WG
Wingate Group Ltd. 

Can you Speed Up Your Property Sales Process?

Home Builders, Property and Rental Agencies, Retirement Home Operators should read this story below
Newlyweds Seek Out Their First Home
based on a true story (of an expensive sequence of errors)


Sam and Sara walked into a showhome excited and eager to see and learn more about their potential new home. They had been on the homebuilder’s website many times over the past few weeks and even had a call with a friend that had bought a few years back in the same community. Despite a few minor defects, their friend still highly recommended the builder and talked about all the new amenities in the area.

Like many of today’s buyers Sam and (especially) Sara did a lot of research online and felt very close to making a decision when they finally made the drive across town.

Upon arrival, the host greeted the couple enthusiastically and found them to be very well educated and armed with some tough questions. The questions, in some cases, were beyond what the host was used to and she consequently lost all feeling of control over the conversation with the newlyweds.

Despite feeling a little overwhelmed, the host was able to learn that Sam and Sara were expecting a baby, had already been approved for a mortgage, and had a close friend living in a Phase 1 home nearby.

Unphased about the few unanswered questions, the couple were very impressed by the home’s design and overall ‘feel’. They could in fact imagine living there - with the right customizations, of course.   Before leaving they left their email address and a couple questions written down for the hostess to research and write them back.

Moving on to another guest, all that was left of Sam and Sara was a hand-written note which the hostess eventually used to reply with the requested information. Months later now marketing still sends Sara emails, but neither sales or the host ever spoke to the couple again.

~The End. ~

Now let's break this down and provide 6 areas we can make signifigant improvements.
 
This story may seem like an exaggeration, but it is in fact the reality (or close to it) for many home/condo builders, property managers, realtors, and retirement home operators.  How many couples do you have to market to to get such an opportunity? Can you afford to let them go so easily? Let’s breakdown how this process could be a whole lot more profitable and manageable for your company!

Let’s approach this from one angle - the concept of Lead Scoring:

1. Profile
Sara should have already had a profile within the builders’ Customer Relationship Management (CRM) System. As she accessed resources on the builders’ website and came back several times, her score should have gone higher and higher with each visit to the website. Her profile would show what she read and how many times she visited the company’s various web pages.

2. Process
The hostess should have had a process.  Often it would be to search for Sara in the CRM (Tablet or Desktop) and gather important information As A First Step, taking control of the process and showing professionalism! Having a baby = Timeline for decision, a date and mutual plan could have been established and put in the CRM; being pre-approved could have been further explored (dollar range & institution), and the connection to the Friend/Customer should have been made in the system as an 'opportunity influencer'.  All of this information would push Sara and Sam’s CRM Score through the roof.

3. Pipeline
Given all the positive indicators in the profile and the resulting high Score, this opportunity should have been automatically assigned to a professional sales representative for an immediate call. S/he would be accountable to call and personally meet with the couple, answer the questions and match them to potential units. Ideally the sales person would also quickly call the friend, and gather any information about the Sam and Sarah that may be helpful.  Since this would be in the company CRM Pipeline, sales management would have a weekly view of the status of this opportunity and the evolution of the next steps.

4. Quoting & Contracts
When it comes time for a contract generation, much of the data from the profile can be automatically merged into the contract, cutting valuable days out of the sales cycle.  We have even seen customers create and measure competition over a particular unit or use ancillaries like parking, storage, and trade availability to close the deal!

5. Post-Sale Service and Referrals
Sales and Service should be able to access all post-sale information including tickets open/in-progress/closed under each customer's profile.  In this story, the sales rep should be able to speak intelligently with the couple’s friend about the deficiencies while gathering information about the prospective buyers.

Email and marketing automation can allow for buyers to be automatically updated as construction milestones are achieved, saving your team's time and improving the overall customer experience.

6. (Intelligent) Nurturing and the Feedback Loop

Your company is heavily invested in the many assets that your leads touch: websites, show homes, advertising, your employee time, technology, etc. When you lose a sale you must capture the Closed/Lost information! Without it, you cannot make data-driven decisions to improve your product and process. On the other hand, if it’s still in pipeline for Sales or Marketing, communications should be related to the lead’s actual profile.  This way, the customer knows that you’re listening and offering relevant communications going forward.  At the same time, anyone from your company should be able to have an contextual conversation with known people at any point down the road by accessing their rich profile of information.
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Wingate Group offers Home Builders and Property Management Companies the opportunity to sell more and service faster.  Our solutions are built on Salesforce platform.  We would love hear more about your challenges and ideas. Email us at info@wingategroup.ca or use the contact us form below.

 

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