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How Much is Too Much?

By Marjorie Taylor

Real Estate Agent with Florida Homes Realty and Mortgage

January 06, 2009 12:36 AM

Another Resolution I have adopted for 2009 is to develop new scripts to handle certain buyer objections that come up frequently. This market has changed so much that I need some new material!

My favorite is "The seller is asking too much". This is how I handle it. I ask in return "How much too much do you th Up Arrow ink it is?" Then I stop talking and listen. The Buyer will then tell what price they are willing to pay. This will be my basis to get them to write an offer! Sounds simple, and it is...but it works!

How are you handling this objection?

Here is one that need help with...

"I am going to wait a while because I don't think the market has bottomed out".

What do you say in response?

Let's write some new material together, what are some of your common objections and in today's market and what are you doing to overcome them?

Marjorie Taylor is a licensed Real Estate Broker and community leader representing Homes in St. Augustine. She is passionate about helping clients buy and sell Homes in St. Augustine and Homes in St. Augustine Beach, Florida.

904-591-9121

MarjTaylor@comcast.net

www.SeaGroveStAugustineBeach.com

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Tom Bates

Austin Modern Living - Austin, TX

Buyer: I am going to wait until the market bottoms out.
Buyer Agent: That's a great idea! What percentage do you figure the market will drop by your calculations? (wait for response)

Buyer: Maybe 10% before it bottoms out.
Buyer Agent: Great, well why don't you make your bottom now instead of waiting. Make them an offer for 10% lower and just see if they'll take it.

Maybe something like that Marjorie...good post!

Jan 06, 2009 12:54 AM

Tony & Darcy Cannon

Aubrey and Associates Realty - Layton, UT

The C Team

Marjorie,

Buyer: I am going to wait until the market bottoms out.

Buyers Agent: How will you know when the market bottoms out?

Buyers Agent: Did you know that a home has to drop 8% in value for every 1% raise in interest rates to maintain the same payment and value over time?

Buyer: No I didn't realize that.

Buyers Agent: With rates that have already dropped to historical lows, in all actuality, the market may be as low as it is ever going to get for a buyer. You don't want interest rates to start climbing and killing any savings that you might have from buying right now. (Now shut up and let them talk)

Just my ideas, I hope that they work for you!

Jan 06, 2009 01:23 AM

Goodbye Active Rain

Out of Real Estate

Great job handling that objection. Ask a question back to the person and keep asking to find out THEIR situation and what THEY want.

Thank you for the post.

Jan 06, 2009 01:37 AM

Marjorie Taylor

Florida Homes Realty and Mortgage - Saint Augustine, FL

New Homes in St. Augustine Florida

Great responses to the price objection Tony and Tom thanks! You are right Tony, asking a question back is like tossing the ball right back to them, seems to work for me.

Jan 06, 2009 02:45 AM

Li Read

Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC

Caring expertise...knowledge for you!

That's a great idea, to ask the buyer what they think the home should be priced at. And to listen to the answer, of course! Thanks for sharing this tip.

Jan 06, 2009 03:01 AM

Jim Frimmer

HomeSmart Realty West - San Diego, CA

Realtor & CDPE, Mission Valley specialist

There are so many tax advantages to owning a home, if one wants a home in which to live and raise a family, it's never to early to buy.

Jan 09, 2009 01:46 AM

Jim, you are right, especially with money so inexpensive now. Last few months wehave been seeing quite a few "bottom feeders" looking for that desperate seller for an unbelievable deal.

Jan 11, 2009 11:08 AM

Li, let me know how it works for you.

Jan 11, 2009 11:09 AM

How Much is Too Much?

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