To know how to sell properties you have to learn to answer the objections that every client will put up. Resolving objections in a situation of sale of a property requires practice, knowing how to ask questions, patience to listen and answer questions in a positive way. The only way to use these 4 elements at the same time is to prepare a strategy and not rely on improvisation. Something that few real estate agents do.
Let's see what are the 5 steps to effectively resolve objections during the property purchase process. First, we must indicate that resolving the client's objections does not mean that the client ends up buying the property. Answering objections doesn't always lead to a sale. Actually, the goal of resolving an objection is not to sell; but help to buy. To know how to sell properties one has to first learn that clients sometimes make objections, because they do not know what they want or are not very clear about what they want.
The ultimate goal of resolving objections is to know if the property you are offering is the right one for your client and to obtain this information as soon as possible. We could say that the ultimate goal of resolving objections is to save time in negotiation. When a negotiation takes too long, it usually doesn't end in a sale. Have you not noticed that most of your sales have been completed quickly?
How to Sell Properties: Steps to Resolve Objections.
Always remember that the objective of resolving an objection is not to sell the property: it is to save time and work. As a general rule, a potential client knows if he is going to buy a certain property during the first 5 minutes of visiting the property. If before the visit the real estate agent has done us a job of intelligent information, has not created expectations, you have not taken into account the payment conditions and as the property can create value for those who visit it, responding appropriately to objections will give you it will be of little use. Furthermore, you will not even have a chance to respond to objections.
In general terms, (I say general, because each buying and selling situation is particular), these are the 5 steps that you should take to resolve most of the objections:
Soften the objection.
Clarify the objection
Identify the true objection.
Respond to the objection.
Evaluate the customer's position.
Today we will briefly discuss in this article only the first 2 steps.
Step 1 to Resolve Objections: Soften the Objection.
Softening in this context means that you neither agree nor disagree about your client's objection. Nor do you answer the objection directly. This step is important when selling properties. Your first comment to an objection is to show the customer that you are listening carefully, that you value their concern and are not going to push or try to sell aggressively.
With this attitude, with your first comment, the client relaxes and begins to realize that you are trying to put yourself in their place. This is called showing empathy. In your first comment after hearing the objection, never use the word "but" in your sentence. This word adds tension to your arguments. It is better to use the word "and" or the customer's name.
Let's look at an example of how to sell properties wisely.
Comment, (objection), from the client: "I like the condo, but getting financing is a bit difficult in my current situation."
Wrong Answer: "It is normal that mortgages nowadays do not make things easier, but the price of the condominium is excellent." This way of answering, of resolving objections, adds tension and the real estate seller is perceived as that he is not considering the buying situation from the client's point of view. It is better to answer:
Right Answer: “Currently the financing of any property is always an issue that concerns my clients. Maria may have the solution for you. Let's deal with the issue of financing… ”Remember, when you soften the objection you are avoiding giving a different point of view than the one the client has at the time. This is not yet the time to prove to the client that she is not quite right.
Also, keep in mind that the true objection may not be the one the customer tells you. Which does not lead to the second step.
Step 2 to Resolve Objections: Clarify the Objection.
To resolve objections quickly and effectively, you need to know how to ask your client questions without creating animosity or concern. If you want good answers, you must know how to ask. After the objection is the time to ask the smart questions that you should have already prepared for when this objection saga during the negotiation. Asking intelligently results in knowing what the real problem is behind the first objection.
In all professional or social communication there are 4 factors that determine it and, incidentally, they are the cause of so many disputes, problems, misunderstandings, misrepresentations and conflicts:
What the other person is currently saying.
What you hear.
What you interpret the other person to have said.
What the other person wanted to say.
Complicated? It is, if no one has taught you to deal with a property purchase-sale negotiation taking these 4 factors into account. To cover these 4 phases properly and know what your client really meant, you need to know how to listen with eyes and ears and ask questions, several smart questions.
This is where improvisation betrays real estate agents. It is impossible to ask the right questions on the spur of the moment to resolve objections; especially when the ability to listen is lacking. Hearing is not listening. How to sell property is not something you learn with a couple of transactions.
How to Sell Properties? With Practice and More Practice.
Practice, pre-rehearsal in the office with role-playing games is necessary to master the technique of asking questions, resolving objections, and negotiating successfully. Practice, practice, and more practice. Role-playing games are not easy to carry out and planning is required. In my consultancies it took a whole morning to prepare the role-playing games; since the questions, the answers and the argumentation about a certain property must be previously prepared. The role play usually lasts 2 to 3 days depending on the number of participating agents. Therefore, that of RPGs in 1 morning, forget it.
In a sales situation, when objections appear, what is said is almost never what is meant. Your client may have misinterpreted your words or may make this objection, because he does not know how to express his main objection clearly, or because you do not trust him to be sincere.
To clarify the objections the best method is to paraphrase the objection and ask if you have understood correctly what the objection is. Sometimes this simple question clears up many doubts. A question few real estate agents ask in their attempt to resolve objections.
Asking and listening is what allows you to identify the true objection. Which brings us to step 3 to resolve objections that we'll cover in tomorrow's article. Get more updates here on Al Hartman.
Please share this post with your colleagues and leave us a comment. What is the most important thing about the objections that you have found in this article? Your opinion interests us. Thanks.
