As you may know, Christy Crouch and me, Scott Friedman, the co-founders of You’re The Difference Sales and Life Coaching, along with our co-author Donna Fleetwood, have written a book of over 425 real estate objection handlers for over 70 different objections you can get in real estate sales called Now What Do I Say?.
So, from time to time, I thought we’d do some objection handling in this blog space. We may, or may not, excerpt the book here, however we will definitely share some proven objection handlers.
So, the first thing I want to cover is: what is an objection? I’ve heard the term all my sales career, however it may not be a term you’re familiar with. You may not realize that what the prospect or client is saying or asking is considered an objection.
So, our off the cuff definition of an objection is: a question or statement from a client or prospect that, if properly answered or handled, can lead to an appointment or a signed contract.
So, if you’re on a listing appointment and the seller asks you to cut your commission, that’s an objection.
If you take a sign call and you try to get the buyer to come into the office and they say they want to work with listing agents only, that’s an objection.
And the list goes on. I believe our book has 73 different objections, and we know there are more.
Now, there are two important things to know about objections:
1) You need to know when and when NOT to handle them – For example: if a potential seller wants to talk commission and you’re not on the listing appointment, you will most likely not get the appointment, and certainly not the listing if you choose to try to handle that objection over the phone.
2) You need to know the difference between an objection anda condition – A condition cannot be answered or handled properly. A condition cannot be “gotten around.” You cannot solve someones condition. For example: simply put, you cannot sell a 3 bedroom home to someone who told you they have to have a 4 bedroom home. I know that sounds silly, but you’d be amazed at how many salespeople try to put clients into things they don’t want.
Another example of a condition is someone who won’t move until their child gets out of high school. Good news for you if you called on June 1st of Sally’s senior year. Not so good if you called in the middle of her sophomore year.
Or, if they simply cannot afford to do what needs to be done, that’s a condition, even if it’s in their minds. They might be pre-qualified to $500,000, but if they have a budget for $400,000, you won’t convince them to spend more money than they think they can afford. Likewise, if a seller absolutely needs to take $200,000 out of the house, and the list price should be $199,900, that’s a condition…unless you want to eat your commission, and the other agent’s, as well as pay for their closing costs.
Okay, I think you get the idea.
Now, I have to tell you that in our book, our courses and our live events (Princeton, NJ – July 22nd is the soonest one, along with Richmond, VA in August and Seattle, WA in September) we talk a lot about the secrets of objection handling and the mindset needed to properly handle objections.
So, it’s not just What to Say, it’s also How To Say It. And it’s your frame of mind when you’re saying it.
So, all that aside, here are just the words to a couple objections (these are NOT from the book)
We want to list high and come down during negotiating.
I understand, and what it sounds like to me is that you don’t need to sell very quickly, is that right? (No, we need to sell right away.) Great, so if you want to sell right way, then you simply need to price your home to sell, or you can do what your competition is doing and sit and wait for someone crazy enough to make an offer on an overpriced home in this market. Which is better for you?
We want to find the house we want before we list ours.
Okay, great! And are you prepared to lose that house? (What do you mean?) Well put yourself in the seller’s shoes, since you’re going to be there anyway when you list your house. If someone made an offer on your house, and it was contingent on selling their house, would you even entertain the notion of accepting that contingent offer in this market where financing is hard to come by if their house wasn’t even on the market yet? (Well, I guess not) Of course you wouldn’t, so how can you expect a seller to do that for you? Let’s do the right thing and get you on the market and under contract. You already know there are tons of homes for sale, so you’ll undoubtedly be able to find the one you want when the time’s right…isn’t that what you want?
Yes, we’ve used these. Yes, they work.
And if you want to hear how they’re supposed to sound, and learn all sorts of things like:
-The 2 Secrets To Handling Objections That Will Have You Actually Hoping To Get Them
-How To Generate Your Own Personal Confidence On The Fly
-The Secret To Clients Choosing You Over Your Competition
-How To Immediately Sound More Authoritative and Powerful
-How To Gain Instant Rapport With Anybody
-How To Immediately Do More Deals
-How To Handle Objections With Ease
-NLP (neuro-linguistic programming) Language Patterns Used By Top Salespeople
And much more….
Then get yourself to our next live one-day event in Princeton, NJ on July 22nd!