Then learn to do an awesome presentation that includes some simple objection handling strategies and techniques to win every time. Here are the 3 most common objections that Sellers will throw at you.
3. I want to wait
Pricing the home correctly
Pricing is always a big deal to a Seller and it should be. This home is their investment. They have invested heart, soul and in most cases a lot of money with improvements and updates in their home. So when I suggest a good selling price and they get rather emotional about it because they feel their home is worth more, I simply pull out some of my well-worn, trusty objection handling scripts to help them understand why it is important to price correctly and help them get past their concerns.
First, remember your responses to their objections should be said respectfully and with empathy. Really listen to what they have to say back to you while conversing with them and NEVER ARGUE. Then continue showing them why the price should be $___________. You should always be circling them back to their motivation, which is the “why” they want to move.
The ultimate goal
My goal for the client is to always get them the most money possible for their home, so my scripts are designed for that. I am not trying to force anyone to do something they don’t want to do, but I gently remind them that you are hiring me to get the job done in a timely manner and that we don’t want to drag this out to the point we begin to lose traction and ultimately your money. I then reinstate that I will always be working to get them the most money possible. The Seller really wants to know you are on his side even though the news may not be what he wants to hear.
Do be firm and confident when presenting your market analysis (CMA) and assure them that your presentation is just the facts based on your research with MLS and other resources that only Realtors are access to. Add in that your personal experience in the real estate market accounts for at least half of how effectively you can work for them. So what if you are a brand new agent? Take an experienced agent with you to learn from or if that’s not possible then study and internalize the scripts like crazy so you will be polished and ready.
You are worth the commission
Commission is right up there with pricing the home correctly because really it all has to do with the big “M” ….MONEY! Sellers want the most money for their home and for the least amount of money out of pocket to get it sold. This has never changed and never will! Your job is to provide a presentation showing how you will give exceptional value to sell their home and earn the commission.
This is the place where I remind you to be aware that online companies are trying to replace you with streamlined, discounted services to sell homes so you MUST lead the crowd and prove your value. You must show you are very valuable to them as your client when they hire you. You must state that your #1 priority will be to get them all the money possible in the least amount of time with little or no hassles. And then stand behind your word! (That is actually a script). They need to be assured that if they are paying a lot of money to get the job done for them that you can be trusted and have the capability to do it. Make them aware that this is a serious transaction that can be damaged with the wrong selection of the Realtor who will be selling it. Loss of time, money and legal issues can occur if the transaction is not handled properly.
get over yourself
If you think all this sounds corny or over dramatic, get over yourself. I use these scripts all the time and I mean it when I say it. I also tell my clients if “I can’t sell your home….no one can”, so I am worth what you pay me.! I have never had a client think I am egotistical or arrogant because I say it with conviction and confidence. I WANT to do the best job I can for all my clients!!
I also tell them that I provide extra services such as staging, and HD photography, plus a vendor’s resource list for them to reference if work around the home is needed. I express to the Seller that I will consistently be negotiating for them throughout the entire transaction to make sure they get the best deal! “Although we use a heavy amount of online presence to market and advertise your home, we also take a boots on the ground approach implementing other systems that are tried and true that work to sell your home.”
Look for these signs
“I want to wait” — Waiting to list their home after a comprehensive, detailed market analysis is usually a sign of a 3 things.
1. They either are not motivated to sell right now or
2. They are interviewing other agents and they don’t want to tell you.
Sellers will use your expertise and knowledge to get information from time to time, however, if you experience these first two objections you most likely did not do a good job asking about their motivation before heading out on the appointment. Please ask about their time frame to move and if they are interviewing other agents when they call in to make the appointment which will save you a lot of frustration and disappointment.
3. You can see they aren’t quite convinced to sign on the dotted line. In this case your presentation was lacking something. These ideas or hesitations could be going through their heads:
a. They did not like what you had to say
b. Did not connect with you or
c. Felt you lacked confidence and told you, they would get back to you. When this happens, you need to go into question asking mode. Here are a some effective questions to ask the client:
“I want to wait” Script
Agent- “Hmmm, you want to wait? Oh I understood from our phone conversation you were ready to get your home on the market? Did something change? “(Listen to their response)
Agent- “Oh, It seems you are a little hesitant and want to wait? Do we need to go back over some of the details to get you the right answers for you OR Do you have more concerns or questions we need to address to make you feel at ease?”
Again, always get back to the Seller’s motivation as to why they want to move and ask lots of questions to determine what information is missing and why they are holding back.
Practice these very crucial objection handling scripts and you’ll be a Million Dollar Producer in no time.
If you need more ‘Scripts for Success’ and are ready to elevate your business; email me at email@example.com to be added to my new online coaching course wait list!