The Seller Says "Let Me Think About It" - 5 Best Or Worst Words?

By
Real Estate Agent with Sterling Fine Properties
https://activerain.com/droplet/5l8j

"Let Me Think About It"

These are either the 5 BEST words in business...

Or the WORST.

Let me explain: imagine for a moment that you're working hard on a listing presentation, and the seller finally says to you:

"Let Me Think About It"

Well, ... are you about to get paid?

...or is the deal about to die?

When I hear those exact words I know my chances of “closing” just went down by 66%. 

Now I'm staring at 3 "doors"

 


Behind door #1: Deal! The seller ACTUALLY wants to list! I am going to win the listing!

Behind door #2:  No Deal! They ONLY want my presentation to use for shopping with the competition..

Behind door #3: No Deal! They DO NOT want to list with me, but they're too nice to tell me so they say instead, "let me think about it"

Sadly, #3 is the most common.

So the next time you hear "let me think about it" you immediately know three things:

1. You're about to start on a wild goose chase

2. The seller is going to price shop and negotiate you

3. You're not getting paid for the work you're doing. 

So here’s what you should say to the Seller when they say, "let me think about it"

First, say: "Why? What is there to think about" "Did I miss something or leave something out"

Then: " I just showed you I am unique, bigger, badder and better than all the other Realtors" (something similar to this)..

In other words, you're telling them you're good at what you do.

It's a weird effect, and you have to see it in person a few times, but this gives your seller CERTAINTY that it's a wise choice to do business with you..

Suddenly, they don't want you to "think about it"

Usually, they just want a few things clarified and do they want to 'just get started' .. and talk about the terms.

Now you're in position to CLOSE way more sellers right away that want to "think about it"

I have done a ton of videos on everything A to Z about higher end home sales (useful in any market) that include sales, marketing, mindset and strategies..

Click on the links or photo and enjoy!

 

70+ YouTube Luxury Home Sales Training Videos

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To your success,

Hugh

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Rainmaker
1,090,975
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

Those are DREADED words indeed! I've never had a good comeback for that and most of us meekly agree.

But you're right - why not challenge the seller right then. If you think you might lose it then what have you got to lose?

Oct 22, 2019 12:59 PM #3
Rainer
57,520
Ken Jones
Realty ONE Group Central - Commercial - Freehold, NJ
There's no substitute for Experience.

Hugh Thomas Lorch "Let me think about it" is to listing agents as the words, "I'll be back" is to buyer agents.

It's typically just an excuse to extricate themselves from a situation they don't want to be part of.

I've also used the phrase, "What's there to think about," and frequently got the deer-in-the-headlights look combined with the stupid response, "I just need to give it more thought." REALLY???

If I'm unable to overcome this, I typically stop wasting my time and blow them off.

Real estate is a numbers game; the more people you get facetime with the more business you're going to do.

Good article. Thanks! 👍

Oct 22, 2019 01:29 PM #4
Rainer
308,427
AndreaBFerreira CRS - SRS - CLHMS
Keyes Co. - Davie, FL
Miami Dade, Broward and Palm Beach County in FL

I see as the first time to fight for our customers.... If you go to plain to assure you will get what you want, most likely you will be plain with the buyer's agent.. not fight ... not deal...

Oct 22, 2019 04:29 PM #5
Ambassador
817,343
Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Isn't that the truth? Almost always Door #3 is what is on the other side of Let me think about it. Great post! Congrats on the Feature.

Oct 22, 2019 04:49 PM #6
Rainmaker
163,624
Eva B. Liland Century 21 Doug Anderson
Century 21 Doug Anderson - Lancaster, CA
Glad to be of Service 661-714-1643

If I run in to objections, I'm pretty good at turning them around in a firm, friendly way but it does happen...

Thank you for providing links above. Will have to book mark for later.

Oct 22, 2019 05:56 PM #7
Ambassador
3,929,060
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Hugh- well deserved feature!  Love the suggestion you gave to counter the 5 dreaded words. 

Oct 22, 2019 07:15 PM #8
Rainmaker
647,268
Mike McCann - Nebraska Farm Land Broker
Mike McCann - Broker, Mach1 Realty Farmland Broker-Auctioneer Serving Rural Nebraska - Kearney, NE
Farm Land For Sale 308-627-3700 or 800-241-3940

Always ask the question. Why? If you don't ask the question...the answer is already NO.  Make them tell you NO!      This is my mantra. 

Here is the real hard part:

If they still have to "think about it" after you ask the question and did everything in your professional expertise to secure the business...Thank them for their time, THEN gather your presentation book you handed them and take it with you.  If they ask why, tell them it is like shopping at a store...you look at the item but do not get to keep it until you commit to pay for it! 

Walk out and move on. 

Oct 22, 2019 08:06 PM #9
Rainmaker
795,780
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Most people's objections are because you haven't answered a question they have. Tackle those head on, and likewise tackle head on I need to think about it. Great post to remind us not to be timid but to go for it.

Oct 23, 2019 12:14 AM #10
Rainmaker
323,633
Ron Tissier
Chapman Hall Premier Realtors (404) 580-9069 - Atlanta, GA
Defining Homes. Defining Lifestyles.

Hugh Thomas Lorch If you don't ask, you don't get.

Cheers!

Oct 23, 2019 06:15 AM #11
Rainmaker
1,459,150
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

If you don't ask, you won't know. There are all sorts of questions that could be asked. Just saying, OK, thanks, won't get any answers!

Oct 23, 2019 06:36 AM #12
Rainmaker
2,474,238
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Exploring, exchanging and conversing replaces thinking and leads to discovery, adventure and an end result. Thinking leads to sinking & drowning in dreams

Oct 23, 2019 07:11 AM #13
Rainmaker
758,826
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

This is a great response. Wish I had practiced it from the beginning when I was simply too polite, shy, inexperienced, whatever to overcome the sellers' objections.

Oct 23, 2019 01:19 PM #24
Ambassador
1,440,726
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Having a script ready for the "let me think about it" question is the key to winning more listing presentations. You've got it nailed.

Oct 23, 2019 07:42 PM #39
Rainmaker
1,550,787
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

You are so right. I once had a would-be copywriting client that I could see was about to become a big "No." I met him head on and enjoyed several years of working for him on various projects. We even became friends.

Unfortunately, he is no longer with us, and I miss him.

Oct 23, 2019 09:01 PM #40
Rainer
481,664
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

My response is, I understand, some of my clients were uncomfortable in choosing me to help them, yet after choosing me, they were delighted with my services. So, if you don't contact me within 48 hours, I'll know you've chosen someone else to help you. Now, unless you contact me, I won't call you, fair enough? Thank you so much for the opportunity and all the best to your success. 

Don't chase consumers who are reluctant, uncooperative and procrastinators because your time is indispensable. Great post.

Oct 23, 2019 10:37 PM #41
Rainmaker
636,373
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

Good Point! Might as well get it out in the open. Does show a clear strength!

Great Post  Bookmarked!! thank you

Oct 24, 2019 12:36 AM #42
Rainmaker
5,077,215
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Hugh Thomas Lorch great post....congratulations on the feature.... when one hears those 5 words, nothing good results other than you set the bar high for the next one...and maybe, just maybe, they may make a good business decision.

Oct 26, 2019 04:34 AM #45
Rainmaker
193,516
John Henry, Florida Architect
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

Ah, FINALLY.  The real story about the three doors...  Now I know what to do next.  Yes, price shopping is one.  You can't blame someone for thinking they hire professionals by kicking the tires on all the competition and then making up their minds.  But suppose they like your service but not your personality for some reason?  Or the other way around?  Who really knows what goes through the minds of prospects when they call?  I tend to offer freebies to get them hooked so that they realize I am as competent and eager to get their business.  Yet I have a friend who, in the heyday before the recession, was getting people to eat out his shoe by putting them off.  "Who referred you to me?"  "I am a bit busy right now".  ETC.  Thanks for your take on this frustrating aspect  of any service business.

Oct 27, 2019 04:52 AM #46
Ambassador
4,045,352
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

There is always a reason why sellers say this, we just don't necessarily know what it is without querying further.

Oct 28, 2019 01:04 PM #47
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