PropTV Ep. 10 How to Avoid Fallover Before Deposit

Video Transcript

Mike Bird

So today we’re talking about how to increase your appointment to deposit conversion rate. So first of all we’re looking at, making sure we’ve got everyone in the room. Often a common mistake that we hear and that we can see in the data is that both key decision makers aren’t out there. So, putting the onus on one person in a relationship for example, to kind of go home and sell the kind of idea of moving or buying in your apartment or a new home can be fraught with danger because you’re not kind of able to unearth some of those objections and really address it and to kind of more importantly further understand whether your product is actually the right one.

Jake Taylor

Getting verbal conf. from one person is only half the way so really, talking to the next person and going through their decision making and helping them with any process that they need is gonna be pivotal to get the next step.

Mike

And often with the second or third appointment, so point number two is find out what first attracted them to the project. What was about the area, the product, the price point potentially and kind of reminding them and reiterating back towards the end of the process cause they may have forgotten what they first fell in love with this particular home or landlot or apartment or whatever it might be, and looping that circle back around – we find that is a very effective way to convert people through the consideration process.

Jake

Yeah, there’s a huge amount of detail to get lost in especially for first time buyers that are doing it for the first time, so bringing it back to the core reason why they’ve got involved and why they see their future on this home is gonna be so important.

Mike

And the final thing is understanding who you’re competing with. One of the most common areas we see from a CRM and data perspective is that we find that agents often think about other apartment buildings or other home builders that they’re competing, but a lot of the time in reality it’s the established housing market that they’re working against, so making sure you understand who you’re kind of competing with, what key features has caused this prospect to come and see you as well as looking at some of the other options, again just to remind them and reiterate what it was about your value proposition that enticed them in the first place relative to the other competitors in the market.