Buyer/Seller Objections & Succeed In Any Market

Ever notice how some people flourish in almost any economy and environment?  We have all seen this in our daily lives, people who just seem to have that extra something but it’s not always 100% clear of what “it” is.

If you look at the “it” in sales, yes I said it, sales; the word we don’t like to use but let’s face it as Realtors we are in sales.  The key with sales is not to sell, you heard me, don’t sell.  You see if you're in sell mode the way the world preserves “sales’ you would be in slick wily mode.  You know the guy, all about the money, the deal and looking to line his or her pocket with the all mighty dollar.  Not the place you want to be to succeed.

So if I don’t “sell” and I want to succeed what do I do?  Shut up and listen and when you’re done listening ask questions so you can listen more.  The method of success in the real estate business is to listen, ask questions and listen some more.  The key is to ask the right questions to those so called objections, this is where the road splits and you’re either going to succeed or you’re not.

Let's take a look at the common objection we as Realtors get and see how we can change our outlook to succeed, oh and one last point if you think succeed is to ‘sell better" you’re wrong again.  To succeed is to do the right thing by your clients needs and in the end you will be rewarded with payment but that comes naturally.  Do the right thing for your clients needs by asking the right questions and you will advance, push and sell hungry and you will starve, it’s that simple.

The roadblocks some agents fail to move past are the dreaded objections, you know, the things that make you look like the deer in the headlights and have you saying “ahmm” like you’re chanting to the real estate Gods for help from above.  They're not objections by the way, they are questions you need to address, let’s take a look.

Common Seller objections:

• “I want to think it over and I will get back to you tomorrow”
• “The other guy will do it for “x” commission”
• “I want an open house every Sunday while we are for sale because my neighbor said that was the way to go”
• “I need to interview 2 or 3 more agents before I decide”
• “I want to list it $25,000 higher than you suggest”
• “I think my home is better than your comparable”

Common Buyer objections:

• “I only want to work with the listing agent”
• “I want to look at 20 more homes”
• “I may just wait 6 months”
• “I don’t want to speak to a loan officer now, I want to look at homes first because I know my credit is fine”
• “I do not want to sign any buyer contract”

These are just some of the common so called objections that stump many agents.  Good news is they shouldn't stump you and these are not objections, they're questions you need to answer.  For example:

1. “I want to think it over and I will get back to you tomorrow”

I know many agents, who would shake hands, make some pleasantries like “thanks for having me over and please let me know” then leave.  What!!?  Wrong move.  I would suggest you ask:

• May I ask what you will know tomorrow you don’t know today (OR)
• I can understand that, making a decision on selling a home is hard enough let alone selecting the right agent.  May I ask what you need to think about? (OR)
• No problem, I want you to feel 100% comfortable with me and your decision, may I ask what you will be thinking about? (OR)
• When I arrived you had stated that you needed to sell in the next 30days and that you wanted to hire a local Realtor and that’s how you happen to call me.  Is there any unanswered, questions or concerns left on the table I have not addresses, be honest, it’s OK.

Now there are others but if you look closely at the “replies” you will notice one thing, there questions.  Without questions you get no answers.  Without answers you don’t know what to provide and you will be provided the fastest route to the door as they say good-bye.

We could spend all day discussing the various objections and the best way to handle them but there is only so much room on this post.  Bottom line is to listen to your customers needs, it’s about them, their equity, families and livelihoods not about how great you are and you laundry lists of designations. 

If you have any good suggestions for agents working with buyers or sellers you are willing to share I would love to hear them.  Real Estate is a great business and there are so many talented, great agents out there it would be cool to hear some other advise.  Thanks for reading and go make it a better day than you expected!

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