Question to Homebuilders and Developers:
What thoughts come to mind when you think of a Homeowner's Assocation meeting? Do you think of axiety, anger, tomatoes, frustration, friction and burning torches? Probably. I've had those thoughts, too.
Last Thursday, I entered such a meeting.
But this one had the makings of being worse. I was about to inform the homeowners that the construction of the clubhouse and pool would be delayed indefinitely. Not permanently, mind you, but for the foreseable future. Financing of the clubhouse and pool had recently by de-funded by my construction lender leaving me with no choice but to postpone the December 2009 opening.
Not surprising, tensions rose; emotions erupted. Profanity ensued.
After a period of civil discussion (missing from our culture in every day America) something amazing happened. I mean AMAZING. A handful of homeowners offered to loan the money to pay for the clubhouse. Unbelievable.
Details haven't been worked out and I'm sure there will be a few. One thing is for sure: My business has a new Joint Venture. I couldn't be happier.
In these (economic) times, can you think of anyone you'd rather partner with than your customers?
Showing posts with label management. Show all posts
Showing posts with label management. Show all posts
Tuesday, September 29, 2009
Tuesday, August 25, 2009
Are you a Kategadi
Last night, I (thought) I had the greatest idea. I was watching an episode of Property Virgins on HGTV and..............Wait a minute. I should probably clarify why I was watching HGTV at 9:00 on a Monday evening.
I recently attended a Jeff Shore sales training workshop (twitter.com/jeffshore) in Charlotte and he recommended that we watch HGTV (especially House Hunters) to see how real prospective home buyers search for, (think about) and purchase property. Hint: everybody compromises.
Anway, I saw the most awesome way to market your home. Take the market value of your home, slash the price 25% (and reduce that number by $100), and advertise the lower price. Instruct all prospective buyers they have one week to present any and all offers. Seems catchy, doesn't it? For example, your home's market value is $380,000. You decide to list it for $284,900. Seems like it could be the deal of a lifetime, right?
Hopefully, the pool of prospective buyers know that the $284,900 asking price will likely be met and exceeded since it is significantly below market value. Consequently, those "bidding" on the home during the one-week silent auction period will get caught up in the frenzy (because people assume other prospective buyers are doing the same). Assuming the home you are marketing isn't average, you might dupe the marketplace into paying more for your home than if you had just listed it for $380,000.
You've created urgency.
Those of us in home sales know how hard it is to create urgency (in today's market). It's as hard as shooting a 59 on a par-72.
But are you willing to commit yourself (and your company, and your employees, and your reputation) to schemes; gimmicks (e.g., Cash for Clunkers, $8,000 tax credit); distrustful techniques? Are you a Kategadi (Greek slang for scam artist)?
Or are you the consummate professional?
I recently attended a Jeff Shore sales training workshop (twitter.com/jeffshore) in Charlotte and he recommended that we watch HGTV (especially House Hunters) to see how real prospective home buyers search for, (think about) and purchase property. Hint: everybody compromises.
Anway, I saw the most awesome way to market your home. Take the market value of your home, slash the price 25% (and reduce that number by $100), and advertise the lower price. Instruct all prospective buyers they have one week to present any and all offers. Seems catchy, doesn't it? For example, your home's market value is $380,000. You decide to list it for $284,900. Seems like it could be the deal of a lifetime, right?
Hopefully, the pool of prospective buyers know that the $284,900 asking price will likely be met and exceeded since it is significantly below market value. Consequently, those "bidding" on the home during the one-week silent auction period will get caught up in the frenzy (because people assume other prospective buyers are doing the same). Assuming the home you are marketing isn't average, you might dupe the marketplace into paying more for your home than if you had just listed it for $380,000.
You've created urgency.
Those of us in home sales know how hard it is to create urgency (in today's market). It's as hard as shooting a 59 on a par-72.
But are you willing to commit yourself (and your company, and your employees, and your reputation) to schemes; gimmicks (e.g., Cash for Clunkers, $8,000 tax credit); distrustful techniques? Are you a Kategadi (Greek slang for scam artist)?
Or are you the consummate professional?
Friday, August 14, 2009
Dress Up Thursday Club
I'm not Old Fashioned. Not even close.
I am Old School. Particularly when it comes to the clothes I wear to work. Specifically, I wear a dress shirt and tie every day. I prefer to wear a suit with the dress shirt and tie but these Carolina summer days make that impossible.
It totally shocks me the way that American businessmen dress Monday thru Friday (we'll get to weekend dress another time; i.e., flip flops). It pains me to see that the short sleeved golf shirt has become a staple of the businessman's wardrobe. Add a pair of cheap cotton pants and some loafters and you have the modern-day nine to fiver.
I'm not here to change the sartorial preferences of my peers, at least not all at once. I would, however, like to introduce the concept of Dress Up Thursday for those that may want to reinvent their work style in baby steps. We'll have our own club that distinguishes itself from AVERAGE by wearing old school busines attire each and every Thursday. This includes: dress shirt (preferably French cuffs), neck tie (bow ties don't count), dress slacks (not khakis) and dress shoes (lace-up). Three-piece suit for bonus points.
I'm not endorsing we attend major league ballgames in fedoras and seersuckers. I'm not Old Fashioned.
I am inviting you to join the Dress Up Thursday Club. Old School.
I am Old School. Particularly when it comes to the clothes I wear to work. Specifically, I wear a dress shirt and tie every day. I prefer to wear a suit with the dress shirt and tie but these Carolina summer days make that impossible.
It totally shocks me the way that American businessmen dress Monday thru Friday (we'll get to weekend dress another time; i.e., flip flops). It pains me to see that the short sleeved golf shirt has become a staple of the businessman's wardrobe. Add a pair of cheap cotton pants and some loafters and you have the modern-day nine to fiver.
I'm not here to change the sartorial preferences of my peers, at least not all at once. I would, however, like to introduce the concept of Dress Up Thursday for those that may want to reinvent their work style in baby steps. We'll have our own club that distinguishes itself from AVERAGE by wearing old school busines attire each and every Thursday. This includes: dress shirt (preferably French cuffs), neck tie (bow ties don't count), dress slacks (not khakis) and dress shoes (lace-up). Three-piece suit for bonus points.
I'm not endorsing we attend major league ballgames in fedoras and seersuckers. I'm not Old Fashioned.
I am inviting you to join the Dress Up Thursday Club. Old School.
Wednesday, August 5, 2009
What if Your Passion is Your Passion
I'm a passionate guy.
Not in that sense. At least, that's none of your business.
But, I have a lot of passions. I'm passionate about my country, my real estate business, the game of golf, stylish clothes, World War II veterans, sales theory, downtempo music, fitness, conservatism (not in the green sense, in the money sense) and the Pittsburgh Steelers.
I am passionate about my family. I am passionate about learning.
I am passionate about a lot of things and that's my point. Many of us were taught to follow our passion. None of us were taught to follow all of them.
There are 24 hours in the day. How many are you using?
Not in that sense. At least, that's none of your business.
But, I have a lot of passions. I'm passionate about my country, my real estate business, the game of golf, stylish clothes, World War II veterans, sales theory, downtempo music, fitness, conservatism (not in the green sense, in the money sense) and the Pittsburgh Steelers.
I am passionate about my family. I am passionate about learning.
I am passionate about a lot of things and that's my point. Many of us were taught to follow our passion. None of us were taught to follow all of them.
There are 24 hours in the day. How many are you using?
Tuesday, August 4, 2009
The Clunker Close
You've heard of the Trial Close; the Assumptive Close; the No-Close; the Ben Franklin Close; the Takeaway Close. What about the Clunker Close?
I wonder how American dealers plan to sell new cars once the ridiculous Cash-For-Clunkers program ends. 250,000 vehicle sales in just four days is an amazing feat but how much of it is attributable to remarkable product offering combined with effective sales and closing techniques and how much is attributable to The Discount Mentality? How are dealers going to maintain their sales successes when they can no longer use the Clunker Close?
Aren't we becoming a bargain nation when it takes a discount (price apology) to sell goods and services. What about offering a remarkable product with remarkable service and fair market pricing? Will there be a market for that?
The same applies to home sales. What's going to happen when the $8,000 first-time buyer tax credit expires in just 4 months? Will your product be strong enough and will your sales strategies be good enough to overcome the discount mentality.
A lot of questions, I know. I suspect we'll revisit this discussion and hopefully before the art of selling becomes the art of discounting.
I wonder how American dealers plan to sell new cars once the ridiculous Cash-For-Clunkers program ends. 250,000 vehicle sales in just four days is an amazing feat but how much of it is attributable to remarkable product offering combined with effective sales and closing techniques and how much is attributable to The Discount Mentality? How are dealers going to maintain their sales successes when they can no longer use the Clunker Close?
Aren't we becoming a bargain nation when it takes a discount (price apology) to sell goods and services. What about offering a remarkable product with remarkable service and fair market pricing? Will there be a market for that?
The same applies to home sales. What's going to happen when the $8,000 first-time buyer tax credit expires in just 4 months? Will your product be strong enough and will your sales strategies be good enough to overcome the discount mentality.
A lot of questions, I know. I suspect we'll revisit this discussion and hopefully before the art of selling becomes the art of discounting.
Monday, August 3, 2009
Getting Back to the Basics
Maybe it takes a Great Recession to relearn the fundamentals needed to succeed. Maybe this is all about getting back to the basics.
Two years ago, my business was more about Paperwork than Peoplework. I think about the mindboggling number of hours spent studying reports and financial statements and cash flow diagrams and employee evaluations. I think about the amount in time spent in MEETINGS!
No more. At least it won't be as much.
Recently, I've been spending more time away from the office and in the field - in the trenches. I've been meeting with homeowners, touring the home sites with prospective buyers, inspecting homes with warranty claims - taking a more personal approach to the business. It all reminds me of how I started in the business 10 years ago. More Peoplework and less Paperwork.
And it's working.
My company just finished its best July sales performance EVER. As far as I'm concerned we've already started a trend. Some will argue that a month does not a year make. And they would be correct. But don't bet against me.
In closing, how much time are you spending on Paperwork versus time spent on Peoplework? If it's the former, how's that working for you?
Two years ago, my business was more about Paperwork than Peoplework. I think about the mindboggling number of hours spent studying reports and financial statements and cash flow diagrams and employee evaluations. I think about the amount in time spent in MEETINGS!
No more. At least it won't be as much.
Recently, I've been spending more time away from the office and in the field - in the trenches. I've been meeting with homeowners, touring the home sites with prospective buyers, inspecting homes with warranty claims - taking a more personal approach to the business. It all reminds me of how I started in the business 10 years ago. More Peoplework and less Paperwork.
And it's working.
My company just finished its best July sales performance EVER. As far as I'm concerned we've already started a trend. Some will argue that a month does not a year make. And they would be correct. But don't bet against me.
In closing, how much time are you spending on Paperwork versus time spent on Peoplework? If it's the former, how's that working for you?
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