How to Overcome the Top Three Objections in Real Estate
The sooner you begin using them, the sooner you, too, will achieve those same kinds of results.
NOTE: In some cases, the best response may be to back off, do a brief take-away, and leave the call strong. That is also a top 20% technique, and top reps know when to walk away from a prospect and still keep the control and power in the relationship.
Objection #1: "I'm going to try to sell it myself."
"Some people do try and do that at first, and in a seller's market that works about 25% of the time.
In a market like today, though, well I guess it's theoretically possible, but the odds are really stacked against you.
I'm assuming you're going to advertise it in the paper and then do some open houses? (If yes):
You know _________, I don't want to discourage you, but what you're describing is passive marketing. Unfortunately it's what a lot of people in your position do and they end up losing a lot of time and money and hiring an agent in the end anyway.
_________, smart sellers put me to work for them in the beginning because I do what's known as active selling. That means making 50 or more phone calls a day to lists of buyers and contacts in my database and using the contacts of other agents in my office.
It's why my closing rate on homes is over (80%) even in today's market. When you think about it, isn't that the kind of success you're looking for, too?"
(If Yes - schedule an appointment).
(If No): "I understand, and I want you to do what's comfortable for you. Let me ask you a question: If you need to reach out to an agent down the road for any reason, could I be the first one you call?
Great, then grab a pen and write my number down where you'll have it handy. (Try for control here to see if they are real - then give them your information. Then ask):
I'll also follow up with my other contact information. Where should I send that?"
Objection #2: "We're not ready to buy at this time, we're just looking."
"I can understand that, and I know you'll keep looking until you find something that's just right for you, won't you?
Well that's what my job is - to help you look until you find the right house or situation for you. Have you ever done any house shopping before?
(If Yes): "Then you know it can take quite a while to find just what you are looking for - which is why it's important to always be on the lookout.
Let me ask you a question: If I kept my eyes open for you and actually found just what you were looking for, when would you be in a position to move on it?
If not for a long time or "don't know," then do some probing and ask questions like:
- Are you committed to moving into this area down the road?
- What is your realistic time frame for that?
- Would you like me to contact you when I find something that meets what you're looking for?
OK, one last question: when you are ready to seriously start looking, could I be the first agent you call?
Great, then grab a pen and write my number down where you'll have it handy. (Try for control here to see if they are real - then give them your information. Then):
I'll also follow up with my other contact information. Where should I send that?"
Objection #3: "What's your commission? That's too high! So-and-so will do it for less." (Variation: "I don't want to pay full commission.")
(Note: This objection usually follows a weak presentation or perceived weakness on the part of the agent. Many buyers will attempt to test you with this objection. Your job? Remain strong and use the script below.)
"_________, the only agents who cut their fees are the desperate ones who also cut the price of your home at the negotiation table. I don't do either.
I work 12 hours a day for you and my assistants work 10 hours or more to find the right buyers and negotiate the best deal for you. I don't compromise on my service, and I don't sell your house short.
That's the kind of agent you want representing you, isn't it?"
(If No): "OK, I will respect your decision on that. If your house doesn't sell, or if you're not happy with the results, can I be the first agent you call?
Great, then grab a pen and write my number down where you'll have it handy. (Try for control here to see if they are real - then give them your information. Then:)
I'll also follow up with my other contact information. Where should I send that?"
BONUS REBUTTAL!
Objection #4: "Selling is a big step and we need to give this more thought. But if you have potential buyers, bring them by." (Variation: they want the agent to present a ‘verbal offer.')
"___________, selling your home is a big step and you should think about it. The last thing you want to do is waste your time entertaining low-ball offers, or leading people on waiting for an offer that's never going to come…
Believe me, if you knew the kind of time and effort that's required to bring qualified buyers to your home you'd understand why nobody is going to do that for you until you're absolutely ready.
Now, when you do decide you're ready to move forward, then I've got a marketing strategy and a marketing team that will be ready to move into action for you. Realistically, when do you think that would be?
(If, "I don't know, or, if I see an offer I like then I'd move one it" then):
__________, I don't work part time. Some agents might, and with them you'll get a part time result. It'll be a long, drawn-out process with ridiculous offers that will just frustrate both of you. I'm sure your time is more valuable than that.
Let me ask you up front: If I had a qualified buyer who would pay a good market price for your home, would you sell today?
(If Yes): Great. Because that's my job. Here's what we need to do to get that qualified buyer to you…." (Get them to sign the listing agreement!)
