If you’re new to real estate or new to prospecting, cold calling for listings can force you out of your comfort zone. Many fear the constant rejection that comes with cold calling, but there are plenty of ways agents can deal with objections. Here are three tips for getting past the biggest ones:
Keep the conversation flowing. Many times, agents who are not used to pushing boundaries, will simply end the call prematurely. While the person on the phone may object right from the start, that doesn’t mean you can’t get the conversation to move forward. Listen closely to what they are saying to you—these are typically the obstacles that they’ve encountered in the past and do not want to face again. If you can provide a unique solution to these challenges, you can prove you are the right agent to list their home.
Stay away from the offensive. In order to keep a potential seller from getting defensive, you need to maintain your own calm and ensure your words aren’t incendiary. Focus on questions that will get you more information while establishing yourself as a subject matter expert. For example, if you’re on the topic of motivation, don’t push on the fact that you won’t do business with someone who wants to underprice their home; instead, ask them what their top priority is…”To sell,” they say? Then that’s your in because that’s your priority too, and price is a big part of that.
Be as well-informed as possible. Do some research on neighborhood comps, such as average listing prices compared to accepted sales prices, as well as days on market. This is especially important if the person you’re speaking to has an expired listing. Find out why their previous agent wasn’t able to sell the property. That way, you can tweak your own strategy for selling and present strong reasoning when it’s time to address this consumer’s biggest concerns.
Overall, the biggest thing is confidence. When you get on the phone, you need to sound like an expert and you need to react like an expert. You’ll often be thrown a curve ball, which will only help to strengthen your cold-calling game. Write down all of the potential objection scenarios you can think of—if you’re prepared to tackle them on the spot and without fear, then that listing is as good as yours.
Liz Dominguez is RISMedia’s associate content editor. RISMedia is the residential real estate industry’s definitive source for news and information. Email Liz your real estate news ideas at email@example.com.