5 Pillars for a Successful Presale Launch

First impressions set the tone in real estate deals. Buyers walk in tense, but clear processes can ease that. For every launch, there are five key pillars that can guide teams through preparation and execution for better outcomes. These pillars allow teams to build trust by providing transparency into the buying process, while keeping timing light to avoid losing momentum. Let’s dive into them below.

Pillar 1: Map Out Your Launch Timeline

Launches can take several weeks of steady work. This includes covering crucial steps such as internal setup, tool configuration, and testing before going live. This is also the time to identify outside risks like market shifts that can impact your launch, and planning ways to mitigate them. Mapping out your timeline can be broken down into three key points:

1. Divide the timeline into clear stages: Dedicate the first week to gathering contract files and defining project details, then shift to configuration and initial tests in the second week to catch gaps before buyers arrive.
2. Set firm checkpoints: Review all documents and setups midway through prep to spot errors, like mismatched pricing or incomplete disclosures, and fix them well before sales start.
3. Build in buffers for risks: Schedule team huddles to agree on deadlines and backups, so if market changes hit, your internal setup stays solid and adaptable.

Pillar 2: Nail Your Internal Processes

Establishing the key details on your project is crucial to do before anything else. This includes identifying what your key differentiators against other competing projects in the market, who your target demographics are, as well as standardizing elements like deposits and incentives to keep things consistent. 

• Build product knowledge: Anticipate common questions and timelines that prospects will inquire about and have answers ready for them.
• Standardize offerings: Set rules for credits, commissions, and upgrades, reducing the risk of discrepancies occurring between purchasers.
• Handle legal files: Make sure documents work well with your systems, using flexible formats where possible.

Pillar 3: Configure for Efficiency with Your CRM

Once you have an understanding as to who your ideal customer personas (ICP) are, it’s crucial to match your tools to fit real buyer needs. It’s especially important to have different approaches prepared based on your different personas, for example having different approaches for investors than families. 

• Ask key questions: Ask yourself if your timelines fit the buying plans of your ICPs and subsequently if any changes are necessary to fit them better.
• Set up the basics: Define your deposits and commissions in the system to ensure standardization.
• Train the team: Have practice sessions with your team to ensure that they are knowledgeable and proficient in your sales tools and systems in advance of the sales launch.

Pillar 4: Test and Roleplay for Readiness

Running through possible issues ahead of time can make all the difference in having a smooth sales cycle, allowing your team to identify and fix weak spots.

• Cover scenarios: Create practice scenarios and sessions that simulate a real sales cycle. Review results and identify any areas of improvement or sudden scenarios that could arise, such as last minute changes or extra buyers. 
• Make adjustments: Based on results of your testing, make the necessary changes to improve the buying experience. Attempt to eliminate barriers or conditions that would slow down the sale. Using a blank addendum would allow for flexibility and on the fly changes.
• Get input: Have your team test signing and data flow processes as if there were a buyer. Get everyone’s input on how this can be improved for actual buyers.

Pillar 5: Execute and Follow Through on Launch Day

Once project sales have launched, keep operations running smoothly by using your system to track statuses and communicate.

• Manage flow: Updating units and holds in real time is important to ensure data is accurate. Having a sales tool that can be a single source of truth, like Spark, is an extremely valuable asset to make sure your team is on the same page.
• Focus on buyers: Ensure that the options presented to potential buyers have no ambiguity and provide clear steps forward.
• Support the team: Identify if there are any areas where your team is falling behind and provide the necessary help where needed for better results.

Wrapping Up

Overall, the five pillars necessary to support stronger launches are timelines, processes, configuration, testing, execution. Ensuring that your team is proficient within each of these pillars will set your project up for success and allow for more deals with less mistakes.