By Kathleen Black
This article is best paired with one of my other blog posts on the Buzz blog, The most common buyer objections agents need to know how to overcome.
While most seller calls are smooth and easy once a seller has decided to meet with you, (i.e. ‘when can you come over to give me a value on my house’), not all will follow the normal pattern, especially in our new normal. You need to be prepared for these with the following objection handles.
Objection handlers are the “key to confidence”, and are what you need to sky-rocket our ability to articulate the true value you can offer, which in turn increases conversion percentages.
Objection handlers are answers to the most common concerns and/or excuses for not wanting our services or not wanting to meet with us. They will mostly come after the client wants what you have offered to help them, but a few do come earlier.
Objection handling is the art of determining if the client’s objection is a legitimate reason or an excuse. A legitimate/real objection is rarely overcome. (i.e. if the client truly doesn’t have time to meet us, you're unable to say anything to create more time; however you might be able to add value to the offer so they are more willing to find time.)
In this article, you will find the 3 most common seller objections you need to know how to overcome.
Commission
More than ever, you’re going to talk to people whose first question will have something to do with your commission. Whether your sellers are trying to save their money, don’t see your value right away, OR don’t want to pay for the
value that you give, the most common objection you’ll face will lead back to your commission.
Like I mention in this past Inman article, it’s crucial to communicate your value, whether it’s to your clients or your agents as a team leader.
When asked a question regarding your commission, explain to your sellers that your purpose is to offer value. Value is communicated in terms of your systems, support, and education. We work with a few different aspects of human psychology around decision making to make it easier for agents to articulate value in a way sellers can understand easily.
Response: Well, we have a few commission options available ranging from low % to highest %, and without seeing your house and being able to determine the marketing required to get it sold properly I wouldn’t know which is the best option for you. When is the best time for us to come over and discuss the options so you can choose which option works best for you ... days, evenings or weekends?
Consulting
If your seller needs the approval of their spouse/partner/other before deciding, then figure out the concerns or objections of the third-party and address them while you still have the original seller with you.
This is also a common problem with buyers, which I mention in this Inman article. (LINK BUYER ARTICLE WHEN PUBLIC)
Set a tentative date and time that will work best for both parties, and give a call to the seller the day before to make sure that it still works.
This will give the seller a chance to speak to their spouse/other and this way they don’t have to call you back, you’re in control and can pick up the phone and call them.
Response: Why don’t we do that and what we will do is set a tentative time that usually works best for both of you and what I will do is call you the day before to
confirm that time still works this will give you the chance to speak to your spouse and this way this way you don’t have to call me back.
What is better for you ... days, evenings or weekends?
Unready
Uncertainty is in the air, and now more and more sellers will feel as if their house is not ready yet, and if it’s less than 3 months prep, you can follow the objection handle below to encourage your seller to get educated about whether they should sell now!
Explain that as a Realtor, you are trained to offer an evaluation of their home, as is, and additionally you can offer home staging services.
Let the seller know that you don’t mind evaluating their home, and giving professional advice about what to do or what not to do when getting the house ready for sale.
Response: Well this is great for you, as a Realtor I am trained to overlook the issues you are going to fix and still be able to provide you with an accurate evaluation of your house. What is even better is that {we provide Home Staging to all of our clients so} we will provide you with professional
advice about what to do and maybe what not to do when getting the house ready for sale. This could save you hundreds, even thousands of dollars. Also, doing this now will give you time to get ready and us time to prepare the marketing plan properly so we hit the market perfectly
when you are ready. What’s better for you ... days, evenings or weekends?
All Objection Handles
Dealing with seller objections is frustrating. Experienced real estate agents have answers for all seller objections. The following, for all seller objections, remember these three key rules.
A good objection handle will:
1. Agree and have empathy for where the potential client is coming from, then
2. Turn the objection in part or whole to a legitimate solution for the potential client to help
3. Assume that there is no other reason not to move ahead and ask when is best to meet