Selling the Intangibles

Selling Properties

It was like yesterday when I had my first day selling career in Daang-hari Road, one of the very good developments in the south. If you are a real estate seller and familiar with it, then you are probably a veteran sales practitioner. My traditional selling experience came to birth and grew in that place with so much experience to remember. Though, my sale was not as productive as I expected over the numbers of inquiries and walked-in clients that I had. Disappointments and frustrations are common after all the effort.

With the game of probability, we sellers usually expect a closing out of 10 site viewing if clients came from mall manning, saturations, flyering and other activities. On the other hand, referrals normally give a high percentage of probability.

Read also: Career and Opportunities in Real Estate   

source: vreinvest.com

Effective selling also depends as to what property type or classification you are selling. Say, for example, the big difference in selling Samsung phones over unpopular brands. Actually, more factors that influence a closed sale but there are techniques in doing it like learning the mastery of the salesmanship or the art of selling.

Selling the Invisible

Many sellers have their unique styles in selling that are effective. For me it's learning - selling the invisible and understanding every client’s need. I'm referring to selling property as invisible by focusing on intangible benefits to customers.

During Manning

To get the attention of clients at manning in malls is very challenging. You need a special skill to do so to be able to get their time for a brief preview of the property. It takes practice and familiarity of a project to make them interested and spare their few seconds to listen to your presentation. Mainly, clients get interested because of the look of property, location, affordable price and brand or project developer. So, take advantage of every moment to showcase what’s best in a project.

During Site Viewing

As for most successful sellers I know, they start the closing process while on the way to the site. As for me, I prefer to be honest with clients and say that the project is quite far. This is to set their expectation that the area is not yet fully developed. However, I also let them imagine how the area would be in the next 5 years or so based on city zoning plan or current development near the area. Thorough research and keep an update to the area could help you with this. This is also one way of selling the invisible.

As property consultant, we are not just selling property but we are selling lifestyle. Future development is very important to buyers and we need to take a moment to discuss this to them.

Setting the buyer’s expectation would lessen disappointment if the property really is far. There is nothing you can do if the client weren’t happy with the location. Being honest may allow them to re-consider the other things the property could offer. At least you gave them good impression.


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The Computation Challenge

Giving out of sample monthly amortization is another challenge for sellers. It can be your advantage over other sellers if you can give clients a near-accurate monthly payment for any financing term. Take in mind that most buyers inquired from many other sellers before they inquired from you. Understand their budget, need and capabilities by giving them a good offer or option.

The Effect of Progression

Progression is a real estate valuation theory which states that a property of lesser value is enhanced through proximity with higher value properties. [source: investorwords.com]

Track record of your developer, other property developments in the area and the existing community could be your model in presentation. Be familiar with what this property development could bring to the community and be in best position to showcase it. Property buyers are investors and are looking for property appreciation in the long run. If your property is under pre-selling, then make a strong point on the appreciation value of the property and give example how often the increase in prices to give buyers an idea in their return on investment.

Their Dream Home

We had a site viewing at a high end property and luckily an officer of our sales group gave us assistance. As the property developer is known for, we give emphasis to the strength of house built by letting clients personally see the ongoing house construction. This gives the clients assurance as to how safe will their families be in their future home. Then after, we showcase the flexibility of the house model by showing them the dressed-up model units.

The True Intangibles

If the community is existing and the area is already developed, then focus on intangible benefits. Whether for primary home or investments, buyers are always looking for return on investment; be it safety, good community and environment it may give to their family or privileges they could enjoy like amenities and facilities are very essential. Likewise with buy and sell investor, all those intangible things along with good property management will give a higher return of investment.


Read also: In Sales, Honesty is the Best Strategy   


The Closing

And for your closing advantage, be familiar with the reservation process, payments and financing. Knowledge is power; it will give you respect and authority. Keep in mind that reservation is just a start of a sale; keep a good impression and coordinate with clients, follow up and follow through until their property is turned over to them.


And, invisible selling is fun. Good luck!



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About the Author

Jerome Morada

Realtor & Webmaster

Good day! I'm Jerome, your friendly Real Estate Broker with PRC License 0012399 and HLURB registration. Just sharing simple tips, please share if you find it useful! Thanks!

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