Real Estate - Objections

Question 1

What are the 4 steps to handling objections?

Answer 1

1. Repeat
2. Approve
3. Ask Next Questions on Script
4. Close

Question 2

You’re the 50th realtor that’s called me.

Answer 2

50 calls! Ouch! Can I tell you why that’s so amazing? (Yes)
Did you know there are 15,000 realtors in San Diego and only 50 of us cared enough to give you a call? Isn’t that the kind of agent you want when you list your home?

Question 3

We’ve decided not to sell.

Answer 3

Here’s what I know, _________. No one is on the market for 122 days without a good reason. What was your reason? Where were you going?

No one goes through the trouble of being for sale without a good reason. What was your reason? Where were you going?

Question 4

I’m going to use the same agent. He worked hard.

Answer 4

• -Oh I guarantee you they did. At the same time, if what they were doing worked, we wouldn’t be talking right now. All I’m suggesting is a fresh… perspective on what it’s going to take to get the home sold. You may decide after we talk you still want to go back with the same agent and that’s fine.
• -I’m sure this other agent has done everything they can to get it sold and yet it still hasn’t sold. So obviously it makes sense to get another perspective on why… it hasn’t sold and I can do that this afternoon or this evening. Which would you prefer?

Question 5

I’m going to take it off the market for a little while.

Answer 5

• -I understand completely. Obviously, it sounds like if you could get this home sold tomorrow, you guys still want to go to Oregon, right? (Oh Yeah, we do.)
• -Great, and of course, if you knew what stopped the home from selling, you would have already fixed it.
• -So all I’m suggesting is let me just look at it from a fresh perspective… Okay, no obligation whatsoever. I just want to give you a fresh perspective of what I see could be done to get this home sold and get you to Oregon.
• -How about sometime this evening? Would you be available?

Question 6

Common Sense Close

Answer 6

Hey listen, it sounds like you still want to get the house sold and if you knew what it was going to take to get it sold, you would have already done that. Why don’t I just come by and give you a fresh set of eyes… there’s no obligation… I just want to give you a second opinion on what I think it’s going to take to get the house sold. I can swing by this afternoon or this evening. Which is better for you?

Question 7

I’m going to take it off the market for a little while.

Answer 7

Sure, I understand completely. And at the same time, you guys want to get to Oregon. You want to get closer to your grandkids. And if you knew… why the house didn’t sold, you would have already fixed it and the house would have been long sold.
–All I’m suggesting is let me stop by and give you a second opinion, just a fresh… perspective… on what I believe it’s going to take to get your home sold. There’s no obligation whatsoever. I can stop by this afternoon or I can stop by this evening. Which is going to work better for you?

Question 8

They were willing to cut their commission. Will you cut yours?

Answer 8

Here’s the thing. They didn’t charge you a dime because they didn’t get the house sold. The first thing we need to do is what’s it going to take to get the house sold and then we can iron things out from there. I can stop by this afternoon or see you this evening. Which is better for you?

Question 9

We want to wait, take a breather.

Answer 9

• -I don’t blame you and that may ultimately be what you decide you to do. But at this point, we need to figure out what’s it going to take, why didn’t the house and what’s it going to take to get it sold. Once you know that, you can wait as long as you want to put it back on the market.
• -But like I said, if you knew why it hadn’t sold, you would have already fixed it. And it would have long been sold. Let’s figure out what needs to be done to get it sold. Now I can stop by this afternoon or this evening. Which is better for you?

Question 10

The realtor is a family member.

Answer 10

Just curious, do you want someone who will get you the most money or is this something you’d rather have less money to keep the piece in the family?

Question 11

We are going to use the same agent.

Answer 11

Do you feel they did everything they did to get your home sold? (Yes)

Question 12

Why didn’t you show my home when it was on the market?

Answer 12

I appreciate your question. I get asked that a lot actually and it was nothing personal against your home. There are over 6,000 homes on the market right now and when I have a buyer, I show them the homes I have listed for my clients first as they are my priority. And for some reason none of my listings are right for my buyer, I have to choose 2-3 of the 6,000…

Question 13

The realtor is a friend of mine and I’d hate to upset her. (nervous energy)

Answer 13

I can appreciate your relationship with her. Here’s the thing I want you to think about. She had your home on the listed for X number of months and didn’t get it sold. And you actually showed her the courtesy of giving her the first opportunity to sell it for you didn’t you? (Yeah, I did) and she didn’t get it done. So you have nothing to feel guilty about. You gave her the first opportunity and she didn’t get it done. And you need this home sold don’t you, Ryan? (Yeah I do). It sounds like it’s time to take a fresh approach and get a different perspective on what it’s going to take to get it sold. So let me get your signature right here so I can get started for you.

Question 14

We want to fix up some small things before we put it on the market.

Answer 14

Ryan, I can appreciate that but none of those things are going to keep the house from selling. Those are just little things. You know what’s more important is the timing. Because right now the market is really good but we are still prior to all of the inventory really hitting the market. Within the next 30-60 days you’re going to have a lot more homes go up for sale. More competition means it’s going to be more of a challenge to get your home sold, wouldn’t you agree? (Yeah) So it’s more important we get your home on the market now before everyone else does. And these little things, hey… you’re going to take care of those. That’s not going to keep your house from selling. Like I said, if someone was willing to put a contract on your house tomorrow at a price you’re happy with, would you sign it? (Yeah, I would) Great, I figured you’d say yes. So therefore, we need to go ahead and get this home on the market and take advantage of this time of the year and get gong with it. Let me get your signature right here. Do you see where I have that highlighted? (Yeah) Sign right there please.

Question 15

John, whenever we sell your home you’re going to wind up with 3 checks.

Answer 15

1 You’re going to get the proceeds check. You’re also going to get the refund of your escrow account that will come back 2-3 weeks after closing. And #3 you’re going to want to cancel your home owner’s insurance and you’re going to be refunded the unused portion of your home owner’s insurance. So realistically you’re probably looking at another few thousand dollars more than the proceeds. If I could do that for you, would that work for you? (Yeah) Great! So let me get your signature here where I have it highlighted.

Question 16

If they suggest a price that is too high. It’s worth $635k and they believe it’s worth $695k.

If it’s someone who absolutely has to sell, he’ll take it at $695k every time. He will very quickly be coming back to them for a price reduction because he has a signed contract.

Answer 16

I can appreciate that. Nothing would make me happier than to get you $695k. However when we look at these other homes that have sold we can see what they’re indicating is a price that’s nowhere near that. Ultimately, you’re house is worth what someone is willing to pay you for it, right? (Yeah) So here’s the thing when it comes to a buyer, you want to get a top dollar price for your house, right? (Yeah) The way to do that is not to ask a really high price because when it comes to the buyer, you’re not going to fool them. You’re absolutely not going to fool the buyer. The buyer is going to know how much the home is worth because they’re going to be looking at other homes that are in competition to yours and they’re going to be comparing one to the next. Just like you guys would do. So if they looked at all these homes that were in the lower 6’s and here’s yours in almost 700’s, what do you they’re going to think? (Ours is nicer)

Question 17

Our house is nicer than the comps.

Answer 17

Here’s the thing, Ryan. I can appreciate where you’re coming from and by the way, this is a very common discussion I have with people selling their home. Everyone thinks that their home is the nicest. The one value you are placing on it that no one else can place is that it’s your home; the emotional value. But the buying public is not willing to pay for that because its not their home yet. Does that make sense? (Yeah I can see that). It’s your house; we’ll price it wherever you want. I know this though… If we over price the house , it’s not going to get shown, it’s not going to get sold and ultimately will cause it to sit on the market longer than it should which means it will sell for less. And that’s not what we’re after, right? (We’re not in a hurry)

Question 18

We’re not in a hurry so we want to price it high.

Answer 18

I can appreciate that and I’m going to recommend though that we approach it as if you are in a hurry because that’s the way to get the best price. If you price it to cause the house to sit on the market a long time… Well think about it this way. Here’s two scenarios: You look at a house you really like that’s been on the market a week. Another house you like has been on the market for 3 months. Which one do you feel the greater sense of urgency to be aggressive about buying? (One week). Exactly. And so if you saw a house that had been on the market 3 months and hadn’t sold, how much pressure would you feel to make a really aggressive offer on that house? (Probably none) Exactly. And we don’t want people to feel that way about your house, do we? (No, not really) Make sense? (Yes) Ryan, one thing I can always promise you is I’m going to always look you in the eye and tell you the truth. And I’m going to have your best interest at heart. But that doesn’t mean that I’m always going to tell you what you want to hear. And this is one of those cases that you need to hear that $695k is too high and it’s going to cost you money if you price it that high.