The 4 Most Common "Objections" and How to Handle Them
Your phone ringing off the hook is usually a very good problem to have. Unless you lack the experience to move through your calls quickly. Quite a few of my clients have been experiencing this problem lately with the Spring Fever that precedes the Summer Sell Off Madness.
Having answered this very same question several times this week, I thought I'd write a post on it to refer people to. There are many objections a potential seller may raise, but these are far and away the most common.
But before reading further, take a moment to absorb and become comfortable with these facts:
- Not every call is a lead
- not every lead is a deal
- the phone WILL ring again
Once you internalize that then dealing with these objections becomes pretty straight forward:
How did you get my name :
- (glad you asked) Public records. When I see a house or neighborhood that interests me I do a little research at the county appraisers office. If I like what I see, I send a letter. (then back to the script) So tell me, do you have a house for sale?
- (nonchalantly...no biggie) I haven't done a good job this year of keeping track because a friend of mine helps manage all of my mail. Would you like me to have him call you? No? (then back to the script) So tell me, do you have a house for sale?
- (humor) I'm sorry Bob, I could tell you but then my secret would be out.....(then back to the script) But please tell me, would it keep you from selling me your house?
- Ahh, I see. Well I do thank you for your ti....oh, wait a minute....did you mean not interested in selling or not interested in making some money by telling me who might be? (ALWAYS ask for the referral. If you don't ask, you won't get it. Marketing is cumulative; turn these folks into your bird dogs)
Take me off your list
- Yessir, I'd be glad to. Have you had a lot of interest in the house? A lot of mail? Uh huh, I see....so I guess you wouldn't be interested in making $500 for putting me in touch with folks who may be needing to sell in your neighborhood?
Listed for sale in MLS
- How long has it been listed? And for what price? Did you start there or was it higher originally? Really? Well Bob your house sounds like something we’d be interested in buying and if we did, we could close quickly, in a matter of days.Unfortunately, we don’t buy listed properties. When is your listing set to expire? Well, I’ll be glad to put you into our system and give you a call back after that date if you’d like. Or if something changes and you decide to withdraw the listing, give us a call ok?
Make me an offer.
- How about a dollar? No? What's your counter?
- I simply have too many prospects to work with to waste time on those I can't buy. If you'll tell me what you're asking, I'll know quickly if we can do business. Is that fair?
- Well, I'd love to, you just haven't given me anything to work with. A blind offer would be pretty meaningless don't you think? You have a number in mind. You know I'm an investor. I can’t make an offer until I see the houses. I’d love to meet with you. But I need to know what’s the best you can do if I paid you all cash, took the houses “as is” and closed on any date you choose. What ‘s your bottom line? Give me a reason to get involved. What would be the least you could consider?”
That's all there is to it...
Of course, this isn't exhaustive, but it gives you an idea of the different directions you can go in. Did you notice a commonality? Asking a question puts you back in control of the conversation. If no other question presents itself, "does that sound fair?" will usually work. Ultimately, you will want to ask a question that leads directly back into the script.