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

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?

Hi Thomas...

I'm assuming you sell homes.

When people come into your office and haven't spoken with a lender, aren't sure of where they want to live, but do want to look at houses, treat them as though they have cash in their pocket and want to give it to you.

These people are your future customers, but you must make sure they will come to you when they are 'ready' to buy.

They are looking for a professional to guide them. They are looking for a professional to take a 'personal' interest in them. They are lost at this point, but they are interested in purchasing the most important thing they will ever buy in their lifetime...a home. You need to make yourself their 'lifeline.' You need to let them know they can trust you. You need to let them know you are the 'expert' they can count on.

This is the time you 'plant seeds' Thomas. You 'cultivate' these people like you would your garden. They may not buy for 6 months or a year, but if you show them you are honestly interested in helping them with every bit of knowledge you have, you ask them many questions about their lifestyle, and work to become a 'friend' who wants the best for them, you will be the only person they come to when they are 'ready.' I guarantee it.

When you 'plant enough seeds' there will come a time when you will suddenly wonder where all these buyers are coming from Thomas. Plant seeds with every potential buyer you speak with, whether they are ready to buy now or not. This is how you 'build' your business and 'explode' your income down the line.

It's not about you Thomas. It's not about the commission you will make. It's about forgetting your own EGO and taking a genuine interest in helping these people find the perfect home for their needs and desires. By treating these people like they were a family member or best friend they will 'sense' this and will trust you to help them.

If you spend the time necessary to show them homes you will increase their 'seriousness' about buying. They more cool homes they see the more they will want one of their own. Build value with these people. Give them all your skills and knowledge about the benefits of buying a home. Don't focus on the features of the homes, focus on the personal benefits that these features will bring into their lives.

For example, if the home has a beautiful deck don't emphasize how nice the deck looks and how well it was constructed. Paint a picture in their mind of how great it will be to entertain their family and friends on this deck with a barbecue on a beautiful day. Use this technique with all the features of the home.

If your office doesn't include financing you should contact a few lenders, meet with them, see if you can partner with these mortgage brokers, and make a 'business arrangement' with these people. You will refer your leads to them if they refer leads back to you. You work to build each others business. You form 'partnerships.' You become a 'full-service' realtor and guide your customer through the entire home buying process with your partners. You can also 'partner' with appraisers and home inspectors also.

I could go on and on, but to give you a quick idea of how to treat 'future' buyers, and build your 'future' business, I hope this short answer helps you. If you have more questions, bring them. I'm here to help you...Coach Doug

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.

That time wasn't wasted if you gave everything you had to those people who didn't buy. And if you did this, they will never forget you. And even if they never buy from you, they will recommend their family and friends and co-workers who need a house to come see you if you gave them your all.

Thomas, what makes the most sense to you, personally? Do you think your initial training was all it takes to be successful in commission sales for the rest of your life? ...That won't happen.

Let's talk about your training first...

As a professional commission salesperson your training should never, ever stop. You must always continue to seek out many different avenues of sales and marketing training for the rest of your sales life. If you aren't continually learning new information you will never reach the top level of sales people in your field. And it's all up to you to make the decision to do this. You have to have the desire to excel and do this on your own. Most people don't. But if you do, you will surpass everyone in your company.

I sold real estate as a young man many years ago and went thru my brokers training program. They had me watch videos and read training manuals that were developed by the national headquarters of this company I joined. That was the extent of my training. I was given a desk, a phone extention, and left alone to 'get listings and sales.'

None of that "training' sunk in and meant 'squat' to me. I got no listings and no sales.

I left that company and went to work with a friend in real estate. She showed me what was really involved in the 'real world' of real estate and mentored me. I followed her during her day for several weeks. This was the most valuable training anyone could ever ask for. I watched how a professional earns a living selling real estate. No videos or manuals could even come close to the power of this type of training.

My advice to you is find a highly successful agent who is selling several million dollars per year. Try to get to know them and begin to ask them questions. Let them know you are seeking help. Offer to take them to lunch to talk about THEIR success and how they do it.

Successful people have a tendency to help others when they see a person is truly dedicated and serious about learning what they have spent years learning. You may think they are unapproachable, but you're dead wrong. All the successful people I have encountered over the years understand this principle...the more people you help above you, and expecially below you, the more successful you will be.

Find a mentor or coach Thomas. Seek out the most successful in your company. Aggressively pursue their help on a personal basis. Offer to help them with anything they need. Successful realtors earn $250,000-$1,000,000+ per year and they always need some kind of help...be the one who fills this need.

Once you begin to work with a professional, a mentor or coach, your career will never be the same...and more importantly, YOU'RE mindset and your earnings will never be the same.

This may seem counter-intuitive and will possibly garner some disagreement, but I have found great success with people who don't yet have a clue what they need.

I work with large companies as opposed to consumers, but when I have a chance to help create thier vision, educate them and become a valuable resource straight away, my closing percentage increases greatly and sales cycle is cut in half.

When the buyer already has all the information they need, you become a commodity. Outside of knowing they are "able" to buy, I'd much prefer a blank canvas to work with. It also allows me to set the bar by which others are measured.

Not sure if this helps,

Justyn

Hi Justyn:

I don't disagree with you at all. Your approach is additional valuable information for salespeople who encounter the type of customers you work with.

When you meet a customer who knows absolutely nothing about your product/service and you have a 'blank canvas' you have the opportunity to 'paint a picture' with your sales talents.

I particularly like your comment on 'creating the customer's vision' and 'educating them.' That is a valuable talent all salespeople should learn.

Good insights...Good awareness of your own skills...

Thanks Doug. I think it's the turning point in a sales career when you gain the expertise to truly help create vision and educate. I know it was for me. Become a master in your field and you will become invaluable to your clients.

Quote:

Originally Posted by Justyn

Thanks Doug. I think it's the turning point in a sales career when you gain the expertise to truly help create vision and educate. I know it was for me. Become a master in your field and you will become invaluable to your clients.

How does a salesperson help create the customer's vision?

Quote:

Originally Posted by Thomas

How does a salesperson help create the customer's vision?

Many interpretations I'm sure. For me, a prospect might share thier ideas for how to achieve X. I can leverage experience and creativity to help them discover new/other ways to achieve X. Or achieve things they hadn't considered. Or to approach the problem in a way they hadn't thought of. My ultimate goal is to create a dependance on my thought-leadership and help the client discover new ways to excel. "Help them see the light, and they will follow you to it." - I don't know if that's a real quote, but I'm sure it's been said before

Quote:

Originally Posted by Justyn

Many interpretations I'm sure. For me, a prospect might share thier ideas for how to achieve X. I can leverage experience and creativity to help them discover new/other ways to achieve X. Or achieve things they hadn't considered. Or to approach the problem in a way they hadn't thought of. My ultimate goal is to create a dependance on my thought-leadership and help the client discover new ways to excel. "Help them see the light, and they will follow you to it." - I don't know if that's a real quote, but I'm sure it's been said before

If I'm buying a car or a home for example how would this work?

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

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