Five Scripts to Overcome the Most Common Objections in Real Estate
Can you remember a time when a potential client said something that completely stopped you in your tracks?
You know what I’m talking about…
Let’s say you meet with homeowners who were thinking of selling their home … and they ask you to cut your commission to 1% … what would you say?
Here’s the thing … you’re SUPPOSED to get objections in real estate.
In fact, top producers will tell you that they not only expect objections, they look forward to them!
The key here is to build your skills and learn the scripts necessary so that you can become BULLETPROOF and overcome any objection!
Here’s five scripts to help you overcome the most common objections in real estate:
OBJECTION #1: “Will you cut your commissions, other agents will?”
“You know, you’re right, there are a lot of desperate agents out there and I’m a little concerned … can I tell you why?”
“Do you own anything more valuable than this home?” (No)
“Could you say that it is your most valuable possession?” (Yes)
“If an agent is so desperate that they are willing to broadcast the fact that they don’t think they have value as a Realtor, then I’m confused.”
“Is that the type of person you want sitting across from the negotiating table trying to negotiate you a better price?”
“We are talking about a person who has already admitted that he or she doesn’t even see value in himself or herself.”
“Is that the type of person you want to represent you in the most valuable transaction of your life?”
“Good. If that was the case, then I should not even come over, considering I work 14 hours per day and my assistant works 8 hours a day to get your home sold and that’s very valuable…don’t you think.”
Note: the more conviction you have, the less you will get this objection.
In fact, your prospect will now begin looking for ways to exploit your weakness.
I would interpret this objection as your prospect telling you … I don’t think you have any value … so you better prove it to me.
“They may feel they are worthless.
If they will reduce their price at the listing table, what will they do at the negotiating table? I will be tough and professional on both my fee and the price, particularly at the negotiating table.”
“Commissions aren’t negotiable with agents that sell homes daily. They are only negotiable with the realtors who don’t believe in the service that they offer.
Now you told me you had to be gone in 90 days, right? You need a strong service agent that sells homes right?”
OBJECTION #2: “We still need to interview one more agent”
(Even after they promised you were the last)
This is not the real objection. They are saying to you … ”We don’t see why we should pay you money to sell our home … that’s why you should leave.”
We must flush out the real objection. Start like this:
“You know … I can appreciate the fact that you want another opinion, and the fact I was told that I would be the last agent interviewed only tells me one thing?”
“Can I share it with you?” (Yes)
“Somewhere, somehow, I have not completely convinced you that I can sell your home”
“So tell me … What is it, specifically, that is stopping you from putting me to work tonight?”
This should get the real objection.
“I can appreciate that before we met today, that you set up another appointment with another realtor.
I’m sure you will agree that my qualifications will be tough to beat. Let’s get your home on the market tonight. I’ll be happy to call the agent, cancel your appointment and it will be one less delay in getting your home sold”
“Agents work together.
I will call him tonight and let him know that we listed the home and we will give him the first shot at it with his buyers before we put it in the MLS.”
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OBJECTION #3: “We want to try selling it ourselves”
“I totally understand the thought of trying to get a home sold yourself … I mean, let’s face it … saving that commission can mean some good money in your pocket….right?” (Right)
“So I’m curious, are you familiar with the difference between passive and active marketing?” (No)
“Real quick … Passive marketing is basically sitting around doing nothing like, holding open houses, sending out flyers or advertising in the newspaper….
“Were you thinking about doing any of these things?” (Yeah) “I was afraid of that!”
“These methods only work about 25% of the time! Yet, agents sell this concept as if this was the answer to all your problems … right? (Right)
“Which then makes you think well, what’s so hard about that … I could do that … right?” (Right)
“The problem is … this doesn’t get a home sold anymore…
“Do you understand now what I mean by passive … sitting around with your fingers crossed … waiting for the buyer?
“Active Marketing, on the other hand, is literally getting on the phone every single day and personally contacting as many people as I can 25, 50, even 100 a day.
“The key is … asking them if they would like to buy your home, if they know someone who would like to buy your home, or if they would like to sell their home.
“Do you know why I ask if they would like to sell their home? Because the more signs I have the more buyer’s calls I get to show your home … Does that make sense?
“Now … Which way passive or active do you believe will get your home sold?
“And you understand that I am doing active marketing on you as we speak, right?
“So, how many people do you think you could call a day to try and get your home sold…and by the way have you ever done telephone soliciting before?”
“You can try it. Lots of people do. It is like going to Las Vegas.
Millions of people go, and every now and then someone hits the jackpot, but the vast majority of people lose money or Las Vegas wouldn’t be there.
Every now and then a seller hits the jackpot, but the vast majority needs a realtor or the real estate industry wouldn’t be here.”
“Let’s talk, okay?” John, you are an attorney and try cases in court daily. I can’t imagine walking in and trying the case myself.
I am a professional real estate agent. I know what I am doing. I am here to release you from the extra stress.
I have a record 98.8% full contracts. I earn my commission. I bring you top dollar. I close the deal.”
OBJECTION #4: “We have a good friend in the business.”
“I can appreciate that, almost everybody does, so when would you like to see how 85% of the homes I list sell and why only 40% of the homes listed with other agents sell. Which is better for you, 6:00 or 7:30?
“Your friends will want the very best for your correct?” (Yes)
“I will be happy to call them for you.”
“Are you willing to jeopardize your friendship?”
“You owe your friend, friendship. You owe me nothing. But you owe yourself the best. Don’t you want the best agent working for you?”
OBJECTION #5: “We can always come down later.”
“You’re right, and I think you need to take into account how homes get sold.”
“You see, if we come out of the gate with your home overpriced, all of the agents that show properties will instantly write you off as non-motivated sellers … Can I explain what that means from an agent’s perspective?”
“You see, if we come out of the shoot with your home overpriced, all of the agents that show properties will instantly write you off as a non-motivated seller…
The higher a price on a property, let less the seller needs to sell it…at least that’s what the agents believe … purely from their past experience…”
“Now a non-motivated seller means, that even if you come down on your price later, two things will happen. Most agents won’t even realize your home has been reduced. Now you might say, can’t we just send them a flyer telling them that it has been reduced?”
“Yes, we could send everyone a flyer telling them the price has been reduced, and yet the agents get 500 flyers a week and there’s a good chance it will go unnoticed.”
“If they see that you had the home priced really high in the beginning that will tell them that you were kind of unrealistic when we listed the property, meaning that you didn’t believe that what I was saying was true … all agents interpret this as trouble when it comes to getting the deal closed”
“Do you understand why? If we price it to sell right from the beginning, our odds of getting agents to show it are much higher.”
“By the time the buyer for your home will have bought another. Do you want to lose that buyer?”