Why Buyers Aren't Buying

The Top 5 Objections to Buying Today

I feel like giving a sales lesson today.  Down-n-Dirty, Nuts-n-Bolts sales training dealing with "Why Buyers Aren't Buying".  I used to be a sales trainer for the legendary Sunny Kobe Cook - the Pacific Northwest "Mattress Queen" for many years.  My job as trainer was to teach every new salesperson how to move mountains of steel coils and foam padding - and do it better than any other company out there - which we did - by a LOT!

One area I would concentrate on with the new hires was "The Top 5 Objections to Buying Today".  Since roughly 90% of our mattress sales were made the very first time the customer came in, it was important that the salespeople understood that if the potential customer left the store to "think about it", the chances were very, very small that they would ever come back to purchase later.  ("The Be-Back Bus doesn't have a stop out front!")  So we categorized the 5 main reasons customers don't buy today and tried to make sure all 5 of these objections were overcome during that first visit.

If you're trying to sell a home, you can use this list to make sure your potential buyers' objections are being dealt with effectively.  (And if you're not selling a home, I'll teach you some of the secrets salespeople use against you every time you try to purchase something.)

#1 Objection - Lack of Perceived Value:  Notice the word "perceived".  What you are selling could very well be worth what you are asking for it - but are you taking "extra" steps to make sure the potential buyers know that?  Are you pointing out ALL the features and benefits of your home?  The neighborhood?  The community & schools?  And using comparable sales and listings to justify the offering price?

#2 - Lack of Perceived Urgency: Is there a reason to buy TODAY?  The old tried-n-true "I've got another offer coming in right away" technique is one way, but can you think of others?  Can you offer some sales incentives with expiration dates?  Give good reasons to act quickly.  Create urgency.  If they leave to "think about it", you've lost.

#3 - Competitor has a Better Deal:  You absolutely MUST know what is happening around you in the market.  Do you know how many sellers (and seller's agents) don't bother to check out the other homes for sale around them?  Frightening.  Go visit them - often.  If your price is higher - have you justified the higher price to your potential buyers (see #1)?  Don't make them figure it out for themselves.

 #4 - Perceived Lack of Funds:  Many buyers (and their agents) don't know about the current lending programs, down payment assistance, or even that it's possible for the seller to pay for the closing costs.  Using creative financing offers in your listings and mentioning zero down programs or rehab programs if applicable - and then directing them to a lender who DOES know about these things "For more info, contact ___________ with your questions", and you'll create buyers out of people who don't think they can buy yet.

#5 - Personal Issues:  They just don't like you, so they don't want to buy from you.  Are you easy to do business with?  Can they get a hold of you?  Are there objectionable objects in the home that would turn people off (Bambi's head over the fireplace?  Not a good idea.  My wife and I looked at a perfectly nice home when we were searching and didn't buy it because the master bedroom was set up as a "Lava-Lamped, Disco-Balled, Mirrored-Ceiling, Remote-Controlled-Everything Love Shack".  Euwww...Gross!).

So, selling a home is as easy as making sure the offering is worth what you're asking, giving strong reasons to act now, presenting the home as being better than the competition, solving the money issues, and giving buyers a feel-good experience.  Sunny Kobe Cook paid me a lot of money to teach that to her sales staff - and you got it for free!  Go sell something!

(photo by carrinated)