Ten Tips When Working With Objections
1. Remember, there is a direct connection between the amount of objections you receive and the strength and quality of your presentation.
A strong, convincing presentation eliminates doubt and encourages interest in hiring you. How convincing are you? Do you have work to do in this area? Or, maybe you could consider turning it down a notch in this area? If you were the seller, would you be compelled to hire you?
People love to buy, give them something they’ll be comfortable “buying” into.
An efficient presentation will inform/educate while answering questions the seller has in mind that don’t have to be brought up in the form of objections.
2. An objection is a question in the mind of the customer that remains unanswered … answer their questions.
Point being, sometimes we take a simple objection and blow it up to be a 50-foot monster.
Our ability to remain calm will come from knowing what to say - practice more. There is NO excuse for not knowing what to say other than not making a point of practicing and being prepared to win.
Just realize there is more information the seller needs, give them more info. People make decisions differently. Some personality styles need more information; some need less. C’s are going to be slow to make a decision as their #1 fear is making a mistake. Where D’s will tend to make decisions quickly.
Don’t become frustrated with objections, rather focus on coming from contribution, remain calm, patient, and their questions while being true to your standards.
3. You don’t have to have a lot of different answers to the objections that you receive. You just need two or three responses to the most common ones you hear.
Accept that their is a learning curve, it isn’t going to happen overnight.
To learn the answers, take one objection per week and write out two or three ways of handling it, practice it and role play it until it is committed to memory.
Once you learn how to respond, it will remain with over your entire career.
Most agents overlook this tip; it’s just like riding a bike...you never forget how.
4. A condition is a statement of fact that you can do nothing about … move on.
Do you know how to identify the difference between an objection and a condition?
Not even the best agents in the industry can overcome a condition.
It’s important to be careful not to beat yourself up, or second guess your ability to when working with objections...be sure you weren’t attempting to overcome a condition.
An example of a condition: we’d list with you, but we are waiting for the probate to be finalized in court. OR I’d list with you, but my Mom’s asked me to work with her best friend. Objection: I like you, and we’d like to list with you, but the other agent offered to take a reduced commission. OR I will give you the listing, but I will only sign a listing for 30 days. It’s our ability to know how to identify one from the other and being prepared to respond to the most common objections.
5. “Thinking it over” is not an objection. It is the smoke screen for what is really concerning the seller. Question them … find out if it is commission, price, etc.
Attempt to flush out what’s on the seller’s mind by asking…”tell me more about that” ok…”I want to be sure I understand, what exactly do you mean?”
Often talking things out can clarify what may have been a simple misunderstanding. Assumptions often break down communication.
Keep in mind the seller may not be receiving or absorbing all the information you are sharing with them. They may have had their guard up during your presentation and not processed everything you’ve said.
6. When handling objections, always agree, always smile, always nod your head and never argue.
Remember not to argue because it puts the prospect on the defense and makes it more difficult to get the contract signed. There’s a saying “a person convinced against their will is of the same opinion still.”
This is where we need to be really careful to control our emotions, facial features and tone of voice. 55% of communication is your body language.
Instead of becoming frustrated or fearful, put yourself in the seller’s shoes and seek to understand where they are coming from. They don’t do this on a daily basis like you do and may need someone like yourself to come along and fill in the gaps with solid and accurate information. Have the heart of a teacher.
7. Keep the toughest objections and answers that you receive posted in your prospecting area … so that you have an immediate response.
They can’t see you or that you are reading them.
Learn how to read them to sound conversational vs. like you are reading a script
This is a great way to reduce stress and allow you to remain focused.
8. In most cases, they won’t ask you a question or give you an objection if they weren’t considering working with you.
This is a good sign, don’t panic and work through it. Use the following to buy yourself time if needed “I appreciate you bringing that up if you would, can you tell me more about exactly what you’re saying?”
Re-frame this to now be a buying sign instead of a problem.
Remember to respond to the objection and then close for commitment. Handle and ask for a commitment. It’s ok if it feels a little uncomfortable, that’s normal.
9. There are only so many objections, determine which ones are most common in your market and have your best responses committed to memory.
Since 1991 I haven’t come across many “new ones.”
If you were to make a list of ALL the top objections you could possibly think of, you would likely have a less than 10. It’s probably closer to 6-7 very common ones that come up over and over again.
Stop reacting, start responding. Make a point of learning how you are going to go about these on the list. Since we have found the list doesn’t change, anyone (with the desire) is no more than a few months away from having a better handle on this part of their business for the rest of your career.
10. The only way to build confidence when handling objections is through consistent practice. If you aren’t practicing, why not?
Be nice to yourself...if you don’t have this area of your business mastered, it is only because you haven’t made it a priority and applied the discipline. Not because you can’t learn what to say, or how to respond.
Understand the cost of not knowing how to work with objections. If your average check is $7500 and you miss just one listing a month because of your inability to effectively handle objections, you’re losing $90K each year.
It’s twofold, one in missing opportunities when on appointments. Second, you're possibly (on an unconscious level) not going after new business to avoid being put in situations that make you uncomfortable and avoiding dealing with objections.
Know the difference between working in your business and on your business. An example of working in your business may be when you are actually on the listing appointment of showing property. An example of working on your business would be writing out the objections, figuring out your response, role-play and practicing 15-20 minutes each day. Make sure to put this in your schedule and don’t overlook the importance of practicing.