Three Common Real Estate Objections and How to Handle Them
The best Realtors navigate house buying and selling objections with James Bond (or Charlize Theron) like class and elegance. Objections really boil down into two main categories, and these categories are the root of every other reason buyers and sellers provide:
- I don’t understand the value and I’m too busy to think about it.
- I’m not ready for a buying conversation.
If you get a handle on these root objections, it will catapult your ability to address their concerns and keep the dialogue open. What follows are a few more common objections and potential rebuttals.
You’re too busy, you have so many listings.
“The advantage to the more listings I have, the more signs I have on the street, the more calls I get from buyers. Did you know most of those buyers don’t buy the house they call about and ask to be shown other homes like yours?”
Would you reduce your commission? If I must take that much of a hit, I’ll just sell it myself.
“I can appreciate your frustration, but the reality is agents with resources work hard to sell homes, selling it yourself has more steps than you might realize, and I can create more competition through the brokerage community.”
“Agents prefer to show homes that are listed with professional agents who know how to get deals closed.”
“I understand, but I hate to see you lose a sale because a legal aspect was overlooked and the transaction didn’t get done.”
(For buyers) “The good news is that as the buyer, you don’t have to pay me a commission.”
We have a good friend in the business.”
“I can appreciate that, pretty much everyone knows a real estate agent. Did you know that 90% of the sales in our market are handled by just 10% of the agents? Is your friend in the 10%?”
“I hear you. Do you feel obligated to have your relative/friend represent you, or are you able to freely choose who you work with to find your next home?”
“I understand. My only question is, are you willing to risk your relationship if the job doesn’t get done? One of the benefits to working with me is I’m an objective professional that works for you.”
Remember, no matter how frustrating it can be to hear objections, never say “but” and always empathize and agree.
- “I can appreciate that…” (Even if you don’t).
- “I agree…” (The customer is always right, no matter how misguided or misinformed).
- “I understand…” (Make sure you really do).
- “That’s a valid concern…” (Even if it isn’t. After all, it’s your job to address any perceived concerns
Never underestimate the power of humor to break the ice, remove the “salesperson” label and make an authentic connection. I’ll never forget a realtor I met at an open house who parried my panicked objection of “I’m just looking, not ready to buy.” With a wry, “If I had a nickel….I could buy a better suit.”
I didn’t buy a home that day, but I appreciated his humour, kept his card and when I am ready to buy, I’ll call him first.