What do you do when the prospects aren't ready to buy?

I would classify Cars and Homes commodities, and I don't have any experience in that area.

A few examples I can think of...Letting the clients know about a neighborhood that Starbucks just broke ground in (the sure sign of a developing area considering thier millions in market research). Recommending a creative offer to present the seller based on your knowledge of time-on-market, etc.

For cars, letting the customer know that the cash-back rebate is actually a better deal than the 0% percent financing. Helping them to fully understand the fine-print, whether or not Gap Insurance is necessary, etc.

I'm sure someone in either of these fields could present better examples.

Justyn

Originally Posted by Justyn For cars, letting the customer know that the cash-back rebate is actually a better deal than the 0% percent financing. Helping them to fully understand the fine-print, whether or not Gap Insurance is necessary, etc.

Creating the customer's vision then is like full disclosure?

In that particular example that's the case, only because I don't know what else a car salesman might do to "consult" thier customers. Essentially creating vision can be replaced with "having the customers best interest in mind" in a commodity based sale. Which should be the case in any sale.

As always, just my opinion.

Originally Posted by Justyn Essentially creating vision can be replaced with "having the customers best interest in mind" in a commodity based sale. Which should be the case in any sale. As always, just my opinion.

Having the customer's best interest in mind is good.

Originally Posted by Thomas I've been watching and it looks like a lot of the people who call or visit our office are not ready to buy. They haven't talked with a lender, they don't know where they want to live, they can't describe the home they want, but they do want to see homes. What should I do?

Sharon Drew Morgen's "Buying Facilitation" would help you with this. Your prospects say they don't know where they want to live but that really isn't true and you can test it. Next time someone says they don't know where they want to live ask them if they would live in the ghetto. If they say 'no' then you know they do have criteria but they might need help identifying, clarifying and verbalizing that criteria.

Great post Doug.

Hello Thomas,
Great thread starter,
I personally would continue to follow up the client. I think that other sales staff out there that might be competing against you might feel as though they are a lost client or not worth following up. HOwever if you are the last thing on the clients mind when they go to bed because of the fact that you gave that final phone call as a courtesy to make sure you have covered everything with them and to let them know to contact you if they need anything further then you willbe the first thing on their mind in the morning.

All the best.

Originally Posted by Thomas The training I received said to be successful I needed to invest my time with people who where ready willing and able to buy now. I've spent time before with people who weren't ready to buy and then something changed and all of my time was wasted.

I agree.

Thomas' wording (above) could be a direct quote from our Real Estate Sales Training course. We do not cite logical rationale to support that strategy. We rely on facts rather than theory.

Statistical analyses prove that it works best, most often, for a large number of highly successful Realtors.

Originally Posted by JacquesWerth I agree. Thomas' wording (above) could be a direct quote from our Real Estate Sales Training course. We do not cite logical rationale to support that strategy. We rely on facts rather than theory. Statistical analyses prove that it works best, most often, for a large number of highly successful Realtors.

What should I do with these prospects?

Originally Posted by Thomas What should I do with these prospects?

Turn low probability prospects over to another agent in return for a split of the commission - in the unlikely event that they buy.