5 Vital Steps to Help You Handle Real Estate Sales Objections
My wife Melissa and I have only been married for five and a half years and I have learned a ton in that time. I willingly admit that I haven’t learned it all and I don’t think I ever will.
That being the case, I do know one mistake that I make constantly. Whenever Melissa comes to me with a dilemma, I try to solve her problem right away.
Do you know why? Mostly because I want to be her knight in shining armor. (For those of you that know me, you can go ahead and laugh at the visual of a 5’4” guy in armor…it is a funny thought.)
Here’s the problem: when I try to solve Melissa’s problem too quickly it usually backfires on me.
Why?
First of all, it implies that I am not listening. This weakens any solution I might offer to her.
Secondly, I might try to “solve” the wrong problem. “Solving” too quickly sometimes keeps me from understanding the real issue (#prematuresolving).
This happens in real estate sales daily! As soon as our prospect starts talking, we start solving!
So I’ve come up with a way to avoid that trap.
Five Vital Steps to Handle Objections:
Vital Step #1: Allow the customer to “Talk it out” – Don’t interrupt customers when they start giving you an objection. Listening is the key here. Think of yourself as a customer service agent or a reporter who needs to get all of the facts.
Vital Step #2: Ask them to “Tell you more about that” – This is the most vital step in handling objections. After they have ‘Talked it out’, dig deeper. Your goal here is to uncover the real reason for the objection. What are they envisioning going wrong?
Vital Step #3: Offer a Solution/Answer the concern – This is where you finally help them solve their problem. Because you have listened and uncovered the real objection, your solution will be more accurate and it will have more weight simply because you allowed the customer to express their concerns in a safe environment.
Vital Step #4: Confirm the Solution Works – Sales is not about manipulation. It’s about collaboration. With that in mind, simply ask if the solution you provided would be acceptable or if it is an idea that would help.
Vital Step #5: Close – Usually objections surface when we are closing on something; price, style, function, etc. After you have confirmed that your solution will work (Step 4), then you want to re-close on whatever you were closing on originally.
Here is an example of a new home sales dialogue to illustrate how this works:
Sales Pro: (Original Close) “So you love the home, it’s a great floor plan for your lifestyle, you’re in the right school district and it’s on point with your budget. What do you think – are you ready to move forward?”
Customer: (Objection) “I don’t know. The more I think about it, the more I’m concerned about those power lines!”
SP: (STEP 1 – Talk it out) “Fair enough. Tell me more about that…can you elaborate on your concerns here?”
C: “Well, I am really struggling just with how visible they are from the backyard. I mean, they’re an eyesore!”
SP: (STEP 2 – Tell me more) “Ok, I’m totally tracking with you. But tell me a little bit more. Put yourself in the home and visualize yourself living here – give me an example of a time when these power lines would bother you the most.”
C: “Well, we have a ton of BBQ get-togethers and I just think the power lines look horrible. I feel like our family and friends would find it really unattractive and I want to feel proud of my home and my backyard.”
SP: (STEP 3 – Offer a Solution) “I hear you. So it sounds like you’re worried that the power lines will distract people from enjoying your beautiful home. And I totally get that! You know, I’ve seen a few other homeowners in the neighborhood come up with some great solutions. The Johnson’s down the street did some awesome landscaping that really screens out the power lines and they’re back yard is gorgeous! Here, let me show you a picture…”
(Show visual)
SP: (STEP 4 – Confirm the solution works) “Do you think getting creative with landscaping is a workable solution for you?”
C: “Well if we can add the landscaping but still stay within our budget, then I think we could make it work.”
SP: (STEP 5 – Close) “So this location will work for you then after all?”
This is a bit oversimplified to illustrate how the steps work, yet I hope you get the idea.
When you implement theses five vital steps for handling real estate sales objections, your customer will see you as a collaborator rather than a manipulator. And that’s when you get the chance to change someone’s world!
