In our current buyers' market there are only slightly le buyers than at the peak of the frenzied ma
In our current buyers' market there are only slightly le buyers than at the peak of the frenzied market, but two things have changed. First, the number of properties for sale has risen almost 400%. Secondly, su rime buyers are not able to get the easy money loa of yester year, so as many as 25% of the buyers from last year can no longer get conventional financing. However, sellers still have the option to do creative financing to sell their houses.
I get questio all the time from realtors and investors about how am I able to sell my properties so quickly, ecifically "what do I say to pro ects?" I believe the following proven sales techniques are the most powerful anyone can use once you have a pro ect in your property or you are pre-qualifying them on the telephone.
Because of changing social norms, it seems it has become socially acceptable to lie to your counterpart in the sale. I co tantly remind myself that "Buyers are Liars" when I am selling and when I am buying that "Sellers are Liars". Don't believe either one of them - that's the best option! How many times have you as a seller had a per ective buyer say they were in love with your home, would pay your price and would get back in a day? Then you never hear from them again and your calls are never returned. Same thing with a seller who says your offer is OK and he will sign after his "attorney reviews the contract". Again you never hear from them and they don't return your calls. This is why I said keep selling my properties even after I get a primary contract on the property.
Also, I am now using a "kick-out" clause with the primary buyer and inform the second and third place buyers that they are signing backup contracts. I collect deposits from everyone who wants the property and sig a contract. However, I have gone to taking only one deposit i tead of two, and I am requiring the amounts I got last year. Why? Because I want to make the pro ect feel that I trust him and it has worked in all my sales this year. The key to the strength in this method is to simply keep selling the property even after you are in contract - trust no one and keep selling!
The key to succe fully selling your home(s) is to fit the property to the clients' needs and ask more questio then they ask you. I call this sales proce "Meeting the Needs of the Buyer". It is a statistical fact that anytime a pro ect says they want to wait, want to have someone else look at the property, or want "to think about it", they only buy 5% of the time. By asking questio you should get a feel for what the per ective buyers don't like about your property and can use this to cleverly find a solution for the "short fall" in your property. For example, "It seems that price is your only objection to this home, what were you thinking you wanted to pay?" which is an open ended question that starts a negotiation or sto the pro ect from wasting your time. Or the i ue might be "I se e that you entertain a lot and really need a bar for your guests, is that right?" And follow up with, "What if I gave you a $2,000 credit to build a Super Bar in the pool area - would that make it work for you?"
In summary, you are best when you become a "customer service representative", a wering questio and solving problems, rather than becoming the most powerful sale erson trying to close your pro ect. The playing field has changed and will be changing even more dramatically in the future as buyers continue to become more sophisticated and are using new online we ites to find homes on their own.
I get questio all the time from realtors and investors about how am I able to sell my properties so quickly, ecifically "what do I say to pro ects?" I believe the following proven sales techniques are the most powerful anyone can use once you have a pro ect in your property or you are pre-qualifying them on the telephone.
Because of changing social norms, it seems it has become socially acceptable to lie to your counterpart in the sale. I co tantly remind myself that "Buyers are Liars" when I am selling and when I am buying that "Sellers are Liars". Don't believe either one of them - that's the best option! How many times have you as a seller had a per ective buyer say they were in love with your home, would pay your price and would get back in a day? Then you never hear from them again and your calls are never returned. Same thing with a seller who says your offer is OK and he will sign after his "attorney reviews the contract". Again you never hear from them and they don't return your calls. This is why I said keep selling my properties even after I get a primary contract on the property.
Also, I am now using a "kick-out" clause with the primary buyer and inform the second and third place buyers that they are signing backup contracts. I collect deposits from everyone who wants the property and sig a contract. However, I have gone to taking only one deposit i tead of two, and I am requiring the amounts I got last year. Why? Because I want to make the pro ect feel that I trust him and it has worked in all my sales this year. The key to the strength in this method is to simply keep selling the property even after you are in contract - trust no one and keep selling!
The key to succe fully selling your home(s) is to fit the property to the clients' needs and ask more questio then they ask you. I call this sales proce "Meeting the Needs of the Buyer". It is a statistical fact that anytime a pro ect says they want to wait, want to have someone else look at the property, or want "to think about it", they only buy 5% of the time. By asking questio you should get a feel for what the per ective buyers don't like about your property and can use this to cleverly find a solution for the "short fall" in your property. For example, "It seems that price is your only objection to this home, what were you thinking you wanted to pay?" which is an open ended question that starts a negotiation or sto the pro ect from wasting your time. Or the i ue might be "I se e that you entertain a lot and really need a bar for your guests, is that right?" And follow up with, "What if I gave you a $2,000 credit to build a Super Bar in the pool area - would that make it work for you?"
In summary, you are best when you become a "customer service representative", a wering questio and solving problems, rather than becoming the most powerful sale erson trying to close your pro ect. The playing field has changed and will be changing even more dramatically in the future as buyers continue to become more sophisticated and are using new online we ites to find homes on their own.
