Those who are looking for a house will not buy a ‘cold’ property. The buyers would want to check out the house, examine it, ask questions and make sure that the property is the one that they are looking for. Thus, it is important to present your property in P.O.M.P or Positively Overwhelming & Memorable Performance.
Serious buyers always make a thorough inspection of the house before they give an offer to buy it. They would even employ the services of a professional house inspector to look over the house and see if it is stable and in good condition. Thus, when you are selling your property, make sure that the property is presented in a Positively Overwhelming & Memorable Performance.
Most buyers know what they want in the design and structure of a house. They have a specific idea in mind that helps them decide whether they like the house or not. The POMP must be centered on these issues that can assist them in deciding whether a property is right for them or not. You should see your property in the eyes of the buyer. Buyers are more observant regarding the actual state of the property. Thus, you should utilize the perception to benefit you.
The POMP is divided into 5 stages and addresses several vital issues to close a sale successfully.
Phase One: Preparation
What should you do to your property so that it can attract potential buyers ?
Your home should draw buyers towards it. The property should look inviting and have a comfortable environment which would want the buyers to live in the property as soon as possible.
Phase Two: Inquiring
Discover what your buyer wants and needs. The decision of buying the house depends on the personality of the buyer. Knowing this can give you an edge in your argument as to why your house is superior to all other houses up for sale. Try to probe into what they are truly feeling and what they want to accomplish. Check if they fit the criteria of being a F.R.I.E.N.D.
Finance: Do the buyers have the financial capability to buy the house?
Responsiveness: Are they willing to negotiate and compromise?
Inclination: Does the house fit what they had in mind?
Eligibility: Does the buyers requirements and needs meet with the property?
Needs: Are their needs and requirements met?
Decision: Are they in the position to decide?
Phase Three: Presentation
What should you do to persuade the buyers to buy the property ?
Make the buyer fall in love with your house. This is accomplished by your presentation of the house. It is also advised that you act “invisible” to them while they inspect the house to give them a feeling of “privacy” and become comfortable with how they feel about the house, and eventually fall in love with it..
Phase Four: Prevention
What is it that stops the buyers from buying your property ?
If the buyers are interested in your property then they would give their opinions (positive and negative) on the structure of the house. They will also ask questions so if you see they the buyers are not asking or commenting much then they are not interested in your property. If you see that the buyers are worried over some aspects of the house then you should try to prevent them from worrying so much by clarifying things. Try to apply the strategy of 3Ps. Pre-empt the buyer’s possible concerns before meeting them. Prepare your response and potential solution. Proactively respond to their concerns. And you will one step closer to closing the property.
Phase Five: Position
When can you do to make the buyers believe (reason) and feel (emotion) that your property is the best ?
Get some research on the price and condition of other properties in the neighborhood that are also on the market. You will do well to remember the words of Sun Tze, the famous military strategist, ‘Know your enemy…’ Why? This will give you an edge in your selling tactics and presentation of your property. It will also allow you to see how much is the going rate for these properties and you can do a comparison of these properties to assure your clients that what you have is superior to others. After convincing them, you are ready to conclude the sale.