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Replies to Rick's Question of the Month
Lesley Roberts (UK)
Company: LR Consultancy
Title: Director
Great web site with a lot of common areas to the business I am invovled in - England UK
Shawn Grundy (Las Vegas, Nevada)
Company: American West Homes
Title: General Sales Manager
I think a lot of agents, and managers for that matter, tend to rely too much on reporting that is done for their area. All that you can see from the report is who's selling, but not how they're selling which, of course, is more important. It is an absolute necessity to get out and shop your competition. It's also a great idea to have your competition professionally shopped as well.
Gregg Hade (Miami, FLorida)
Company: SH Communities
Title: Regional Vice President of Sales
Understanding and being able to use your competition as part of your sales technique is extremely important in today's times. If a buyer knows the competition better than we do how can we overcome any objections. Take your sales people out and shop the competition with them. Show them how to shop. Shopping your competition is not just getting a brochure but rather talking to the sales rep and understanding what it is they do. Pricing, promotions, current incentives, model tours, community tours, ammenity tours all play a part of the shop. In return your sales reps should be willing to help their competitors when they shop our communities. It's a two way street.
Brian Brickley (Ann Arbor Michigan)
Company: Guenther Homes
Title: Sales Manager
You have to shop the competition. Find out what they are offering but just as important how they are offering it. They could have a great product but be represented by an untrained and downright rude sales staff ( hard to believe but sometimes I can't get them to come out of their office)and you can out sell and out class them even if you have higher prices or less desireable location. You may find that they are bragging about a paticular standard feature that you also include or could include.
Mike Leckie-Ewing (Jeromesville, Ohio)
Company: Wayne Homes
Title: Sales Manager
Understanding who your buyer is comparing you with is crucial to your success. I agree with Dominique - it's easier to stay where you are. It's critical to understand the comparisons there first! In regard to your "new home" competitors, you have to be able to encourage comparison in those areas where you "win". Sometimes this cannot be gathered through a visit to a website. When visiting another builder, I prefer a direct approach... Introduce yourself and explain why you're there. You'd be surprised how often and how much they're willing to share if you show respect (remember - you'll have to be prepared to give back what you're getting). Nobody wants to have their valuable time wasted by a shopper.
Dominique Sampson (Plymouth, Massachusetts)
Company: The Green Company
Title: Vice President, Sales & Marketing
It's never been more important to understand the competition. We sell to empty nesters and there are "55 and older" communities springing up around us like mushrooms so we need to know about their plans, prices, amenities and standard features. We take tours as a group a couple of times a year and then compile the information in a notebook so we can always have the most current information. One of the things we look for, however, can't be analyzed, and that's the feel of the sales office - the way it makes people feel when they walk in - the sight, sounds and even the smells tell us a lot! Just as important is understanding that our main competion is our buyers' current homes. Purchasing a new home is discretionary for them - no school schedules or new job transfers for them - so understanding what's missing in their current environment and how we can saisfy their needs is critical.
Janice Hurst (Austin, TX)
Company: Newmark Homes
Title: Regional Dir. Sales Development
With the assistance of the Internet or a brochure exchange with the competition, we compare base pricing, standard features and best selling plans on an excel spreadsheet/ dot graph. This is done quarterly, or more often if the market is moving.
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