A sales objection is an expression by a prospect that a barrier exists between the current situation and what needs to be satisfied before they agree to work with you.
In real estate as in any other business, we need to be comfortable dealing with objections. The best way to approach an objection is to look forward and see how the objection can work in your favour. You might be surprised at how effectively this simple change in mindset will put you at ease in dealing with objections.
Objections are one of the greatest learning tools we have access to. When you receive objections to your value proposition or to your buyer presentation, this might be a sign that you need to examine and revise them. Take note of objections and be sure to address them in your sales presentations in order to avoid them in the future.
It’s important to note that not everything is an objection. In fact, what sounds like an objection may only be an excuse or a trained response. So how do you know the difference? An objection can only exist when you have provided an offer or a value proposition. A trained response is what others are trained to say when approached by a salesperson. For example, we’ve all been approached by a sales associate in a retail store and our immediate reaction is to say something like, “I’m fine”, or “I’m just looking.”
So as a real estate agent, how do you deal with a trained response? You simply acknowledge it and continue with your value proposition, presentation or script.
On the other hand, an objection is usually to a perceived cost. A cost such as:
The best way to handle an objection is to acknowledge it, agree with the prospect, and move forward by turning the objection into a solution.
Keep in mind that your potential clients may have more than one objection so it’s important to be able to identify each one as you see them occur. Once you know what is preventing the sales process from moving forward, you can address it immediately and continue on to close the sale.