Recent Building News Require Action!

February 26, 2010 by Shirleen Von Hoffmann Leave a reply »

February 25, 2010

Is it me, or do recent economic reports have something in common?

“U.S. Jobless Claims Rise Unexpectedly” (Associated Press)
The number of newly laid-off workers filing applications for unemployment benefits in the U.S. unexpectedly surged last week after having fallen sharply in the previous week. The gain dampened hopes about how quickly the labor market may improve this year.

“U.S. Economy: Equipment Demand Slows to Start 2010” (Bloomberg)
Orders for durable goods excluding transportation unexpectedly fell 0.6 percent, the most since August, while a measure of bookings for business equipment showed its biggest decrease in nine months, the Commerce Department in Washington said.

“New Home Sales Hit Record Low, Prices Tumble” (Reuters)
Sales of new homes unexpectedly fell to a record low in January while demand for loans to buy homes hit a 13-year low last week, fanning fears of renewed weakness in the housing market.

“Consumer Confidence in U.S. Falls More Than Forecast” (Bloomberg)

Confidence among U.S. consumers fell more than anticipated in February to the lowest level since April 2009 as the outlook for jobs diminished, a sign spending may be slow to gain traction as the economy recovers.

“Economic Indicators Rise Less Than Expected, Mixed Open” (Marketplace)
The Conference Board reported that its index of leading economic indicators rose in January, but the gain was smaller than expected.
“Consumer Sentiment Index in U.S. Declined in February” (Bloomberg)
Confidence among U.S. consumers unexpectedly fell in February from a two-year high, signaling Americans may not be convinced the job market is turning around.
The Reuters/University of Michigan preliminary consumer sentiment index dropped to 73.7 from January’s 74.4. The measure averaged 88.9 during the economic expansion that ended in December 2007.

“Businesses Slashed Wholesale Inventories 0.8 Percent in December, Weaker Than Expected Showing” (Associated Press)
Businesses slashed wholesale inventories sharply in December, a much weaker showing than had been expected.
The Commerce Department says that wholesale inventories were reduced 0.8 percent in December. Economists surveyed by Thomson Reuters had expected inventories to rise by 1 percent during the month.

“Instant View: ISM Services Index Below Forecast in January” (Reuters)
The U.S. services sector grew less than expected in January, according to an industry report released on Wednesday.

Just wondering: After weeks of headlines like these;

  • Shouldn’t this sort of news be expected by now?
  • Shouldn’t we have changed our selling habits to maximize the prospects walking n the door?

And this is just from one day of news as a Sales Agent, it might make you want to really spend time with prospects and get to know them and their needs by building rapport and walking them through the models . Most of all you would think it would make you want to follow up with them when they left.

But studies show, 65% don’t follow up. Odds are even higher in San Diego where a study was done and only 2 out of 50 communities walked the prospect and 4 out of 50 bothered to follow up.

During this tough market and with the low traffic numbers the cost to walk one prospect in the door has sky rocketed.

You must be sure you are maximizing your time with these prospects.

Check out our training CD’s that teach Agents these topics and so much more!

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One Response

  1. Del Barbray says:

    There is no excuse for a sales person not to get to know their prospects, ask the right questions, walk them through the models, find out what problem the prospect is trying to solve by looking for a new home and then show the prospect how the sales person’s new home that the prospect is looking at will solve the prospect’s problem in this market with all of the negative news that we are all bombarded with.
    This is a good article and good advice for all of us.
    Keep up the good work.
    Thank you

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