4 of the Most Common Expired Listing Objections
by Walter Sanford
There are only two goals after you’ve qualified an expired listing lead:
#1 – To determine if there is still motivation to sell
#2 – To obtain an appointment for a listing appointment
Here’s a few ideas to help you handle the most common objections on that first call…
1. If the seller says they are considering re-listing with the same agent, congratulate them and ask if they’d like their home evaluated from a fresh perspective.
Tell them your evaluation will consist of new ideas they may not have considered that could even result in a higher net. You can tell the seller there’s no pressure and they can even share these ideas with their original agent should they choose to re-list.
The secondary effect of this appointment (which you should tell them) is the more you become educated on their property, the better the chance you have of explaining and selling it to your buyer database.
Once you meet with the seller, show them your plans and how you put their needs in front of yours — they may just consider not renewing with the prior agent and try the marketing process with a new enthusiasm through you.
2. If the seller says they would like to wait a while, remind them of their original motivation.
Typically, motivation does not reveal itself on the first question. For instance, if they say they would like to move to the Midwest, you might have to say, “What state?” When they say that they are moving to Illinois, you might have to say, “Mr. Johnson, what will moving to Illinois do for you?”
The key is to ask these questions in a warm and caring way to illicit and connect with their true motivations for selling. When you can tap into the emotional side of the sale your almost there.
When they say that moving to Illinois will allow them to be closer to their kids and grand kids, you might say, “Well, how will that make you feel?” When they tell you that it will allow them to see their grandchildren grow up, you could say, “Well, Mr. Johnson, if you would grant me the permission to meet with you and your wife for just 15 to 30 minutes tonight, I believe I can show you a plan that will get you closer to your grandchildren.”
3. Remember, if you can determine the need to sell is still there, your only goal and focus is to get the listing appointment. If they tell you that they no longer wish to sell, then help them through their discouragement.
You can say, “I understand that living in a ‘fishbowl’ is no fun; however, may I ask why you first put your property on the market?” If you are nice and do a good job of matching and mirroring the client, they might just tell you. When they do, ask “May I ask what has changed about achieving (insert their goal for selling)?” If nothing has changed, all you have to say is, “If I could show you a marketing plan customized to your home and to meet your goals, would you meet with me?”
4. One of the problems you may face is the seller wanting to start a commission reduction discussion.
Try this… “In my whole career, commission has never gotten between a client and their goals. Can we talk about this when we meet?”
More from Walter to help you get the appointment and leave with the listing…
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