Bernice Ross of RealEstateCoach.com lays down the law on how to close more sales, and it’s the Law of Three. When you offer a client options, give them three choices and three only, she writes in an article for Inman News.
“The Law of Three is a widely used sales strategy that assists clients in arriving at decisions more quickly,” the CEO explains. “When there are more than three choices, the consumer becomes confused and often walks away without buying anything.”
She cites practical examples in the real estate business:
◼ If possible show house hunters three homes at a time, not six or 12.
◼ When you end up showing multiple areas or homes, ask buyers to rank their top three.
◼ If they find a fourth choice they like, ask them which it replaces on the top three list.
Bernice also suggests applying the Law of Three on the Internet to cut down on clutter. Focus on delivering the three things consumers want to know about: properties for sale, the value of their own homes and community info. Note that property photos are exempt from the law. A listing needs more than three of those.
Otherwise, it pays to remember: “Too many choices can kill the sale.”
Got homeowners teetering on the very brink of listing but not quite ready to commit? There’s a strong case to be made for going ahead.
Rick Munarriz of investing website Motley Fool offers homeowners four good reasons to sell now:
◼ Mortgage interest rates are still low but likely headed up
◼ Existing homes are selling quickly
◼ Houses stand out in a relatively uncrowded market
◼ You can lock in a low interest rate on your next place