From Cost to Value: Shifting the Mindset of a Homeowner
Let’s set the scene. You’re sitting in a prospective client’s home and they’ve just walked you through what their dream kitchen renovation plan entails. The homeowner hears the job estimate and, suddenly, the dream is over, reality sets in, and the objections start coming. What can you as a contractor do in this situation to help ease their concerns and close the deal? Here are some talking points to help shift the focus from the cost of the job to its value.
Protect Your Investment
Your customer’s home is most likely the biggest purchase they’ll make in their lifetime. That’s why it’s so important for them to invest in their property through proper renovations and repairs over time. This can include necessary repairs to keep the home safe, such as a roof repair, or something more cosmetic to keep up with home values, like a kitchen update. Remind them that not spending the money for these repairs/renovations now can affect the home’s resale value later or lead to additional problems down the road.
Do It Right, the First Time
Let’s face it, renovations are messy. No matter the size, the disarray always seems to take over the entire house. With projects sometimes going weeks or even months over schedule, many homeowners may think they’ll never do that again. However, when they scale down a project, homeowners may end with a result they’re not happy with, having to go through the entire renovation process again. Research indicates that over a third of homeowners regret having not spent more on their projects to get what they really wanted. Doing things the right the first time can help your customer save time, money, and additional stress in the future.
Use Experience and Know-How
Once they know the price, the customer may have additional questions, concerns, or objections. You may notice, after a while, that there are similarities with the issues brought up by homeowners. Make a list of these common concerns and have an honest and complete answer ready for them. By mentally preparing for these situations, you sound confident, knowledgeable, and trustworthy right from the get-go. This may be the thing that gives you the edge and convinces a homeowner to hire you for the project.
Payment Options Are Available
By mentioning payment options, you can more easily overcome these objections and shift the focus from cost to value. Offering customers payment options during your initial sales pitch may be one of the easiest ways to boost your close rate and increase project sizes. Offering a Same-As-Cash loan and a low monthly payment option to potential customers may help take some of the stress off of how they’re going to pay for a project and be enough to seal the deal. For the past 20 years, we’ve offered a wide array of trusted loan options, giving your customers the flexibility, convenience, and ease needed to get the home improvement project that they really want.