4. I want to find a house before I put mine on the market.
“I agree, finding your new home is important and the unfortunate thing is it may take as long as 3 to 5 months for your home to sell. Then it will take another month to get the closing done and by that time, any home that you would have found will likely already be sold. Does that make sense?
Let’s get your home on the market right now and get to work on getting your home sold so you don’t have to wait any longer than is necessary to get moved into your new home … sound good?”
While this isn’t necessarily a valid objection handling script in all markets, you should never “count your eggs before they hatch.” While it might take longer for a house to sell, there are other positive things that could happen. They can ask for a rent-back in some markets and still be incredibly competitive. Review some of our agent tools to find some other creative ways to help your clients.
“Terrific! Have you seen a home you want to put a contract on? (No) Great let me go ahead a schedule a time with my buyer agent so they can help you find the perfect home. In the mean time I can be working on getting your home sold that way when we get a contract on your home we can put in a contract on your #1 choice-close both homes the same day and … move only once. Won’t that be great?”
This listing presentation objection can be overcome by emphasizing the process of buying or selling a home. In it, you explain that when you’re buying or selling a home there has to be a glimpse at the whole picture — buying and then selling. Additionally, you can talk about things that you can negotiate and ask for: like a rent back, delayed settlement, etc. Consider asking them for a one-day listing, this tactic is helping attract new leads.
5. You don’t handle many homes in our price range.
“You’re right, I don’t sell a lot of homes in your price range and that’s exactly why I’m here tonight … I usually sell homes in lower price ranges and what I find is … after I sell my clients homes, many of them move up to your price range, therefore, it only makes sense … that the next logical step, is for me to sell your price range as well, considering I already have a relationship with many buyers that will be interested in your home … does that make sense?”
This top-seller objection focuses on an agent’s lack of experience in a specific price range. Perhaps you sell properties that are largely over or under the price they would be looking to sell their own home for. Consider the implications:
- Is the way you market or sell the property different if the price is dramatically over or under the property in question?
- Your experience in the market has given you experience in a variety of marketing techniques Wouldn’t you say that you’re well versed in identifying marketing opportunities and figuring out the local market for them? For example; you can look at that neighborhood’s average day on market, identify if properties are selling for/at/above listing price, and identify recently sold comparative properties.
- How can working in different price points work towards the benefit of an agent? If their property is exclusive in a price range, wouldn’t it receive more attention as it’s the prime property to sell for the largest amount of commission?
6. “If we have to sell that low, we will sell it ourselves and pay 3% to the agent that sells it.”
“I completely understand your point of view and it sounds like you haven’t been involved in this kind of transaction in a while … can I tell you why?
Agents work with buyers because it is easy. You show the house, the agent writes the offer and the agent on the listing side handles the next 30 to 60 days of the legal paperwork trying to get the deal closed … does that make sense?
If you list it for sale yourself, who will follow up with the 30 to 60 days of legal paperwork … you? If so, what agent will want to risk the fact that you may not have done it before?
Let me ask you this … if you were an agent, would you rather show homes that were listed with professional agents that worked to get deals closed?
Or would you rather show a home and keep your fingers crossed, hoping that you don’t get sued by the buyers because some legal aspect was overlooked by the homeowners and the transaction didn’t get done … which would your rather do?
Do you see my point?
Your idea sounds valid. It just doesn’t fit in today’s market reality … Are there any other questions I can answer before you sign the listing agreement?”
There are other points of value that an agent brings to a seller outside of just the paperwork that can help overcome this common seller objection regarding real estate. If you’re looking for other ways to improve your value statement to clients, consider checking out some of our programs. Some examples of typical value agents bring, include:
- Market the property internally, and on the MLS.
- Handle coordinating professional photographs.
- Offer tips to make the house more easily sold and even provide access to interior decorators on occasion.
- Have good relationships with handymen and contractors who will be able to complete work quickly and to appropriate standards to make your home ready to show.
- Have signs and other marketing material that can help emphasize your property’s value.
- Have experience with negotiations, writing contracts, and know-how to help get their seller what they’d like.
The truth is that agents are well-versed in today’s market and have the best understanding of what can potentially make or break a deal. You don’t want to leave money on the table in a real estate transaction, and using an experienced agent can help make sure that doesn’t happen.
7. “We can always come down in price 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 bee
n 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 is much higher.
Alternative: “By the time the buyer for your home will have bought another. Do you want to lose that buyer?”
Alternative: “By that time the buyer for your home will have bought another. Do you want to lose that buyer?”
Agents are well-versed in pulling comparative properties that have sold in the neighborhood. Because agents are paid via commission when a property sells, and based on the overall purchase price, they have a vested interest in also making sure that you get the absolute most for your property. If they sell your home for less than it’s valued, then not only are they doing their seller a disservice, but they are also leaving their own money on the table.
Your listing presentation objections should be referred back to your presentation, where you show nearby properties that have recently sold for similar prices comparable to the market analysis you provided.
8. “We aren’t quite ready yet, we need to finish a couple of projects around the house before we put it on the market.”
“I agree that making sure the house is up to par is important and you probably didn’t realize how little effect it will have on securing a buyer …
Let’s get your home listed for sale, get some of the top brokers inside to show the house, and get their feedback. The good news is you’ll find out exactly what projects you don’t have to do and the ones you need to do while we’re in the escrow period.
It sure would be nice to not have to spend a dime to get your home sold…wouldn’t it?
Great, which would be better for you, tonight at six or 7:30?”
“Great, why don’t we complete the paperwork now and while you are doing your projects, I’ll get the flyer done and paperwork processed so when you are ready, I will be ready too! We can begin showing in 2-3 weeks.”
“How much money will you spend on those? You’ll probably not make that money back on the sale. Let’s just sell it as is and save you the time and money ok?”
Agents know how to sell a property with the best tools available. Because of this, a seller who’s looking to market their property on their own will spin their wheels and waste their resources on methods that are unproven in attracting buyers. For example, how would a seller market an open house? Through signs around the neighborhood, perhaps. And while this might be efficient, they wouldn’t have access to list the Open House on the MLS, which is shared on many websites like Zillow.
9. “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.”
In this top seller objection, you’re focusing on the fact that you have a shared interest in a property doing well. If another agent is willing to drop their commission in an easy conversation, how would they market and represent their home in another conversation? Likely the same way, one would assume.
An agent’s commission is the main source of income for them and their family in most situations. And while some deals might make sense, for example when a seller is selling their home and buying another property with the same agent, many times you want to stick to your commission structure or offer alternative marketing packages.
For example, show them a property that’s listed with cell phone pictures. Then show them a property marketed with professional photographs and staged by an interior designer. Ask them which property do they think would command the top-selling price? And then identify the fact that a reduced commission would take from your ability to deliver the top dollar for their property.
10. “We want to have an exclusion in the listing contract in case our company, friend or neighbor wants to buy it”
“I agree that it’s important to be thorough when we are filling out this contract and let me ask you this …
Why haven’t you already sold the home to your company, friend or neighbor? (No one has made us an offer)
Your personal marketing hasn’t worked and that’s why you are hiring me … is that right? (That’s right)
So, I’m curious as to why I should waive my commission. If my marketing works well enough to convince your company, friend or neighbor to buy it … isn’t that what you are paying me for in the first place?
Aren’t you hiring me to let the public know your home is for sale and convince people they should buy it?
So why would I cut my commission if my marketing works??”
Alternative: “You have 24 hours to let them know you’re listed. Call them. They do or they don’t.”
Objection Handling Script
Buyers and sellers in today’s market are highly educated and knowledgeable. When you are asked to give a price for a home, come prepared for listing presentation objections. Know some of the most common things people are going to have questions about, and answer them in your presentation. When your presentation has concluded, they will be ready to sign your exclusive right to represent and be on the way to having their property sold!
Want to learn more about real estate sales and marketing? Our coaches have been to hundreds, if not thousands, of listing appointments and can help you prepare for an upcoming listing appointment. You can sign up for a free consultation with them today!