“I can’t afford it”.
“Why would I sell it to you”.
“I have to speak with my wife”.
“We’re going another route.”
“Get off my lawn…you damn in-breds! ”
….Well maybe not that last one…at least not yet 😉
You will hear many objections from sellers while you are out looking to purchase homes.
Objections are a part of the lead conversion process and are a good thing…it’s all part of the game.
When a person whose home you are trying to buy gives you an objection they are literally saying…”if you can solve this problem, we can do business”.
So the first step in overcoming an objection(s) is to get your mind right and think of them as clue’s on how to complete the sale.
Think of overcoming objections in the following 3 simple steps:
1). Prospect gives you an objection which means you are on the right track
2). You agree with the prospect, navigate them towards your solution, and overcome the issue
3) Ask for the sale
Let’s dive into each one of these:
1) Prospect Gives Objection
We already dove into this a bit. When you hear an objection you need to pay extreme attention. You have just been giving a clue on what you need to solve to complete this transaction.
If you have a pen and paper on you (which if you follow our training you do have on you) you need to write this objection down right away. This will help for your follow up system down the line.
2) You Agree With The Prospect
I repeat YOU AGREE WITH THE PROSPECT.
You say “I understand completely…” and then you dive into some education for the prospect. You see, most sellers arn’t aware of any other options, and if they are they usually are uneducated about them.
Think of it this way:
If you brought someone from the 1800’s to the future and told them to get in a plane and fly with you would they?
They would be too scared.
The only way to get them on would be to explain to them that a plane is actually the safest way to travel, educate them on how they are made to withstand all turbulence, lightning strikes, and how physics applies to the wing shape to lift it up (they are shaped with a hump on the top so when wind goes over the top of the wing it goes faster and this causes the wind that goes under the wing to push up and lift the plane up)… AND then demonstrate a safe flight to this person by showing them previous flights you’ve been on or even showing them planes in the sky…then they may choose to fly in a plane with you.
Well my friend, this is no different.
You will say ” I understand completely…may I ask have you ever thought about….” or ” I understand completely…may I ask does your….” or even “I understand completely .I’d feel the same way, however were you aware that…”
Then you educate them on topics that relate to the objection and have a conversation until you hit the next objection, and then you repeat the process.
Here is an example of handling an objection:
After some initial chatting…
You: “…..and I am interested in making a cash offer on your property”
Them: ” I have to speak with my wife”
You: ” I understand completely, i know how important it is to communicate with a spouse, now let me ask you… If I could give you all the information you need to make an educated decision would you be able to pass that onto your wife for me?
Them: Yes no problem
You: Great! – Now what’s your best email to send the information too ?
You: And your best phone number
You: Great, I will send you the information today, and when is a good time for me to swing back by to follow up?
Them: Well I have to talk to my wife first to see if you even know to come back
You: no problem..makes sense, you see though I am always in the area looking at homes, so it is no problem for me to swing by even if you decide to go another direction. And can I ask you something?
You: If we can get your wife on board is selling your home to us something you would be interested in?
Them: Well I donno…maybe
You: What would have to happen for you to do it?
Them: well I would need to take a look at the information beforehand
You: I agree completely. I am 100% confident that when you take a look at the information I am sending you, you will be amazed at what you learn and be 100% on board with working with me. Not only do we buy the property as-is …we also close quick, save you 6% on Realtor fee’s, help with moving and so much more…
Them: Ok Ill take a look and let you know.
You: Ok great sounds good. Give me a call with any questions and Ill swing back by in a week
Them: Ok sounds good. thank you.
You: No problem… thank you for your time, keep an eye on your email and talk to you soon.
That is how your conversations need to go.
If the objection was different for example something like “we are going to list it with a Realtor”.. you would take a different approach.
Something like ” Oh that’s great! Were you aware that if you work directly with us you will save 6% on fee’s and even more on closing costs. So if you sell for $200,000 you would save an additional $12,000 that you don’t have to pay to Real estate agents… not to mention you will probably end up at the same price that I am willing to offer you, which means if you list it you would end up with less money…”
If the objection was ” I can;t afford selling my house” You say…”that’s fantastic! Cause when you work with us you don’t need to hjave any money. We are not real estate agents. We work directly with you so we can save you those fee’s and we pay your closing costs.
If the objections is ” We’re going another route” You say “That’s awesome. What is your gameplan… a loan modification? ” — in this rebuttal you are looking for more information on when to follow up and on how to follow up.
If the objection is ” Why would I sell to you” You say “Fantastic question… actually there are many benefits- we buy the property as-is so you don’t have to lift a finger, or make any repairs, we pay all cash so you don’t have to deal with banks, we close in 21 days or less so you can have your money fast, we save you 6% on realtor fee’s since you wont have to hire a realtor, we can have you an offer in 24 hrs, you don’t have to deal with pesky buyers coming in and out of your house and much more…”
If the objection is “You pesky kids..get off my lawn!” You say “I understand and appreciate your assertiveness, however did you know that I am prepared to make an offer to you right now, and I will take the lawn condition as-is… haha only joking on this one.
The point is be sure to handle the objection immediately and continue the conversation until the next objection comes up. then repeat.
BIG TIP: A secret weapon we use all the time is to simply ask “What is your biggest concern, or issue with working with me… I want to make sure to handle all your questions and make you feel comfortable”
3). Ask For The Sale:
Make sure they know your intent is to purchase this house by making an offer.
Whether you have collected their contact information or not… you will need to follow up, follow up follow up….
And follow up some more from all different directions: mailers, social media, phone call, text , door knock etc..
Each step of the way you will follow up and continue asking for the sale , and continue handling objections to keep moving the prospect closer to meeting with you for an appointment to talk about accepting an offer.
Now there is a specific system to use for follow up… and you can learn the EXACT systems we use in our Mentorship Program by CLICKING HERE.
But since you are reading through this now I will give you another big tip…
BIG TIP 2: When you do peak their interest and are at an appointment to discuss an offer. Ask ” When this sale is complete, and you look back… what will have to happen for you to be completely satisfied”
Then listen because they are about to tell you exactly how to purchase their house.
Bu using this 3 step system you can start handling all objections in the correct way and start getting some deals under your belt.
To learn how to build a a complete Real Estate marketing system for your Real Estate Company join the Better Tomorrow Group Mentorship Program by CLICKING HERE
That’s all for today!
Chris M Cordova
CFO Better Tomorrow Group
Chris is an active investor, Realtor, Broker, marketer, serial entrepreneur, and co-founder of Better Tomorrow Group. Follow Better Tomorrow Group on Instagram @bettertomorrowgroup on Twitter/Periscope @TheBTgroup and Facebook at Better Tomorrow Group. If you would like a FREE copy of Flipping Your Thoughts On Flipping Follow this LINK.