In the course of your real estate investing ventures, you are bound to hear objections from sellers, some are common, some may surprise you, but regardless of the objection, you need to be able to respond in confidently and professionally. And remember, especially in the case of a highly motivated seller who may be in a distressing position, you want to make sure what you are offering will help them, and that you can explain your position effectively. Wading through their objections to uncover their true needs and intentions will help you decide if the transaction will be beneficial for both parties.
Here are a few of the most common tactics to use when faced with objections:
Listen
Selling a home can be stressful for buyers, especially if there is a strong attachment to the home. When they start presenting you with objections, it is essential to listen. Often, there will be a hidden objection beyond what they are saying to you initially. If you know they are in a situation where it is imperative to sell quickly, yet they keep talking about wanting to wait, their objection may be an emotional one. If you know that your services can help them rapidly close, you can help them move beyond the emotional response and tap into the rational side, where they know they need money for the home, and that they need it fast.
Offer Solutions
Once you listen and uncover the seller’s real motivations, you need to explain how you can help them solve their problems succinctly. One objection you are likely to hear is, “I think we can get a higher offer.” In this, and many other cases, it is a critical time to get to know the sellers’ real motives. What are their motivations for selling? If they are in a situation where they may be facing hardship, then it is important to explain how your services are different, and that your ability for a quick close will help them move forward to the next phase in their lives.
Keep It Short
Sometimes when faced with objections, especially when first starting out, it is easy to talk too much. Keep your answers brief. The more you try to combat the objection, the more likely it is that you will mention something that may bring up even more grievances. Now that isn’t to say that you shouldn’t answer their questions. If you give your brief answer and more questions pop up, answer them, but in any case, keep it short.
Be Sincere
People can be very intuitive and can see through pitches from people who are just trying to tell them what they want to hear. Be sincere in your conversations and let them know that you really do want to help them. If it is a quick close they want, explain briefly how you can attain that. If they have real emotional objections, take a few minutes to let them know that you understand, and want to assist them in resolving their situation.
Regardless of the objection, remember that being sincere and being able to explain the solutions you have adequately can go a long way in closing a seller.
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