Customer objections are inevitable, so we at Lions group have prepared a short guide on how to deal with them in 4 steps.
Step 1:
Take a short break
When an objection comes up, listen to your client all the way. Then pause briefly to collect your thoughts. This is important to make sure you have understood the potential client's objection fully. Don't try to interrupt.
It has happened more than once that an agent interrupts a potential buyer while he is expressing his opinion, with negative results. At the same time, it's one of the biggest mistakes you can make. Interrupting and not listening demonstrates rudeness and disrespect to the client. So pause briefly as the first step of dealing with such a situation.
Step 2:
Accept their concerns as something important
After listening carefully to the customer's objection and pausing to consider it, take their concern as something important, even if it seems inconsequential. This confirms that you fully understand what the client has said and also gives you a few moments in which to prepare your response.
Notice that we are not telling you to agree with customers. You can accept their concerns and thank them for raising the issue without telling them they are right.
You can take their concerns as something important by using any of the following phrases:
"I understand your concerns in this area."
"I can see why that bothers you."
"This is a really important issue, I'm glad you brought it up."
One successful tactic in such a situation is to reinforce the feeling that you are taking your customer's concern as something important with a question or comment. Respond in such a way that they give you more information. The following phrases give you an opportunity to learn more and buy you valuable time:
"I understand your concern in this area. Why do you feel this way?"
"I can see why that bothers you. Tell me more."
Step 3:
Isolating the problem
By now you're probably done with your answer, but hold it for a moment longer while you isolate the customer's concern. Ask yourself, "If it weren't for this concern, would we be working together?"
By isolating the problem, you predispose the potential customer to voice all their concerns. In this important step, you learn everything that stands between you right now and closing a successful deal.
Use some of the following questions to bring everything to the surface:
"Is that the only problem stopping you from going ahead with the deal?"
"Suppose we find a solution to the problem. Will that make you go ahead with the deal?
"If that problem didn't exist, would you go ahead with the deal, right now?"
By isolating the problem you learn exactly what you are up against. You may face new problems later, but it's easy to repeat the process and bring things to a successful conclusion.
Step 4:
Responding to customer objections with confidence
By now you have heard the objection, paused, accepted it, and isolated the problem.
The most common objections are about the agent's commission, the recommended price of the property and the time for which the deal will be concluded. More than 80% of the objections you will hear in your broker career revolve around these points. Prepare yourself by knowing in advance exactly how you respond to these types of client objections. This will make you look confident and instill confidence in your clients.
