ROLE-PLAY

This role play will give you experience in using strategic pricing to maximize profits selling a house. For this role play, half of your group should be real estate salespeople. Each salesperson should pick an actual home he or she is familiar with and develop a price at which to sell the house. The salespeople should look at what price similar houses have sold for in that community and do additional market research online to make sure they are providing value to the customer. The salespeople should also highlight reasons why the potential buyer should purchase this specific house.

The other half of the group will be the current or prospective home buyers looking to move to the community where the salespersons house is located. Each buyer will hear the sales presentations and can make an offer to buy the house based on the market and what they are willing to pay. The salesperson can present a counter-offer from the homes (hypothetical) current owner. The buyer will decide if he or she wants to purchase the house, and if so at what price.

At the end of the role play, both the salesperson and the buyer should reflect on what parts of the sales presentation were most effective in leading the buyer to pay more or less for the home.

Post role-play reflection

As you evaluate the role-play, it is important to reflect on their areas of strength and areas needing improvement. You are encouraged to keep working on improving your skills. These questions will help and each group should answer them:

How was the meeting opening? Was it difficult to establish rapport?

Did you meet the objectives in needs identification? Do you have a good understanding of the problem? What was the best question you asked?

Did your presentation and/or slicks provide insight on how to address the specific problem(s)? How did you involve participants?

How did you feel about the objections that were presented? Is there another approach you could have used?

Were you persuasive in presenting a reason to commit or sign a contract? Did you ask for the appropriate next step?

How were your body language and verbal speaking skills? Did you practice effective listening skills throughout the meeting?

What else do you need to learn about the prospect or your product to increase your confidence in the next sales meeting? What items would be natural in following up? What will you prepare for the next meeting?