There’s a delicate art to talking about property prices with clients, especially when it’s about an increase. An ill-prepared conversation is a big hurdle to a sale, but the opposite is promising: a well-presented case can make a no-sweat closed deal. The key to getting a yes from a property seeker without hesitations — despite an increase in real estate price — lies in excellent preparation and presentation.
If you’re part of a brokerage network, we highly recommend practicing client conversations with colleagues to gain confidence and get tips for improvement. If you’re not a member yet, consider joining one of the most prestigious professional groups in the country, Moldex Broker Network.
With that, use these tips below for handling conversations about increases in property prices.
Explain the Reason
The first thing that usually pops into people’s minds when they hear about a price increase is the question why. Thus, it’s important to communicate clearly the reason behind the price hike. In the case of pre-selling projects, their price increases as they near completion.
Bring clients to a point where they understand why this price increase is necessity. Once you achieve that, you’ll be able to dispel confusion and, in a way, disarm hesitation, increasing the likelihood of clients pushing through with the real estate transaction.
Here’s a sample of explaining the why:
[Name of client], this condo is nearing completion. I wanna be transparent with you that the price of the units will increase as the construction continues. I’d be happy to share development updates when we set another appointment, but I would encourage reserving a unit now so we can take advantage of the lower price. What do you think?
Notice that the statements above kept the focus on the reason for the price increase, not the increase itself. This can help in minimizing purchase hesitation. You can learn more about these kinds of customer relations tactics when you join Moldex Broker Network, a respected thought leader in the industry helping professionals improve business practices.
Address Any Hesitation
After explaining the reason, some clients would accept it as it is. Others will be uncomfortable with the idea of paying more. If you’re faced with the latter, you should be able to carefully probe where their hesitation comes from. By knowing what makes them uncomfortable, it would be easy to come up with alternatives and solutions that would directly address their concern.
Here’s a sample of addressing hesitations:
Do you have any questions about the updated price? If this is a concern on your end, I’d like to understand it better so we can come up with solutions that work for your situation and go over the payment options available. Could you please give me some background to your concern? What’s the biggest challenge on your mind right now?
Real estate professionals at Moldex Broker Network always promote the value of knowing one’s client. To make sure that a solution really benefits property seekers, it’s important to do a needs analysis first. In the sample statement above, you’re trying to probe and determine what could make the client back out of the transaction.
Talk about Other Promos
Since the matter is about price increase, there’s a good chance that your clients’ hesitation comes from a money-related issue. The price may be out of their pre-approved home loan range. Or they’re already set on a particular property price range. For money-related concerns, talking about promos is one way to reduce hesitation.
Here’s a sample of introducing promos:
Thank you for being open to me about your concerns. We don’t have to give up on this dream home just yet because we can explore different financial solutions. The developer has flexible payment schemes for the down payment. We can take advantage of [name of promo] as well. Would this arrangement work for you?
One more solution you can present to the client is another property offering. If the price increase went way above their budget, you can present a completely new real estate option that suits their needs. The good thing about being accredited by Moldex Realty is that you get to access a wide range of property types located in various places in the country and available at different price points. It’s easy to recommend properties with a huge portfolio like this.
Highlight Unique Selling Points
As you keep hesitations away from your clients’ focus, put a spotlight on the unique selling points of the project. This is one more way to justify the price hike. If property seekers see that they’re getting premium amenities and services, they’ll likely be more open to accepting the change.
Fill your presentation with the facilities and features they can enjoy in the development you’re selling. Paint an aspirational lifestyle, where clients can imagine the life they can have. Create a sense of fear of missing out should they decide not to push through.
Here’s a sample of highlighting unique selling points:
The increased price on this home reflects all the modern conveniences you can think of, from an open floor plan to high-quality appliances to relaxing, resort-inspired amenities. Imagine, you’ll be waking up to a beautiful view of the city. And you won’t have to worry about traffic jams in the morning because you’re just a few blocks away from your office. Here, you’re making the right investment.
When you get accredited at Moldex Broker Network, aside from the wide range of properties you can choose from, you won’t have a problem looking for the most sellable features of the properties. That’s because each one of them is carefully designed to serve modern property seekers’ needs.
An increase in property prices is a conversation brokers need to tread carefully. With a lot of practice with fellow colleagues, it’s possible to master talking about it with grace and competence. Join Moldex Broker Network and partner with success-driven professionals today.