This week we have one specific objective in mind: Overcoming THIS objection: “If it’s such a seller’s market and there is no inventory, where would we go?” You know you can help people find the perfect home for them, but there are a lot of homeowners who fear if they sell their home, they’ll have nowhere to turn to. So let’s overcome their fears and get them “un-frozen” to generate more listings!
Here are Four Ways to Overcome the No. 1 Listing Objection. The biggest idea you want to convey to a homeowner is that ultimately, they are in control.
No. 1: Tell them they can extend the closing to meet their needs. Lots of people don’t realize they don’t have to stick to a “one size fits all” contract. They can put whatever terms in it they choose.
Make sure homeowners are aware they can stipulate the closing doesn’t happen until a date that’s suitable for them.
No. 2: Sell now, rent back. Many buyers are happy to get any offer accepted right now, so they’re making concessions on their move-in date. We’ve talked to lots of agents who say it’s not uncommon to include a 45-day “rent back” clause into a sales contract to ensure the homeowner has plenty of time to find and close on their new property.
No. 3: Make the sale contingent on finding a new home. If homeowners are still uneasy, take it a step further and make the sale contingent upon them finding their new home. Keep reiterating they are in charge here!
No. 4: The ultimate control: Saying ‘no’ is always an option. Remind the homeowner if things don’t work out to their satisfaction, they can always turn down any offers they get. Meanwhile, you’ll be doing your work to find them the perfect new home to ensure they won’t need to take that step.
Try these scripts and dialogs on for size with your sellers…… “It’s a valid concern. A lot of past clients have felt the same way. This question demonstrates the importance of us getting together, so I can show you how our team wins bidding wars, identifies off-market properties and make sure we look at options for you. That’s what you want, right?” When you get together, be sure to show them what you do to help them find the perfect next home while working on the sale.
“That’s exactly why buyers hire me to find them a home. You see, our team doesn’t just wait for a home to show up on the MLS. We proactively call. We mail letters and we make targeted social media posts to homeowners letting them know we have a buyer that might be interested in their home. And if we were to find you the perfect home, instead of waiting for the perfect home, would that work for you?” Bottom line: Let these homeowners know they have options, make them feel comfortable, and get them off the fence!
I have included a visual tool that always seems to help in this very situation. The power in a visual tool versus just saying things to a seller is game changer, I call it the “Home Seller Protection Plan”. The idea is that you the agent sign this form and date it yourself and then hand this to the seller putting your promise in writing to protect them from being homeless and making sure they don’t have the problem of "no-where to go"! What’s your next move? Win the low inventory seller objection game and keep the listings and business moving in this resourceful thinking outside the box time. Let me know how you plan to implement these approaches in the comments below!
Strength and courage,
Wade
