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Real Estate
JANUARY 5, 2011 VOLUME 2, NUMBER 1
“I know the price
Objections Are Opportunities
of success:
We all want our prospective home buyers to just "roll over." Even a neophyte Agent
dedication, hard finds it easy to make this type of sale. An unskilled salesperson fears hearing
objections, but a great salesperson views objections as opportunities.
work, and an
unremitting When you get an objection from buyers or sellers, make sure that you hear clearly
what they are saying. If you interpret the objection wrong, the answer you give,
devotion to the no matter how eloquent, will not be sufficient to overcome their area of concern.
things you want Let me give you a few techniques I have used to turn objections into dollars. I
pause to make sure I clearly understood, and then repeat what they said or ask them
to see happen.” to explain further. This technique will do a few things for me. First, I can confirm
what their objection was to ensure I understood it properly. Second, it enables me to
Frank Lloyd
be well prepared when I respond. I bought myself a few seconds while my brain
Wright prepared my answer. I was able to respond in a powerful, well-planned manner.
Third, I avoid the big mistake of trying to answer the objection before the buyer or
seller gets the objections completely out of his mouth – as if stopping the buyer or
seller from stating the objection completely will stop the objection, and it will go
away. The objection is legitimate to that person, no matter how ridiculous it may
sound. He feels it is legitimate, so it is legitimate. Interrupting can cause the seller or
buyer to become irritated with you. It may not matter how well you handle the
objection if you interrupt him.
Your mental approach to an objection will determine your success or failure.
Most Agents dread hearing an objection, but most objections result from one of two
situations. One is the seller or buyer has legitimate concerns regarding the property
and/or your skills to sell his home. The other occurrence of objections is because
your presentation was not good enough. You did not convey the confidence that you
are the person for the seller to hire for the sale of his home. You did not make a
convincing enough presentation for the buyer to purchase the home you showed him.
The clients’ desire to work with you is a natural ending to a good presentation. If the
presentation is weak, the objections will flow like a river. There are really only about
forty possible objections in the selling process of real estate. The question is
why haven’t you learned them all? If you wrote them all down and practiced them for
half an hour a day for the next six months, you would know them automatically. You
would be prepared for any situation in selling. You would then have the confidence to
say, “Bring them on; I am ready for them.” There are about ten to fifteen that are
the most common objections that will stop unprepared Agents in their tracks
90% of the time. How difficult would it be to learn just those ten in the next 30 to
60 days?
The problem is we do not regularly practice countering objections in real estate.
The Dallas Cowboys spend four to six hours a day practicing football. The players and
coaches spend a couple more hours a day reviewing film and studying their play
books during a two month span in spring training, and then they play four practice
games in pre-season to prepare for the real NFL season. Next, the players and
coaches spend a few hours a day practicing and watching films, five or six days a
week to prepare for one 60-minute game. They will spend forty to fifty more times
practicing and preparing for the game than actually playing the game. How skilled
in sales would you be if you adopted that regiment? How about if you practiced
even one hour a day on your skills at overcoming objections? You would become an
unstoppable real estate sales person.
The second observation regarding objections is they truly are an opportunity to get
a signed contract. When a buyer or seller gives you an objection, he is presenting
you with an opportunity to close. He is basically saying, “I like this, but there is one
factor I do not like.” The buyer might say, “If the home you are showing me had a
larger patio, it would be right for me.” All you have to do is get him a larger patio,
and you have made a sale. You must put your problem-solver hat on. If you solve
his problem, then you get the opportunity to ask him to buy. The client can
say, “Yes”, or give you another objection. If he gives you another objection, you get
another opportunity to solve the problem and ask him to buy. This procedure may
continue for a few objections. Do not give up; you are getting closer to a sale. As
long as you are able to continue to solve his problem, the client will buy. Remember,
you are the problem solver.
Too many Agents adopt the position of a deer looking in the headlights when an
objection comes their way. These Agents have a negative mental attitude towards
objections. They view objections as a big wall between them and the sale – a wall so
tall they cannot see a way around, over, under, or through.
Join the ranks of the highly-skilled and highly-paid professional
REALTORS®. Change your mental approach to objections. Implement a practice
program. All it takes is a daily commitment to practice for at least 30 minutes.
Commit today; you will not believe the results 60 days from now.
Announcements
“I'm a great
Happy New Year! - Wishing everyone a prosperous 2007.
believer in
luck and I
find the Remote Floor Time – Want Leads? Sign-up for Floor Duty! Call or email Allison at
harder I the Fair Oaks Office to sign up for floor time in the morning or afternoon.
work, the
more I have Forward Voice Mail – Did you know that you can have messages from your office
of it.” voicemail automatically routed to your cell phone? See Tawny for more details.
Thomas Training –Check the Superstar Calendar for upcoming dates and times on our
Jefferson training classes this year. Many of the topics have been chosen by you in our recent
survey. Our technology class will now be a workshop class. Please note, all classes
and workshops will require an RSVP to Allison or Tawny if you are planning to attend.
Office Closed – On January 15 for Martin Luther King Day.
Meetings – Don’t miss our next meeting, January 17 th! Special workshop after our
agent meeting from the Brian Tracy group! They will be coming to our Roseville
office to hold a fabulous workshop on how to increase your sales by 25% in just 6
months! And close more sales in less time. Should be exciting, plan to attend!
Introducing – Fong Real Estate is proud to unveil the Premier Collection.
The Premier Collection is our level of distinctive and high-end homes for sale.
In qualifying, this group of elite homes and their Sellers receive Privileged Real Estate
Services, Exclusive Marketing and Special Client Benefits second to none! Look soon
for your information packet and materials on this exciting new product.
Education Round Tables Event – February 2nd. Each year, the Sacramento
Association of Realtors holds a special Education Round Table with some of the top
agents and brokers from the Masters Club. Each of them sharing ideas on great
topics. Your broker, Glenn Fong, will be teaching the topic “Working with Investors
and 1031 Tax Exchanges”. Refreshments served. $10 Pre-register and more details
at www.sar.org. Or see flyer in the office. Time 8:00am-12 noon at SAR Auditorium.
Las Vegas – This year’s National Association of Realtors Convention will be held in
Las Vegas, NV. The dates are November 13-16, 2007. If you haven’t attended a
national convention yet, now is a great opportunity to attend this one! Mark your
calendar and join the fun! Our office is planning to go together as a group. It is very
impressive when 30,000+ Realtors take over a city! More details, hotels and booking
can be found at the NAR website. Save the date!
New Forms 2007 – It’s a new year and some of our CAR Forms have been updated
and are now in effect. Please be sure to update your Winforms Library if you use the
desktop version. Old forms are no longer honored by CAR nor the office. For a list of
new forms, go to www.car.org or see the flyer in the office.
“They say that
January 2007
time changes
things, but you Sunday Monday Tuesday Wednesday Thursday Friday Saturday
actually have to
change them 1 2 3 4 5 6
yourself.” Office Harmon
Closed! Homes
Andy Warhol Happy Deadline
New Year!
7 8 9 10 11 12 13
Skills and
Support
9:00-10:00
14 15 16 17 18 19 20
Office Meeting Workshop
Closed! and Tour = 9:00-10:00
Fong Real Estate Martin Roseville
10100 Fair Oaks Blvd Luther Office +
Suite F King Day Brian Tracy
Fair Oaks, CA 95628 Workshop
(916)967-3900 Office
(916)967-3994 Fax 21 22 23 24 25 26 27
Career
915 Douglas Blvd
Build
Suite 3
Roseville, CA 95678 9:00-10:00
(916)899-7373 Office
(916)960-5426 Fax
Delta Star Management 28 29 30 31
(916)536-5600 Office Meeting
(916)536-5605 Fax and Tour =
Carmichael Mortgage Co
Roseville
(916)967-3900 Office Office
(916)967-3994 Fax
“Beyond the mountains there are mountains again.”
Haitian proverb
“I don't wait for moods. You accomplish nothing if you do that.
Your mind must know it has got to get down to work.”
Pearl S. Buck
