Ever wonder why people will buy new homes? Is it the location? Is it the floor plan? Or is it an unhappiness in their current home? Is it a combination of different reasons? It's important to understand our buyers' motivations when they inquire about your model or new home for sale. As I was preparing for a recent sales meeting, I found notes from different seminars and books I've read from new home gurus like Myers Barnes, Bob Schultz, and Dave Stone. Here are some of the underlying reasons why people decide to purchase a new home...
Facts and Features deal with logic, which relates to the head, but benefits deal with emotions relating to the heart. Need to help them “feel right” about our community rather than thinking about it some more.
Most salespeople are better at educating than motivating – need to better understand human nature, and what motivates people to make large purchases.
1. It’s the right price. Are they really shopping price? They may think they are, but they actually buy based upon what their perception of value is. Cost will not be the final factor in deciding what neighborhood & home they choose.
2. It’s what we need. We always seem to want more than we need. Because our wants and desires are emotional, whereas our NEEDS are logical. Shoppers buy a feeling, a perception of satisfaction that our community lifestyle promises.
People decide to buy a new home to improve their lives! What does this imply? That something is wrong with their lives…everyone has a current dissatisfaction.
A person’s desire to improve their life has more influence over their buying decision than any other factor.
Buyers give us their specifications, and they buy their motivations...
Factors in getting people to move
Current Dissatisfaction -there is a pent up demand and there’s a stronger urgency to purchase today! Salespeople need to realize and understand the dissatisfaction curve.
Future Promise -engage them, get them involved emotionally, get them to see the future promise
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Cost and Fear -holds people back.
PEOPLE WILL BUY WHEN…
Current Dissatisfaction X Future Promise > Cost/Fear
The majority of salespeople start with the Cost/Fear and work backwards. If there is a zero on either of the left side variables, what does that do to the rest of the equation?
If the Current Dissatisfaction is very, very high, the Future Promise can be lower, and vice-versa . We used to call it "breeding discontent" in their current situation.
A surprising Future Promise can create a Current Dissatisfaction. Maximize the Dissatisfaction & Future Promise, you’ll have little work to do on the Cost/Fear.
With any given buyer, you must be able to identify the most important variable in order to get them to move forward.
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