If you're going to become a top listing agent, you're going to have to master your sales skills. And really there's no way around that. And specifically, you have to master responding to objections. If you learn how to respond to these four objections that we're going to talk about in today's video, your listing presentation, your conversion at your listing appointment will go up to 80 or even 90%. And so today I'm going to teach you not only how to respond to each one of these objections, I'll give you the exact script word for word. So if we haven't met yet, my name is Brandon Mulrenin, I'm a real estate sales coach and the founder of reverseselling.com. So if you like videos like this, make sure you subscribe to the channel, hit the like button if you get any value, it really does help this video out.
So if you're going to become a listing agent, these are the top four objections that you're going to hear most often. Number one: will you lower your commission? Number two: we want to interview other agents. Number three: we think our house is worth more than what you're suggesting. And number four: the classic, "We need to think it over." So as we jump into this today, make sure you download my script book, there's a link in the description so you can follow along and take notes. So first let's look at the five-step framework for responding to objections. This is the framework I teach all of my students in my coaching program that you need to know if you're going to master responding and overcoming these objections at the listing presentation.
Step one is what we call an agreeable acknowledgment. This is where when the prospect gives you any type of pushback or resistance or objection, you're simply going to use an agreeable acknowledgment, which you're going to see a couple of examples here in just a second. We never want to argue. Step two is what we call speaking through the prospect's point of view and not your own. You see, I think too many agents are trying to convince prospects why what they said is not valid or wrong and why what the agent is saying is right. Too many untrained real estate agents are trying to be right trying to convince prospects that they're right and that the prospect is wrong and they end up losing. Step three is using a assumptive statement or an assumptive question, which you're going to find out how to do that here in just a second. Step four is the value statement. This is where you're really going to give the heart of the response. This is probably, if I think about it, what most of you ask me when it comes to, "Hey, what do I say when the prospect says this? What kind of objection response should I give when they give me this objection?" This is really what the meat of the response and so I'm going to give you all four word-for-word and just a minute. And then step five: gaining agreement. It's not enough just to respond to an objection. If you don't gain agreement, we can't move the conversation forward, we're just stuck, which does exactly the opposite of what you want, which could potentially bring out more objections from the prospect if you fail to gain agreement.
So let's start off with probably the most common objection we get at a listing appointment, which is, "Will you lower your commission?" So step one is using the agreeable acknowledgment. So if a prospect asks you to cut your commission, "Will you lower your commission? Other agents are talking about doing this for less commission." You don't get defensive, you don't argue, you simply want to use an agreeable acknowledgment to stay in alignment, to stay in the game so you don't lose right off the get-go. And you might say something like, "Hey, that's a great question." Step two is what we call speaking through the prospect's point of view. So with this objection specifically, you might say something like this: "And Mr. or Mrs. Prospect, if I'm you, quite frankly, I want to make sure that I net the most money in my pocket, bottom line, regardless of the commission," which is exactly what you want. Am I right? Which brings us to step number three, which is using an assumptive statement, or in this case, a question that might sound something like this: "Mr. and Mrs. Prospect, there are plenty of real estate agents out there that would discount their commission in a second if it meant that you were going to list your home with them, and can I share with you why that's a massive red flag?" And they always say yes because now we've intrigued them, now we've provoked some curiosity. So they say, "Yeah, why is that a red flag? Tell me." Which brings us into step four, which is the value statement. And there's a couple ways you can respond to this objection, but this is probably my favorite. And I think it really resonates with the seller. And so this is what you're going to say: "Mr. and Mrs. Seller, if a agent is that desperate for money that they're willing to drop their own income, the money that they use to provide for their family, how quick do you think they're going to ask you to drop your price? How quick do you think that they're going to be weak at the negotiation when you get an offer just to get a deal done when no one's looking?" And be honest. I mean, this agent has demonstrated in front of you that they cannot even negotiate their own income. How likely is it, if we're being honest, because listen, we're trying to protect your net bottom-line income, your net bottom-line equity of your home, right? Well, if I'm you, I want an agent that is a strong negotiator, which I'm sure, at the end of the day, is exactly what you're looking for. Would you agree? And then we go into step five, which is gaining the prospect's agreement. "So Mr. And Mrs. Seller, why don't we do this? I'm a hundred percent confident that I can get your property sold at a price that will cause you to net the most money in your pocket, bottom-line, even after paying my commission. And so if you guys are comfortable and confident in me as well, why don't we go ahead and move forward? We'll go on and get the paperwork done. And if there's the day that ever comes where you feel different, you always hold the right to fire me at any time. Does that seem reasonable?" And if you guys can deliver that with conviction and confidence, this is exactly what the sellers were hoping to see when they set up the interview with you in the first place.
So let's move on to our next objection. We want to interview other agents. So step one: our agreeable acknowledgment. We say, "Listen, that makes sense." Step number two: speaking through the prospect's point of view, not your own. You're simply going to say, "If I was you, I would probably want to interview more than just one agent.' This is showing compassion, and more importantly, this is showing strategic empathy for the prospect's point of view, which is exactly what we're trying to do in step two. This brings us into step three, our assumptive statement or a question, and right here, we're going to do something a little different called isolating the actual objection. So here's what it sounds like. You're essentially going to go through and ask the prospect a couple of questions about any and all their concerns to try and isolate the actual concern they have because when they say they want to interview other agents, it's for a specific reason. And this part, what you're going to learn right now, is how to identify what that reason potentially is. So here, you're going to ask the prospect, "Mr. and Mrs. Prospect, so can I ask you, based on our pricing strategy and my price recommendation, is that something that you're a hundred percent confident and comfortable with? And the numbers that we talked about, how I broke down the cost of selling, we talked about transfer tax, we talked about title, we talked about my flexible compensation structure, do you guys think that that's fair for you and do the numbers all makes sense? Okay, great. And are you comfortable with me representing you in the sale of your home? Is there any questions that maybe we haven't talked about that you'd like to ask me now?" And if they say, "Yes. Listen, I'm comfortable with all that stuff, Brandon, that you just went through," then you're simply going to say, "Okay, got it. So really you just want to make sure you do your due diligence, interview more than one agent, which again, I think is smart, before you make the final decision, is that right?" And you really want to isolate this here. And because what you're looking to have occur at this point in the sales process is you're trying to draw out objections if you can. But if they say, "Yeah, that's it, we want to make sure that we do our due diligence before we ultimately hire somebody," then you can move on to step number four, which is your value statement. So with this objection, you can simply say, "Well, why don't we do this? It sounds like we're on the same page. Why don't we go ahead and get some paperwork completed now, I'll start doing some pre-marketing to some of the buyers that I was showing you earlier in our meeting, and you can continue to interview other agents. And if you find that, through the interview process, that there's another agent out there that you'd rather work with, no problem, I totally get it, I'll come back, I'll rip up the contract in front of you with you, we'll shake hands, and part ways as friends." Which now we get into step five and we simply say, "Does that seem reasonable? Does that seem fair?" Because what we have to do is get better and strengthen our approach when it comes to asking for the business. I think too many real estate agents, I see this all the time, where agents don't have the courage to ask for what they want, which is exactly what sellers are actually looking for when they hire an agent. So after you've gained agreement here, you can add one more thing that is really powerful that I think really helps you move past this objection. After you say, "Listen, Mr. and Mrs. Seller, is that fair? Is that reasonable?" They say, "Yeah, you know what? That's fair. We'll go on and get some paperwork done and we'll interview the other agent." Now you and I both know after we get that contract signed, the likelihood of them interviewing another agent is very unlikely, but you can also say this, "Mr. and Mrs. Seller, keep in mind that just because you hire me and not another agent that you might be interviewing, doesn't change the fact that that agent can still bring us a buyer, that agent can still sell the house, that agent can still earn income. You can still have the opportunity. We all have the opportunity to continue to work with other agents in the marketplace. We don't lose that opportunity." And when I say this to a seller, they say, "Yeah, you know what? That's a good point." Because sometimes they feel bad, right? They had some conversations or maybe they had some good interactions with another agent, but they didn't feel as comfortable or as confident in that agent as they did in maybe you or I, but they still feel bad. This last piece of this objection response will help them feel better about their decision to move forward with you.
Now, let's move on to objection number three, which is when a seller says, "You know what? We think our house is worth more money." Now, again, we go through the same framework. Step number one, our agreeable acknowledgment. You might say, "Listen, I can completely see where you're coming from here." Step two, we've got to speak through the prospect's point of view, not our own. And you might say something like, "Hey, listen, if I was you, I'd also want to make sure that I don't leave any money on the table, that I really want to take advantage of this market, I really want to push the envelope here. And so if I was you I'd probably want to do the same thing." Then you get into step three, which is your assumptive statement or question. And in this objection response, here's what you're going to want to say. "So why don't we do this? Why don't we go in and hit the market at a price that you feel confident and comfortable with? And given that the average time that homes are selling in your actual neighborhood is about 14 days, so if we hit the market at a price that you feel confident and comfortable with, one of three things should occur, can I share those with you?" This leads you right into step four, which is your value statement. Here's what you're going to do, this is how you're going to explain what I call the one-of-three-play when you're pricing property that gets a seller to dig in with their decision, ultimately, and set you up to not be the villain, but to be on their side so if the price doesn't sell at their price, it's not your fault, it's actually their fault and you can get them to agree to it right now. "So Mr. And Mrs. Seller, within the first week or two, based on the market, based on home selling, an average of 14 days in your neighborhood, when we hit the market, we should anticipate a ton of showings, a ton of traffic, a ton of interest. Matter of fact, we should get potentially multiple offers within the first week or two of hitting the market. If the price is in line with what the buyers are willing to pay, that is what we should experience. Now, the second thing that may occur when we hit the market at this price, we could be in a situation where we get a lot of traffic, we get a lot of showings, we get a lot of interest, but no buyers are willing to write you an offer. In this case, Mr. and Mrs. Seller, what do you think has occurred?" And this is where you use the reverse selling strategy and polling using a Socratic style question to get the prospect to say, "Yeah. I mean, if we get a lot of traffic and we got a lot of people coming to the property, no one's writing an offer, probably priced too high." Okay? Then you could follow that back up and say, "Yeah. I mean, if that's the case, we can make a small pricing adjustment. And I'm sure that in the next couple of days we can pull in an offer. And then, Mr. and Mrs. Seller, the third thing that can occur, which I don't think will be the case, based on today's market, but it could happen, if we hit the market at this price and we don't get any interest, we don't get any showings, we don't get anybody that wants to write us an offer, in a sellers' market like this, in an inventory situation that we're in that we've never seen before in the history of real estate, if that happens, it's the market's way of simply rejecting the price that we're offering. And at that moment, within 14 days, we'll have to make a price adjustment immediately so we don't end up sitting on the market, becoming a stale listing, and risk losing thousands of dollars in an offer because of how long we've been on the market. Does that make sense?" And what you're looking to do here is set some good, clear expectations with the seller so that you, as the agent, the seller totally on the same page, totally makes sense, we've talked about it upfront, because I don't want you necessarily losing a listing right this second in today's market, where homes are selling for a lot more than any of us have ever thought. I don't want you losing an opportunity because they want to price at 20,000, $30,000 higher than what you have. Right now it doesn't make sense to walk away from those listings because, chances are, you're probably going to get it.
Next, let's talk about the fourth objection, which is the classic, "Hey, we need to kind of think this over and we'll get back to you." These can be tricky because, historically, if you think about all the prospects that you've ever met with who told you they have to think it over, get back to you, how many of them get back to you? Not very many. And so what you're going to want to do here, like we talked about when we worked on the objection on, "We want to interview other agents," we want to do another isolation here. So here's what you're going to do here. So step one, using our agreeable acknowledgment again. You can have your favorite one. Mine's just like, "Hey, listen, I think that makes sense." Step two, which is speaking through the prospect's point of view, you might say, "Listen, if I was you, obviously, this is a big decision and I'd probably want some time to kind of think it through before making any big decisions so I totally understand." Then we get right into step three, which is our assumptive questions. And so here you're going to do some isolation. "So Mr. And Mrs. Seller, can I ask you when we talked about our pricing strategy, are you comfortable with the price I've recommended, and do you believe that's the right price for the home?" Again, we're looking to pull an objection out. If they're not comfortable, we want them to tell us, "No. You know what? The price is out of line. We think it's worth more." Ah, there's the objection you actually want to go back to and work through because, "Think it over," might not be the actual objection. Okay? Then you want to walk them through next and say, "Well, Mr. and Mrs. Seller, Mr. and Mrs. Prospect, when we walked you through the numbers, when I walked you through how my flexible compensation worked, we talked about transfer tax, we talked about title, we talked about paying off the mortgage. Is this number that you are going to net when we sell the home in line with what you thought?" And again, we're looking for them to say, "Yeah, we're comfortable with that number," or "No, we thought we'd be getting a lot more than that." "Okay, good. Well, then we need to spend some time there." Next you're going to say, "And lastly, I guess, let me ask you if the day came where you decided to move forward, are you comfortable with me as your agent? Are you confident in my ability to get your property sold?" We're looking for them to say, "Well, we didn't really like this about that, or this about what you said here." The point of isolating objections is to pull out the real concerns because here's what happens, in sales, the thing that they tell you upfront is rarely the thing that's holding them back. And the classic, "We need to think it over," more times than not, I would venture to say 90+% of the time when a prospect says, "We need to think it over," it's not that they have to think it over, it's based on something else. And this is where you need to isolate that something else. Once you've isolated that there's nothing else, you can get right into step four, which is using a value statement and say, "Mr. and Mrs. Prospect, why don't we do this? Why don't we go ahead and get some paperwork done quickly? I'll go ahead and start doing some pre-marketing work to some of the buyer prospects that we've talked about today. As you think it over, over the next couple of days, if you come to the decision where I'm not the right agent, I'll respect that, I'll come back to the property, I will rip up the agreement with you, we can shake hands and part ways as friends." And then you lead right into step number five, which is gaining agreement, and you simply say, "Does that seem reasonable? Does that seem fair?" Or you can use the classic, "Fair enough?"
So the next thing I really want you to do is, if you want to see how I deliver these objections in a live listing presentation, I made a video right here where you can see me handling these objections in a live listing presentation role-play. Click this video right here, check it out, and I hope today's video provided you value. If it has, make sure you subscribe, like the video, and I will plan on seeing you guys in the next video very soon. Thank you guys so much for watching.