RE/MAX Romania 2014

Handling objections

RE/MAX Romania 2014

Objections are:• Opportunities • Requests for information•Means of communication• Part of the sales process

RE/MAX Romania 2014

How to be great?• Practice, practice, practice• Rise to the challenge• Connect & build rapport• confidence

RE/MAX Romania 2014

The ACCA system• Attention• “Is there anything else…?”

• Confirmation • “I completely understand…”

• Commitment• “I will not let you sign until…”

• Answer

RE/MAX Romania 2014Techniques

• Analogies• “If you were to need a lawyer, would you choose the cheapest or the

best?”

• Boomerang• “My commission is in fact higher, and I want you to understand why”

• Re-Framing (micro / macro)• “Let me ask you – what is the most important outcome for you in this

transaction?”• “As for exclusivity, was I able to explain how I work in full co-

operation with all realtors?”

RE/MAX Romania 2014Techniques

• Isolation (if-then)• “If we come to an agreement regarding the length of the contract,

could we sign today?”

• Empathy (FFF)• “I completely understand that, and I can tell you that many people

have told me the same, yet these same people found out…”

• Curious & silent• “I see that you are still hesitant about the exclusive concept, and

that’s ok – I’m really curious as to why…”

RE/MAX Romania 2014Techniques

• The Judo reverse• “Because you have so much experience in negotiations, clearly you

understand the importance of a mediator…”

• The objections check list• “let’s write down all the issues that are still troubling you…”

• The “YES” string• “are you looking for max price? Is it clear that max buyers = max

price? Was I able to explain why the yard sign gets more buyers?”

RE/MAX Romania 2014Open VS Exclusive

Seller Seller

Agent Agent Agent Agent

Time pressure

Buyer Buyer Buyer Buyer Buyer

RE/MAX Romania 2014

Open listings:• Conflict of interests•Minimal marketing• No co-op selling• No competition• No representation

RE/MAX Romania 2014

Exclusive objections• The special offer:• “I rarely do this, but let me offer you this –

I’ll write down a series of actions I am committed to doing within 2 weeks. If I don’t do them – you are released from the contract”

RE/MAX Romania 2014

Exclusive objections• The 3 questions:• “If we work together exclusively, what is

the worst possible scenario?”• “What is the most logical scenario?”• “What is the absolute best scenario?”

RE/MAX Romania 2014

Exclusive objections• Fright or delight?:• “I realize that exclusivity may be scary, but

what is it really? You continue with your life, I do all the work and take all the expanses, and at the worst case – if we don’t sell – you don’t pay…”

RE/MAX Romania 2014

Exclusive objections• Exclusive listing = excellent agent• “It’s true, exclusivity is good for me

because it guarantees my paycheck. And where I stand to make money I work very hard to bring results. Makes sense, ha?”

RE/MAX Romania 2014

Exclusive objections• The double-choice scenario:• “You can go for my regular exclusive

package, or my Platinum Customer plan, which guarantees much more, but costs a little bit more”

RE/MAX Romania 2014Regular plan:a. MAPb. Consulting servicesc. Handling buyersd. Negotiationse. One-stop-shop servicef. Commission: X

Platinum Customer:a. Extended MAPb. Higher frequency of

consulting servicesc. Enhanced one-stop-shopd. Services included in the

commissione. Commission: X + 1%

RE/MAX Romania 2014

Commission objections• Visual demonstration• “The less you pay your agent, the more he

works against you and for the buyer, while limiting the exposure of your property”• Draw the demo on a piece of paper

RE/MAX Romania 2014

Commission objections• Investment house analogy• “You have X Euros you want to invest. 2

companies want your account. One is willing to waive any fees just to get your money, the other demands payments. Where would you invest?”

RE/MAX Romania 2014

Commission objections• Cheap agent = cheap house• “Can you be certain that an agent who

gave up on his own earnings will not say to your prospective buyers that the house is priced at X Euros, but I can get for you for less?...”

RE/MAX Romania 2014Commission objections

• Personal history analogy• “I see that you bought a Sony TV. Are you happy

with it? Why did you choose it?• “I assume you could have found something

cheaper, no?”• “Clearly you know how to protect your interests

and achieve good results for you money!”

RE/MAX Romania 2014

Commission objections• The doctor / lawyer analogy• “If you were in a situation that you

absolutely needed a doctor or a lawyer – would you choose the cheapest or the best?”

RE/MAX Romania 2014

Closing – “Let us think…”• The reverse challenge• “I like what you’re doing now – you’re basically

testing me to see how assertive I am, and whether I will be able to handle buyers who say the same thing. I can tell you that I am very assertive and I am exactly the kind of person you need on your side!”

RE/MAX Romania 2014

Commission objections• Persistence is persuasion • “I am a little bit annoying, aren’t I? The way

I insist and defend my commission? It is true, I am very assertive and persistent – and in the same manner I secure my earnings I will get you best possible price!”

RE/MAX Romania 2014

Final thoughts• 100% attempts, not 100% success•Marathon, not a sprint• Actions, not results• Enjoy – that’s how you know you’re

good

RE/MAX Romania 2014

This session Facebook status:

The will to succeed doesn’t impress me – everyone wants to succeed. It’s the will to practice in order to succeed that is impressive