R E Sales is moving into a new phase and it is NOT all about Selling

Barry Osborne

Over the weekend I was exposed to the latest in Car Salesmanship which I had forgotten about, where a customer is not allowed to leave the premises until they have signed a deal. It was 4 or 5 years since our last purchase and I had forgotten about how a simple act of wanting to test drive a car, becomes this major purchase and the loss of the whole day. 

Now I have said in past blogs that the Car Sales and House Sales Industries are grouped under the same legislation and I suppose it is understandable because they are both selling high worth items and in both cases you can become a Salesperson with very little qualification. Fortunately for the buyers of Real Estate the legislation has enforced a “Cooling Off” period where the buyer can rescind the contract. It should be the same with the car purchases.

I was not impressed with these Sales techniques where a sales person puts the customer under pressure to buy now when their intention is possibly not to buy at this stage. No one likes to buy under pressure particularly when it is such a major expense. But this occurs because the focus is on selling and not helping the customer as I have discussed in previous blogs. The buyer should at the end of the experience walk away with a good feeling, not a feeling that they have been taken advantage of or of being manipulated.

The experience lead me to understand more about the “Buying Decision Process” which is so important for anyone to understand and particularly if we want to bring Real Estate sales to a new level. Thank God for the Internet and as you can see in the above link, the information is so available.

How interesting that the concept of understanding the stages in the Buying Decision Process was first put forward in 1910.

A new way of thinking and understanding the buying process that has been around for well over a century and yet it appears that many sales people would not even understand the process. Any good salesperson needs to appreciate these stages if they want to ensure they achieve the sale and also make it a good experience which has the potential of producing a long term customer and more importantly recommendations for other customers. So let us go through these stages, which are:

Stage #1.     Problem/Need Recognition

My car was getting older and it was looking like costing us more in the very near future. Maybe we should be looking at a new car?

In the case of Buying/Selling your Home the situation could be any of the following:

  • financial circumstances have changed and need to cut down the mortgage

  • the present home is not big enough as the kids have got bigger or the 3rd is on their way

  • the kids have left home and the house is just too big

  • an investment portfolio needs some good properties included

Each of these needs is going to create completely different scenarios and they have to be satisfied by the buying process.

“Only when a person has fulfilled the needs at a certain stage, can he or she move to the next stage.”

STAGE #2.     Information Search

Which type of car do I now need?

This is where our Internet comes in so handy, because we can now search to our hearts content and we can get advice from all over the world. But at the end of just a few hours we could have a clear picture of the options as to what we may want to buy. This also gives us some real questions to ask the salesperson.

STAGE #3.     Evaluation of Alternatives

Are we really after a bigger car, smaller car, a least expensive car, what will the present car achieve as a trade-in?

We have a number of options in our head when buying our home and each option will have some good points and some possible bad points. It is so critical to weight up the pluses with the minuses. A good salesperson would assist the buyer in this critical evaluation and not be focused on the SALE but more importantly satisfying the need from stage 1.

STAGE #4.     Purchase Decision

On Saturday, the car salesman thought he could force a sale, but we weren’t even close to buy.

Now we are at the actual buying stage and as you can read in the above article, it can be disrupted by two factors, which are:

  • Negative feedback

  • Level of motivation to comply or accept feedback

Just like in the car buying situation, a good salesperson should be able to read the buyer and not lose a sale because they go for the hard sell when the person is not even at that point. They are there to go through any negatives that are hindering the sale.

STAGE #5.     Post-purchase behaviour

I walked out of the car sales not very impressed.

“In short, customers compare products with their expectations and are either satisfied or dissatisfied.” The whole Buying Process should be a great experience because a PROBLEM has been taken care of. The salesperson has worked magic in achieving something for the buyer that was so important to them. They will not forget and will tell their friends.

But the truth of the matter is that so often the Buying/Selling your Home experience has not been a good experience and leaves the buyer dissatisfied where it is so essential for this major purchase to be a good experience by the Salesperson thinking NOT of the sale but of satisfying the need of the buyer and creating the important solutions to their problem. 

We need to appreciate more about the new ways of marketing and selling and the future R E Sales people will learn that it is all about helping and using the techniques of Inbound Marketing. So down load now your FREE eBook on Inbound Marketing.

Download nowABC's of Inbound Marketing  ABC_of_Inbound_Marketing_for_R_E_Sales

-Modern Marketing