Choosing a retirement community can feel overwhelming for your prospects, especially when it comes to Life Plan Communities (also known as Continuing Care Retirement Communities, or CCRCs). One of the main reasons why is because people want to have confidence that their first choice will be the right choice. The fear of the unknown often leads to delays in making a decision—sometimes indefinitely—posing a significant challenge to achieving success in senior living sales.
Here are just a few questions that your prospective residents may grapple with, even if they don’t convey them to you:
- How do I know I’ll be happy here? It seems great but what if I move in and later learn that it’s not a good fit for me? I don’t want buyer’s regret, especially with a big life decision like this.
- What important details am I missing? What things do I need to know now rather than finding out after I go through the entire process of selling my home, making the move, paying the entry fee (if applicable), etc., etc.?
- What do I need to understand about the residency contract? What are my rights as a resident? Are there any additional fees I should know about?
- How do I know your community will be there for the long term? What assurances can you provide that your community will prioritize prudent financial management?
- I know you offer a full continuum of care, but are there certain types of health conditions or situations within the continuum that you are not equipped or staffed to handle? Are there unique situations where I or my spouse/partner would need to go elsewhere for care?
- I’ve read about many of the different financial and contract models offered by retirement communities and CCRCs. All the choices and terminology are confusing. What do I need to understand about your financial model and how it compares to others?
- How can I be sure your community is a good financial fit for me over the long-term? It seems like a lot of money. How will this decision impact my estate and the amount I might leave for my kids or grandkids?
> How to help prospects learn whether your community is a good financial fit.
No matter how beautiful your community, how great your staff, or how unique your community is from other options in the area, if the prospect doesn’t have clear answers to the above questions, they may never have the confidence to make the move.
Education and knowledge are key to senior living sales success… for you and your prospect
Long gone are the days when selling features (“feature dumping) is enough to win new residents … if it was ever enough. Today’s prospects want to be empowered to make a confident decision. And confidence comes with education and knowledge.
Therefore, today’s senior living sales and marketing professionals must be students of the industry and be prepared to give meaningful, transparent answers to the questions above, in addition to other helpful information. Of course, if you feel that your prospects may not like the answers you give to any of these questions or find that you avoid discussing some of them, it may be a sign of a larger problem that needs to be addressed at the organizational level.
Clear and concise communication
Being knowledgeable about your community is only part of the solution to unlocking more senior living sales success. It’s equally important to clearly articulate necessary information and answers without further confusing your prospects. Salespeople are notorious for giving long-winded answers, going off on tangents, and providing details that are not directly relevant to the question. This causes more harm than good.
Also, keep in mind that some of the terminology you use every day may not mean anything to your prospects. Don’t assume they understand what you are talking about when you use terms that are common among your team and other industry professionals. The addition of the phrase “Life Plan Community” as a replacement for the more traditional “Continuing Care Retirement Community” makes it all the more confusing for prospects. Increasingly we’re hearing representatives of Life Plan Communities refer to themselves as Lifecare, even though they do not offer what many traditionally think of as Lifecare. In turn, this has lead other sales and marketing teams to begin referring to their contract as “true Lifecare.” I’ve also heard other representatives refer to their Lifecare contracts as true Life Plan. Not to mention equalized rates, modified contracts, etc. Can you imagine how confusing this all must be for prospects!
> Learn how myLifeSite’s content resources can help educate your prospects
Being a valued resource for prospects
Lastly, being a trusted resource for your prospects is more important than ever. Few people truly understand all the ins and outs of senior living, especially when it comes to Life Plan Communities. With so many different senior living options available, your prospects are searching for reliable information and guidance, but often have trouble finding it.
Naturally, many of your prospects will view you as a biased party to the decision. That’s understandable because your job, after all, is to keep occupancy high at your community. But your job is also to be the best and most knowledgeable resource for your prospects, sharing objective resources and tools that help inform the decision process. By doing so, you’ll ultimately achieve more senior living sales success because your prospects won’t feel the need to go elsewhere for information, which may or may not be accurate.
In summary, choosing a retirement community is a significant and often overwhelming decision for prospective residents, especially when considering a Life Plan Community/CCRC. To help prospects move forward with confidence, sales and marketing professionals must go beyond showcasing features and amenities. By addressing common concerns—such as financial fit, long-term care options, and contract details—through clear, concise communication and educational resources, you can empower prospects to make informed decisions. Serving as a knowledgeable and trusted resource not only builds credibility but also ensures that prospects feel supported throughout the decision-making process, ultimately driving success in senior living sales.
