This week’s Keeping it Real features Jeff Glover of Jeff Glover & Associates, giving his answers to the top 10 real estate objections.
Jeff Glover started his Real Estate career at the young age of 19. With a strong focus on learning how to sell, prospect, and present, Jeff quickly became the top agent in his office.
After selling 30 homes in his first year in the business, he was sought out by the largest Coldwell Banker firm in Michigan to manage one of their offices.
Jeff started what is known today as Jeff Glover & Associates, and in 2009, he took his team to Keller Williams. That team is now composed of over 25 agents selling over 1,000 homes per year.
Not only are they the number one real estate team in Michigan, but they've also been recognized locally as "The Coolest Place to Work", a huge point of pride for Jeff, as culture and camaraderie among the team and the administrative staff is priority number one.
Jeff also runs GloverU - a coaching group with free resources such as The Glover Gazzette, a quarterly publication produced by Jeff and his Glover U coaches, and the GloverU Inner Circle Facebook group.
Jeff is on the ground every day with his team and knows the fears of buyers and sellers going into the spring of 2022 as has prepared his latest answers to the top 10 real estate objections.
Objection #1: Why do we need to pay agents in his hot market?
“The reality is most consumers right now are hiring us not to sell their homes … but to get it to a closing table … 2/3 of all real estate agent-assisted transactions do not make it to the closing table at the same price and terms as originally negotiated. ” [Jeff Glover].
“That means then, There's more than a 66% chance that you’ll have to renegotiate your purchase agreement, re-negotiate some of the terms with some of your buyers, and that’s where we come in.” [Jeff Glover].
Something that you can highlight throughout each of these objections is what you bring to the table as a negotiator.
Yes, your clients will have to pay you out a commission, but you can get them more money in their pockets at the end of the day.
Almost any objection can be countered by highlighting your strengths as a negotiator and your ability to solve any problems or roadblocks that your clients might come across and not know how to navigate themselves.
Objection #2: Why should I use you and not someone with more years of experience?
An objection many younger real estate professionals might face is a client looking to choose someone with more years of experience in the industry.
Everyone has to start somewhere, and although years of experience might not be your strength, highlighting your knowledge of digital marketing and how you can create a personalized solution that results in more money in your clients' pockets and bringing strong negotiation skills will open some minds.
Objection #3: I wanna sell but where to move? Where do I go?
This objection will look different depending on which market you are in. Present a timing analysis to your clients. A timing analysis essentially takes into account the time it currently takes a seller to get their house on the market, get it sold, get their money, and move.
A timing analysis will help your client time the market to get the best price, and avoid running out of time and jeopardizing their plans. This will again allow you to highlight the value of having an experienced negotiator to bring the client’s deal to a closing table and maintain the desired timeline.
Objection #4: Improvements to be made
"Handle the objection, close, pivot if they don't allow you to have the close. Handle objection, close, pivot if they don't allow you to have to close." [Jeff Glover].
Never handle an objection without closing for the next level. Whether it be booking a follow-up meeting, a follow-up phone call, or signing a contract, never handle an objection without tying a loose end.
There is always an opportunity to close from something. Handle the objection, and if they don't let you close that means changing the discussion towards solutions.
"When all else fails I wanna get in front of someone, especially in a listing scarce market!" [Jeff Glover].
Another great way to answer objections is by creating a value-add. Jeff’s example of a value-add that he deploys is creating a landing page (improvemyshelter.com) where prospective clients can book a virtual property evaluation/walkthrough.
You can create many simple value-add landing pages where you can place prospective clients into your pipeline who might not be ready to sell just yet or need to make some improvements to their homes.
Better yet, be the one to consult these clients on what additions to their home yield the most value through a landing page consultation of your very own.
This not only places more prospective clients into your pipeline but provides an opportunity to add value and become an authoritative figure in your client’s home selling or home buying process.
Objection #5: I want to hire family or someone I know
Clients wanting to go with a family friend or family member is a common objection but often not the best match. It’s been said it's better to not mix business and pleasure and when it comes to real estate it's often best to go with a neutral party.
Helping your client see this is best done by hitting on the previously mentioned: “2/3 of all real estate agent-assisted transactions do not make it to the closing table at the same price and terms as originally negotiated. ” [Jeff Glover].
Objection #6: I just need a buyer.
“You want a diverse group to role play with. Do this by getting to events and role play with people not like you! ” [Jeff Glover].
Objection #7: Zillow Says
The Zillow Objection - this one is very common, always check on Zillow before you meet with prospective clients and know what the prospective client’s information on Zillow says.
Consumers respect and trust Zillow so it’s going to be your job to get out in front of them. Check not just Zillow but ALL home evaluation sites before meeting with your client.
Never bash Zillow or any home evaluation site that your clients bring forth, as bashing these resources only makes you look unprofessional.
Instead, come prepared with all the home evaluation stats to your meeting and hit on the point that although these sites might have an estimate on what a home is worth, these sites have not seen the inside of the home or been around the property, and often that is where much of the discrepancies are found.
Objection #8: Will you reduce your commission?
“No. But I will get you more money through driving more traffic. Traffic is leverage … leverage is all about getting someone to pay a significant amount over the value … with propper traffic and negotiation strategy I can net you 10k,15k, 20k more ” [Jeff Glover].
Saying no takes confidence, and it might take you years of practice and roll playing to build the confidence to say no but being able to do so is what makes you a pro.
Whenever you are handing down an objection of your own always come back with something you can do so it’s not tense or awkward and your able to keep the conversation moving.
Objection #9: But other agents will take less!
Similar to the objection above, whenever you are handing down an objection of your own always come back with something you can do.
Always start with a statement of agreement or acknowledge how the client feels.
Objection #10: Buyer-side Objections - We don't wanna compete with multiple offers.
Always start with a statement of agreement or acknowledge how the client feels again with "I can see why you feel that way" and touch on contingencies, bidding wars, and other current events that have clients worried.
Close with what you can do, touch on the advantages of the current situation like locking in a lower interest rate, etc.
Jeff noted this is a great time to bring out any value adds like before -- He uses a Buying Power checklist that anyone can receive by texting the word: "BUYER" to 55444.
This value add is similar to what Jeff uses in his buyer consultations and places new buyer leads into his pipeline for down the road.