VLOG: Creating Urgency with the Downsizing Buyer

TRANSCRIPTION OF VLOG:

Hi everyone. Kimberly Mackey here with New Homes Solutions, and I am coming to you today because you asked us some great questions on our little poll we conducted on Facebook. This prompted us to start a new series to answer your questions because they were fantastic. To have your question featured, you can email us at Info@NewHomesSolutions.com, and either Kathy Tucker or I will be happy to feature your questions and give you some coaching help overcome those challenges.

Today, I want to talk to you about creating urgency with the downsizing buyer. The downsizing buyer is a little bit different, so we must treat them a little differently. Usually, they do not have to move. It is usually a choice to move. So, to be able to help this buyer most effectively, you must understand the why. Even though, of course, you must understand the why with every buyer, it is particularly important to take that time with this buyer.

When you understand the pain points, and you understand what they are going to gain when they move, only then can you create urgency. What do I mean by that? Well, the pain points are if they stay where they are currently living, what is causing them pain? Could it be that the home is just older which might mean now it’s time to do all the maintenance like replacing the roof? Perhaps the yard is too big and requires just way too much work or things are starting to break and fall apart, and it’s becoming that constant source of pain for them to have to take care of it.

It could just be that it’s just too big. Maybe now they are empty nesters, and it’s just so much room for them to take care of, and they just don’t want to maintain all that space or take care of that much home any longer and keep it clean. I mean, just weekly cleaning for something that you’re not using can be a frustration point and certainly at a time when perhaps they’d rather be out doing something else.

Perhaps they must move for financial reasons. That one can be a little tricky because the pain might be uncomfortable to discuss, especially if they really don’t want to move, but must move. This can cause all kinds of other sorts of issues to come out. You will really need to take your time with this one. Explore this fully. If they seem reluctant, and you can’t figure out why; this is probably the reason. Move forward delicately by asking questions such as, “So, let’s talk about your taxes. Let’s talk about the insurance on this home. Let’s talk about the maintenance and upkeep, and what is that costing you?” If you spend that time talking to them and really understanding it, they will open to you, and they’ll share with you what those pain points actually are.

Another reason could be that it is an unfortunate situation involving too many memories in that home which makes it too painful to be there. Be delicate with this situation, but you are not going to be able to help them unless you can really get enough information about the situation to assist. Not that you need to be their therapist but do learn enough about what is going on to really understand what’s causing them to need to move forward in their life.

A happier focus, after you understand the pain points, is to turn things around and find out what the dream is. “So, by making this move, what is going to change in your life? What are you going to be able to do with the time or the money or the lack of maintenance that you don’t get to do now?” Really spend the time focusing on what they gain. This is where the focus will have to be because that’s their primary motivator for moving. When they get stuck by fear, this is the part that you are going to have to go back and revisit. Take the time to understand what that dream is. Is it the ability to travel? Is it lowering those expenses, so they can do other things? Is it having the time to spend with those grandkids? Does it move them closer to friends and family? Maybe they’re trying to move closer to the kids, maybe to the grandkids. What is that going to allow them to do? By thoroughly understanding that motivation, when they get stuck, that’s when you’re really going to be able to help them. Because moving is scary, and change is hard, and we need to understand that.

Objections, of course, as with any other buyer, are predictable. They are your signposts, and they simply mean that that buyer has unanswered questions. To become a resource for them. Help them to understand how to downsize, how to part with that dining room table they haven’t used since 1994, and really, do they need those things in their life? Perhaps an estate sale or the kids might want some of the things, so those memories can be passed down. Share some solutions particularly if you worked with other buyers in that scenario. By taking the extra time up front, you will be able to create urgency.

If, even after all of this, you can’t get the buyer to decide today, don’t just let them leave and go think about it. Be sure that you’re closing for that next appointment and that you have a plan to keep things moving forward by talking to them about the next steps in the process. Say things like, “this is the next thing we have to do so let’s schedule on Tuesday at 10 to get that done”. When you keep them moving forward, you are going to get them to the goal that they sought you out to help them with much faster.

Kimberly Mackey is the founder of New Homes Solutions, and has the reputation as someone with real-world SOLUTIONS in a competitive and rapidly changing sales environment–SOLUTIONS like “50 Sales per Year before Any Walk-in Traffic”. She is a keynote speaker and published author of many Sales and Leadership articles with 20 years of experience as an executive in the residential home building and real estate industry. She has a proven track record working with Builders and Developers of all sizes –from the local/regional companies to the publicly traded nationals. She also works with Brokers from across the country and is the architect and director of the highly successful Preferred Builder Partnership with Berkshire Hathaway HomeServices Florida Properties Group where she works with 32 builders and over 600 agents.

For more information, or to book Kimberly for your next event, visit www.NewHomesSolutions.com, or visit Mackey at LinkedIn,www.linkedin.com/in/kimberlymackey; Twitter,www.twitter.com/KimberlyDMackey; and Facebook,www.facebook.com/NewHomesSolutions or on YouTube, www.youtube.com/c/NewHomesSolutions