How to Overcome Three of the Toughest Objections

It’s that time and you and your prospect both know it.

A commitment needs to be made.

You’re close to getting one…but there’s an objection lurking in the wings that needs to be addressed before you can get that “Yes”.

Your ability to make sales – and earn consistent commissions – relies heavily on your ability to handle these objections and convert these speed bumps into into commitments to do business.

There are a ton of objections out there, but some of them come up way more than others.

In our world, there are three that come up pretty regularly.

“I/We need to think about it.”

“I/We want to pay a lower commission.”

“I/We have a friend/family member in the business.”

You may have cringed while reading those.

But at the end of the day, not handled properly, these three objections can stop your sales efforts dead in their tracks.
To help you smash these objections like a homerun over the left field wall at Jacobs Field in Cleveland, I’m sharing with you what works for me.

I know it will work for you.

Overcome These Three Tough Objections…

 

“I/We Need to Think About it”

This objection is the granddaddy of them all. It’s not only a great stall tactic, but it also brings any sales momentum you have to a screeching halt.

What makes it worse is that it’s not an absolute “No”. It’s vague at best and it really doesn’t give you anything to sink your teeth into to handle the objection as you would other ones.

When you get this one sent your way, you have to get into curiosity mode and start asking some questions like:

  • “What is it you wanted to think about?”
  • “When you think about it, what specifically are you going to be thinking about?”
  • “Other than need to resolve the matter that is unclear to you now, is there anything else that would prevent me from helping you sell your home/buy a home?”

And once you get some traction there, start asking: “Anything else?” to get the momentum moving again and to keep them talking. Your goal is to peel the layers of the onion back so you can get to the real sticking point. Asking good questions and helping them get clear is a key part of that strategy.

The important thing to remember here is to not just roll over and ask, “Okay, when is a good time for me to follow up?”. You may end up there…just don’t start there.

Remember, objections are a natural part of the sales process. Your job is to address them and then resolve them while as soon as you can.
Don’t let them go unattended so that they grow into huge, immovable boulders on which you can’t get any movement and eventually lose the sale.

 

“I/We want to pay a lower commission.”

As with every objection, you need to determine the meaning behind it before you can successfully resolve it.

When it comes to commission objections like this one, it usually, means one of two things:

  1. You and your company are right for me, but we really can’t afford it: This one is tough because you have buy in, but your prospects just can swing your fee. Your goal here is to crunch the numbers for them and then see if it can work after that.If not, assure your prospect that there is no pressure to work with you at this moment and then nurture the relationship with them until they are ready to move forward. As well, if it makes sense to reduce your fee, do it and make it a huge win-win for both you and your prospect.
  2. We love you and your company, but we want a lower commission: Some folks fancy themselves as good negotiators and you just have to run with it.The goal in this situation is to get them to focus on what they’re making/walking away with versus what they’re spending. In fact, you can ask them outright: “Mr./Mrs. Seller, are you more concerned with what you’re paying or walking away with?”

They likely will say the latter.

At this point, you must be able to demonstrate to them that you’re going to get them more money for their home, even after your fee.

You can’t just tell them…you must show them.

If you have to, offer them a guarantee that you’ll take less if you get them less than a specific amount. That way, when they win, you win and if they lose, you lose.

 

“I/We have a family member/friend in the business”

This may be the toughest one of them all.

Getting a seller to not do business with someone they know and possibly love takes some serious leverage and a decent skill set.

The important thing with this objection is to first agree that it sounds like a good idea: “Mr./Mrs. Seller, it makes sense that you would want to use your family member/friend to help you get your home sold. You know them and trust them…two things that are important in making the decision to work with someone.”

From there, though, you need to create doubt about that choice: “Let me ask, are you hiring this person because you want to help them out or because you think they’re going to get your home sold in your time frame for the most amount of money?”

You won’t be shocked to know that many of the people who make this choice are looking to help their family member/friend out.

Not the best choice when you’re disposing of your biggest asset.

That said, even if the seller says that they’re choosing that person because they’re going to do a good job, the question is the same: “If you’re family member/friend fails to do a good job, wouldn’t it be damaging to your relationship? It’s kind of the same reason many doctors won’t operate on family members and friends. A negative outcome could have disastrous results on their relationships with family members and friends. That makes sense, right?”

If that makes sense to them, close for the listing and get the paperwork signed.

If they don’t agree to give you the listing. offer them the opportunity to pay their family member/friend a referral fee for their time and efforts and list the home with you so they get the best of both worlds – help their friend and get their home sold for the top dollar by a top real estate professional.

No matter how good of an agent you are, you will always face objections. The important thing is for you to be able to handle them and turn them opportunities to earn your prospect’s business.

If you can handle these three like a champ…you’ll become an objection handling machine.

 

Click here to find out more about how we can help you overcome these and other objections like a grizzled veteran.

3 Ways an Inside Sales Associate Makes You More Money

Having an Inside Sales Associate isn’t an expense…it’s an investment

If you’ve been a real estate agent for even a week, you know that there’s no shortage of places where you can invest your hard-earned money to generate listings for your business.

Many of them suck…plain and simple.

Unfortunately, for many agents, they don’t find this out until it’s too late and they’re either out of money – or worse – out of business.

The key when deciding where to put your money is to look at whether or not you’ll actually make money BEFORE you plunk down your cash.

[themo_button text=” Click here to find out how an ISA can help you generate more income in your market.” url=”https://schedule.appointmentstoday.com/” type=”ghost” target=”_blank”]

When you do, you’ll find that a little research goes a long way.

Of the myriad places you can make an investment in your real estate business, there’s a short list of options where you’ll actually get a huge return on that investment.

Hiring an Inside Sales Associate (ISA) sits at the top of that list.

Yes, it can be a larger investment, but the return on it is one of the best you’ll experience.

 

Three Ways an ISA Can Make You More Money

Here are three key ways and ISA can make your business more profitable (and likely in less time than you’d imagine):

  1. Make more contacts

    It’s trite, but true, sales is a contact sport. The more people you speak with, the more opportunities you get.

    The challenge here is that as an agent, the busier you get with meeting prospects to help them list and sell their home, the less time you have to make contacts.

    And in the spirit of complete transparency, prospecting is usually the first thing that gets dropped once you get busy.

    Sales Statistics
    By putting an ISA in place to make calls for you, you have a trained salesperson who can call as many days of the week and as many hours of the day you would like them to.

    Consequently, they’ll talk to more people and uncover more opportunities which, statistically, means you’ll get more appointments and sales.

    And, even if you love being on the phones and are committed to calling a couple of hours a day, having an ISA call can still help you find more than enough deals to justify the investment.

     

  2. Fewer missed opportunities 

    Fact: you’re not going to get every sales opportunity that comes into your mousetrap.

    And it’s okay because there’s enough business for everyone.

    That being said, it’s crucial that you put a strategy in place to not miss too many of them.

    On average, only 3 percent of your market is actively buying. At the same time, 56 percent of these people are not ready, while 40 percent are poised to begin.

    Your challenge is to be there at the right time so you can strike while the iron is hot, so to speak.

    The best way to do this so you can capture more business is to have an ISA in place whose nurturing these leads and building a solid relationship with them.

    Couple that with the fact that most agents stop calling after the first attempt or two and you’ve got a recipe to snatch up a lot of business on which you’d otherwise miss out.

     

  3. Increase your average sales price 

    If you’re like most agents, you probably worked with more buyers than sellers when you got into the business.

    It makes sense because buyers are available in a large quantity and they’re easier to work with on the whole.

    Certainly, buyer business is great, but it can be tough long term.

    Not only does buyer business require a lot more of our time and energy, but also it keeps us from increasing our average sales price because we don’t control the price of the house a person is buying.

    Increase Average Sales Price


    When you have an ISA calling regularly for you,
    you can pinpoint areas where the average sales price is higher and have them call to nurture relationships and find listing opportunities.

    The best part is that as you get higher priced listings in new areas, you can also get great referral business in that same area.

    The ripple effect of putting this strategy in place is incredible positive and powerful.

In your mind, hiring an ISA shouldn’t be an “if”, it should be a “when”. With a solid ISA in place and a targeted calling plan, you can add a significant amount of income to your bottom line in 2018 and beyond.

The investment is a lot less than you would think and the return is well worth it.

The important thing is to make sure you have the right ISA and the proper processes in place.

 

Set up a free consultation to find out how to have an ISA explode your business

The #1 Mistake Listing Agents Make With Leads

If you have a name, phone number and/or an email address…you have a lead.

Nothing fancy. No secrets here.

If you have that information, you’ve got yourself a lead.

Need help doing a better job with your leads?

Click here to find out how we can help you convert more of them.

Now, while you’d much rather have a phone number, an email is at least an entry point for getting in contact – and staying in contact – with your listing prospects.

As well, if you have a name, there are other entry points to making and staying in contact with your leads, including any social media access point: Facebook, Twitter, LinkedIn, etc.

For what it’s worth, Facebook is easily one of the best places to gather information on the leads you generate. Many people make available lots of intel on their Facebook page, making it possible for you to get to know them in a way you wouldn’t through texting, email or even IM’s.

If you’re not comfortable with how to work a lead through Facebook, this overview of generation and conversion process is extremely helpful.

 

It’s not an opportunity until you work the lead

Now that we agree what a lead is, let’s agree on something else: it’s nothing more than a lead if it sits in your database and you do nothing with it.

You see, a huge percentage of your leads (at least 80% of them) are more than 90 days from doing anything related to selling their home.

But, just because this lead isn’t ready to sell now, doesn’t mean they aren’t going to sell.

More importantly, because they’re not going to pop any minute, you need to work them – nurture them, if you will – consistently until they are ready to sell their home.

When nurturing leads, you need to be in regular contact with them through calls, emails, texts and when appropriate, direct mail.

The timing and motivation of each lead will drive the cadence of how frequently you reach out to each seller prospect.

Which means you’ve got to nurture them until it’s the right time for them.

 

It’s nurture and grow or don’t and stand still

Herein lies the number one mistake real estate agents make when handling leads: if it isn’t now business, they simply give up on it.

Unfortunately, this is why agents spend thousands and thousands of dollars generating new leads each and every year. It’s also why they are literally a slave to their business because they MUST generate new leads if they’re going to survive another day in the business.

The bad news is that eventually, like running on a treadmill where you can only go so fast, they’ll hit a barrier where they can’t generate any more new leads to make a significant change in their business.

Yes, your business needs new leads, but it doesn’t need to be a huge abundance of new leads if you’ve got a solid lead nurturing strategy in place.

In fact, it’s crucial that you nurture your leads. You’ve invested a boatload of time, energy and money generating leads, it’s time to get some return on those investments and nurture them like mad.

Stop treating those that aren’t now business – which is pretty much most of them – like they have a disease.

Instead, treat them like what they are, diamonds in the rough.

Because when you do, you’ll reap the rewards of your efforts in spades.

 

Change your approach to lead conversion today

Here’s the thing, it’s going to take time. It’s also going to take money, effort and even some strategizing to put a solid nurturing process into place.

But it’s absolutely worth it.

When you nurture leads, you’re putting yourself into position to build better relationships, which will lead to a huge increase in your chance of converting them solid listing opportunities.

In fact, in many cases, you’re likely going to be the only agent these leads will be talking to since most other agents are so now-business focused.

As a result, when these leads are ready to pull the trigger, you’ll be in perfect position to convert that lead to YOUR listing appointment and then into YOUR listing.

No matter what reason you want to put behind it, you must nurture leads to be successful because most of your leads just aren’t ready to do business.

Starting today, look at your database of leads as a bunch buds on a flowering plant. Consistent sunlight and water are like calls, texts and emails. The more you do, the more your leads will bloom into big, beautiful prospects who want you to come list and sell your home.

Find out how to nurture your leads consistently to get more listings. 

Schedule Your Demo Now

3 Reasons Why You Need to be Prospecting In the Winter

It’s not time to chill…it’s time to turn up the heat and get on the phone.

It’s the end of the year and most agents are shutting down their prospecting efforts…”waiting ‘til next year” like many of their prospects are planning on doing.

This is unfortunate for two reasons: 1) it’s going to upset the real animals that hibernate like bears, bats and groundhogs and 2) these agents are going to miss out on a ton of opportunity to get sales now and build their pipeline for early next year.

If you’re willing to fight the urge to take a long winter’s nap and put in the effort while your competition is settling in for the next 60 days, you could put yourself in position to be very busy come next January and February.

 

Three Reasons to Prospect During the Winter

 

While you’re warming up your phone, consider these three reasons to take action now:

 

1) Homes Sell Faster and For More Money In The Winter

Say what? You read correctly. One of the biggest misconceptions out there is that homes don’t sell during the winter. The fact of the matter is that not only do homes sell during the winter, they fetch higher sales prices and stay on the market fewer days.

According to research done by RedFin, homes sold in the winter:

  • Are 9% more likely to sell
  • Sell 1 week faster
  • And sell for 1.2% more

It’s hard to argue with real numbers. It’s your job as an agent to make sure you get in front of sellers and share this data with them. If you can articulate this information properly, you’ve got a legit chance at snagging some business in the winter.

 

2)  Many of Your Leads Aren’t Ready Right Now

Even if it wasn’t the end of the year, it’s important that you’re aware of how few of your prospects are ready to do business now. The number of people in your book of leads who are ready to do something in the next 30 days is less than 5%.

That means everyone else needs to be cultivated over time until they’re prepared to make a selling or buying decision.

To make sure you’re the one agent they call when they’re in position to pull the proverbial trigger is for you to call early, establish a relationship and then cultivate that relationship with emails, texts and most importantly…additional phone calls over time.

Something like 75% of the agents out there toss the lead in the trash before they get to this point.

And, if you want to be ahead of the crowd when agents “thaw” out and start prospecting in earnest again sometime in the first quarter, now is the time to start building those relationships.

According to the National Association of Realtors, 89% of real estate consumers are going to work with an agent…and usually they work with the first agent that contacts them.

There’s no shortage of leads…just a shortage of conversions.

 

3) There’s Less Competition…Period.

During the waning months of the fall and into early winter, about 17% of the homes are going to sell. This benefits you in two ways.

  1. Fewer agents are going to be via for that business, which means the agents who are out hitting it hard have a much better chance of picking those opportunities up for themselves
  2. The folks who are looking to sell and buy are more serious about the task at hand are likely to do what it takes to complete their real estate transaction.

The number of homes sold during the winter jumps up to about 24%, but that’s still roughly 28% fewer than will sell in the springtime.

Again, the numbers don’t lie, which makes them hard to argue with in making a case for getting on the phone and prospecting at this time of the year.

In the end, it’s nothing more than a decision to take action. The good news for you is that the opportunity is real and it’s there for the taking. Many of the agents in your marketplace are either slowing down or they have come to a complete stop at this point in the year. It’s not hard to take market share from agents who aren’t working the sales opportunities in your area.

There’s even better news. If you plan your attack properly, you don’t need to be the one doing the calling.

To find out how to have a skilled salesperson calling and uncovering sales opportunities in your marketplace for you this winter, click here and schedule a demo. [Schedule A Demo Now]

Set More Listings With The 4-Minute Home Value Script

Hey everybody. Matt Milia of Appointments Today. I want to talk about the importance of having a home value script. We have had an amazing level of success on some of our Facebook leads that our clients are generating. A lot of the leads that we’ve been calling on have been home valuation.

What I want to do is run through what a typical home valuation call would look like, because without having a script in front of you, it is very difficult for you to really convey what you’re offering, what you can do, and it’s hard for you to differentiate your value from some of the other people that are calling. I’m going to run through just a quick rundown of what our script looks like, and hope that this will help you out in building your own script.

 

The 4-Minute Home Value Script

 

First things first. I always start off…

Intro

“Hi, I’m not sure I’ve got the right number, I’m hoping you can help me out. I’m looking for the homeowner at 2730 Main Street. Is that you by any chance? Great. Hey, my name is Matt. I’m giving you a call with Stasek Real Estate Experts. I’m reaching out because I got your inquiry about the value of your home online, and I’m just curious. If you had a buyer that would be willing to pay your price and terms, would you be open to listening to am offer? You would? Great. Well, just out of curiosity, how long have you been thinking about selling your home? Okay. Great.

 

Build Rapport

Tell me a little bit more, so that I’m on the same page with you, tell me a little bit more about really what’s got you looking to sell this beautiful home. Looks like a gorgeous place. Okay. In regards to the ideal timeframe, if someone came along, they were ready to pay your price and terms right away, what would be your ideal timeframe for you to get your home sold, and get onto your next house? Perfect. And then, were you planning on staying in the area, or were you thinking about moving elsewhere, outside of the area? Great.

 

Okay. Well, I really do appreciate you going through some of these. A couple other real quick questions about your house. What do you think are some of the best selling features of your home? Wow. That’s perfect. Sounds like an absolutely gorgeous house. I’ve got to tell you that right now we have, just to give you an idea, we have over 200 buyers that are looking for homes in your area. The number one thing that we’ve been hearing is there’s just not enough inventory to meet their needs.

 

Set The Meeting

Let me ask you this. What I’d love to do on my end is set up a quick meet and greet with our top agent. His name is Charles. Charles will come out, he’ll sit down with you. He’ll go through a step-by-step process, and really show how we can help you sell your home in half the time, and net you more money. When would be a good time for Charles to come out? He’s got … Usually he’s available during the week or on the weekends. What’s best for you? Do you prefer weekdays or weekends? Oh, you prefer weekends? Perfect. Well, it looks like he’s got this Saturday at 3:00 available, or he could do Sunday at one. Which one works best for you?”

Hate Picking Up The Phone & Calling Leads? Don’t worry! We’ve mastered the art of prospecting, nurturing, and setting appointments for other agents just like you! Click Here to Schedule Your Brief Consultation Call — and see how many appointments we can set for you!

 

The Deconstruction of the Real Estate Home Value Script

 

Guys, I want to just deconstruct this script very briefly. When I first start off with the call, the number one thing I always say is, “Hey, I’m not quite sure I’ve got the right number.”

What this is doing is it’s disarming, it’s allowing them to realize that it’s not a solicitation call, and I’m just calling to gather some information and intel. It takes the guard down. It’s called a pattern interrupt.

We want to interrupt the pattern, because when I call and I ask for them by their first name, I go, “Yeah, you went on our website, you filled out some information online.” “Oh no, that wasn’t me. I didn’t do that.” That’s generally what you get. So what we do is we like to do is called a pattern interrupt. We let them know,

“Hey, I’m not sure I’ve got the right number. I’m hoping you can help me out. I’m looking for the homeowner at 123 Main Street. Is that you by any chance?” In most cases, because they’re just naturally curious as to what you’re calling on, they’re going to say, “Yeah, that’s me. What can I do for you?” Great. Now they can’t get out of that first objection. I’ve defeated it up front.

The second one is, when I go through, I just ask them very casually, say, “Hey, we’ve got a lot of people who’ve expressed interest in the area, and I’m curious if you’ve got a top dollar offer, would you be open to selling your home, or would you be open to listening to an offer?” When I ask them if they’re open to listening to an offer, that elicits a response of well, of course, they’re going to listen to it. They’re going to keep it open.

We want to ask questions that are going to direct us and guide us in how we want them to answer so that we can get positive results. So we’re literally directing their thinking, and we’re framing it as a question that they can’t say no to. “Hey, would you be open to listening to an offer?” “Sure. I’d be open.” I mean, personally, if you came and made me an offer for my house, of course I would be open to listening to an offer. I’d be crazy not to.

 

The Why Questions

 

Guys, these are the few, quick things I wanted to go through. Again, we also want to ask the why questions.

  1. What’s caused you to look to sell?
  2. How long have you been thinking about this?
  3. Did you know about the shortage of inventory?

These are questions that help gauge interest and gauge their motivation. Then from there, we’re letting them know about the shortage of inventory because there’s been a lot of buyers that have been looking. They can’t find the right house for them. I’d love to show your house off to them. How can we go about doing that? Let’s set up a quick meet and greet where I can go through, talk about my marketing system, tell you about how we can get your home sold for top dollar in half the time, and we’ll walk you through all the ins and outs of the process.

Again, we’ve had massive success using this script for our home valuation leads. I highly recommend it. If you’re not using a script, you definitely want to integrate this into your day-to-day business.

Hey. I hope this helps with your prospecting efforts. Again, we’ve had massive success using this home value script for our home valuation leads. I highly recommend it. If you’re not using a script, you definitely want to integrate this into your day-to-day business.

Take Care.