Real Estate: 5 Traps that weaken Conversion of your Walk-ins to Sales
“Happy Diwali Arun” said Jayant, CEO, Charmed Life Properties “When are you lighting our sales fireworks?”
“Site visits have picked up Chief” said Arun, Head of Sales “After our site tour protocols were made Covid compliant, the visitor turnout has gone up smartly at all our sites. Our virtual visits are a big hit… “
“That’s all fine” interrupted Jayant. “Talk to me about lead conversions. We’re at 2 – 3 percent. We should double that to 4-6 percent. How can we?”
“That should happen soon Sir” said Arun “Analysts point out how the pandemic has reinstated the desire for home ownership. There is a surge in demand for ready to occupy homes. That should help us liquidate our inventory overhang in the next month or two”
“Arun, the demand peaking out there, doesn’t mean our Real Estate Sales Conversions will peak! Our Sales Teams are missing the excitement, enthusiasm and premiumness essential for selling upmarket Real Estate properties like ours. Is the cost of poor sales conversion of such precious and high price walk-in’s known to them? Are they walking into traps that prevent them from converting walk-ins to sales? Should we help them with cutting edge Real Estate Sales Training, that helps them avoid, fearlessly face and overcome such traps? Here is a friendly forward a friend sent me that talks about the 5 such traps… Read, reflect and review our current processes and skill levels, and then let me know. This demand spike may not last long. We must run!”
“We will quickly get our act together Sir. I will come back to you in a day or two” said Arun.
“Ok, let’s discuss your plans to hit 4-6 percent conversion tomorrow” said Jayant
5 Common Conversion Traps that Real Estate Sales Teams walk in to
Battle hardened real estate sales professionals know that site visit conversions weaken, when Sales Teams walk-in to these 5 commonly observed traps:
- 1. Inadequate leverage of brand positioning – The salesperson is unaware of how to articulate what makes your real estate special, distinct and unique.
- 2. Inconsistent and ineffective Customer Engagement – In many site- visits, the hurried qualifying criteria is 'are you looking for ready possession' or 'you are looking for delayed possession’. Else it is, ‘are you looking for investment or you are looking for own use?’ Then concludes with a briefing on pricing and amenities, so that the next Customer could be attended to. This leaves the Prospect wondering “Can I trust them?”. It’s no surprise that he decides “Let me think it over”
- 3. Focusing on product rather than on the Customer– In the anxiety to get the Prospect to buy, the pitch focus is more on product features rather than on customer’s specific needs and wants. This transactional impersonal approach does not even allow the Prospect a chance to think aloud. Let alone making the buying decision.
- 4. Not anticipating and addressing Customer’s specific concerns and queries – Far from being accurate, anxious Sales Teams resort to assuming a Customer need, which then exposes the Salesperson’s lack of competence, and leads to loss of a conversion opportunity.
- 5. Improper post visit follow ups – Patchy follow up calls that mindlessly ‘hound’ the Customer and poor response to call back requests always weaken and destroy the purchase intent created during a site visit. The Sales Team is seen as ‘making him buy that house’ rather than ‘helping him buy that house’. Sales Conversion remains a distant dream.
How about your Sales People? Are they conscious of and mindful in avoiding these 5 traps? Or, are they prone to walk into them?
The good news is they can learn! All it takes for them to stay out of these traps is to strengthen their Sales Competence, through well crafted Real Estate Sales Training, that's customised to your specific needs. Excellence is attainable.
Want to spike up your Real Estate Sales Conversions right away?
For an accurate assessment of your Real Estate Sales Conversion capability, and how you can make the most of the current spike in Customer interest in Real Estate, leave your Contacts here.
A Mercuri India Consultant will be happy to set up a conversation at your convenience to understand your specific needs in Real Estate Sales Training, and put together a customized Real Estate Sales Training solution, that helps extract value from your walk-ins, before the current demand surge fades away. Let’s talk! Let’s make sales happen!
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Below are some related reading links that point to how Sales Teams can learn to overcome these 5 challenges without being trapped by them:
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