Turn Objections into Meetings
Objections can arise for many reasons. Not every prospect needs what you’re offering, or more likely, you're not effectively demonstrating the value they need to see. Most objections are really nothing more than a request for more information, or a need to have a greater confidence in you or your organization. Skilled salespeople welcome objections because they are often buying signals in disguise.
Whether you're on the phone or are meeting in person, here are a few tips to handle these situations.
- Understand the real objection.
Property owners, landlords and tenants will often provide vague reasons as to why they don’t need your service—but those are not the real reasons they’re objecting. Your job is to listen, understand and use gentle, open-ended questions to uncover their real reservation.
- Be prepared.
Try to anticipate objections before they arise. Know your property and market, and have testimonials, marketing materials and your track record at the ready. The potential client can have all the opinions or thoughts in the world, but it’s harder to argue with empirical evidence.
- Have the right people in the room.
If you’re talking to a decision influencer and not the the decision maker, you could be creating an unnecessary blockade. They may have objections that don’t matter to the decision maker.
If you can’t get all the right people in the room or on the phone at first, make sure you control the narrative to eliminate certain objections. Pay close attention to the questions and responses so you can prepare for the time do you have the right people in the room.
- Don't take objections personally, and don't become adversarial.
Don’t win the argument at the expense of the deal. Some objections may be legitimate, others may be negotiating tools. Either way, it’s not a personal attack on you. Don’t take it as such.
So how does this play out in real world objections you’ll likely hear about regularly? Let’s have a look at some common objections and ways to keep the conversation going.
Objections are highly situational, but they are not unique. You just need to know what they are and how to address them. Here are some common objections you will likely hear:
- We do or will represent ourselves
- I already have offers
- Your fees are too high
- I can negotiate a better price
- You'll favor properties represented by your colleagues
- Your list price is too low
- I'm not ready to sell or look
- I'm going to wait for the market
- My property requires maintenance/upgrades
- I don't want to do another broker wrong
- I don't want to disclose certain details
- The decision is not mine to make
Understanding and addressing such objections is how successful brokers convert more prospects to clients. This is done by listening, and being perceived as listening. You can demonstrate your attention with empathy and sincerity. Put yourself in their shoes, and then proceed to ask open-ended questions.
Here are few ways you can demonstrate understanding and turn the objection around.