It seems that in years past, a real estate agent could decide which homes to show me on any given trip we made together. I have read recently in an interesting book about the way you position the alternatives…often precipitates the decision by your client.
So, if you have (1) one home to show me that is modern, but needs a lot of internal repair work (like bathrooms and kitchen and floors) at $20,000 less than (2) modern home that is in great repair and shows well, and house (3) that is more old fashioned (maybe a tudor or an older home) in good shape…in the same price range. The buyer (me?) may have a higher likelihood to buy the modern home that is in better shape, because there is a comparison.
One home is similar, but better than the other.I wonder if that is the same way with a lot of other purchases. How about a mixed breed dog versus a purebred one? one looks good to me and I don’t know if he’s purebred or not. This is also akin to brands. Today I saw an ad in the New York Post for a black saddle bag. I’ve had dozens of those in the years I lived in Manhattan. This one was in Bergdorf Goodman, and the brand is Lanvin. The price $2535. Mine were usually much less costly than that one. I am wondering though with real estate clients now enabled to look at mls listings online…whether it makes it harder for agents to position products strategically. Maybe we are overwhelming clients with so many choices (and a soft market. Let me know your thoughts…
on Oct 2nd, 2008 at 2:57 pm
The point about too many choices is absolutely the case. In trying to segment the consumer, consumer product brand companies have overwhelmed them with too many choices that just irritate the consumer. Try finding the “right” Tylenol mix for your head cold - do you have a headache with the sniffles - that’s one, headache with chest stuffiness, that’s two, multi symptoms, - that’s another. They even developed a display rack that listed all the symptoms so you could go around, find your symptoms and then find the right product of the 50 on the display.
I really good questions - not a strong suit for many sales people. You need to find out why the people are moving, what;s most improtant to them, how do they feel about being near transportation, etc. Once the conversation is started, you can get int the deeper emotional stuff because you have earned the right by asking a good question and, (gasp) listening carefully. Then you can ascertain whether they have it in them to renovate (kid coming soon, forget it), and you can talk to them about the things they may have chosen against the set of criteria and emotional concerns they have expressed. You can help them do the right comparison and you will be the perfect “trusted advisor”.
Anne