Video Mystery Shopping: Mastering the Art of the Close
We often talk about the basic elements that go into new home sales closing techniques: trial closes, creating urgency, and asking for the sale. These are all very important in moving your buyer close to the finish line. However, there are, of course, other things to take into consideration when ‘asking for the close’. These are the things I like to call ‘mastering the close.’ Now, when you get to this level of the close, it isn’t a one size fits all closing statement that you use. This type of close is about knowing your buyer demographic and identifying their primary purchasing motivations.
Last week I was coaching a new home sales associate whom I have had the pleasure of coaching for a few years. He had recently changed communities, and was now selling at a much higher price point than before. We were discussing what the primary challenge was that he had experienced during the transition. He said: “Melinda, without a doubt it has been perfecting my close to be pertinent to the buyers in this community!”
When I asked him to explain why, he shared with me that in his previous community the main obstacle he had to overcome in closing his prospects had been qualifying and financial issues. His close had been primarily focused on working the numbers to show his prospects HOW they could afford to purchase in the community. In many ways this gentleman had to become a financial and number crunching wizard! Most of his buyers were first time homebuyers, so they had never made such a large investment before and were uncertain if they even could.
Fast forward to today, in his new community the average sales price is well over $700,000. The buyers he is dealing with are primarily CASH buyers. So, the financing isn’t the strong closing factor that it once was. He shared with me that the buyers he deals with now are all about the FEATURES of the home. In many ways, he has had to go back to a very traditional type of sales presentation in which he spends a great deal of time on the home demonstration and discussing the available and upgraded features. In addition, the home site is also a very important selling feature in his new community. Buyers are adamant about having a southwestern exposure or a water view.
Now, he is what a call a sales superstar. He was able to identify what the closing hot buttons are and has adapted his presentation around that. He has mastered the close! At the end of the day, it’s all about delivering to your prospects what THEY want. And, until you find out what that is…..you won’t be mastering the art of the close.