Follansbee Steel Operating and in Talks with Potential Buyers
Census Bureau Releases December Construction Spending Numbers
Mattamy Homes US Posts Near-Record Sales

:: Thu, Feb 2 - 2012
Best Practices for Building a Builder Brand
Tim Kane's picture
Tim Kane

In the real estate industry, a builder’s brand hasn’t always been considered important; while today there are large regional and national builders, many companies are smaller local operations, still home-grown businesses that are sometimes family-owned and operated. Both types of builder can still benefit from attention to their brand.

Builder branding and the fundamental qualities that create a positive brand are important because they demonstrate a focus on the fundamentals that can help a builder stand out in an active marketplace.

First impressions are everything.A prospect visits a builder website or sees the community signage. They enter the sales center, they read literature on the company and the community, they meet a sales representative. That’s where their brand impression starts. From that point on, a concentration on what the brand does best for the customer—not for the bottom line—is what will ring true and create positive associations that not only influence the buying decision, but will result in valuable repeat business and referrals.

A positive attitude can work wonders.Has the builder created a work environment that values personal initiative along with corporate loyalty? Does the on-site team (sales, construction and customer care) feel properly treated, respected, and compensated? These may seem like obvious questions, but they are exactly the type of fundamentals that are the foundation on which a builder’s brand is established. If employees feel like an integral part of the process of building and selling homes, they will communicate that enthusiasm to buyers.

Value stands out.More than anything else, what buyers appreciate from their builder is good value for their money, and a perception of value is a powerful attribute to attach to a brand. Flooring is one specific feature where working hard with the contractor to find just the right mix of options at a competitive price is a major selling point. MBK executives worked hard with flooring partners to set prices that beat what a homeowner would pay for a comparable product from a big box retailer, enabling buyers to purchase a higher grade of flooring than they would have expected. That’s a solid, tangible value that a builder can provide to customers to improve customer ratings and enhance the brand image.

 

Try for the personal touch.Throughout the construction process, buyers should experience their builder not as just a company name on a contract, but as a group of dedicated people supporting an exceptional brand. MBK has been able to improve its customer satisfaction and reputation by assembling a community team for each development that brings together key personnel—a representative from sales, customer care, the lender, flooring designer, escrow, and the project’s superintendent. Buyers have the opportunity to meet this team before the building process begins, which puts actual faces and personalities to the builder’s brand and enables a level of one-on-one customer service that’s rare in the real estate industry.

In home building, the only way to expect a referral or repeat business is to consistently do the right thing for customers. That is also the only way to ensure a positive, lasting impression for a builder’s brand. In that sense, best practices drive best results.

Business, Front Page - Blogger Network, Marketing

:: Wed, Feb 1 - 2012
Affordable Housing in the Down Economy: Expanding and Becoming Green
Mike Silvey's picture
Mike Silvey

Affordable housing and sustainable (“green”) development are compatible concepts. Many nonprofits and governmental housing authorities are incorporating sustainability values into their organizations’ principles and operating objectives.

The U.S. Green Building Council (“USGBC”), which developed the Leadership in Energy and Environmental Design (“LEED”) standards, has been actively encouraging affordable and sustainable housing through a neighborhood grant program called LEED for Neighborhood Development (“LEED-ND”).  The program started in 2010 with a grant provided by Bank of America.  In November 2010, the first 10 grantees of the Affordable Green Neighborhoods Program each received $25,000 plus educational resources so that their projects could seek LEED-ND certification.

One of the award recipients is the City and County of San Francisco’s Sunnydale revitalization initiative, which is transforming a 50-acre project originally constructed in 1941 into a healthy, mixed-income development. The project incorporates sustainability priorities, such as accessible neighborhood parks and amenities, as well as more efficient energy saving homes.  The other nine grantees were spread all over the country, from Philadelphia to Los Angeles and various places in between, including St. Louis, Mo., Lakewood, Colo., and Dallas, Texas. 

There are many nonprofit building organizations that are pursuing sustainably on their own. This past October, the USGBC awarded Clackamas Community Land Trust’s (“CCLT”) Juneberry Lane Project with its national award for Outstanding Affordable Housing Project. Juneberry Lane is a LEED-Platinum certified development of 12 duplex-style townhomes on .73 acres in Oregon City, Ore. CCLT is a land trust that owns the land under the homes and offers a 99-year ground lease to the homeowners for a nominal amount, which takes out the cost of the land making these homes affordable.

CCLT’s design team selected high efficiency gas-fired on-demand water heaters coupled with a hydronic air handler to provide heat, which consumes no energy until requested.  All materials used in the project were as sustainable as possible, including hard surface floors made of bamboo.  Juneberry Lane townhomes also include a dedicated common area with community garden beds and a free-standing rainwater harvester.  The 12 townhomes range from 728 to 1,408 square feet, and the cost of construction was kept to just below $70 a square foot. Having been completed in the fall of 2010, half of the homes remain unsold, but there are signs of greater interest as we head into 2012. 

Although the great recession has negatively affected the residential housing market, it has provided some opportunities for non-profit entities such as Habitat for Humanity (“Habitat”), which has been able to purchase fully developed lots at bargain prices (when compared to fully developed lot prices in 2007).  Organizations like Habitat are now land banking.  Habitat, unlike land trusts, does not retain any interest in the land but they sell the homes and land at reduced prices through a combination of grants and sweat equity.  The homes are affordable, but only once.  The Habitat model requires a continuous supply of new homes, since upon resale, the home is sold at market value to the next buyer. 

Another way in which housing nonprofits are expanding during the recession is as a result of the National Stabilization Programs 1 and 2 (“NSP”).  Under both of these programs money was allocated to the states, which in turn allocated funds to various authorities.  Part of monies allocated to Oregon’s Clackamas County has allowed CCLT to purchase relatively new single-family homes from foreclosing banks at 10 percent under the appraisal value, which allows for a portion of the funds to be used for energy efficiency upgrades and acquiring the land using the land trust model discussed above.  There is an NSP-3 program, which provides down payment, closing costs and minor rehabilitation financial assistance to homeowners with household incomes below 120 percent of the area median income.  By contrast, CCLT requires incomes to be 80 percent or below the area median income so that families of modest means can acquire a single-family home. 

Affordable housing is needed more than ever in the United States.  While abandoned homes are being demolished in communities to prevent the further blight of neighborhoods, there are some bright spots created by the NSP and the USGBC programs to build affordable and more sustainable homes.  Hopefully, both the NSP and USGBC programs will be continued in the future for the benefit of residential neighborhoods around the country.

Business, Front Page - Blogger Network, Green, Housing Data, Real Estate

:: Tue, Jan 31 - 2012
Social Media – a Marketing Tool to be Taken Seriously
Marsha Friedman's picture
Marsha Friedman
Book cover: Celebritize Yourself

Expert Shares Tips to Gauge Whether Your Business is Taking the Wrong Approach

I remember when the Internet first gained prominence and it became apparent that having a website was essential for any commercial enterprise. Back then, web designers were not plentiful and few people thought to hire a professional to create a site. They felt that ANY web presence was better than none at all and they found people they knew who were “into the whole Internet thing”to help them.

As a PR professional, when I saw a website that didn’t represent people well or looked amateurish, I’d ask who created it. Invariably, I’d get answers like, “My nephew did it,” or “I bought Web Design for Dummies and did it myself,” or “My son has a friend who just graduated with a degree in computer science.”  While those days have passed for Web sites, I’m afraid I am seeing the same thing happen with regard to social media.

As social media has become an integral element of all mainstream media,some people regard it the same way they used to regard websites – as a good addition to their marketing tactics, but not so essential that they need to approach it with a professional sensibility. As with any marketing outreach, social media done badly will actually set a person back rather than move him forward.

Here are some tips for people to gauge whether they’re taking the right approach or heading down the wrong path:

• My Daughter Does That For Me – If your daughter is a college graduate with a broad-based education that includes a degree in mass communications, I’d say you may be on the right track. However, if she’s 18 and her primary qualification is that she has Twitter and Facebook accounts, I’d say you need to reevaluate your choice of marketing personnel here. Just because she’s your daughter and can use Facebook and Twitter, doesn’t mean she has the skills necessary to market a business using social media.

• I Hired a College Intern – While college students may be part of the social media generation, it doesn’t automatically qualify them to do social media for you. Unlike traditional media, which is a communication to a broad audience, social media is one-to-one marketing outreach. You are communicating directly to individuals and anyone who has ever posted an opinion in an Internet forum knows the online audience is not to be trifled with. Understand that your reputation is on the line. With the variety of questions and comments you will receive, it is critical that they’re handled with care and professionalism to avoid any repercussions to your name and brand. A social media marketing professional is an astute communicator who ensures each time the right tone, caring and message is delivered for maximum return and keeps your audience engaged. This dynamic is crucial for the success of the program.

• I Got 11 New Followers on Twitter This Week – Of course, building followers is important, but you’ll never make a social media campaign work with the onesy-twosy approach.For myself, my company and our social media clients, we have a monthly benchmark for building followers. Now, this benchmark is not a gross number, but a net figure after we have weeded out spammers, chronic friend adders, and marriage proposals from men in foreign countries, and yes, I’ve gotten a few of those.

At the end of the day, social media is serious business.  Done right, it can create a base of thousands of followers.  Done wrong, it wastes time and energy and, most important, gives people the impression that social media marketing isn’t important. In fact, it has become one of the most critical and fundamental components for any marketing strategy, which every company needs to put in place.

Business, Education, Front Page - Blogger Network, Marketing, Technology

:: Mon, Jan 30 - 2012
Should Business and Personal Be Separate on Facebook?
Carol Ruiz's picture
Carol Ruiz

It’s a story so familiar that the general theme has passed into urban legend, even if the specifics change. A business professional finds him/herself fired as a result of trashing a boss on Facebook, or posting from the ski slopes while allegedly “on sick leave.”

That such stories exist speaks to the ways in which social media has woven itself into the fabric of every aspect of our lives. We set up Facebook pages to keep up with friends and family; we start to connect our work relationships with our personal connections; we attempt to market through the site using a tool that’s been essentially a personal hangout. It can be difficult to pry apart the business and the personal when it feels so natural to combine the two, whatever the risks may be.

Rather than extreme separation of the business and the personal on social media, it may be most valuable to first consider whether the two need to be separate at all to successfully achieve your business goals. Social media is something we all experience personally; it’s become expected that even the most active Facebook marketers will occasionally slip into personal details from time to time. That’s part of the draw; what’s the point of being able to forge these instant and powerful relationships if there’s no real connection?

For most of us, it may actually be an advantage to mix the business and personal on Facebook. The homebuilding industry straddles the business and personal aspects of most lives; a new home represents perhaps the biggest purchase we will ever make, and yet it will ultimately be the place where we feel most relaxed and at ease. Taking a similar approach to interacting through social media as a homebuilder shows that you understand both aspects of the business you conduct.

An effective way to create a separation between the business and personal on Facebook involves creating a Facebook page or group to represent your company. As a builder, you can maintain the page with the latest news on projects, interesting articles from local media, or exciting new floor plans and virtual renderings. You can utilize your personal account to manage the group without connecting the personal too closely with the business side of your social media presence.

There may be some cases where keeping business and personal separate on Facebook is a necessity. For example, if you are a customer-facing employee of a homebuilder, a separate business account on the site will enable you to safely interact directly with customers, while keeping your personal interests separate. That removes the pressure to share your personal life directly with homebuyers while empowering you to interact comfortably with them through the site.

It’s not an easy question to answer, but it is one that most of us will face sooner or later. Above all, what’s important about using Facebook for communication, customer service, and marketing is sincerity. Whether that occurs through a personal page or a separate business account is just the mechanics toward the ultimate goal.

Business, Front Page - Blogger Network, Technology

:: Mon, Jan 30 - 2012
Student Housing; Do Students Have a Choice?
Jessica Musick's picture
Jessica Musick

As design professionals, we love nothing more than to both appreciate and critique the work of our peers. Success and failures of built projects are valuable design tools revealing the results for design and programmatic assumptions. These are just some of the reasons I jumped at the opportunity to tour the new University of Southern California (USC) adjacent student housing project, West 27th Place and its neighbor, University Gateway. Invited by one of our firm’s clients, I was eager to form my own opinions about Los Angeles’ latest off-campus student housing communities. 

Located a half a mile from USC’s campus, West 27th Place opened its doors to students in August 2011.  Not even six months old, students seem both satisfied and enthusiastic about the 161-unit (410 beds) apartment community. Similar to University Gateway, USC’s solution to student housing demands in 2010, West 27th Place is a mixed-use housing community and includes 22,000 square feet of retail space as well as a wide range of amenities. However, there are two main design decisions that set West 27th Place apart from its competition; its upscale amenities and boutique size.

Less than half the size of University Gateway, West 27th Place has quickly impressed students. The apartment community consists of a combination of studios, one-, two- and four-bedroom units renting rooms to both single and double occupants. On average, a one-bedroom unit rents for $2,500 per month, roughly $400 dollars more than a similar unit in University Gateway. The price increase is justified by several factors. Residents boast about their community’s swimming pool, spa and state-of-the-art fitness center. Club and billiards rooms over look the interior pool courtyard and feel exclusive to the residents who live there. The plush amenities carry into the individual units as well. Granite countertops and individual washer and dryers put the apartments ahead of its competitors. Talking with a few students, we were surprised to hear that it was design considerations like natural light that appealed to residents. Though there is a continuing struggle between supply and demand for student housing around USC, our tour proved that students still have preferences and, along with their parents, they are willing to pay for them.

Unlike the positive reviews that West 27 Place has received over the past few months, a 2010  article published in the “The Daily Trojan,” describes the disappointment by student residents shortly after the opening of University Gateway. Though the project offers its own spin on amenity spaces and is much more convenient to the campus, residents still had negative feedback. Students described unfinished living conditions, poor lighting, limited parking, and poor management response. During our tour, we found the biggest difference between the projects was the size.  University Gateway is an eight-story building with triple the number of units and beds. This design factor may be the largest cause for the poor reviews. With 1,650 beds available, it is simply unrealistic to assume every student was going to be ecstatic about heir housing decision. Housing options continue to be limited around USC’s campus. Students saw University Gateway as a solution to their housing needs. Most students signed leases without seeing a finished unit.

What West 27th Place and future off campus housing developments do for students is offer them choices.  Some choices will come with a bigger price tag, but they at least will allow students to prioritize their preferences. Not every student is the same and on a campus with over 17,000 undergraduates and nearly 19,000 graduate and professional students, this is also a good lesson for developers to think variety. West 27th place is an excellent example where by focusing on a few design preferences, the project is actually strengthened and distinguished from its competition.

Architecture, Front Page - Blogger Network, Marketing, Multifamily

:: Thu, Jan 19 - 2012
Overcoming Sales Reluctance (an introduction to our 12-part series)
Jason Forrest's picture
Jason Forrest

One of the most important abilities for achieving a successful career in new home sales is the ability to overcome sales reluctances. In order to overcome our fears though, we must be able to first identify them.

And so begins our series on 12 of the most common types of sales reluctances and how new home sales professionals can identify and overcome them. This series will provide valuable insight (for sales pros and sales coaches alike) into the kinds of fears and sales reluctances that hinder their sales teams.

We will talk about doomsayers, over-preparers, and hyper-professionals; as well as those who are limited by stage fright, yielding tendencies, role-rejection, social self-consciousness, referral aversion, telephobia, and oppositional reflexes.

At first glance, can you relate to any of the above? If so, great! Sales reluctances are not character flaws—they are not even weaknesses. They are simply tendencies. And on the flipside of a sales reluctance is often a commendable virtue. For example, an admirable strength (such as compassion) can have a corresponding vulnerability—the tendency to let people take advantage of us. 

In such a case, we can overcome the vulnerability (by learning to recognize when someone is trying to manipulate us) but not lose the compassion. This makes us more able to fulfill our true potential. One of the keys to gaining the most from this series is to objectively read the descriptions and see how they match up to your beliefs and behaviors (or those of your team members).

With all that in mind, read and consider each post while asking yourself the following question: How can I overcome this tendency in order to earn more money this month?

Business, Front Page - Blogger Network, Marketing

:: Wed, Dec 28 - 2011
The Pre-Season Sales Event
Jeff Shore's picture
Jeff Shore

While everyone seems to be focused on the Christmas season, there is another season lurking just around the corner: the “Selling Season.” Builders would do well to consider how to leverage the forthcoming surge in sales into a campaign that fits in the slower winter months. 

It has been dubbed the “Selling Season,” but this is actually a misnomer. It is not so much a selling season as it is a buying season.It is a matter of historical record; from late January through May, in good markets and bad, there is always a surge in buying activity. This phenomenon has occurred every year for decades, and it will surely happen again in just a few short weeks.

Many builders take a hunker-down approach as they wait for the spring thaw to bring in new sales. But what if there were a strategy that could be employed in December and January that would move some of those prospects to purchase before the selling season begins?

The answer comes in the form of a sales and marketing approach that could be called the “Pre-Season Selling Event.” It is an educational campaign designed to create urgency to purchase just before the masses do.

Step One: Educate

The campaign begins by educating — through marketing efforts and through sales strategy — on the fact that the “buying season” is a very real occurrence, and that it is near. Builders can prepare charts that show the surge occurring every year like clockwork. It is critical that customers believe that an increased sales pace is imminent.

stablished homebuilders can create graphs that show the month-by-month sales pace going back for years or even decades. Because the buying season covers all homes sold, a builder could also show resale activity going back over the years.

Step Two: Sweeten the Pot

Many builders already dig a little deeper into their pockets in the winter months when traffic is down and prospects are few. Step two is to simply repackage those offerings as a “Winter Sale;” something that expires soon.

The other way to sweeten the pot is to release a few prime locations if possible. Let the prospects know that the homes are being released now in anticipation of the coming surge, and that a purchase decision today assures the customer of the best location choices.

Step Three: Challenge

In the sale presentation, simply ask the customer for their opinion. “Is it better to purchase just before the sales surge or to wait until everyone else is purchasing?” The answer, of course, is obvious. Sales professionals should be well versed in explaining the benefits of a December decision:

·                     Best location of homesites and showcase homes

·                     Best values and prices (prices go up when everyone buys)

·                     All-time low interest rates

This pre-season sales approach allows the customer a sense of security that they are doing a very smart thing; that they are the future geniuses who had the foresight to purchase before everyone else did.

Analogous to this approach is the concept of purchasing stock. It should be common sense the best time to purchase stock is just before the price goes up. But how could we ever know that information? Since stock prices are pure commodities whose prices are driven by supply and demand, we can surmise that when more people buy the price goes up. This is precisely what we are saying about the home buying opportunity in the winter months. A surge of sales will soon take place; purchase before that happens for the best opportunities.

Plan for Higher Conversion Rates

With the buying season upon us, everyone in the organization needs to understand that while traffic levels might be down in December and January, conversion rates should skyrocket during this season. It is true that fewer visitors will call on sales offices in the winter months, but those who do are more motivated than ever.

Sales professionals must never underestimate the quality of winter traffic. In a time of year when people are distracted with the hustle and bustle of the holidays, those who visit a sales office are proving that they have a serious housing need. It is not as if these people have nothing better to do than visit a new home community. They are there because of a significant need.

Jeff Shore (jeffshore.com) is a contemporary expert in sales management, and one of the most sought-after trainers in the country today. He provides training and consulting expertise to companies large and small across North America. Jeff is the author of three books, including Deal With It! Mastering 21 Tough Sales Challenges.

Business, Front Page - Blogger Network, Marketing

:: Wed, Dec 28 - 2011
New Market Shift...Multigenerational Housing
David Barisic's picture
David Barisic

In my last blog entry, I discussed a shift towards more precise planning when it comes to both the design of new housing and the subsequent marketing of it.  In this entry, I want to touch more specifically on a particular trend that is beginning to make headlines - multigenerational housing.

To most people who grew up in the American suburbs, the path to domestic independence was pretty clear: graduate high school, move out, don't look back. The thought of living even semi-permanently with relatives, whether it’s with parents, aunts & uncles, cousins, etc., was not really an option. There is research that has suggested, however, that this way of thinking may be short-lived for a couple of reasons that builders and developers will need to pay close attention to.

First, we all were taught growing up that America is a "melting-pot" of many different ethnicities and cultures.  This seems true even more today as the immigrant populations from around the world tend to be growing and concentrating around American job centers.  This poses both an opportunity and a challenge to home-builders today.  The opportunity is fairly obvious: our buyer pool is expanding.  The challenge is that the buyer pool is altering what we think we know about what buyers want.  For example, many immigrant cultures (who will constitute the bulk of our buyers) don't have the same stigma attached to living with extended family; it is simply a way of life.  Therefore, our product needs to adjust accordingly to include larger, more flexible living spaces, accessible bedrooms for the elderly, and the addition of more communal rather than private facilities (e.g. bathrooms, offices, etc.).

Second, the struggling economy and its associated pay cuts and higher unemployment rate have made living with relatives a financial necessity, albeit an unappealing one for some of us.  For people finding themselves in this position, we will see a trend toward new housing that may have features like an "apartment" with a separate entrance or even units with two distinct and separate living spaces, but that share a kitchen and utilities.

Regardless of the reasons behind this current shift towards multigenerational housing, it is becoming more apparent that our traditional idea of homeownership may be shifting.  We will need to be able to shift accordingly.

Business, Front Page - Blogger Network, Finance, Home, Marketing, Multifamily, Remodeling

:: Thu, Dec 15 - 2011
Construction Technology
Chris Evans's picture
Chris Evans
OtterBox

Construction professionals incorporate many tools in their trade. Tools that can help them close out projects in a professional, cost effective manner.  

In today’s economy, using current technology is one of the most efficient tools that contractors can use. It changes how construction business is conducted by offering consumer friendly services like automated payments and cloud solutions. Constructech Magazine is a publication dedicated to resourcing the latest, most current software available to contractors while helping them make educated decisions.

Every year, Constructech Magazine publishes the Constructech 50, a listing of the most influential construction technology providers with a strong and ongoing market presence. The list is determined by the editors of Constructech magazine and will be published in their July/August issue.

2011 Constructech 50:
Ameri-CAD Inc. – An ITW Co.
Argos Systems
AT&T
Autodesk Inc.
Bentley Systems Inc.
BID2WIN Software
Bluebeam Software Inc.
BuilderMT
BuilderTREND Solutions Inc.
Cadsoft Corp.
Co-construct.com
ConEst Software Systems
Constellation HomeBuilder Systems
Construction Imaging
Corecon Technologies Inc.
Cram Group, The
Dexter + Chaney
e-Builder
Explorer Software
Hard Dollar Corp.
HCSS
HomeFront Software
Intuit
Jonas Construction
MARK SYSTEMS
Maxwell Systems
MC²
McCormick Systems
Meridian Systems
Microsoft
On Center Software
Oracle
Penta Technologies Inc.
ProEst Estimating
Profitool
Sage Construction and Real Estate
Sales Simplicity Software
Simpad Inc.
Skire Inc.
Sprint
Systemates
TeleNav
Textura Corp.
Trimble Building Construction
UDA Technologies Inc.
Vela Systems
Verizon Wireless
Vico Software
Viewpoint Construction Software
WennSoft

Business, Front Page - Blogger Network, Offsite, Remodeling, Technology

:: Tue, Dec 6 - 2011
The Perfect Storm for High Cancellations (and the Key to Prevention)
Jason Forrest's picture
Jason Forrest

As soon as I drove off the lot in my brand new silver Audi TT with black interior, I saw one with a convertible top and tan interior. And I wondered, “Should I have gotten that one instead? Did I make the right choice?” Why? Because I’m human. And humans are switchers by nature. Sales pros need to understand a few things about human nature in order to prevent cancellations.

First, we need to recognize that the very moment a prospect signs is when their home reaches its all-time peak in the buyer’s perceived value. Unlike other sales situations, new home buyers don’t walk away with product in hand. They sign on the dotted line and then sometimes wait months to physically move in. Their commitment is mostly mental, with only earnest money on the line if they change their minds. To keep customers mentally engaged, continue to talk about where they’re going to put their furniture, who they’ll have over, and the memories they’ll make. As long as they continue to own the home mentally, they’ll be more likely to follow through with the final steps and own the home physically. 

Second, we need to take a good, hard look at ourselves and acknowledge that the moment a prospect signs is the moment their value reaches its peak in our minds. We don’t do it intentionally, but we just don’t look at them with the same sparkle as we did when they first walked through our door. When they are still prospective buyers, we are motivated and greet them with energy and enthusiasm. We do the “be-back” dance (the “They like me! They really, really like me!” dance) every time they show up. And it’s a far cry from the “Oh crap, what do they need this time?” shuffle. These are the ones who have committed to buying our homes, but we appreciate them the least. Yikes.

Whether you think they do or not, your customers sense that you just aren’t as interested in them since they signed. So stop it! Be excited. Remember that these are the folks paying next month’s bills and referring future business. And treat them that way! As long as they feel just as wanted after they’ve contracted, you’ll fend off the buyer’s remorse.  

Take those two factors along with the fact that the customer doesn’t stop shopping and the other salespeople don’t stop selling, and you have the perfect storm for cancellations. It’s a wonder anyone gets to the finish line!

But there is a solution. It’s contrary to our nature and it isn’t easy, but it does work. Joe Girard, called the “World’s Greatest Salesman” by Guinness Book of World Records, says that the true sale begins when the customer buys. Let’s be honest here. Is that how you treat your buyers? Can you honestly say you break out in the “be-back” dance when a buyer under contract walks through your door? This guy made over a million dollars in annual commissions as a car salesman. He didn’t even sell fleets. He just sold well. And he kept selling long after the customer drove off the lot.

To decrease cancellations, increase customer satisfaction, and obtain referrals—never stop selling.

Business, Front Page - Blogger Network, Marketing