Top Real Estate Objections and How to Approach Them
Real Estate is a rewarding career with a lot of positive moments. Every day, agents have the honor and privilege of placing families into their forever homes. However, even the most experienced agents will face their fair share of objections from clients. Below are a few of the most common real estate objections, and some recommendations on how best to approach them.
“I’m firm on my price…”
It’s quite common to have sellers that are unwilling to lower the price of their home. In the instance, you want to educate the seller and let them know that it is ordinary for the price to drop on the open market. In fact, according to Zillow about 13% of sellers cut drop the price of their home at least once.
“It’s a bad time to buy…”
Expect buyers to be concerned about the current market. This is where your knowledge and expertise of real estate kicks in. Explain that each buyer’s situation is unique. The state of current conditions can mean something different to each buyer.
“I’m just looking…”
“Looking at homes is so exciting and part of why I love what I do! What inspired you to look for a home today?”
Regardless of the buyer’s timeline, they are interested in real estate. Hone in on the reason for their search to better accommodate their needs.
“Can you lower your commission…”
When faced with this type of question, many agents will default to reiterating their experience as an agent and why they are worth the commission rate. However, this type of response can sometimes give the appearance that you are on the defensive.
Rather than focusing on yourself, reframe the conversation to address their main concern of saving money. Discuss all the ways that working with you will help your buyer save money in the long run, or help your seller get a higher sale price on their home.
“The home I want is too expensive…”
When a buyer feels that a home is outside of their budget, highlight the difference between what they want in a home vs. the dollar amount associated with a property. They very well may be able to afford what they want.
Real estate pros will always encounter objections, but the key is knowing how to handle them. Clients respect reps that are knowledgeable, and they seek peace of mind in that knowledge. Be sure to keep these talking points handy when handling those first steps of the process!