1	Handling Objections Buyer Objections Seller Objections Cerritos College Intern Program Class 6
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56	Tape 8 Managing Resistance Commission Objections
57	Part One I. Three Categories of Resistance Objection Conflicting need
58	II. Six Steps to Objections A. Pause 1. Gives you time to think 2. Gives them time to think 3. They may answer their own question B. Acknowledge/Restate 1. Allows them to clarify 2. Shows you heard them C. Isolate 1. Uncover all concerns 2. If it weren’t for that…
59	"D." D. Question 1. Seek to understand their concern 2. Let them resolve their own issues 3. How would you handle that? E. Answer 1. This is the last line of response 2. What if (provide solution)…would that work? F. Re-close 1. Confirm the purchase
60	III. Buyer Objections A. The price is too high 1. Reduce to the difference 2. Contrast to the benefits B. Some room is too small 1. Compare to positive features C. Don't like the location 1. Compare to positive features
61	IV. Listing Objections A. We want to talk to other agents 1. What about? 2. How will you make your selection? 3. May I return one more time before you decide? B. We have a friend in the business 1. Why did you invite me here? 2. What must I do to have you consider me?
62	"C." C. Another company has a buyer 1. Do you have a contract and a deposit? 2. They have a prospect D. Your company is too (big, small...) 1. Sell the specific services and benefits E. We only want you to show it 1. Majority of sales are co-op F. If it sells in a day, we under-priced 1. No, you priced it right (and I’m good)
63	Part Two I. Commission Objections A. Absolute vs. Relative 1. Absolute: They want a reduction from whatever fee you charge. 2. Relative: You are being compared to another provider
64	"C." C. Overwhelm with competence 1. Create value 2. Complete pre-listing package 3. Arrive on time 4. Thorough interview and tour D. Position of strength 1. Take pride in your value 2. Set limits, be willing to walk away 3. Just write in the commission amount 4. Say “NO”
65	"5." 5. Just 1%? 1% could be 14% to 20% reduction 6. Fee is negotiable... X-2% for relocation accounts X-1% for builders X% for single residential 7. Raise the commission Offer a more expensive premium option
66	II. Relative Commission Objections A. Probe, then convert to NET equity 1. Ask why the fee is an issue 2. Net equity is the goal 3. Expense saving vs. Revenue attainment B. Value added selling 1. Avoid being a commodity Commodity = No product difference Don’t let price be your only difference Demonstrate product differentiation
67	"2." 2. Demonstrate performance difference Net Gain over competition Show % of Sale Price you receive Show % Expirations vs. Board Show Days on market vs. Board 3. Money Back Guarantee C. Post-listing commissionectomy 1. “Won’t you cut to make the sale?” 2. “No”
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