When my husband Thomas first started as a Realtor in Toronto back in 1980, the first months in the business were slow… only a few buyers and zero sales.
After 3 months he took a sales training course from Tom Hopkins and his business took off… in the first 5 months of the following year, he became 2nd in his office for sales.
He learned from that experience that ongoing training and education were crucial to being successful as an agent.
There’s a real art to overcoming objections from everyone you run into during a transaction… buyers, sellers, their family members and ’those who know better than you’.
I’ve included several common objections here and ways for you to ’take them to heart’ and make them your own.
How do you think about yourself and the solutions you offer? How do you think about the industry you’re in? All of these will determine how you overcome objections and it’s an art. You’re not going to master overcoming objections today. It’s something you work on and you have to start with your own thinking. You have to start with your own mindset and you have to learn to overcome objections.
#1. Address the objection before it becomes an objection
Let’s say, you’re meeting a seller, you closed the appointment and now, they’re your customer. What objections are they going to have throughout the transaction? Showings, open houses, or not having open houses, will be objections down the road. Whether it’s a lead or a customer, you want to have a process.
The beginning of the process starts with setting expectations. One objection I always hear, particularly if a market’s slowing down a little bit, is open houses. I don’t do open houses and I know that the seller is going to want me to do open houses.
“Mr. Seller, I want you to understand that there are a lot of different things we do in our marketing plan, but one of the things we do not do is open houses. Through all of our years of dealing with buyers, we found that 99% of the time, the people that are coming to the open houses are not serious buyers. Open houses are a great way to generate leads for agents. So, if you’re driving around on a Sunday and you see a lot of open house activity in
your market, you might think to yourself, ‘Hey, why isn’t my agent doing that?’ And the truth is, I’m not going to kick you out of your house every Sunday to generate leads at your expense. That’s why we have an 89-Point Marketing Plan that’s proven to sell homes the fastest and for the most of amount of money.”
Know your stuff and understand your process. When you do, you’re able to overcome these objections before they become problems. You want them to be able to see where you’re taking them. You want to clearly articulate your process and you need to be able to anticipate the possible objections throughout your process.
#2. Offer unique solutions
In overcoming objections, I’m not overcoming the objection as much as I’m offering a solution. In your business, what is it that you have (programs, systems, offers, solutions) that will allow you to overcome objections?
What do you charge?
With our Smart Seller Program, we have a menu of commission rates. Depending on what you choose, that’s what we charge.
What happens if I don’t want to be locked into a contract?
I understand you don’t want to be locked into a contract and that’s why we offer all of our clients an Easy Exit Listing Agreement. If, at any time, you’re not satisfied with my services, you can fire me on the spot.
What happens if you don’t communicate, take the listing and run, like other agents?
That’s the reason we offer our Communication Guarantee. I will call you every single Tuesday. We’re going to talk about the good, the bad, and the ugly. I don’t care if I don’t have anything to say to you, you’re going to hear my voice every Tuesday.
What are you going to do to market my home? I need an aggressive agent.
I understand. That’s why we have our 89-Point Marketing Plan, to sell your home the fastest and for the most amount of money.
If you can’t offer solutions, you’re toast! You must have solutions for every single prospect’s pain. If you have solutions and you’re able to communicate them with passion and confidence, it’s easy to overcome objections.
#3. Ask more questions
When you get on the phone with your next prospect, you need to ask more questions and find out what their pain is. Every prospect has a pain. You need to know their pain is in order to convert them.
Two types of questions:
– on the surface questions. This is where your competitors are. They never get to the nuts and bolts, the meat and potatoes. They never get to that next level. They’re always on the surface. Why? Because they’re asking surface questions.
the hard questions. This is where the pain is. These are the questions most people don’t ask,either because they’re uncomfortable or they don’t have the confidence to ask.
“Mr. Seller, what could the last agent have done differently to market the property?”
“Well, he could’ve done open houses.”
Right there, I know open houses are important to the prospect and that I have to have a solution to overcome that objection. But, I also know that I have to dig deeper to find the pain. Most agents will just skip to the next question. Not you. You have to dig deep and find where the pain is.
“Well, Mr. Seller, why are open houses important to you?”
“Well, that’s what is going to get the property sold. I’m looking for an aggressive marketer.”
Now, you got the answer! You know he’s looking for an aggressive marketer and you have the solution.
“Mr. Seller, I understand you’re looking for an aggressive marketer, that’s why we have our 89-Point Marketing Plan, so that we can get your property sold for the most amount of money in the fastest time possible. Our sellers absolutely love this program! Now, let me ask you, when do you need to be in Seattle by?”
Here’s a great rule of thumb: If you can, take the conversation three levels deep, where you’re able to reinforce the solution by identifying their pain.
#4. Know your prospect’s desire
They are at point A and they want to go to point B. Point B is victory, it’s success, it’s the gold star of where they want to be. Their destination is their desire. Do you know where they want to be? Do you know how fast they want to get there? You have to know your prospect’s desire. Why? Because between point A and point B, there will be objections and challenges and you want to be able to anchor that in victory. I call it “selling victory.” How can you keep their eye on the prize if you don’t know what that prize is?
“What are you going to do to market my property?”
“If there’s any marketing plan in the business that will get you in Seattle in the next 60 days, it is my 89-Point Marketing Plan. It’s what’s going to get you there fishing before the end of the season.”
The more you sell victory, the easier it is to overcome objections. If we know what the victory is, then we’re able to provide the solutions. Why do you think I always say ‘we can sell your home the fastest and for the most amount of money’? Why? Because that’s what everyone wants to do! I’m anchoring victory every time we’re communicating.
Don’t get down in the weeds, don’t get down in the details. If you do, it leads to more questions, more uncertainty.
So many people lose conversion because they feel the need to get down and dirty with the details. Stay linear on the details. Most people ask questions and have objections because they’re trying to talk themselves out of it, they’re trying to prevent themselves from taking action. You need to know that, and you need to help them make that decision. The less questions that it leads to, the better. Why? Because, let’s face it, the details aren’t important. It’s important that you have a plan, that you have the solution.
What is victory? What is bullseye? What is success to your prospect?
#5. Memorize and internalize your scripts
Know that words are currency. Words are money. If you can take my scripts and use them, and make them your own (internalize), then I succeeded. I know that if I teach you what to say, why to say, how to say it, with the energy you need to say it, you’re going to succeed in the marketplace. When you say those words so many times that they become engrained in you, you’ll never have to worry about another closing again. If it’s in you, it’s reactive. The words just come out of your mouth. That’s when it’s the most authentic. That’s when the most positive vibes come from you. That’s when you look like you’re having fun, you know what you’re talking about, like you’re a force to be reckoned with.
If you’re stuttering and stammering over words and you’re rambling on, talking about things you don’t need to be talking about, and you’re saying them with low energy, that’s when you’re going to hear objections.
#6. Exude confidence, enthusiasm, and positivity
“The only way on Earth to influence another fellow is to talk about what he wants and show him how to get it.”
- Dale Carnegie
: Know what to say, how to say it, and when to say it. If you can say it without having to think about it, they won’t have to second guess you. Confidence is earned. It comes from within.
: The #1 thing the greatest salespeople have. Enthusiasm is what gets people to take the action. We’ve all heard someone say, “Whatever they’re selling, I’m buying!” In face to face interactions, it comes from smiling, hand gestures, carrying yourself with a little speed, walking a little faster. It’s being more fun, less stiff, more loose. Enthusiasm over the phone is laughing, talking a little faster, putting emphasis on certain words. It creates energy. It creates enthusiasm! The more you know your script, the more you can master how to say it.
: Have fun with what you’re doing! If it’s 1 o’clock and you’ve knocked on 80 doors, it’s easy to say, “I’m tired. I’ve been beat up all day. That’s it. This day’s done! I don’t even know why I do this. People don’t even want to talk to me today. It’s hot out here. I’m sweating. It’s humid. I’m going to go get a tea.” Positivity is what pushes you to have the same confidence with the last 20 appointments that you had with the first 80. If you didn’t get it with the first 80, then you know your sales are coming from those last 20, so you better give them the same level of enthusiasm, confidence, and positivity that you had in the beginning before you heard 50 objections. If you haven’t set any appointments in the last three hours, don’t make the next round of calls feeling sorry for yourself. Call those last people with more positivity, enthusiasm and confidence than ever before.
The more consistent you are, the better you’re going to get at it. It doesn’t take a long time. It literally only takes two weeks of consistent effort to get good at converting prospects. You’ll know what to say and have the confidence and tonality to overcome objections.
Keys to Success
Address the objection before it becomes an objection.
Offer unique solutions.
Ask more questions.
Know your prospect’s desire.
Internalize your scripts.
Exude confidence, enthusiasm, and positivity.
Actions to Take
Watch, listen, and learn. Write down 10 to 15 phrases, and create a playlist with some videos on YouTube for each:
We sell homes the fastest and for the most amount of money.
Nobody sells homes quicker than we do in this subdivision.
Our certified pre-owned program sells homes for 4.8% more money and 28 days faster than the MLS average.
Our team outsells other agents 10 to 1.
Thanks very much to Hoss Pratt for his insights on this topic. You can read more at http://www.hosspratt.com/the-art-of-overcoming-objections/