In any real estate deal, buyers will most often have objections when you show them homes. One of your most important skills as a salesperson is to know how to overcome these objections. How you overcome objections shows your strengths and experience as a real estate practitioner.
Not all objections are the same. Some are deal breakers, but most are not. And with enough experience, you'll know that even deal-breaker objections can be overcome under the right circumstances. So listen when your buyer tells you they don't want stairs, swimming pools, or zero-lot-line properties. But don't be surprised when they buy the biggest two-story on the block with—you guessed it—a pool.
The best approach is to listen to the buyer and acknowledge his objections, but also test the boundaries a little. Remember, by asking questions all you are doing is establishing a place to start, not to finish.
When you get to the homes, that's when most objections will start. If you can't overcome the objections and find yourself showing house after house, while both you and your buyers grow in frustration, chances are you weren’t following these guidelines:
Educate your Buyer.
Ask Enough Questions, and Listen. Get your buyers prepared to buy, financially and emotionally. That means getting them prequalified by a trustworthy lender and sitting them down for a reality check. Let them know what they can expect to find within certain price ranges, types of homes, and neighborhoods. You also need to tell them about the extra and unexpected costs of buying a home. Then you need to get their wish list and no-compromise list, and put together homes to view.
Let's say you take your buyer shopping for homes in the city, and they like the homes but still complains about the street noise. Ask them if they can hear the street noise when they are inside the home. If the windows are old, suggest they replace the windows with double-pane, noise reduction windows. Ask if they would want the home if the seller were to replace the windows. Find out if they like the convenience of the location, except for the noise, or if they would rather trade convenience for a home that is a little further away from the bustle. Let the next home you show them be a little further away, and then they can decide which is more important. You may end up selling them a high-rise condominium or townhome after all.
Test Your Buyer’s Objections.
The most sincere objection is simply: "I don't want this. I want that." But most objections are phrased more like this: "But this home has this problem or doesn't have that.." Most problems and lack of features are easily solved. It's just a matter of determining at what cost. Since most objections come from not thinking a situation through, a buyer will voice an objection off the top of his head. It doesn't mean it's a real objection, but if you take it at face value, it certainly becomes one.
So test it. Ask the buyer, qualify, then offer options or choices for your buyer to consider.
Don’t Follow the Crowd.
The nature of real estate sales means you’re going to have to cut corners somewhere. Knowing your neighborhood shouldn't be one of them.
So if your buyer offers you an objection that they don't want to be north or south of a certain street, especially when they can't afford where they think they should be, you know they have been listening to the wrong real estate practitioners and you have the opportunity to help them.
Encourage Buyers to Keep an Open Mind.
Instead of dwelling on what they can't afford, suggest that they let you show them something that might open their ideas a bit. If you take your buyers to a really well-decorated ranch home, you might be able to sell them a home they can afford, their children will love, and they will enjoy decorating.
If you are really doing your homework, you're not only keeping up with trends, you're setting a few of your own. Let other real estate professionals follow your lead.