Did you know that the simple act of purchasing any product is extremely complex? Before making a purchase decision, the consumer goes through a real marathon from the moment he realizes that he has a need that needs to be met, until the moment the negotiation has been concluded. This route was called the purchase or customer journey.
In times when it is possible to obtain any type of information easily, a successful real estate agent does not make sales, he helps his client to make a better purchase decision. Therefore, understanding the consumer’s journey is extremely important, because through it, it will be possible for the professional to draw up an action plan for each stage of the purchase process.
Continue reading this article and understand what influences your customer when buying a property. Check out!
What is the purchase journey?
According to Chet Holmes – who is one of the greatest marketing and sales authorities in the world – 90% of potential buyers of a product are still not interested in it, for whatever reason. Of the remaining 10%, only 3% have the desire to buy it, and the remaining 7% are willing to hear more about the offer.
Given this scenario, it is possible to see that a large part of its possible customers do not yet have the desire to buy a property. Therefore, a good strategy to be able to position yourself efficiently in front of the prospect is to divide the purchase decision process into stages.
At each stage, the consumer has specific behavior. In this way, it will be possible to establish own actions in each phase to conduct it efficiently until the conclusion of the deal.
However, the broker’s work does not end after the contract is signed. It is necessary for him to carry out an efficient post-sale so that the customer does not forget him, resulting in an increased chance that new business will happen to this person or that he will make some indication.
What are the stages of the purchase decision?
1. Recognition of the need
Considered by many to be the most important step in the purchase decision process, it is based on the fact that the prospective customer recognizes that he has a problem or need that must be met. In the case of the real estate market, this occurs due to several reasons, such as the need to make a safe investment with a high cash value; the birth of a child; or even marriage.
The best action to do at this stage is to invest in prospecting for new customers. For this, it is necessary to have good strategies, and it is essential to have a well-defined marketing plan. A good tip is to use new technologies to your advantage, especially to perform content marketing over the internet.
In this second stage, the prospect has already learned that he has a need to acquire a new property. However, he is only considering making the purchase but is not actively looking for a property.
The most common is that the consumer seeks various information to be more informed about the real estate market. Therefore, the best strategy is to get this possible client to know you better, winning him over and convincing him that you will be the best professional to help him find the ideal property.
It is at this point that the prospective customer begins to assess how they will pay for the property. Possibly, he will need credit, so it is necessary to inform him about the loan possibilities and highlight the advantages of real estate financing.
The most important thing in this phase is to try not to make the sale because the prospect is not ready yet. In this case, the main focus of the strategy is to build a long-term relationship.
When the prospect is convinced that it is time to buy a new property, there is a great possibility that he will start his search on the internet. This is already a reality since most consumers are looking for a good deal in the real estate market through the world wide web.
At this stage, it is essential that you have a great online presence, making the prospective customer in constant contact with your brand or with the real estate agency. Therefore, it is necessary to have an updated website with its main offers and to carry out advertisements in the main portals specialized in real estate negotiations.
Another good tip is to get in touch with this possible consumer, turning him into a lead, to always send you relevant information and content, in order to strengthen the relationship and create connection and trust.
In this phase, if he decides that real estate financing is the best option, the consumer will start looking for a solid financial institution, with credibility and that provides good payment terms. Therefore, he will start to perform several simulations, always looking for better interest rates.
So, in order for you to gain the trust of this prospect, give valuable tips on which is the best operator for him. That way, it will save time in your research and, through the mental trigger of reciprocity, you will be more likely to make a sale.
4. Purchase decision
After analyzing the various alternatives on the market, the prospective customer will be able to make the purchase decision. For this to happen, it is essential that the real estate agent provides full support, being a true consultant who will allow the prospect to make the acquisition of the ideal property for your needs.
At this stage, the strategy is based on having concrete data on the real estate market, which will guide the consumer to base his choice. Another good tip is to be agile during the negotiation and bureaucratic transactions. However, the most important thing is to always be honest with the customer, showing them that you are working hard to provide the best shopping experience possible.
Do not forget that it will be at this stage that the customer will have to face all the existing bureaucracy to buy a property. So stay tuned and help you with all the documentation, especially the one related to real estate financing, because, for the credit to be approved, in many cases, there are deadlines that must be met and you do not want your consumer to lose it, Is not it?
This step is the great differentiator of a successful realtor since the post-sale is essential to be able to retain the client, making him consider you as the appropriate professional to carry out a future real estate negotiation. Even if the consumer does not buy a new property, there are great chances that he will refer you to his friends, making you attract new customers.
The focus at this stage is to make sure that your consumer does not forget about you. Therefore, the tip is to always be in contact with him, sending useful information about the current situation of the real estate market or, even, relevant content to carry out better maintenance of the property.
By having a good knowledge of how the purchase decision occurs, the real estate agent will be able to have an efficient strategy to lead a prospect who has just decided that he needs a new home until the contract is closed. The great advantage is undoubtedly to increase your sales and win loyal customers.
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