Getting a listing presentation on the books is a victory, but it’s only a small one until you seal the deal. That means being prepared to encounter objections from prospective seller clients.
Knowing how to respond can mean the difference between losing a client and winning the listing. Here are seven of the most common, and how to overcome them.
Why Should I Hire You Over Another Agent?
When a seller throws this statement out there, don’t get offended. They want you to show what makes you different. If you react with sensitivity, you are all but guaranteed to lose the deal.
How to Overcome It
Focus on your process. Don’t lead with your personality or how many years you’ve been an agent. Break down how you price, market, and manage the sale from start to finish. There should be no question that you bring value to the table.
Your Commission Is Too High
Real estate agent commissions have been the subject of nationwide scrutiny in recent years. Buyers and sellers are much more aware of commission rates than they once were. They know that they have options, and they will push back if they think you are asking for too much.
How to Overcome It
Reframe your rate as an investment, not a cost. Break down what you are providing to your clients in return, such as professional photos and aggressive negotiation. Emphasize how the right strategy can position their home to their advantage and prevent costly mistakes.
Another Agent Said They Could Sell It for More
Agents who are eager to get a listing may promise to list a home for more than its fair market value. But instead of a higher profit, the result is usually a longer listing period and inevitable price drops. If someone does put a bid on a home that is overpriced, they may withdraw the offer when the appraisal comes back too low.
How to Overcome It
Come into the meeting armed with market data, comps, and other insights to support your proposed pricing. Using real-world examples, explain the risks of overpricing a home. This shows the prospective clients that you’ve done your homework.
I Want to Think About It
The seller may feel uncertain or overwhelmed, especially if they’ve interviewed multiple agents and received conflicting insights. This can be one of the toughest objections to respond to.
How to Overcome It
Ask a clarifying question to uncover what they need to feel confident moving forward. Sometimes the client just needs time, and sometimes they are afraid of making the wrong choice. Don’t be pushy, but reinforce your value.
I’m Considering Selling It Myself
Many homeowners think they’ll save money on commission if they go the FSBO route. And they might, but they often eat those costs in other aspects of the deal. Additionally, inexperienced homeowners tend to underestimate the complexity of the selling process.
How to Overcome It
Make it clear that you respect the potential client’s initiative, and then explain what you handle. Don’t overpromise, but do focus on how working with an agent saves time and helps prevent costly errors.
The Market Is Hot, and I Don’t Think I Need Much Marketing
In strong markets, some sellers believe that homes sell themselves. While they have much better odds of closing quickly, there are no guarantees in real estate.
How to Overcome It
Explain that even in hot markets, competition is fierce. Ask how they plan to choose a buyer if they receive multiple offers. Explain how you can help them identify the strongest offer that has the best chances of making it to the closing table. After all, the goal is to get the house sold quickly while netting your clients as much as possible.
We’re Interviewing Another Agent in Our Network
This is a common objection. So many prospective clients know an agent. It may be an old classmate or a friend of a friend or a distant relative’s spouse. While these other agents presumably have an in with your prospects, that doesn’t mean the battle is lost.
How to Overcome It
Don’t get caught up in comparing yourself to the other agents. Criticizing them can come off as childish and petty. Instead, reinforce what makes your approach different and how you support a smoother, more predictable sale. Prospective clients want to see that you are skilled and that the merits of your work speak for themselves.
Objections Are Opportunities, So Treat Them Accordingly
The next time you are prepping for a listing meeting, think about which of these objections you might encounter. If you reframe them as opportunities to showcase what you bring to the table, you’ll capitalize on these openings and win more business.
Steve Cortez is a seasoned real estate professional with decades of experience and owner of ArchAgent. ArchAgent brings together the tools and resources the country’s top real estate agents rely on in a single package for a low cost.