Answers To ...
When a buyer or seller throws an objection into your presentation are you one of those agents who wears the 'deer-in-the-headlights' look and begins to mumble?
Disagreements can arise from misunderstanding something the prospect has read or heard. They can also come from an experience - as in they've been through a real estate buying or selling process before with a somewhat negative result. Here's another point of view on opposition and reluctance.
Why Objections Are Good... And How You Can Use Them
Just when you think a transaction is going smoothly, you hit a bump, with a counter-argument from the client, a reason not to proceed. Christy Crouch and partner Scott Friedman, co-authors of the book "Now What Do I Say? Never Be At a Loss For Words Again: Real Estate Objection Handlers for Virtually Every Situation," explain why a counter-argument doesn't mean a client isn't interested in doing business with you. In fact, the opposite could just be true.
So, you have a potential seller on the phone and they tell you they want you to cut your commission in order for them to list with you. Or, perhaps you're in their living room and they want to list at a price much higher than you've recommended. Or, they just want to think about it, so they'll call you on Monday.
Some agents are really good at handling objections like those. Many are not. Many are scared to get hesitation; so much so that they won't try to generate leads for fear of not knowing what to say.
1. Realize where hesitation come from - This is the biggest secret and the simplest thing to get. Objections only come from people who are considering doing business with you. You should be happy when getting a counter-argument. If you don't care about something, are you going to bother talking about it?
For example, let's say you're in a clothing store and you want to buy a business outfit in blue, black or gray. Let's say you told the salesperson you only want to spend up to $200. So, if the salesperson comes back with an orange outfit for $215 dollars, are you going to ask them to discount it to $199?
No. You're not considering buying that orange eyesore, so what the heck do you care about the price?
Same goes with buyers or sellers - if they have questions and/or counter-arguments, they're interested in using you. If they're not interested, they won't object. They'll disappear.
2. Get some objection handlers - I don't care how or where you get them, just get them. Create them on your own. Find some you like from other agents, coaching companies, websites, etc. The point is that you need to have standard answers that you can go to anytime something comes up.
Clients aren't coming up with new objections to fool agents. Counter-argument are pretty much the same. And, since one client doesn't know what you're saying to another client, it shouldn't matter to you if you think you say the same thing over and over again. Listen to a flight attendant: Do they make up their in-flight safety speech as they go along, or have they rehearsed it hundreds of times? For that matter, check out the pilot. Are you upset when you find out the pilot does the same exact pre-flight checklist for you as he/she did for the 25 other flights he/she's flown this month? Heck, no! You want him/her to do the same things. He/she's a professional.
Well, so are you. So stop being surprised when you get reluctance, it's a part of the selling process. When a seller says they want you to cut your commission, or only wants to list for 90 days, have your answer ready.
3. Practice, practice, practice - I already alluded to this with my flight attendant analogy. You must practice objection handlers to the point of memorization. The phenomenon that occurs once you practice is that you are so confident, and ready to get objections, you rarely ever get them anymore. That's the joke. The more you look forward to them, the less you get them.
As I stated in point number one, you only get objections from people who are considering using you. However, one of the reasons you get those counter-arguments is that they sense you're not as confident a salesperson as they want/need. If you walked in and they just thought, "Wow! That person's gonna sell my home!" they wouldn't ever bring up an objection. That's because you give off a confident and authoritative quality. Please don't confuse that with ego or arrogance. If you come off as arrogant, they won't be thinking, "Wow," they'll be thinking, "How," as in, "How can I get this jerk out of my house in less than 15 seconds?"
Make a daily habit of practicing objection handlers. Schedule it. Do it with other agents if you can. It'll pay off hundreds of times over.
Hopefully you can now shift how you feel about getting reluctance from buyers and sellers, and realize getting objections is a good thing. Just be ready to handle them and watch how much more business you do.
Barney Johnson is the Broker of Record for Re/Max Crossroads Realty Inc. in Toronto, Ontario, Canada. You can always contact Barney at TopReMax.ca If you are interested in finding out what Re/Max Crossroads can do for you please give Barney Johnson a call @ 416.491.4002 for a free confidential appointment.
Watch this excellent video thats less than 3 minutes on handling objections for real estate agents. It covers the issues and offers some answers.
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