How to flip the script on sales objections

When it comes to working with clients, mastering the art of effective communication is vital. By consistently following through, being clear, and listening well, your skilled communications are sure to build that all-important trust that leads to long-term success. But what happens when real estate sales objections begin to feel like roadblocks? Do you push back? Push through? On the contrary, you lean in. Weichert® will show you how.

 

Let’s start by looking at some common objections of clients these days:

Buyers

• Affordability: Rising interest rates, high home prices, and property taxes can make homeownership seem out of reach.
• Uncertainty: Concerns about market fluctuations, job security, and economic conditions can make buyers hesitant to commit.
• Inspection concerns: Worries about potential hidden defects or costly repairs can dampen buyers’ enthusiasm.
• Timing: Personal or professional circumstances, such as job changes or family additions, can make the timing of a home purchase challenging.

Sellers

• Pricing: Concerns about pricing their home correctly to attract buyers while maximizing profit.
• Market conditions: Worrying about a slow market or declining property values.
• Emotional attachment: Difficulty detaching from their home emotionally, which can hinder negotiations.
• Selling process: Concerns about the time and effort involved in preparing a home for sale, staging, and showings.

 

Regardless of the sales objection, you can always lean into the following three techniques.

1. Listen actively and empathetically

Seek to really understand the underlying concern and try to see things from your client’s perspective. Acknowledge their feelings and ask open-ended questions to help you gain a deeper understanding of their objection. Maintain your calm composure and do your best to be present in the moment.

2. Address the objection directly

By being honest and transparent with your responses, you build trust. Avoid evasive tactics or information that may cause confusion. Instead, provide proof points, such as supporting facts and figures to help clients process information. Offer solutions or even alternatives that may address their concerns. For example, a response from you that begins with, “Here’s an idea you might consider … ” can come across as honest, caring, and low pressure. And use storytelling to help cast light on their concerns. Draw from your professional experiences to help them see that their objections are common. Give examples of how everything came together for other clients you’ve worked with through the years.

3. Build trust and rapport

Show genuine interest to demonstrate that you care about their needs. Continue to use your knowledge and professionalism to showcase your expertise in the field. And be patient. Giving clients the time they need to process and make decisions shows you’re focused on their needs.

 

Sample scripts to help you turn sales objections into opportunities

Objection: “The price is too high.”
Response: “I understand your concern about the price. Let’s discuss some options to make it more affordable. Perhaps we could negotiate on the closing costs or explore financing options.”

 

Objection: “I can’t afford this property.”
Response: “Let’s explore your financial situation together. We can discuss potential financing options, such as mortgages, down payment assistance programs, or other strategies to make this property more attainable.”

 

Objection: “The closing costs are too high.”
Response: “Closing costs can vary. We can work with a lender to get you an estimate and discuss options for potentially reducing them. Additionally, some sellers may be willing to contribute to closing costs.”

 

Objection: “The property needs too much work.”
Response: “While the property may require some updates, it offers a great foundation for creating your dream home. We can discuss potential renovation costs and potential tax benefits associated with home improvements.”

 

Objection: “The location isn’t ideal.”
Response: “Let’s explore the benefits of this location. Consider factors like proximity to schools, amenities, transportation, and future development plans. Sometimes, a slightly different location can offer significant advantages.”

 

Objection: “I need to sell my current home first.”
Response: “We can discuss strategies to help you sell your current home quickly, such as pricing it competitively, staging effectively, and utilizing professional photography. Additionally, we can explore options for bridge financing if needed.”

 

Objection: “I’m not ready to commit right now.”
Response: “I understand. Let’s stay in touch, and I can keep you updated on similar properties that may become available in the future. We can also discuss your timeline and preferences to help you make an informed decision.”

 

Remember, the key to addressing sales objections is to listen actively, understand the client’s concerns, and provide informative and helpful solutions. Building trust and rapport is essential in overcoming objections and closing deals. Sales objections will vary, but your approach can always be consistent and clear.

Reach out to Weichert to learn more about how we support our affiliates to turn sales objections into opportunities.