Fall is here, and along with the chill in the air, there’s also a sense of uncertainty. We’ve had some very interesting months this year, and the fall season will be no different.
Due to social distancing regulations, it’s becoming harder to deal with buyer objections. That’s because in times of crisis, more clients express their concerns, and as a result, it becomes harder to close deals.
In order to overcome this obstacle, you’ll need to learn how to handle these objections. The key to that confidence? Objection handlers, which are exactly what we need to improve our ability of articulating the true value of what we can offer — which, in turn, increases conversion percentages.
To put it simply, objection handlers are essentially answers to the most common concerns and excuses clients have for not wanting our services or a hesitation to meet with us. They will mostly come after the client wants what we have, but a few do come earlier.
Typically, these objections are actually a sign that there’s a lack of value offered, but a lot of agents confuse them with legitimate reasons. So, objection handling is the art of determining if the client’s excuse is legitimate or not.
A legitimate or real objection is something you can rarely overcome. Like, if the client truly doesn’t have time to meet with you, and you’re unable to say anything to create more time. However, you might still be able to add value to the offer so the client is more willing and motivated to find time. Here, you’ll find three most common buyer objections you need to know how to overcome this fall.
1. ‘I don’t have time … ‘
In a time like this, we’re likely to talk to people who think they can’t find time to meet or speak with us. Whether they’re telling the truth or just overthinking their schedule, you need to offer them legitimate value and show them the benefits of working with you.
Start by agreeing with the buyer and explaining that you’ve designed a program for busy people just like them. Now more than ever, you need to have a simplified and shortened process that only takes your buyers a few minutes now, but saves them hours when they start looking for their next house.
Then assume that the prospect has no other reason not to move ahead, and offer a time to connect for the next step. Say something along the lines of, “What’s better for you — weekday afternoons, evenings or weekends?”
2. ‘I need to consult with … ‘
If your buyer needs the approval of their spouse or others before deciding, then figure out the concerns or objections of the third party, and address them while you still have the original buyer with you.
Set a tentative date and time that will work best for both parties, and give a call to the buyer the day before to make sure that it still works. This will give the buyer a chance to speak to their spouse. Also, this way, they don’t have to call you back. You’re in control, and you can pick up the phone and call them.
Again, the best way to deal with such objections is to ask questions, assess that situation (i.e. do they really need to consult with someone else, or are they just using the authority figure as an excuse?) and react according to your assessment.
3. ‘I don’t want to waste your time’
Like I mentioned above, uncertainty is in the air, and now, we’ll be facing this objection from buyers who don’t want to waste our time more often.
Tell the buyer that you appreciate their concern for wasting your time, but they should understand that this is your business. Explain that you help people make informed, quality decisions about real estate.
Let the buyer know that you never consider helping and offering value a waste of your time. Reinforce this point by telling them that, in the past, you’ve worked with people for a year or more before they found the right home.
All objection handlers
Dealing with buyer objections is frustrating, but experienced real estate agents should have answers for all buyer objections. If you want to be better prepared, remember these three key rules.
- Agree and have empathy for where the potential client is coming from.
- Turn the objection, in part or whole, to a legitimate solution for the potential client.
- Assume that there’s no other reason not to move ahead, and ask when would be a good time to talk or meet.