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How to Handle the Top Expired Objections

By
Real Estate Agent

1. We are going to re-list with the same agent we had the home listed with.

 Some people ask mean, in your face questions like “why would you do that? They didn’t sell your house did they?”

 A better way to handle this objection is to ask them sincerely, “What is causing you to consider re-listing with them?” Then you can get an objection that you can handle without insulting the seller. They may respond “We feel like we owe them the listing because of all the work they did and the advertising they paid for.”

 You can reply and point out that the agent probably got calls from other buyers and sellers from their home. They got calls from the sign, the listing on Realtor.com, and also on the ads they ran. “They probably already got paid back for the work they did for you, don’t you think?” When they say yes, then say “You need to do what’s best for you, right? From what I’ve shown you, do you think I can get the home sold?” Great, then let’s get started.

2. Why are you telling me such a low price?

 The problem is that you haven’t proved to them that your asking price is reasonable. Go over the comps and actives again. First, show them 3 other completely unrelated listings for sale from your MLS. Show them the best price home, then one 5-10% overpriced, and finally a listing 20-25% overpriced. Ask them which of those homes they would buy based on what you get for your money.

 Then, show them their home up against the competition and ask them which they would buy. Another method is to have them go out and drive past the other comparable homes on the market. This works well to show them that theirs is not the only nice home on the market.

3. You haven’t shown my house to any buyers.

 I respond by saying, “Yes that’s right. There is a reason why. When I work with a seller, I make a commitment to help them sell their home. That means that I put all of my energy working to sell the listings of the sellers I am working with. And, your home wasn’t one of those, was it?”

 This usually does the trick. Think about it. If a buyer calls on a sign and is interested in that property, are you going to show that buyer other listings? No, because you want them to buy your listing. Not only do you make more money, but you do the job you committed to doing for that seller. You have to show the seller this. Your job is to sell your own listings and only other listings when you buyer doesn’t like your own.

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Ben & Chris Curry The Short Sale Agent's Advocate

Pat O'Reilly
RE/MAX..214-289-6176 Irving and all of Dallas Fort Worth - Irving, TX

Ben..good points. Thanks for the post!!

Feb 03, 2010 11:38 PM