Does getting an objection strike fear throughout your core?
Does it stop you in your tracks?
Does it throw off your presentation?
The way I see it, getting an objection simply means the other party is engaged and considering your offer. Therefore, take the hint — they’re giving you an opportunity to move one step closer to a “yes.”
Especially when you know what to say and how to say it.
In the video above, one of my salespeople and I “role play” five of the most common objections you hear from buyers and sellers. I created this video so you can see two things clearly: how to practice effectively, and to learn exactly how to overcome these oft-heard objections.
To master these objection handlers and access even more valuable scripts, I invite you to download my “Dialogues for Breakthrough Conversations” script book, which is included in our free List & Win bundle.
Objection number one: “I have a friend who said they would do the same thing for a lower commission.”
The goal here is to demonstrate that their “friend” most likely is not as qualified as you, and therefore may not be able to generate the type of results the client desires.
Start by asking for the other agent’s name.
Then compare track records in real time using Zillow or MLS data.
Demonstrate how you “fight” for your clients’ best interests.
By the way, if they won’t divulge the other agent’s name, just focus on your differentiators: list to sale price, number of transactions closed, or other advantageous stats.
Objection number two: “We had a specific number we wanted to get for our house.”
Start by establishing that what they “want” doesn’t really matter. Educate them that price is based on market conditions and every buyer is trying to get the best deal possible.
Define your role as providing exceptional marketing to create a bidding frenzy.
Use my three-option pricing strategy to get the homeowner to list at a lower price.
Watch more related to sales strategies from Tom Ferry:
Objection number three: “We’re just not ready to pull the trigger. We need some time to think about it.”
Begin by stating that whatever they want to do is fine with you… you’re simply there to serve.
Follow-up with questions from a consultative perspective. Ask what, specifically, they need to think about.
Talk about timing; Show why it can be advantageous for them to act now. Provide solutions without putting pressure on them.
Objection number four: “I like you, but I promised to interview more agents.”
Start by making it clear that you’re not asking them to break their promise.
Ask them to drill down and explain specifically what they’re looking for in an agent. Then compare that with what you can provide and close by asking this question: “If there isn’t anything different, why waste time?”
Never diminish the other agent or throw them under the bus.
Offer to call the other agent out of professional courtesy on the client’s behalf.
Objection number five: “We want to wait until after the holidays.”
The objective here is to calm the seller’s fears by giving them the option to sell now and rent the property back until their desired date to vacate.
Then explain the concept of making their home a “pocket listing” and how you’ll begin generating excitement. Be sure to convey to the homeowner that they are in control of any showings, etc.
Remember: knowledge equals confidence. Ignorance equals fear.
The more you learn, practice and master these objection handling scripts, the more confident you’ll become and the more any fear will dissipate. So grab a friend and start role playing!
And for even more objection handling scripts, make sure to get our Real Estate Scripts Bundle. It’s free and will help you win more business!