How to Handle The 4 MOST Common Real Estate Seller Objections

Summary

This video script by real estate sales coach Brandon Mulrenin offers a comprehensive guide for listing agents to master sales skills and effectively respond to common objections. Mulrenin introduces a five-step framework for addressing concerns, including agreeable acknowledgement, speaking through the prospect's point of view, using assumptive statements, providing a value statement, and gaining agreement. He provides word-for-word scripts to handle objections about commission rates, interviewing other agents, pricing disagreements, and the need for further consideration, aiming to increase listing appointment conversions to 80% or 90%.

Takeaways

• 😀 Mastering sales skills and responding to objections is crucial for real estate agents to increase listing appointment conversion rates.
• 📝 Brandon Mulrenin, a real estate sales coach, provides a five-step framework for responding to objections in listing presentations.
• 🤝 Step one of the framework is 'agreeable acknowledgement', where agents should not argue but acknowledge the prospect's concerns.
• 🗣️ Step two involves 'speaking through the prospect's point of view', showing empathy and understanding of the prospect's perspective.
• 💬 Step three uses 'assumptive statements or questions' to provoke curiosity and engage the prospect in a deeper conversation.
• 💰 Step four is the 'value statement', where agents provide the core response to the objection, focusing on the benefits and value they offer.
• ✅ Step five is 'gaining agreement', ensuring that the conversation moves forward and that the prospect agrees with the agent's response.
• 🏠 The script addresses common objections such as lowering commission, interviewing other agents, pricing disputes, and the need for further consideration.
• 💼 When facing the objection of lowering commission, agents should highlight the importance of strong negotiation skills and not being desperate.
• 🔎 For the objection of interviewing other agents, agents should show understanding but also work to isolate the actual concerns behind the objection.
• 📉 When a seller believes their house is worth more, agents can use a 'one of three' approach to set expectations and address potential outcomes.
• 🤔 In the case of 'we need to think it over', agents should use assumptive questions to uncover the real concerns and provide a reasonable next step.

Q & A

What is the main focus of the video script provided?

The main focus of the video script is to teach real estate listing agents how to master sales skills, specifically how to respond to common objections during listing presentations to increase conversion rates.

Who is the speaker in the video and what is his profession?

The speaker in the video is Brandon Mulrenin, a real estate sales coach and the founder of ReverseSelling.com.

What are the four main objections that listing agents are taught to handle in the video?

The four main objections are: 1) Will you lower your commission? 2) We want to interview other agents. 3) We think our house is worth more than what you're suggesting. 4) We need to think it over.

What is the five-step framework for responding to objections as taught in the video?

The five-step framework includes: 1) Agreeable Acknowledgement, 2) Speaking through the prospect's point of view, 3) Using an assumptive statement or question, 4) Providing a value statement, and 5) Gaining agreement.

Why is it important for agents not to argue with the prospect when responding to objections?

It is important for agents not to argue with the prospect because arguing can lead to a loss of the sale. Instead, agents should use agreeable acknowledgements to stay aligned with the prospect and maintain a positive interaction.

How does the video suggest agents should respond when a prospect asks about lowering the commission?

The video suggests using an agreeable acknowledgement, speaking through the prospect's point of view, using an assumptive question to intrigue them, providing a value statement that highlights the risks of a desperate agent willing to lower their commission, and gaining the prospect's agreement.

What is the strategy for dealing with the objection 'We want to interview other agents'?

The strategy involves acknowledging the prospect's desire to interview other agents, empathizing with their point of view, isolating the actual objection through a series of questions, providing a value statement that offers flexibility, and gaining agreement on moving forward with the process.

How can agents handle the objection 'We think our house is worth more'?

Agents can handle this objection by agreeing with the prospect's desire to maximize their earnings, using an assumptive question to discuss potential outcomes, providing a value statement that outlines the 'one of three' scenarios that could occur with the current market conditions, and gaining agreement on the next steps.

What should agents do when a prospect says 'We need to think it over'?

Agents should use an agreeable acknowledgement, empathize with the prospect's need to consider the decision, use assumptive questions to isolate the actual concerns, provide a value statement that offers a flexible approach, and gain agreement on moving forward while respecting the prospect's decision-making process.

What additional resource is mentioned in the video for agents to follow along and take notes?

The video mentions a script book that agents can download, which includes the frameworks and scripts discussed in the video.