The process of removing an objection is very simple. But the fact is most salespeople never learn to handle objections effectively because they regularly make some of the following mistakes.
Failure to listen.
The single greatest mistake you can make is not to listen to the prospect. If a customer tells you she doesn't want to spend more than $150,000, it's a mistake to try to convince her that a more expensive home is a bargain.
Not asking the right questions.
In many instances, the prospect's objection is both understandable and self-explanatory. But in other cases, you must ask for clarification. For instance, if a seller says, "I don't want to list until spring," don't assume you know why. Ask him to explain. Make sure you pay attention to the answer. You can't remove an objection unless you know what it is.
Interrupting.
Don't interrupt either verbally or by facial expression. Let the customer finish. And always pause before you respond. Encourage your prospects by commenting on their observations: "That's an interesting point"; "I understand how you feel"; or "Plenty of new home buyers feel that way." Never judge or criticize a prospect's statements.
Arguing with the prospect.
If you argue with the prospect, you force him to defend his position. If you win the argument, he loses face, and you lose the sale. Never begin your response with the words, "but" or "however." They tell the prospect an argument is coming. For example, buyer says, "This house is overpriced." The agent responds by saying, "I know real estate can seem very expensive, but compared to other homes in the neighborhood, this home is competitively priced." Even if the agent is correct, he is arguing with the prospect, and that's a no-win situation. A much more effective response would be, after an appropriate pause, "I know how you feel. Real estate involves a lot of money, and you don't want to pay more than you have to. Perhaps if we look at the sales prices of other homes in the neighborhood that are for sale or have sold recently, we can get an objective view of how competitively the home is priced."
Being unprepared.
Ninety-five percent of all buyer and seller objections are predictable. If you know how you will face specific objections, it makes sense to prepare in advance to remove them. Discuss all possible objections with your broker or other agents in your office, and find out how they respond to them. There is no excuse for being unprepared.
Responding to trivial objections.
There's an old Chinese proverb, "He who objects means to buy." So don't let minor objections alarm you. Be patient but persistent, and focus on the objections you believe are important. If a buyer says, "This bedroom is sure small," in most cases you're better off not responding at all or answering with a quick "Yes, it is."
Reprinted with permission of the Rockwell Report.
Published: March 10, 1998
Use of this article without permission is a violation of federal copyright laws.
