Something is wrong and you know it, but you are naively hoping things will get better.
The reality is – it won’t.
My parents lost everything when they left war-torn Vietnam.
They lost it all again when my father’s plastic manufacturing factory almost bankrupted our family in the early 1990s during the recession we had to have.
Each time, however, they never looked back nor hoped the good old days would return.
Metaphorically, their ship had sailed and they would adapt into new conditions.
Like most Australians, they prospered through real estate but always reminded me to never rely on another boom.
They stayed loyal to the process of hard work and persistence. Simple yet effective formula.
This is the problem with the old system and why your development is struggling to sell.
You’ve hired agents and project marketers that became successful quickly because of unprecedented economic prosperity.
Don’t confuse this with skill and ability.
At its peak, properties were exchanging hands so quickly it could be sold up to three times within twelve months.
Why else do you think the media love to keep releasing propaganda that the market is “returning”.
They know this is exactly the story you want to hear.
The reality is, things never go back to the way it was.
But you already know this.
Nothing changes until you change.
When your development sells, the sales team are always quick to applaud themselves.
But when it doesn’t you will be greeted with poor market conditions, the leads are shit, your property is overpriced … (I could rant on).
Interestingly, I have yet to hear anyone say it was because they didn’t follow a sales process, perhaps they didn’t nurture the lead properly, or because they gave up too soon.
When you think about it, textbook sales statistics say that 80% of sales require 5 meetings and 44% of sales reps give up after 1 follow-up – this is highly alarming.
Not to mention that the average buyer journey takes 5 months. Realestate.com.au even did a survey on it guys, it is a real stat!
I’ve even been told by developers that their agents are extremely unique because they are very selective with who they speak to. Wow…
Or how about the agent who refuses to visit a client after hours and demands that they meet at the display suite between 1-3pm Saturday?
If someone is willing to hand me a suitcase of cash, I’ll even drive across the Nullarbor tonight. Just let me find my keys.
I remember when my previous employer (a developer) single-handedly sold 20 townhouses himself without an agent, newspaper or a fancy landing page.
He saved himself a princely sum of $400,000 and would drive all potential buyers to the site in his humble Lexus.
Sunday? Bring it on he would say.
Can you see how good times and a huge reliance on online portals have transformed unskilled agents into order takers?
The truth is that developers don’t have a lead generation issue, they have a lead management issue.
As you may already know, if your project marketer or sales team aren’t paying for the marketing out of their own pocket, do you think they are as invested as you to return that phone call within an hour of receiving it?
Everybody knows that the odds of calling to qualify a lead decreases 6-fold in the 1st hour.
If you’re being told that calls are being made within 2 hours, then it’s likely to be 4 hours. You get it, right?
Sure, they don’t get paid until your project settles so they are already in bed with you, and the most they stand to lose is time. But what do you stand to lose?
You may not pay anything until the end, but have you calculated the entire true cost?
How about holding costs, the opportunity cost, the stress and risk you bear as the developer? Or worse, what if you had 3 projects selling simultaneously?
It is incredible the response I get from developers when I ask them how THEY would personally handle their own leads.
They would behave exactly like my old boss – call straight away, meet on a Sunday and even personally chauffeur them to a site meeting.
Can you see why the old system is broken?
I bet you’re a bit like me, you know sales are happening (cranes are still going up) but feel like a mushroom (kept in the dark and fed shit) when it comes to feedback on how your leads are being handled.
People like to buy, they just don’t want to be sold to.
One of the biggest questions I get is “what do you actually do?”
We help clients sell properties by generating leads and booking sales appointments.
Believe it or not, it’s all we do.
If your project is already completed, or have reached Development Approval (DA) stage we can help you generate leads and book sales appointments.
You have three options.
1. Stay where you are.
2. Try and figure out this problem yourself
3. You can work with us
What’s going to be easier for you?