In Real Estate sales you have to overcome a lot of objections and rejections. Nothing unusual really as it is a common factor in any sales industry.
There have been many times in my career that I have felt utter despair, after negotiating for weeks on end on a sale of a property and then having the Bank turn the buyers finance down, or perhaps the property fails a building inspection.
It is often hard not to take it personally even though you have done everything in your power to get the sale across the line for your Seller.
I liken it to being thrown against the wall and then slowly rolling up the remnants of myself and springing back up again into a positive frame of mind.
It is sadly often the case that your Seller will not acknowledge the work that you have put in if a sale falls over, even though it has nothing to do with your skills.
Remember, the Seller only pays commission if the property sells, so often you can do months of work for no return, if the seller then decides to list with somebody else after the sale falls over.
There are many ways that successful people will overcome an objection or a rejection in order to succeed
Successful people will be the first to tell you that they would not be the people they are today without having to face rejection head on and having learnt something from it.
After all, life is about 10 % of what happens to you and 90 % about how you react to it. We are all in control of our own attitudes.
“Nobody can make you feel inferior without your consent”
6 steps to overcoming sales objections
- Anticipate and listen to the objection and do not take it personally.
- Create answers showing that you understand the objection asking “open ended questions”
- Respond having done your homework, so that they feel that you are taking their objection seriously.
- Present with the right attitude, professionally, pleasantly, and with empathy.
- Remove the objections calmly one by one, making sure that it is not just a brush off ( i.e. they are never going to buy or have no authority to make a decision)
- Confirm to move ahead, logically overcoming the objection and getting their agreement ( i.e. “Great, let’s move forward then and I will alter the documents to reflect the changes”)
Remember that there are key listening skills to practice to go with your product knowledge.
- Be attentive
- Ask open-ended questions
- Ask probing questions ( i.e. how soon do you want to sell?)
- Request confirmation of the conversation you have just had
- Do not judge or offer advice until you are more familiar with the facts
- Be empathetic and attuned to reflect feelings
- Lastly summarise the facts in a collaborative way.
Success is the ability to go from failure to failure without losing your enthusiasm –Winston Churchill
Top salespeople are always ready with a response to a rejection
They remember words, phrases and responses in order to redirect or change the conversation with.
They do not take things personally and choose emotional distance, and are not afraid to ask the hard questions.
It is important to remember that often prospecting for new business is ” a numbers game” and selling is “listening to what is not being said”.
I love it when a buyer finds fault with a house. They are often telling you that they are actually interested and there will be some negotiation involved.
For instance, often a buyer might find fault with the kitchen or the carpets, shaking their head saying that it could cost a lot to replace.
Having the right answer is critical if you want to sell the property.
Make sure you have all the facts and figures before you go to market. If the kitchen does need fixing, or the carpets replacing, then know the costs involved.
Be realistic and again do not take any negative comments personally.
“Confidence comes not from always being right but from not fearing to be wrong”