Over the past couple of weeks I posed the question to you, our community of commercial real estate brokerage professionals:
“When you go after new listings, what are the objections that you most commonly hear?”
This week I discuss the 3 objections that you said were the most common. I wasn’t surprised to learn what the “Big 3” were and there were certainly plenty of others. One that was particularly interesting was from Adam in Nashville who said “A lot of the prospects I call on just plain don’t like brokers. They put us in a category lower than used car salesmen. I’d say they just generally object to our existence.” Hopefully that isn’t true on a large scale and I must say it is the first time I’ve heard such an all encompassing “objection”. I’m proud of our profession and you should be too.
There will always be objections to overcome as you move through the process of earning a new assignment. Remember, when a prospect says no or raises an objection, typically it just means that they need more information to make an informed decision.
So the three objections that you said were most common consisted of:
- Objection to signing an Exclusive Representation Agreement;
- Objection to the amount of your commission or fee;
- Objection to the price you recommend taking the listing to market at.
Session 5 gives you some tips for what to say when these objections come up and how to effectively deliver the message. Overcoming objections is key to winning the business more often than not, so take these strategies and start putting them into practice in your commercial real estate brokerage practice today.
LINKS AND RESOURCES MENTIONED IN SESSION 5
Session 5 was pure training and as such is a resource in and of itself. For resources related to the topic and many other things simply go to the Resources section of the website and browse.
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