(article previously published in April 2020)
Historically, due to the absence of online media, the buying and selling of homes was a face-to-face process. The developer sold apartments and you went to his house to buy them. At most, advertising was used to advertise the offer.
Most of the process was carried out at the developer’s home. With more or less investment, the sales material was prepared (brochures, models, plans, prices,…), the sales space (waiting room and meeting room). In the best of cases, even a show apartment was built to be visited.
That is, the physical means that existed were used for a purpose :
Obtain sufficient trust from the potential customer before building what you wanted to sell him, i.e., get ahead of the future.
All this with an added difficulty. We’re not talking about buying shoes. The challenge is to close the most important purchase in the customer’s life.
You lose nothing. Invest the same but in new media.
THE TRADITIONAL PROCESS
Historically, due to the absence of online resources, buying and selling homes was a face-to-face process. The developer sold apartments, and you went to their house to buy them. At most, advertising was used to announce the offer.
Most of the process took place at the developer’s home. With varying levels of investment, sales materials were prepared (brochures, models, floor plans, prices, etc.), as well as the sales space (waiting room and meeting room). In the best-case scenario, a show apartment was even built for viewing.
In other words, the existing physical resources were used for one purpose:
To gain the potential client’s trust before building what they wanted to sell—in other words, to anticipate the future.
All of this came with an added challenge. We’re not talking about buying shoes. The challenge is closing the most important purchase of the client’s life.
You have nothing to lose.
Invest the same amount, but in new media.
THE TOOLS HAVE CHANGED, AND SO HAS THE PROCESS
These changes have nothing to do with this damned pandemic. They’ve been brewing for a while.
It’s clear that new technologies (virtual reality, renderings, augmented reality, virtual tours, video, interactive video, etc.) have provided you with new tools for persuasion and sales.
But,
what distinguishes these tools from those we’ve always used?
They’re not in-person. The client doesn’t have to go to the developer’s office. And that simple fact has many advantages.
Online access to information has made buyers more proactive. They no longer receive information about your promotion in their physical mailbox. That push-based strategy was like using a cannon to kill flies. It focused on offering deals regardless of demand.
The customer uses the pull method. They don’t want to be sold to; they want to buy.
Before the COVID-19 pandemic, a trend was gaining momentum:
Customers want to buy their homes, not be sold to. They need to have the autonomy to make decisions. When they ask for information, give it to them. In the meantime, offer them the tools to win their trust.
Of course, you’ll eventually have to meet in person, but if you don’t fulfill the above, you won’t be able to shake their hand to close the deal.
COVID-19 HAS CHANGED MANY THINGS
I’m not saying it will change. I’m saying it already has.
The process of buying and selling a home has been altered. As of today, it’s not that it has changed, it’s that no transactions are taking place. This situation is temporary and will gradually ease.
It’s a good time to prepare for the future. Reflect and create a business plan. Establish the new rules of the game.
WHAT WILL YOU NEED FROM NOW ON TO SELL?
ADAPT TO THE CLIENT
Each person will manage their fears and precautions as best they can, and the salesperson must adapt to the conditions set by each potential buyer.
GET INTO YOUR NEW SALES ROOM
We talk a lot about remote work as a solution, but it seems we struggle to understand that non-face-to-face sales are the trend.
We need a neutral channel to connect with our client on a personal level.
“The new sales room is your client’s living room.”
That’s where you need to be. I’m not talking about the real estate portals that have already become part of our lives. I’m talking about you, about your property. You no longer have to wait for them to come to you; you have to go to them. Make it easy for them. But you can plan that process yourself.
THE PSYCHOLOGY OF SEDUCTION
You must approach the audience with seduction, not information. Yes, you must inform, but remember: decisions are made with the heart.
Your online sales materials must evoke emotion. Transform your product into something aspirational. Evoke the “I want it.”
When we create a promotional video, we always accurately portray the project, but above all, we focus on the emotional factor to persuade. It’s crucial.
MANAGING DISTANCE AND TIME
In these sterile times we’re living in, physical distancing doesn’t have to become a barrier. Your connection to homes via cable will be your lifeline to the customer. Play smart. Take advantage of all the benefits technology offers. But trust me, always aim for their heart.
Give them more space and time for their own reflection. Customers no longer tolerate pushy salespeople. They like to make their own decisions. Accompany them, but respect their pace and boundaries. The art, the magic of selling, happens in the mind, and for that, you don’t need to invest in a physical sales space.
DO AS THE VIRUS DOES
If you wait for COVID-19 to disappear and return to your old strategies… you’re doomed.
New viruses will almost certainly emerge, and if you haven’t changed your approach, you’ll find yourself facing the same problems again.
So, reflect, plan, and act. The process has changed, and you must adapt.
Evolve, or your business will die.