Objection Handling Scripts

Notes from Keller Williams Realty Family Reunion, February 2009 - panel discussion

Will you reduce your commission?
I'll charge nothing if the seller finds a buyer on their own, 1% if they want me to write the contract, 5% if they bring the buyer, 6% otherwise.
I demonstrate what commission reduction looks like by using six cards - one is marketing cost, one goes to my broker, one is to live on, three go to the buyer's agent.
Ask what the seller needs to net - and work backward.

Why should I come to your office?
Office policy - for security reasons - my value proposition - evaluate your wants and needs. Always need to understand whether the buyer is ready to purchase today - and to confirm that they want a good buy.

I want a steal.
Come in and we can look at the top five steals - and I'll have my preferred lender give you a call.

What do you say to a bank asset manager on a cold call?
Call locally owned banks in the community - smaller ones - do you have any foreclosures I might be interested in purchasing right now. How would I get on your preferred list of agents to list your houses.

Expired.
What kind of feedback were you getting from your agent. Three sentences about what I do, then ask a question.

Price reduction.
The market is dictating the price. What price will you not go below for you to sell at this time. If you want to sell any time in the next five years, the sooner you sell, the better. If you had a million dollars in the stock market six months ago, what would it be worth now. If interest rates go up, your opportunity to sell decreases. Sellers are eight months behind the market and buyers are eight months ahead. The market determines value, agents don't.

Zillo says property is only worth so much.
Most properties that sell are selling between 90-95% of list price. We won't know when the market hits bottom until it goes back up. When interest rates go up, your buying power goes down. When houses are priced right, they move. Are you willing to lose it?

Expired with loyalty to old agent.
What did your agent tell you they'd do differently next time? When 60% of your wealth is in your home, doesn't it make sense to have a conversation about listing with the right person. I won't force you to commit to anything, but I ought to see your home.

It takes five No's per call to get to a yes - "great" - keep talking.

HOA contribution.
Talk benefits. Contrast with areas where there are no HOAs. HOA should preserve value of home over time.

Seller wants to sell but not fix up.
If I were to write you a check for $20K, would you do everything that needs to be done? This is a beauty contest. If you don't fix, you've just bought it back for the $20K it would have cost you.

Expired.
If I could show you how trying to sell yourself will cost you money, would you be willing to talk? I get 98.6% of asking price.

FSBO
86% of FSBO list with realtors, the rest - if they sell - sell for 12-16% less. 75% of real estate related lawsuits in the US involve self-represented homeowners. If you find a buyer before we do, we walk away.

What about downsizers.
Do you have to sell? We don't know what the market will do - go lower or go up. If you can get a low interest rate and we go into inflation and rates go up, you'll lose buying power.

espfsbo.com

It takes three things to sell a house: price - which is determined by the market; marketing, and staging to show it at its best.

They don't want to hurt previous agent.
I'll call him. He can still bring a buyer and get paid more because of my expenses in listing your home.