I think one of the hardest things for most of us is dealing with objections from clients. The first key to successfully handling objections is to NEVER take the objection personally. Remember, an objection is really a request for more information or clarification, which is an opportunity for your help.

Here are some simple and easy steps for overcoming objections:

1. Acknowledge

2. Ask Questions

3. Confirm

4. Respond

5. Ask for Action

Acknowledge the Objection:

After someone poses an objection, it is important to immediately acknowledge their concern. People need reassurance they are being heard and taken seriously or they won't feel you are looking out for their best interests.

One method to quickly accomplish this is through the Three F's Method: Feel, Felt, Found.

For example, if the objection is, "I don't want to pay that much in closing costs," you might say, "Mr. Seller, I understand how you feel. Some of my past clients felt the same way, and after working together on the issue, here is what we found..."

Don't say you agree with the client's objection, simply confirm you are aware of their concern, or a need for clarification or more information. Acknowledge you are listening, you understand the client has a concern, and that you empathize with him/her.

ASK QUESTIONS:

Next, you want to make sure you know the true objection. Sometimes the client objects to one thing, but they are really objecting to something else. If the objection is not crystal clear, now is the time to demonstrate your expertise and ask clarifying questions to accurately assess the client's position.

Probing for information, is a good way to use open-ended questions that begin with words such as "why," "describe," "explain," "tell," or "share" to elicit a useful response.

For example, "Just out of curiosity, why do you feel that way about the buyer's request?"

CONFIRM:

After asking probing questions and effectively listening, the next step is to confirm if this is the only concern that needs to be addressed.

For example, "So, you feel the amount the seller is willing to offer for a carpet allowance IS too low. Is that the only thing that is holding us back from closing this deal?"

Keep in mind that more questions and concerns may surface as the process continues. Follow the same sequential steps discussed here for each until you move to the next step. Use your experience and expertise to proactively assist the client. There may be situations they are not aware of and your role is to educate the client on what they need to make an informed decision.

RESPOND TO THE OBJECTION:

Now, the next step is to respond to the objection. This is where we attempt to overcome the objection or concern.

It is important to be confident in your expertise and exercise control over the situation. You do not want to insult the client or come across as condescending, but you also do not want to wander away from their goal. Using real life examples, visuals, or everyday analogies are the most effective ways in helping respond to the objection.

For example, a seller wants to sell for $380,000 but the market analysis indicates comparable homes are selling at $370,000. Try this:

Licensee: So, Mr. Seller, according to the market analysis, your home is worth about $370,000, right?

Mr. Seller: Right.

Licensee: And you feel the best list price is $380,000?

Mr. Seller: Yes.

Licensee: OK, I understand. I have had many clients feel the same way. Can I ask you to consider this: do you think if we put your house on the market for $340,000, would it sell?

Mr. Seller: Of course, it would. But we would be giving it away.

Licensee: Right. Remember, the comparables are telling us $370,000 is a fair price to get the average number of potential buyers. I've found going above fair market to start is something my clients have universally regretted later. The higher you price over the fair value, the fewer potential buyers you will have (because you lose them to better homes) and the longer it takes to sell.

We all know what happens to items for sale when they are on the market too long. For example, what do grocery stores do with over-ripened, stale or not fresh items?

Mr. Seller: I guess they discount it heavily and eventually throw it away.

Licensee: Exactly, because it has gotten old and stale. When a house is on the market for a long time, it also becomes stale, and buyer requests for showings drop off accordingly. The best time to sell is as soon as you put it on the market, so we want to package it right up front--photos, curb appeal, marketing and initial listing price. After 30 days we may have to come down to the price the market analysis is giving us anyway, so we've found it is best to start there instead, when the house has its highest potential to sell and we can capitalize when it gets the most attention.

ASK FOR ACTION:

Now that you have acknowledged the objection, asked probing questions, confirmed, and responded to the objection to the client's satisfaction, the final step is to ask the client for action on his/her part to help overcome the objection.

For example, "Mr. Seller, now that everyone has agreed to each give up $250 to satisfy the buyer's request for a $500 window repair, are you now ready to close the deal?"

Here, you are strategically including the client in the process and soliciting buy-in from him/her that the objection or concern has been resolved, pending the completion of the tasks by all parties.

It's also important for us to remember- objections are coming. We should expect them, and we should not be emotional about it. It's not about us; it's about them. We are guides.

Keep this in mind and try to always be the calmest person in the room.