How good are you at answering objections? Do you create a conversation, or do you create a verbal wrestling match?
Do you memorize words easily? I don’t. But, I can remember the important processes if I have a system to hang my mental hat upon. Here’s the process I came up with to help me handle objections. It’s simple, it’s catchy—and it works. How do I know? I’ve trained thousands of agents with this system. It’s in my new agent’s business start up plan, Up and Running in 30 Days and is an integral part of my program for working with sellers, Your Client-Based Marketing System. Read how it works below.
Why Use a Process?
Why not just memorize the right answer and tell the consumer? Well, that’s the short way, but it doesn’t work. Why? Because throwing an answer right back to the seller or buyer sounds like you’re arguing with them. The secret to handling objections is
to use a process.
I know. You want the answer to every objection because you think that’s what you need to be comfortable with buyers and sellers. I believe that’s because of the anxiety that happens when the seller or buyer throws up an objection. The agent’s first thought is panic. Then, she grasps for the first thing that comes to mind—and blurts it out. Or, she stands there with an incredulous look on her face. Agents need not be so concerned about glib answers. What they should be concerned with is that they know the process.
It’s extremely important to use a process in dealing with objections, for several reasons:
- It gives you time to think.
- It gives you more information from the seller.
- It allows you to be a problem-solver with the seller, not an arguer.
The Three-Step Process You Need
Here’s the three-step process. I’ve created an example as I’ve shown you the process. Now, your job is to role play this process with several of the objections you’ve come to know and dread!
Seller: “I want to wait until the interest rates go down, so I’ll have more buyers.”
Agent: “Yes, attracting buyers to your property is important.”
Don’t agree that the seller is right; just agree with the concern.
Agent: “So I’m sure I understand your concern, let me ask you:
What will interest rates do for you?”
Seller: “I think that lower rates will bring more buyers into the market.”
Ask clarifying questions here. Probe. Listen carefully. Many times, you’ll find the objection is just a way for the seller to slow down the process.
Agent; “Yes, lower interest rates do bring more buyers. At the same time, they bring more sellers! Right now, you have less competition. Remember when we looked at the number of homes on the market that competed with yours, and the absorption rate (sales) of homes now? We found that it is a very favorable market for sellers now. I’d hate to wait to find out that you have twice the competition! Does that make sense? Let’s go ahead.”
Armed with a process that works, gives you time to think, and keeps you in harmony with your client assures you move your client through the decision making process gracefully and effectively. Now, go practice!
For dozens of scripts and role-played examples, see