Periodic tips and reminders to help focus your
by-owner marketing and win your commission-free sale -
from Canada’s by-owner web-site, www.privatelist.com.
THIS ISSUE: Cash-Back Incentives / Follow-Up!
ARCHIVES: www.privatelist.com/newsletter.htm
CASH-BACK INCENTIVES
Consider a young couple out looking for their first house. Good jobs and
no problem qualifying for a mortgage, but they just finished paying off
their student loans and have very little cash to cover
down-payment, legal fees, closing costs and moving expenses - not to mention
the odd appliance, repair or upgrade that will be required soon after they
move in (see www.privatelist.com/buy_back.htm).
Why not give them a hand? In your advertising and on your internet
display, shout it loud and clear:
"Vendors will contribute $X,000 towards purchasers' closing costs."
Your purchasers know that your generosity means a higher purchase
price and mortgage, but they don't mind:
they qualify for that mortgage (and your house is more likely to
as well, since its bank appraisal will be based on other selling prices
involving realtor commissions.)
What they need is cash and if, of the two properties they have
an eye on, yours comes with a cash-back incentive and the other doesn't,
guess which one (other things being equal) they'll favor?
FOLLOW-UP!
You've cleaned the place up (see www.privatelist.com/tips/tip1.htm)
and shown it, and the prospects really seemed to like it. (That was three
sleepless nights ago.) So why don't they CALL?
Here are a few tips on what to do after the showing:
- don't wait: if possible, contact prospects
within 24 hours of their visit;
- be clear about WHY you're calling: without
being at all pushy, you want to determine where
things stand;
- be polite and straight-forward: thank them for
their visit, then simply ask whether they
remain interested in the property;
- then deal with their response:
- If the answer is NO, tell them you appreciate
their candor and accept their decision. But
you'd very much appreciate any feedback
they're willing to share - for example
on your home's condition, on its most- or least-appealing
features, or on the competition in the area.
Then ask for the name of anyone they know who
might be interested in purchasing a property like
yours, or ask that they mention the home - and its display on
www.privatelist.com - to any such acquaintances.
The point is, you don't know where your buyer
is going to come from. Courtesy
shown prospects who WON'T buy your house
may conceivably lead to one who WILL!
- If the answer is MAYBE, tell them you're
eager to address any questions or reservations
they may have about the property.
Re-phrase
any objections and feed them back until you're
sure you understand the point. Then either
address the concern on the phone, offer to
talk again after you've had time to consider
their comments (set up a definite time), or refer
them to possible sources of help (including
www.privatelist.com/buyers.htm!).
Your focus should be on determining whether their
objections are bogus (just a way to say
NO) or genuine (and quite possibly pointers to a sale!).
- If their response is YES, ask if they feel ready
to present an offer.
If there is any hesitation,
would they prefer to view the property again? And are
there any specific issues they need to clear up?
In either case, make an appointment:
"Would Saturday or Sunday be more convenient
for you?"
- DO NOT negotiate verbally! If the issue of price comes up,
simply reply
"We'll
look very carefully at any written offer - would Monday be . . . ?"
What if the prospects won't give you a straight answer?
Just ask if 2 or 3
days would give them a chance to talk things over,
maybe note down their thoughts, and you'll call
them back next Tuesday . . . . Then, if they
remain totally non-committal, invite
them to call if they have any questions, say
good-bye, and don't hold
your breath!
- Take the pressure off! Be patient. Remember that,
no matter what their responses, at this point
all prospects are your ALLIES: at best,
your call will help you move closer to a sale; at
worst, you'll eliminate the stress of uncertainty -
and perhaps gain some market insight
that will, again, move you closer to a sale.
- Finally, realize that every "No" will bring you closer to a "Yes"
- IF you're willing to set yourself some deadlines and adjust your
campaign when necessary. For tips on that, visit our page at www.privatelist.com/tips/tip13.htm.
FRIENDLY REMINDERS . . .
It's important to maintain an active marketing focus until your
property is sold. Just an hour every week-end, spent reviewing progress to
date and mapping out a response, can pay real dividends.
Therefore, each e-mail version of PrivateList PROACTIVE ends with a
series of reminders, and links to tips and tools for your on-going campaign.
To access these resources, press here.
©1999 PrivateList
