Handling Objections

Posted on January 2, 2013 by AAR

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by David Compton

Listed here are some suggested responses to common objections of sellers during your listing presentation:
“I have a friend in the business.”

  • acknowledge that you understand why they would feel obligated.
  • ask how they would feel if they had to fire their friend like they could with us.
  • ask how comfortable they feel about sharing certain delicate information about themselves with their friends.
  • emphasize the importance of your marketing plan and that their friend should have also prepared one that is as aggressive as yours.
  • ask if their friend is full-time in the business.
  • compare your “sold” statistics with their friends.

“I want to interview other agents.”

  • acknowledge that it would be a “good idea.”
  • remember to keep the recruiting letters that you receive from other agents and to show them to the seller
  • use your “sold” comparisons and make sure that it has the companies that you’ve received recruiting letters from.
  • show them your marketing plan.

“I’ll pay you XXX percent; that’s what your competition offered”

  • review the services you offer and your marketing plan.
  • emphasize what you offer that the competitor(s) don’t.
  • relate this question to negotiating skills (i.e., “Mr. Ms. Seller, if they’re willing to give such a generous concession with their fee, how confident do you feel about their ability to negotiate on your behalf? We negotiate very vigorously to get you the best price obtainable in the shortest time with the least inconvenience”)
  • emphasize (delicately) the necessity of motivating other agents to show the property and how its an integral part of your marketing plan (which homes will agents show first – the homes offering a higher split or lower split?)
  • point out to them that your manager/broker will not approve the listing without a XXX percent marketing fee.
  • ask them what part of your marketing their home would they like to eliminate to compensate for the income reduction.
  • explain seller who actually shares in the commission (the listing agent, the selling agent and possible the broker).
  • ask the seller if they would do their job for less money.

“I don’t want a sign in my yard; the neighbors are nosy and people would drop by at inconvenient times”

  • let them know that the sign is a very integral part of your effective marketing system.
  • emphasize that the neighbors are one of the best resources in getting a property sold. They might have a friend or relative whom they want as a neighbor.
  • let them know you can put a rider on the sign that will say “shown by appointment only.”
  • emphasize that your best floor calls usually come off the signs rather than the ads. The people calling are usually seriously interested.
  • emphasize that your firm’s sign is recognized throughout your market and will give their home more credibility in the marketplace.

“I don’t want a lockbox”

  • show them how the system works and the security system’s function in conjunction with it. Emphasize that the system keeps a record of who has had access to the property.
  • stress the importance of making their property accessible and that making it as convenient as possible for other agents to show it will give them more exposure.
  • be prepared to suggest an alternative location for the lockbox like the hose bib of the side

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