In our current buyers' market there are only slightly less 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, subprime buyers are not able to get the easy money loans 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 questions all the time from realtors® and investors about how am I able to sell my properties so quickly, specifically "what do I say to prospects?" I believe the following proven sales techniques are the most powerful anyone can use once you have a prospect 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 constantly 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 perspective 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 signs a contract. However, I have gone to taking only one deposit instead of two, and I am requiring ½ the amounts I got last year. Why? Because I want to make the prospect 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 successfully selling your home(s) is to fit the property to the clients' needs and ask more questions then they ask you. I call this sales process "Meeting the Needs of the Buyer". It is a statistical fact that anytime a prospect 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 questions you should get a feel for what the perspective 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 stops the prospect from wasting your time. Or the issue might be "I sense 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", answering questions and solving problems, rather than becoming the most powerful salesperson trying to close your prospect. 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 websites to find homes on their own.
Source: http://www.ArticlePros.com/author.php?Dave Dinkel
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