your product compares with the competition, you save your prospect hours of homework. Most importantly, you clear confusion that keeps a sale at bay.

4) A sense of urgency
Why should your prospect buy right now? If you can't answer this question, then I guarantee you that your prospect will not take action. Prospects need to feel like people first, and customers second. Make a prospect want to visit you, to interact with the product, to learn more. Become a problem-solver and a solution-finder. Extend a special offer in writing to your prospect such as 'one free Asko washer & dryer installed side by side in master laundry room' with purchase agreement dated on or before April 20, 2008. Sign it. When you find ways to keep open dialog with a group of prospects, you will find that you have created your own momentum. And, multiple offers definitely increases a buyer's sense of urgency, don't you think!