Post by Jay Iwahashi, GRI on Jun 14, 2005 23:00:33 GMT -5
Always have the right response, and you’ll see your listing inventory soar.
BY HOWARD BRINTON
Would you like to close more listing appointments? A quick way to bring this about is developing great answers to common objections. Your answers should be short, punchy, and to the point. They should remove all possible objections so that you walk away with the listing. And, yes, you should practice your answers so that you’ll never be at a loss for words.
Here are some common objections, along with listing-tested answers from top performers in the industry.
Objection: “I have a friend in the business.”
Your answer: “I understand your feelings, but consider this: You may have to reveal more to your friend than you would like. When we get into discussing the sale, your life, your finances, and your bottom line are going to be laid out in the open—warts, blemishes, and all. Do you really want to expose that much to your friend? Plus, as nice as you are and as perfect as we all try to be, things happen. When you get irritated or mad, would you rather be yelling at your friend or yelling at me?”
Objection: “We’re not ready. We have to fix up the house first.”
Your answer: “That’s a good idea. We want your house to be 100 percent ready when it goes on the market so we can maximize its impact. Let’s get the paperwork signed right now, then we can pick the target date for putting it on the market. Let me get my calendar out. When do you think you’ll be ready?”
Objection: “We want to try selling it ourselves.”
Your answer: “I understand many people like to do a for-sale-by-owner. The main reason they do this is to save money on the commission. But also keep in mind that most buyers will offer a lower price for your house because they know you’re not paying a real estate professional. The challenge isn’t in writing up the sale. The challenge is to find a buyer who is willing to pay your price for your home. I can find a buyer who will pay your price. Chances are it won’t cost you to use my services, because I can help you get the best price. In fact, you may net more money than if you do it yourself.”
Objection: “Another real estate practitioner says he can get more money for our house.”
Your answer: “I know you are probably interviewing other real estate professionals, but it is not a good idea to select someone to work with based on home price. I could guess right now at your home’s value and say it’s worth twice what anyone else says it’s worth. You could list with me based on that, but perhaps I couldn’t sell it. It’s your home, Mr. Seller, and I can list it at any price you want, but it’s better to find out what the market is likely to pay. I’m going to come back to you with a CMAa competitive market analysis. That will show you what the market indicates your home will sell for. We’ll discuss the offering price at that time. Is that all right with you?”
Objection: “Lower your commission.”
Your answer: “I’m sorry, but I just can’t take less. Here’s why: if you took $6 and laid it here on the table, $3 of that would go to the buyer’s company, $1 goes to my broker, and $1 goes to all the marketing work I do. Do you want to take the last dollar away from me?”
These are just a few ideas for handling objections. Ask other practitioners in the office how they handle these questions, and try their answers out as well. Master these answers to commonly heard objections during listing presentations, and you’ll see your listings and your success increase dramatically.
BY HOWARD BRINTON
Would you like to close more listing appointments? A quick way to bring this about is developing great answers to common objections. Your answers should be short, punchy, and to the point. They should remove all possible objections so that you walk away with the listing. And, yes, you should practice your answers so that you’ll never be at a loss for words.
Here are some common objections, along with listing-tested answers from top performers in the industry.
Objection: “I have a friend in the business.”
Your answer: “I understand your feelings, but consider this: You may have to reveal more to your friend than you would like. When we get into discussing the sale, your life, your finances, and your bottom line are going to be laid out in the open—warts, blemishes, and all. Do you really want to expose that much to your friend? Plus, as nice as you are and as perfect as we all try to be, things happen. When you get irritated or mad, would you rather be yelling at your friend or yelling at me?”
Objection: “We’re not ready. We have to fix up the house first.”
Your answer: “That’s a good idea. We want your house to be 100 percent ready when it goes on the market so we can maximize its impact. Let’s get the paperwork signed right now, then we can pick the target date for putting it on the market. Let me get my calendar out. When do you think you’ll be ready?”
Objection: “We want to try selling it ourselves.”
Your answer: “I understand many people like to do a for-sale-by-owner. The main reason they do this is to save money on the commission. But also keep in mind that most buyers will offer a lower price for your house because they know you’re not paying a real estate professional. The challenge isn’t in writing up the sale. The challenge is to find a buyer who is willing to pay your price for your home. I can find a buyer who will pay your price. Chances are it won’t cost you to use my services, because I can help you get the best price. In fact, you may net more money than if you do it yourself.”
Objection: “Another real estate practitioner says he can get more money for our house.”
Your answer: “I know you are probably interviewing other real estate professionals, but it is not a good idea to select someone to work with based on home price. I could guess right now at your home’s value and say it’s worth twice what anyone else says it’s worth. You could list with me based on that, but perhaps I couldn’t sell it. It’s your home, Mr. Seller, and I can list it at any price you want, but it’s better to find out what the market is likely to pay. I’m going to come back to you with a CMAa competitive market analysis. That will show you what the market indicates your home will sell for. We’ll discuss the offering price at that time. Is that all right with you?”
Objection: “Lower your commission.”
Your answer: “I’m sorry, but I just can’t take less. Here’s why: if you took $6 and laid it here on the table, $3 of that would go to the buyer’s company, $1 goes to my broker, and $1 goes to all the marketing work I do. Do you want to take the last dollar away from me?”
These are just a few ideas for handling objections. Ask other practitioners in the office how they handle these questions, and try their answers out as well. Master these answers to commonly heard objections during listing presentations, and you’ll see your listings and your success increase dramatically.