Do Objections Catch You Like a Deer in the Headlights?
When an Agent hears an objection in the sales process, they often react like a deer caught in the headlights: they freeze in terror, moving only at the last second before the buyer or seller runs them over.
Often, Agents will view an objection as a big wall between them and the sale - a wall so tall that they can see no way around, over, under, or through. But objections are really like a two to three-foot-high picket fence. They have lots of openings; you can climb over them or walk down the fence's length and find the gate.
An unskilled salesperson fears hearing an objection, but a great salesperson views objections as opportunities. Your mental approach to an objection will determine your success or failure.
A great salesperson knows that most objections result from one of two situations. The first situation is regarding the concerns of the property, which is usually price based. The seller usually feels that their home is worth more than the marketplace or more than you would recommend.
This is your signal to go back to the price. Re-explain the importance of proper pricing. Show him that he will be the highest bidder for his home. Remove the emotion from the discussion and look at the facts. The more emotion you allow into the discussion, the higher the price the seller will want. You must have conviction and belief in your price. It is imperative you show that when handling objections effectively. Remember this is your opportunity to overcome the concern and then ask for the order again. Every objection is an opportunity to close. Great Agents clearly view objections as opportunities.
The second situation is the seller's concern about your abilities. This objection stems from your presentation and conviction. When this arises, a great Agent will go back and focus on their track record. They will focus on telling the seller about their ability to get the job done. Once they have done that, they will ask for the agreement from the seller. This can be done many ways. I often used a question such as, "Do you believe I can sell your home?" If they said yes, I asked for the order. If they said no, I asked the most important and powerful word in sales, "why?" It allowed me to get to the bottom line of the objection.
There are only forty possible objections you will encounter in real estate. You can learn to counter them all.
If you wrote them all down and practiced them for half an hour a day for the next six months, you would know them automatically. You would be prepared for any situation in selling. You would then have the confidence to say, "Bring them on; I am ready for them."
Pro teams like the Denver Broncos spend four to six hours a day practicing football. Then they review films and study their playbooks. They spend more time preparing for a game than playing the game. There's a lesson in that.
How skilled in sales would you be if you adopted that regimen? How about if you practiced even one hour a day on your skills at overcoming objections? You would become an unstoppable real estate salesperson.
Practice being successful daily, and you will be amazed at your progress in as little as 30 days.
So, what are your favorite scripts for handling objections? Are there a million objections or just a basic few? In Camp 4:4:3 today we touched on the basics and are ready for whatever comes our way!!