For
property selling, prospective buyers never buy a house
‘cold’. They want to see the house, inspect
it, ask questions and satisfy themselves that it is
the best choice. The presentation of your house should
therefore be a POSITIVELY OVERWHELMING &
MEMORABLE PERFORMANCE or P.O.M.P.
for short.
Buyers
usually come with pre-conceived ideas of what they
are looking for in a house. They always have a mental
checklist in their mind to help them arrive at their
decision. The P.O.M.P. must therefore
address issues that will help the buyer decision to
buy your house.
You
have to look at the whole selling process through
the eyes if the buyer. What you show is not as important
as what the buyers perceive. Perception is king and
as sellers, you must manage the perception of the
buyers. And this applies it to renting too.
The
P.O.M.P. can be divided into six stages and
requires you to address several key issues to ensure
a successful sale.
Stage
1 Preparation
How
to make your house more attractive and appealing?
As mentioned in the preparation of your house for
showtime, the objective of this stage is to create
an emotionally stimulating environment to the buyers.
The goal is to give them a ‘WELCOME HOME’
feeling and convince them that this is where they
will enjoy the comfort and pleasures of life.
Stage
2 Probing
What
are the needs and behavioral patterns of the buyers?
You have to understand the motives, wants and personality
of your buyers. Only then, you can help them realize
the value and benefits of your house better. You must
uncover the needs of the buyers - a process similar
to peeling the layers of an onion to see if the buyer
matches the following ‘F.R.I.E.N.D’
ly criteria:
Finance:
Do the buyers have the money to buy the house?
Responsiveness: Are they willing to
discuss and cooperate with you?
Inclination: How motivated are the
buyers about buying your house?
Eligibility: Are they in a position
to buy your house?
Need: Can you meet their needs and
requirements?
Decision: Will they have the authority
to make the decision?
Stage
3 Presentation
How
to convince the buyers to buy your house? Falling
in love with a house is like falling in love with
a person. It is better if the sellers are “unobtrusive”
during the presentation of the house. This will make
the prospective buyer feel more relaxed and be more
open about sharing his or her opinions after viewing.
A presentation will generally go through five phrases:
Pre-up
Phase: To conduct a P.O.M.P. thoroughly.
Start-up Phase: Builds rapport with
the buyers.
Size-up Phase: Understands in greater
detail the requirements of the buyer and develops
a positive relationship.
Step-up Phase: Reinforces the benefits
and value of your house and convinces the buyer to
acquire it.
Firm-up Phase: Provides exceptional
customer service and exceeds the expectations of the
buyer so that the transaction will be completed.
Stage
4 Prevention
What
prevents buyers from buying your house? Life,
including the sale of your house, is not a bed of
roses. You must expect buyers to raise questions,
doubts and objections. It is part and parcel of the
decision making process. No need to get angry at funny
or sarcastic remarks from buyers. When prospective
buyers raise concerns, it is an indication that they
are INTERESTED in your house in the
hope of reducing your calling price. If not, most
buyers would rather save their breath. Don’t
you think so?
The
best way to remove a concern is to prevent it. To
do so, you need to apply the 3 P’s
strategy. You need to pre-empt a buyer’s potential
concerns prior to meeting him or her. You need to
prepare the appropriate responses and if necessary,
respond to them proactively.
Stage
5 Position
How
to make the buyers believe (logic) and feel (emotion)
that your house is the best choice for them? You
will do well to remember the words of Sun Tze, the
famous military strategist, ‘Know your enemy…’
Why? Because prospective buyers will visit other properties
and make comparisons before deciding to buy a house.
It
is therefore important for you to visit and study
other show-flats and properties, especially those
that are in your neighborhood, so to ensure that your
house is well positioned to achieve success.
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