Getting an objection might strike fear in some people.
The way I see it, an objection is just one step closer to a “yes.”
ESPECIALLY when you know what to say.
That’s what this #TomFerryShow is all about… knowing what to say when those objections come your way.
With the help of a longtime TF team member, I role play five scripts to overcome some of the most frequently heard objections from buyers and sellers.
So I definitely recommend you watch this episode.
To make this as user-friendly as possible, below I’ll provide time stamps for each of the five objections and share some key takeaways from each.
Objection No. 1: [1:08]
“I have a friend who said they would do the same thing for a lower commission.”
- Ask for the other agent’s name.
- Compare your track record vs. other agent in real time using Zillow or MLS data.
- Demonstrate how you “fight” for your clients’ best interests.
- If they won’t divulge the other agent’s name, focus on your list to sale price, number of transactions closed, or other advantageous stats.
Objection No. 2: [7:12]
“We had a specific number we wanted to get for our house.”
- Demonstrate what they “want” doesn’t matter; price is based on market conditions.
- Every buyer is trying to get the best deal possible.
- Define your role as marketing the home and creating a bidding frenzy.
- Use 3-option pricing strategy to get homeowner to list at lower price.
Objection No. 3: [12:34]
“We’re just not ready to pull the trigger. We need some time to think about it.”
- Establish that whatever they want to do is fine with you. You’re there to serve.
- Follow-up with questions as a consultant. 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.