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Fractional Trade editor George Sell reviews Fractional Vacation Homes: Marketing and Sales in challenging times, by David M Disick

David Disick (pictured left) introduces his book on fractional sales by quoting the mountaineer George Mallory, who replied “Because it's there,” when asked why he wanted to climb Everest. Disick says he wrote this book because “it isn't there”, and he felt there was an urgent need.

I think he's right. The vacation real estate industry is looking at fractional ownership as an increasingly attractive option right now, as whole ownership sales remain in the doldrums and consumers remain extremely cautious about discretionary spending.

The problem many property professionals have is that they only have a vague idea of what fractional ownership is, and still less of a clue about how to sell both the concept and the end product to their customers. They like the sound of it, but need to be guided through the concept, from definition through to the sales closing process.

And who better to act as Sherpa than Disick, a former Wall St attorney, pioneer of the private residence club industry and the man who led the development team of the Franz Klammer Lodge in Telluride, Colorado?

The book opens with a look a the effects of the recession on the vacation home market, and a brief history of fractional real estate in the US, before detailing the various types of fractional ownership and their benefits to both buyers and developers.

Chapter two looks at marketing methods, touching on website optimisation, email marketing, referral programmes, direct mail, strategic alliances and more.

But it is in chapters three and four – titled Relationship sales of fractional vacation homes to an affluent clientele, parts A and B – that readers will strike gold. These chapters will not only be valuable to fractional newcomers, but to seasoned industry veterans, as Disick goes into invaluable detail on how to progress the transition from relationship marketing to relationship selling.

These chapters cover topics such as stimulating buyer urgency, common mistakes made by sales agents, the importance of dialogue and empathic listening, and effective closing.

This last element is backed up with 19 closing scripts which offer reasoned, empathic responses to common buyer objections and hesitations. These scripts offer a wealth of knowledge and insight to the psychology involved in selling to high-net worth buyers, and should be read by every sales professional in the industry, from the newest blood to the oldest of hands.

Disick deserves the thanks of the industry for publishing this book, and putting these invaluable scripts in the public domain, where they will surely result in increased sales of fractional property.

David Disick is also a regular contributor to Fractional Life.com and Fractional Trade.com, where you can read a selection of his articles. He can be contacted at ddisick@msn.com