Drive Sales Growth Right Now: Start by Redefining the Market
Something has to change, and I believe that the change toward a positive environment begins with, you, the sales professional. If you’re not positive and optimistic, it’s a good bet that your customers will follow your lead. You have the opportunity to drive sales growth right now!
Let’s start with your outlook on the market.
Oh, wait. Let’s not. The market is what the market is!
We can discuss ad nauseam the state of the market, and it won’t change a thing. Take a look at the following list of factors that generally make up the housing market:
- Supply and demand
- Pricing
- Macroeconomic factors
- Competitive forces
- Job growth
- Interest rates
- Mortgage availability
The problem with this list is that the factors are all elements over which you have no control. This list suggests that you’re a victim of your circumstances. Moreover, it suggests that the customer is also a victim!
But why not simply change the definition of “the market” and make it work on your behalf?
I believe that’s possible, using this very simple definition:
“THE MARKET” = 1 SALESPERSON + 1 HOMEBUYER
You are that “1 Salesperson,” and the next person who walks through your door is that “1 Homebuyer.”
If that person is in a position to buy and you’re in a position to sell, how strong is the market? IT’S PHENOMENAL! It is truly a GREAT market!
The mindset of a top sales professional says, “Tens of thousands of people around the country will buy a home this week. Why not the person who’s about to walk into my sales office?”
How does this mindset affect the market factors listed above? It renders them irrelevant!
“The market” is no longer about interest rates unless they affect this particular customer. “The market” is no longer about prices and incentives unless they affect this customer’s value equation. You must come to grips with the idea that every customer who walks through the door brings their individualized market. For example, do people sometimes buy in less-than-perfect locations? Of course, they do; we’ve all sold our share of homes near highways or backing up to power lines. Sales in less-than-perfect locations demonstrate that those buyers represent “the market” for those homes.
How does your mindset change when you adopt the perspective that the market equals one salesperson plus one homebuyer? Consider these questions and their answers
- How does it affect how we react to slower traffic levels? Theoretically, it means that a salesperson needs just three units of traffic to get three sales.
- How does it affect how we react to higher incentives from competitors? These incentives now only apply if the competitor has a more desirable home.
- How does it affect how we perceive the practice of closing a buyer on their first visit to our community? If it’s the right home, it doesn’t make a difference which visit it is.
Here’s the mindset you must adopt: “The market” is walking through your door right now. The entire market is walking through your door right now.
You get one shot with this particular market. Will you maximize the opportunity? Learn more about these and other relevant topics in the updated version of Tough(er) New Market New Home Sales.
It’s only a matter of whether you will embrace the market or be a victim of it.
