Welcome back to Farm Friday! As a real estate agent, you’ve got to be prepared for anything and everything. You’re in a people business, and people can be unpredictable. One of the hardest things for new agents to handle is a conflict with their clients. For example, what do you do if your seller disagrees with how you’re marketing their listing? Here are some things to keep in mind when handling seller objections.
It’s Not About You
It bears repeating: it’s not about you. When dealing with a client who has an objection, it’s important to remember that this person isn’t trying to get back at you or make you look bad. They want to have a conversation about something they feel strongly about. It may even seem like they’re trying to “get” you. But don’t let them intimidate you or take advantage of you. Remember, they’re paying you to help them sell their home. If you try to convince them otherwise, you’ll only lose their trust and respect.
Listen Carefully
Listen carefully before responding when someone objects to something you’re saying or doing. This will give you an idea of where they’re coming from. Also, it will allow you to respond more appropriately. After all, you don’t want to come off as defensive or argumentative. Instead, it would help if you focused on listening. By asking questions, you’ll show that you care about what they have to say and that you value their opinion.
Common Seller Objections
Here are some common objections sellers have. What do you think? Do any of these sound familiar?
“I’m not interested in selling my house right now.”
If your potential client says this, it could mean one of two things: 1) they aren’t ready to sell yet; 2) they have another offer. Either way, it’s best to ask why they haven’t sold yet. Sometimes, they need time to decide whether or not to move forward. Other times, they might be waiting for a better offer. Whatever the reason, you shouldn’t assume that they’re not interested in selling. Ask them again later, once they’ve had time to consider their options.
“The price seems too high.”
This is probably the most common objection you’ll hear. However, there are ways to deal with it effectively. First, don’t panic! Just because your client thinks your commission is too high doesn’t necessarily mean they won’t list with you. Take time to explain the services you will provide and why those services are worth the money. Next, find out exactly what they think the market rate is for their area. Then, discuss the difference between your commission and the market rate. Finally, suggest a number that works for both of you.
“Our friend is a Realtor.”
This is usually a good sign. It means that the seller knows someone else who sells houses. That person could be a family member, a neighbor, or a friend. The point is that the seller trusts this person enough to list their home with them. However, it’s an excellent opportunity to explain why you are the best agent to sell your home. You can also use this information to build rapport with the client. Explain how much you know about the neighborhood, schools, and other local amenities. Show them that you understand their needs and concerns.
“We already listed our house.”
Again, if your potential client says this to you, it could mean either of two things: 1 ) they didn’t list their house yet, or 2) they did but no longer want to sell. In either case, it’s best to check with them first. If they still want to list, then great! If not, then you’ll need to find out why. Maybe they found a buyer. Or perhaps they decided to wait until prices were more attractive. Regardless of the reason, you’ll need to respect their decision.
“My Realtor friend told me I should only accept $20,000 over the listing price.”
It’s important to remember that the listing price isn’t set in stone. It’s just the starting point at which you agree to work together. Once you reach an agreement, you can negotiate different terms. Make sure you explain again why you are the best agent for their home and what you expect from selling the property.
“I’m looking for a quick sale.”
If your potential client says this when discussing their reasons for wanting to sell quickly, they may have a short-term goal in mind. For example, perhaps they want to buy a new home after selling. They may also be trying to avoid paying real estate taxes during the off-season. No matter the reason, it’s best to talk about these issues as soon as possible. Otherwise, you risk losing out on the chance to earn a more significant commission.
Going through the sales process with clients is different every time. Each client has their unique perspectives and goals in mind. When faced with a sales objection or a price objection from a seller client, it’s best to keep the above tips in mind and make sure you tailor your responses to the individual you are speaking to. Make sure to always tell your potential customer how you can be their best resource for a successful sale of their home.
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