When you are on the phone with a client or in a listing presentation, keep a close eye on how you overcome their objections. The most POWERFUL way to overcome objections is NOT to dump facts. One would think that sharing the facts is the smart way to win a deal and certainly, facts don’t hurt. But share a story, and you will convert a lot more customers. The old sales adage has never been proven wrong, facts tell but stories sell!
It’s really quite simple. When the customer throws up an objection remember, they are showing interest-objections are GOOD! But you still need to overcome it. Say you are on a listing appointment and the customer says, “Well Jean at XYZ Realty is willing to list this house for just 4%.” This is a price objection. Many Realtors just drop their commission or try to convince the client that they are better with facts. But remember, people don’t make decisions logically, they make them emotionally. Instead, you would be better served saying something like this, “ You know, many customers feel that cutting the Realtor commission is a smart decision. I had a client named Bob that thought that same way. But what he found is that Realtors worked harder for the higher commission and his home got shown much more and actually closed quicker! In the end, he saved/made a LOT more money going with me at 6% then with a discount shop at 4%!”
Now throw a fact in there, “There are 3000 Realtors in this county (whatever the number is, do you think that with that many Realtors actively working on your listing harder then others we might possibly sell your home quicker and for more money?” Then stay silent. The answer is obvious and when they say “yes”, you close the sale. Try this simple strategy next time.
First, affirm their question: “You know, many customers feel that cutting the Commission is smart”.
Then, tell your story. If you can, wrap it with a fact that backs it up and then ask a question that leads them to the sale. Using stories will keep their interest more, set you apart and connect to them emotionally. In the end, it leads to more conversions and more money for you.