What ability does your selling partnership need to sell off-plan units?
There’s a reason why estate agents sell bucket loads of existing homes and far fewer new builds: the process of selling is different. When it comes to selling off-plan units, a more comprehensive property marketing framework is needed. And with off-market property sales mostly made to investors – tending to be a harder sell than new builds to homebuyers – different negotiating and communication skills are used in the sales process.
Here are five of the sales skills we insist our agents embed in their armoury:
1. Listening to and understanding the property investor’s needs
The agent needs to listen to what the investor is saying, and use appropriate open and closed questioning to drill down to exact requirements. Then it’s a question of presenting the off-plan units in line with those needs.
2. Communicating concisely with clarity
The agent will help the investor see how the off-plan units for sale can fit needs. The agent must have the communication skills to sell the vision – off-plan units may be no more than a drawing, and taking that drawing and creating the full picture is an art. The investor needs to be inspired not only by the property for sale, but by the development, location, and nearby amenities.
Photographs of previous developments help give the investor the vision of what the developer is capable of producing.
3. Know how to sell the product
Off-market property sales are different to sales of existing homes because there is more emphasis on selling the product. It’s not the same as ‘getting into bed’ with a homebuyer: new build off-plan units are sold by selling the product, lifestyle, and investment potential.
4. In-depth product knowledge
An estate agent, who is selling homes, is really matching a buyer up with something that is already there. To be successful in off-market property sales, the agent must know the product inside out, back to front, and upside down. They need to be able to explain all the options available.
They also need to know and understand the terms and conditions applied to sales contracts and have the ability to answer queries and combat objections immediately.
5. Negotiating skills
Finally, the agent will need to use all their negotiating skills to close the deal, offering low or no-cost options to encourage investment while helping the buyer to move through to completion.
Our team is not only experienced in off-market property sales but also benefit from the comprehensive continuation of personal development and focused product training for every development sourced and offered to the waiting investors. Feel free to give the team a call on +44 207 923 5680 and find out how our experience and specialisations can benefit your development and increase sales of off-plan units.
What’s the most important skill in your view?
Live with Passion,
Brett Alegre-Wood