Sales are an important part of almost every business, and they can be the deciding factor in whether a business succeeds or fails. Making a sale involves convincing someone to buy a product, service, or idea, and it requires a lot of skill and effort to do it well. There are many techniques and strategies that can be used in sales, and the most effective ones are those that are tailored to the specific needs and preferences of the customer.

Perhaps the most important skill in sales is the ability to listen to the customer. This involves paying careful attention to what the customer says, as well as their body language and tone of voice. By understanding the customer’s needs and concerns, a salesperson can tailor their approach to meet those needs and build a relationship with the customer. This requires genuine empathy and a willingness to put the customer’s needs above your own.

Another important aspect of successful sales is preparation. This involves identifying your target customer, understanding their needs and preferences, and developing a sales pitch that is tailored to those needs. You also need to be familiar with your product or service and be able to explain its features and benefits in a simple and compelling way. By doing your homework and preparing carefully, you can approach potential customers with confidence and win them over.

One effective sales strategy that many companies use is the so-called “scarcity principle.” This involves creating a sense of urgency by emphasizing that a product or service is only available for a limited time, or that there are only a few remaining in stock. This can help motivate customers to make a purchasing decision quickly, before it’s too late. However, this approach should be used with caution, as it can also be seen as manipulative and insincere if overused.

In addition to these techniques, successful sales also require persistence and follow-up. Even if a customer initially says no, a skilled salesperson will continue to build a relationship with them and try to understand why they didn’t make the purchase. By addressing any concerns or objections the customer has, and by offering additional information or incentives, you can often overcome their initial resistance and close the sale.

Ultimately, successful sales are about building relationships with customers. This requires honesty, transparency, and a genuine interest in helping the customer find the right product or service for their needs. By demonstrating that you are a knowledgeable, trustworthy, and helpful resource, you can build a loyal customer base that will return to your business time and time again.

However, the world of sales is constantly changing and evolving, and as a salesperson, it’s important to stay up- to-date with the latest trends and techniques. This means attending conferences and training sessions, reading industry publications and blogs, and networking with other sales professionals. By staying on top of the latest developments and sharing best practices with your peers, you can continually improve your sales skills and achieve greater success in your career.

In conclusion, sales is an art and a science. It requires a combination of interpersonal skills, marketing savvy, and strategic thinking to succeed. By focusing on building relationships with customers, preparing carefully, using effective sales techniques, and staying up-to-date with the latest trends, any salesperson can achieve great success and help their business thrive.

Did you know that certain events in Victoria can trigger “double duty” for builders? These events include nominations and land development, as well as parallel arrangements. It is crucial to understand the potential consequences of nominating your land contracts.

It is not uncommon for builders to purchase property and nominate substitute or additional purchasers before settlement. While nomination can serve various purposes, it’s important to be aware of the provisions in the Duties Act 2001 (Vic) that can trigger “double duty.”

Scenario:

Let’s imagine a scenario. Tim, a builder, often buys land, constructs homes, and sells them upon completion.

Tim purchases a vacant lot in a new estate in his personal capacity, but intends to complete the purchase under a new corporate entity he is setting up. Facing cash flow challenges, Tim decides to nominate Jake, a developer and his close friend, to step into his shoes and complete the purchase of the vacant land.

They complete the nomination form without any additional payment from Jake.

After settlement, Jake wants to begin construction immediately. He obtains a building permit and hires Tim, who provided the lowest construction quote, to build the home. They sign a domestic building contract.

Double Duty Implications:

Unbeknownst to both parties, Section 32B of the Act imposes duty on a sub-sale (nomination) when a vendor enters into a contract to sell property to a purchaser (in this case, Tim), and a subsequent purchaser (in this case, Jake) obtains a right to the property upon completion and provides additional consideration for that right (such as nomination).

According to the Act, additional consideration includes any consideration or value, even in the absence of a parallel arrangement.

For instance, if a “fee” is required for nomination as specified in Contract Special Conditions, additional consideration can be triggered.

A parallel arrangement refers to an agreement made by the subsequent purchaser or an associate within 12 months after obtaining a transfer right from the first purchaser. If the first purchaser or an associate is required to construct or arrange for construction improvements on the property, it is considered a parallel arrangement.

In our example, even though Tim didn’t settle the purchase or receive payment from Jake for the nomination, the Act deems that Jake has provided additional consideration through the parallel arrangement. As a result, both Jake and Tim are liable to pay stamp duty on the transfer.

Land Development and Double Duty:

Double duty issues can also arise when nominations are involved in conjunction with “land development” between the signing of the land contract and settlement. The Act defines land development as:

• Preparing a Plan of Subdivision;
• Applying for or obtaining a Permit under the Planning and Environment Act;
• Requesting a planning authority to prepare an amendment to a planning scheme affecting the land;
• Applying for or obtaining a permit or approval under the Building Act;
• Undertaking any land-related activity requiring a permit or approval under the Building Act; or Making changes to the land that enhance its value.

Using our example, any building permit issued between the contract date and the settlement date, even if neither Tim nor Jake had initiated the application, could be considered land development, potentially triggering double duty once again.

Avoiding Double Duty:

To avoid triggering double duty, it is advisable to follow these steps. First, as a builder, refrain from signing a contract for the sale of land as the owner. Avoid having your building entity sign the land contract.

If nomination is necessary, consult with your lawyer and seek legal advice before signing any nomination documents. It may be possible to negotiate with the nominee to provide an indemnity against double duty, ensuring they bear the brunt of the parallel arrangement provisions. In short, always seek advice on the consequences of nomination before proceeding.

By understanding the complexities of double duty and being proactive in seeking legal guidance, builders can navigate these challenges and mitigate potential financial repercussions.

For more information, consult our experts at Spectrum Lawyers & Consultants.

The team from Spectrum Lawyers & Consultants recently joined DJM and The Resilience Project for an enlightening afternoon on building resilience. With the construction industry facing tough times, the timing couldn’t have been better. This event not only provided invaluable knowledge but also offered a much-needed break from our daily challenges, allowing attendees to reflect on the importance of mindfulness and resilience.

The event took place at the magnificent MCG in the serene Jim Stynes Room, which provided the perfect setting for this memorable occasion. Attendees were treated to an afternoon of inspiring talks and powerful insights, starting with Collingwood’s Mason Cox. Mason captivated the audience with his candid reflection on his journey from Texas, United States, to the Collingwood Football Club. He shared the challenges he faced, including eye injuries and numerous operations that threatened his vision. Mason’s story exemplified resilience and showed that it’s possible to overcome even the darkest days.

Following Mason’s remarkable story Martin Heppell, representing the Resilience Project, took the stage to teach us the three pillars proven to cultivate positive emotion: Gratitude, Empathy, and Mindfulness (GEM). This presentation struck a chord with Donna, our Principal Lawyer, who sits on the Kulture City Board alongside Hugh van Cuylenburg, the Co-Founder of the Resilience Project. Given the industry’s current struggles, Martin’s talk served as a timely reminder to prioritise mental health and well-being.

The construction industry, like many others, faces significant challenges, with companies dealing with insolvency and other hardships. In such difficult times, it becomes critical to practice resilience and maintain a focus on mental well-being. Martin’s session encouraged us all to take a few moments each day to identify three things we are grateful for. While seemingly simple, this practice has profound effects on our mindset and overall outlook.

Thank you to DJM and The Resilience Project for inviting us to this invaluable event!

Spectrum Coach provides 5 core areas of service, Sales, Marketing, Operations, Home Designs and Business Coaching. They are designed to understand your business intimately, which allows us to provide the focused, dedicated support that we hold to high standards to all our clients. We understand that every business is different, and will have different needs. Choose one of our services or choose them all – whatever works for you and your business.

Sales

Without sales, you don’t have a business. Our training gives you guidance at a micro level, arming you with specific strategies that are proven to close sales.

Operations

Your front end and back end operations are key to turning a profit. From taking the initial sale to getting to a site start, we have designed processes that are easily adopted to improve efficiencies, increase profits and help you to manage your jobs more effectively.

Design & Drafting

Our extensive design library has a range of plans you can use to sell your new homes which are fully customisable. Our training will equip you with the tools you need to sell these plans based on their respective features and benefits. Need a custom design? We can do that too.

Marketing

You’re busy doing what you do best – building homes. Let our in-house team help you market your business so you can do more of what you love. We can guide you through marketing your brand, generating leads, and can even help you build a website. We can also manage your social media, including writing content and posting on your social media pages.

Business Coaching

We get it – running a new homes business is complicated. As the business owner, you have to be across every aspect, and not all of them are going to be your specialty. Our general business coaching gives you a team that are skilled in all areas of business, from construction to finance.