One of the hardest things I do as a manager is to come up with interesting topics for my weekly meetings. Yes, they have to engage the audience, they have to provoke a little discussion, they should be informative, and if they can’t be anything else, they should at least make people laugh. Since I’m not all that funny, except to my 3-year-old, I have to spend a bit more time making my meetings a little more interesting and on occasion I fall flat on my face.
This week I wanted to talk about objections and then ask the agents what tactics they use to kill those objections. So, what are buyers and sellers objecting about these days? The top objections for buyers were; I think I will wait a little longer and hope the prices will go down. Or, I want to save more money so I can buy a house rather than a condo. Or, I’m worried about this neighbourhood. For sellers the objections are a little different; What if I don’t get my price? What do I need to do to maximize my profit? Or, I will only pay you 3% to sell my home.
For a clear way to overcome these objections I went to a great on-line resource and friend, Aaron Hoos, whose blog, aaronhoos.com, has some great ideas on how to destroy objections. First order of business is to recognize the objections you will run into, then create content, either on-line or in your buyer or seller packages, that speak directly to those objections. The reality is that getting them out in the open or addressing them early on in your relationship will make the process go much more smoothly.
Hoos has 8 great ways to kill those objections;
A. FAQ sections in your website, blog or brochure are a great way to address concerns and put clients at ease quickly. If you are at a client meeting, simply encourage them to refer to your FAQ section if they have follow-up questions or concerns at a later date.
B. Testimonials from satisfied customers are “Realtor Gold”, so when something goes well, get that testimonial done fast. Strike when the coals are hot and try to get your client to speak specifically to the objection.
C. Blog about each objection. If you are a great story-teller or writer, put that skill to good use and talk about it. Better yet, make a video.
D. Tag line. Consider branding yourself. How about “Mark McLean is worth every penny of his x% commission”. Or “trust Mark McLean to walk you through the home buying or selling experience”
E. Put a page on your website. Unless you spend a lot of time on them, websites tend to be very static, so if you plan to dedicate a page to objections, at least make it visible.
F. Elevator speech. I’m a big fan of the elevator speech. When I sold condos I perfected my intro very quickly. As it relates to objections however, keep the objection killer short and sweet.
G. Address them earlier in sales presentation. Consider the commission discussion first. “So, Mr. Seller, let’s have a seat so I can show you how my unique marketing system is worth every cent of my X% fee”.
H. Add additional products or services. Maybe this point is not appropriate to the real estate discussion but perhaps this is your opportunity to tell your client about the little things you do that put you farther in front of the competition.
A special thanks goes out to Aaron for giving me a wicked meeting topic. It generated a lot of discussion with the agents, which is kinda the point. Aaron, look forward to hanging out at the end of the month.