Objections can be broken down into two parts. Part one is the concern of the client or prospect; part two is the solving of that concern. You need to be proficient at approaching each of these parts. Many agents make their mistakes on the first part, which gives them no chance to be successful in the end. They are not focused enough to understand the concerns of the clients or prospects.When you get an objection from buyers or sellers, make sure that you hear clearly what they are saying.
If you interpret the objection wrongly, the answer you give, no matter how eloquent, will not be sufficient to overcome their area of concern. Let me give you a few techniques I have used to turn objections into dollars. I would pause to make sure I clearly understood and repeat what they said or ask them to explain further. This technique will do a few things for me. First, I could confirm what their objection was to insure I had understood it properly. Second, it would enable me to be well prepared when I responded. I had bought myself a few seconds while my brain prepared my answer. I was able to respond in a powerful, well-planned manner. Third, I would avoid the big mistake of trying to answer the objection before the buyer or seller gets the objections completely out of his mouth, as if stopping the buyer or seller from stating the objection completely will stop the objection and it will go away. The objection is legitimate to that person, no matter how ridiculous it may sound. He feels it is legitimate, so it is legitimate. Interrupting can cause the seller or buyer to become irritated with you. It may not matter how well you handle the objection if you interrupt him.
Once you have properly understood and evaluated the client’s concern, you have moved to the solving stage. You need to train yourself mentally to believe that objections are good at this stage. I know that many of you are going to reread that sentence a few times and then decide that I am nuts. But the truth is that if the clients were not interested in what you have to offer, they would not be giving you objections. They would not bother if they were not interested in the home you showed them or interested in having you list their home for sale.
Objections truly are an opportunity to get a signed contract. When a buyer or seller gives you an objection, he is presenting you an opportunity to close. He is basically saying, “I like this, but there is one factor I do not like.” The buyer might say, “If the home you are showing me had a larger patio, it would be right for me.” All you have to do is get him a larger patio and you have made a sale. You must put your problem-solver hat on. If you solve his problem, then you get the opportunity to ask him to buy. The client can say, “Yes,” or give you another objection. If he gives you another objection, you get another opportunity to solve the problem and ask him to buy. This procedure may continue for a few objections. Do not give up; you are getting closer to a sale. As long as you are able to continue to solve his problem the client will buy. Remember, you are the problem solver.
You are the one in control, as long as you continue to ask questions. Your questions will move the client forward to the ultimate decision. The goal is to get a decision out of a client quickly. Even if that decision is “no,” you will have invested the minimum amount of time to get there.
Join the ranks of the highly skilled and highly paid professional realtors. Change your mental approach to objections. View them as the opportunity to make the sale. Make sure first that you clearly understand the objection of the client. Then put on your problem-solving hat and make the sale.