How REALTORS® Can Handle Buyer and Seller Objections Like a Pro

How REALTORS® Can Handle Buyer and Seller Objections Like a Pro

REALTORS® are “yes” people. We want to make things happen.

Yes, we’ll sell your house in six weeks. Yes, this is the house for you. Yes, we’ll take that offer.

Which is why when you, the real estate agent, hear objections from buyers and seller you’re trying to make deals with, you gotta figure out how to turn those no’s, probably not’s and maybe’s… into yeses.

We’re going to help you do just that.

In this post, we’re sharing strategies for handling the most common buyer and seller objections like an absolute pro.

 

1. The Objection: “You Seem Great… But We’re Also Talking to Other Agents”

There’s nothing like acing your listing presentation, only to hear from your prospective client that they still want to interview other REALTORS®. Major buzzkill.

How to respond

First, align yourself with the client.

Tell them that you understand it’s a big decision to make. You want to convey an understanding — and non-pressuring — tone.

Then, ask what qualities and expertise are most important to them in the process of choosing an agent.

Listen thoughtfully to their response and draw connections to your business, whether it be statistics, neighbourhood knowledge, working style or client anecdotes.

Finally, deliver the closing hook. “I think we’d be an excellent match. I get it if you want to continue interviewing, but that does eat up a lot more of your valuable time. So if you feel good about this, I’m ready to hit the ground running today.”

How NOT to respond

Interrogate the client and insult the other agents they plan on meeting with.

They don’t owe you a list of names.

This kind of aggressive behaviour only stands to make you look unprofessional.

If the client is determined to interview more agents, even after you’ve reasoned with them, don’t continue to push.

 

2. The Objection: “We Love the House, But We’re Not Ready to Commit”

You’ve shown your buyers no less than 30 properties. At least 20 of those properties checked all of their boxes. This particular house goes even further, checking boxes they didn’t know they had.

The house is right, the price is right, and the timing is right.

Buuuut now your clients are chickening out from even making an offer.

How to respond

This is all about fear. Your client is scared to commit.

Fear deserves your empathy, not your frustration. Keep that in mind.

Start by assuring your client that the choice is entirely theirs and that you just want to do right by them, whether that means putting an offer in or waiting.

Then, turn on ‘buddy mode.’ Ask them what concerns they have about this house. Talk through those concerns one by one.

After that, it’s time to switch back to REALTOR® mode and bring in the big guns — your experience.

“I understand your hesitation, and I only want to do right by you. As your REALTOR®, it’s my duty to give you guidance based on my expertise and experience in this industry. And I don’t think you’re going to find something better suited for you, at this price point, in this current market, than this home.”

How NOT to respond

There’s no room for your frustration or impatience in this scenario.

When you let your client see that you’re eager to wrap this up, they’re left thinking that you only care about the commission, not about their needs.

Relationship = tarnished. Never make it about wasted time.

 

3. The Objection: “Actually, We Want to List for X Dollars”

Most sellers have already done some basic research by the time they meet with a real estate agent.

They know, at least anecdotally, how much their neighbours’ homes have sold for over the years. They also know how their house stacks up (“our deck has a way nicer view than the Jones’ and their house sold for…”).

Based on your expert knowledge and research, you come in with the listing price you think is right.

But they’re not having it. They have a specific, typically much higher number in mind.

How to respond

Carefully. This is a very common but still tough scenario, even for veteran REALTORS®.

Start by telling them that this is always the trickiest part of listing a house and that you understand they have a number in mind based on what they know about their house and the neighbourhood.

But then you have to take the reins and be the expert. After all, that’s what they hired you to do.

Don’t be timid here.

“I know this neighbourhood and this market really well. And I spend a lot of time researching, in order to be able to price homes so that they’ll sell in a reasonable manner of time while netting the greatest possible profit for the owner. You’re hiring me to sell your home for the most possible money, and that’s what I’m going to do. And I know that this price is the right one to do just that.”

How NOT to respond

By embarrassing them. Don’t make the client feel as though their opinion is laughable (even though it might be).

 

4. The Objection: “We Want to Come in Much Lower”

You found your client’s dream house, and they’re ready to pounce. Yay! Except… they want to make a low-ball offer that you know will offend the seller and get destroyed by competing bids.

How to respond

By tapping into your market knowledge and appealing to their desire for the house.

To begin, let them know that yes, you understand that making an offer is a big financial decision. Then, get serious.

“Based on the market conditions, the quality of this home and the fact that, to be honest, it’s priced fairly, I know that this offer isn’t going to get you a result that you’re happy with. I know that the interest in this home is significant. Your offer will get lost amidst other, more competitive offers. And even if we luck out and are the first to the table, I have to be honest with you — I think the seller will be insulted and not even want to counter.”

How NOT to respond

With anything but a calm demeanour.

Reacting with displeasure is going to put your client on the defensive. The offer might be absolutely bogus, but you shouldn’t tell them that.

Other reactions to avoid: uncomfortable laughter, dismissiveness, or shock.

 

5. The Objection: “We Want to Wait for More Offers”

The open houses went well, and the interest in your client’s home is strong. Strong enough that you’ve received several offers — including a really good one!

But your client doesn’t want to accept it, or any of the others. Ugh.

How to respond

By striking fear into their hearts.

Kidding. Mostly.

You need to gently prove to your client that this offer is a great one.

You also need to explain to them the risks in passing on it; namely, the fact that a better offer is unlikely and that spending longer on the market waiting for offers will reduce the value of and interest in their home.

“My motivation here is to make you happy. A big part of that is making sure you get the most possible money for your home. And I think this offer is it. It’s an excellent offer, reasons being [insert the specific reasons here]. As your real estate agent, it’s my job to tell you that by rejecting this offer, we’re taking on a huge risk. The likelihood of another, better offer coming through is slim. If we wait and wait for it, the perceived value of your home will also go down.”

How NOT to respond

Don’t instantly move to pressuring them. No one likes to be backed into a corner, especially when it has to do with something as personal and significant as selling a home.

Stay away from phrases like “terrible idea,” “you’d be a fool not to,” “wasting time,” and “you NEED to.”

 

What objection do YOU most commonly hear from clients? How do you handle it? We’d love to see!

 

 

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