Overcoming The Most Common Real Estate Objections
Today we talk about how to overcome the most common real estate objections. We break it down into 3 sections. How to identify an objection from a concern. The 6 step process for overcoming objections. Finally, I overcome the 5 most common objections I hear as a real estate agent.
Below you can either listen to the podcast or watch the full video.
Here is the podcast:
85% join real estate with NO sales skills
87% failure rate in real estate
Most are afraid to handle objections and close. So they don’t
If you know what to say, you’ll call everybody.
If you know how to handle every objection you are excited for objections because you know that’s one step closer to the sale
It’s important to note that not all objections aren’t actually objections.
Don’t always have to get into objection handling right away
Objections are objections
Objections as complaints
Let them know you heard them and reassure them that this is the way it is
Objections as condition
Ask a few questions to get more context.
Is the objection a question or a doubt?
Process 1. Get into the right state!
1. Get excited
1. You want to do business with me. You have questions you want to be answered.
2. One step closer to doing business
3. Be strong in the face of objections
1. Create a connection of you and I are on the same page.
2. I understand what you’re staying.
3. Stay in agreement.
1. If you use the word BUT it negates everything you just said
2. Transition with the word AND
1. I can appreciate that… AND… has there ever been a time when (something similar) & it didn’t work? This time is exactly like that, can I explain?
2. You simply hired the cheapest person. Has there ever been a time that it didn’t work out? Did it end up costing you more money?
3. You guys want the highest possible price on your home. My marketing plan was more extensive. When we unveil your property. When asking me to reduce my fees, you are saying Kyle cut back on your marketing plan and let’s roll the dice and see if we can get the right buyer
1. Are we on the same page? Can you see how moving forward is the right move?
1. Let’s move forward. Here’s the listing agreement.
1. I have some friends that can do the same thing for a lower commission
1. There are a number of agents in town that will reduce their fees to earn your business. I’m curious, do you mind sharing that friend's name with me so we can compare his track record to my track record because commissions are always variable. What is that friend's name? 3 vs 37. What does that mean to you?
2. If he was willing to give up that commission to you how well do you think he’ll negotiate when it comes to an offer on your home?
3. We charge 3%
2. We have a specific number that we wanted to sell the home for.
1. We went through all the sold comparables
2. I’d love to get you $100k more for your home, but I’m not buying your home. My job is to market and expose your home to the highest number of qualified buyers and agents for your home. Heres the challenge. It doesn’t really matter what you want. When you go buy your home. Do you look at all the sold prices and say, you know what, “I’m going to give them a bit more”? No, they want the best price.
1. Slightly above market value
1. Chase the market
2. Market value
1. Get some traffic
3. Below market value
1. My most savvy clients want to go slightly below fair market value. Create a frenzy.
3. We are just not ready to pull the trigger yet
1. I honor that, but since two minds are greater than one, let’s talk about that…
1. Whatever you want to do is entirely fine with me
2. In the 4th quarter, the number of homes drops because everyone says they want to list in January or springtime.
3. If there was an advantage to put it on now and create a scenario where you possibly can get a leaseback or longer closing?
4. You’re a great agent, but I’ve promised to interview 2 more agents.
1. Was that a promise to yourself or to another agent
2. What specifically are you looking for that was different?
1. If there isn’t anything different, why waste the time?
2. I can’t let you off the hook but I can let them off the hook. I’ll call them out of professional courtesy and let them know I would be happy to work with them.
Expired Overpriced Listing
Strategy and Skill of the agent matter
Front-end (Pricing and Marketing)
2. Market Positioning
Back-end (Working the deal)
1. Negotiating the offer
2. Keeping equity after the offer is accepted
“Maybe I’ll go back to the agent that I used previously and lower the price to what they told me.” A doctor misdiagnosed you to keep you happy Professionals don’t do that, amateurs do
List out the 3-5 objections you hear the most. Write out patterns and answers Read and memorize!
Here is the full video:
Unknown Speaker 0:22
Good morning. Good morning.
Kyle Handy 0:27
How's it going? Pretty good. Pretty good. Good to see you guys here. Give me one sec. I'm going to go live on Facebook stream this over to to their
Unknown Speaker 0:37
Kyle Handy 0:40
What's up, Brad? Good to see you. My man the objection master Curtis Dixon. What's up Kyle, how are you doing, man? I'm doing well. I'm doing well. Good to see you Trish. Brittany. All right, we're just getting everything set up on Facebook and we will get rocking and rolling and a good one this morning. What's the time Objection handling estate The most common objections I've got a process that I go through to handle objections and so that is what we're going to be talking about.
Unknown Speaker 1:12
I love it man good stuff
Unknown Speaker 1:14
a master mine
Unknown Speaker 1:17
I've got a new dedicated hard wired Ethernet jack getting installed this morning so if I have to jump off that's where I went but I'll awesome awesome
Kyle Handy 1:27
gonna have that lightning fast internet huh
Unknown Speaker 1:30
haha that's what I need man that dedicated stuff I got too much going on at all times like you do streaming live and doing all that stuff. I gotta get a little bit more powered up here.
Kyle Handy 1:39
I hear that man. Here is
Unknown Speaker 1:43
I don't want to steal your process but I just want to see I can't wait to hear what it is.
Kyle Handy 1:46
You want to hear it? It is there you go. Is it art? No, no, it's not love it and see here feeling
Unknown Speaker 1:57
There we go. going live. Thanks, Norma.
Unknown Speaker 2:00
glad you enjoyed it more and Brittany.
Unknown Speaker 2:05
Here we go, Hey, God,
Kyle Handy 2:08
z squared. know who that is? What's going on guys? Good morning, everybody. All right, we're let a few more people rolling just hit 9am this morning. We'll get started shortly here in about a minute or so. Got a lot to cover today. We're going to be talking all about objection handling today. So objection, objection handling in your real estate business. I've got a process that I use and that I think, you know, I've heard this, I forget where I heard it from, but I wrote it down. It's been in my notes, I go back to it. And at this point, now it's kind of embedded in my brain. But we're going to talk about a process to use, we're going to talk about even, you know, objections and how to even think about them because sometimes we get what we think is an objection, it might not even be an objection and how to handle that or how even look at that and approach it and then we're going to go into some actual specific objections the ones that we get most common as real estate agents. I've got about five of them listed out that I think we all hear anybody that's been in real estate for a long enough you've heard it and we're going to talk about you know, some ways that I go you know, and answer them and you know, and I'd love to hear from other agents about how they handle them right and if we've got time of course at the end we can you know, get into more you know, if other people are hearing common objections we can maybe start discussing that and kind of going through those as well so awesome guys. Well, we got it looks like we're live I just want to confirm we are live on Facebook. Yes, we are. Good deal. Alright, so we are streaming live on Facebook. Sylvia you're watching on Facebook. All right, you still get a shout out what's up and and then we got zoom right here guys. So all right, well, we can get started. z squared danza beta. AO There you go, dad. Good to see you. All right. Well, guys, let's get ready. rockin and rollin. So today talking all about objection handling. I'm so excited to be sharing this with you guys. I think the reason why I wanted to talk about objection handling today is it's a pretty, I would actually say that this skill and just communication in general is the reason why, you know, most real estate agents don't succeed in this business. I heard a statistic that 85% of people that joined the business that joint you know, that get into real estate, you know, we all know that it's usually not your first career. Most people don't, you know, go to college and say, I'm going to be a real estate agent. Usually you fall into this business from something else that you've been doing. And 85% of those people that get into real estate, do so without having any prior sales experience. Or maybe they did but it was a long time ago or something like that, right, but they don't have any prior sales experience. meaningful prior sales experience that 85% which If you look at it, there's an 87% failure rate in real estate, right? Like, that's just the fact we all know that about 13% of agents actually make it long term in this business.
Kyle Handy 5:11
The other ones, you know, end up falling out, or, you know, they just continue on as part time and, you know, maybe sell a house or two a year, but the ones that actually make it as their full time business, it's about 13%. So if you look at that, that correlation, you know, we talked about sales skills, and how that lines up. I mean, you know, one of the biggest things that I would say that you learn as a salesperson, is how to communicate, and how to, of course, overcome objections. And so I mean, this is an important skill to know. You know, I truly believe that if, if we as real estate agents knew what to say all the time, then of course, we would talk to more people all the time, right, which is, of course, one of the biggest things you can do in your business is constantly be out there talking, being on the phone, whatever it might be, but I think there's there's a disconnect sometimes with what knowing what to say And then people being afraid and not making that, you know, effort to communicate more often. And then the same thing too. I think people are afraid of objections. They don't know, you know what to say. And so they don't put themselves in enough situations where they would get objections, right. Like, that's maybe a confidence thing, right? like not having the confidence to go in. And, you know, just put yourself in those situations, and be willing to fail, be willing to make mistakes and be willing to learn. And so then they just don't do it. Or they don't do it to the level that they would need to do it to, you know, make a real go at this. And so, you know, one of the biggest things you can do is learn how to handle objections, learn how to communicate, because I mean, we all know if you knew every objection and how to handle it perfectly, if you knew every single right word to say, you would have no problem going out there and talking and communicating with people and really growing a really big real estate business. So I think that's pretty safe to say so. Alright, so I've got some notes here. The first thing that I want to start with is Just kind of talking about, you know, the actual, like, you know, objections and, you know, are all are all objections worth handling right? Because I'm going to give you a process, you know, it's basically six steps, but the first thing to know is that whenever you get somebody that questions, you know something that you're doing or trying to sell to them or whatever, it might not always be an actual objection You know, sometimes it can be a complaint right you know, in a complaint might be like, man you knows the Commission's are just so expensive, or like, Man that just seems like you know, such a low price or you know, you know, whatever it is right, like that doesn't necessarily mean right away, you got to go into my six step process of, you know, handling that objection, because that might be a little full blown. Some of the times all you need to do if you hear something like that, if you really don't think it's necessarily going to be a hindrance to actually closing the deal or making the sale. All you might need to do is just, you know, let them know that you heard that You, they acknowledge it, you heard them, and then reassure them that that's just the way it is. Right? Like, there's no change in it. You know, and if you just do that, you know, I'd actually a vast majority of the times when you get an objection, that's all that's necessary, right? And then you just move forward, you don't, you know, dwell on it or make it bigger than it needs to be. You just gotta acknowledge it, let them know, you hear them, and then reassure them that that's just the way that it is and then move on. Right. So that's the first thing to kind of note. You know, there also might be something that's a condition, right like that. You can't, like it might be an objection, but it's actually something that like, there's no matter what you say, is going to change it, right. Like it's a condition. So for instance, like if they just say, like, Hey, you know, we can't move right now. Right? Like, you know, something changed, right? There's a condition like we no longer can move, you know, and it's not like a wish or hope or anything like that, that you can change. It's literally like, you know, we, you know, didn't get the job transfer out. They're all you know, we're going to be staying here, whatever, like, you know, you're not going to try and overcome that. All I would say that you want to do is maybe ask more questions to get, you know, full clarification on it. And again, I mean, if then eventually, during the that clarification, something comes up that you see that, you know, it's an objection, you might build a handle, then you can go and try and, you know, talk about that, but most of the time, you know, it might just be now you need to come up with a different plan, right. So, anyway, so those are, you know, just some things to, you know, to note, first off before we go, you know, full blown kind of talking about objection handling. So, any questions there first off, Curtis, I'm going to, you know, see, are you still there
Unknown Speaker 9:37
to I'm here, man, I nailed it conditions, objections. Now, I'm with you. The other one, you know, it's not like a necessarily a designated thing, but a lot of times as well. It's just ignorance, right? It's just lack of knowledge. So so many times people just need education. It's not that they have an objection. It's just that they don't even know what the subject matter is. Yeah.
Kyle Handy 10:00
Yeah, and I will say to guys, I mean, the thing about objections and handling objections, you know, it's really like if you, you got to kind of change your mindset. I think so many people are kind of nervous about objections, and you know, and it kind of tense up or something if they get an objection, I think that there's, you know, something that comes with, of course, just experience where, you know, not only do you know how to answer objection, but it's also the confidence part of it, that like, you got to realize that with this business, the more confident you are in your abilities and in your business, the easier it is to handle a kind of any situation that gets thrown at you. And so what what I mean by that is, like, you got to realize too, that, you know, not like, you know, nothing is too you know, is that important, where you have to, like convince something you know, or change somebody's mind on everything, like they may have a good point, you know, or whatever it might be, but you have to be so confident in what you're offering is in your abilities that life You know, hey, if you know after you educate them, like what Curtis said, like, a lot of this is all, you know, Curtis, or is all education, once you've educated them and you've like, tried to explain in your best way possible that you know, that, hey, this is just the way it is, or this is how, you know, you should look at it and they still, you know, don't get it, then hey, that's okay too, right? Like, that's but I think when you get so emotionally tied that to like a particular transaction, or a particular a particular dealing, that like your objection handling abilities become compromised, almost because now it's like, you know, you got all this emotion involved and tied up in it, and it's like, they can, they can feel it, you know, that that person on the other end can kind of feel it, and, you know, and it's almost sometimes desperation that comes out or whatever it is, and you don't want any of that, right. Like, you just want to come off as like the person that hey, like, I'm the expert here, like, I'm trying to help you out. Like, we're on the same side here. You know, and, and I'm going to do my darndest to, you know, to you know, took to relay that to you. And then beyond that, you know, that's all you can do. Right? And so I think that's the biggest thing is just having that confidence, knowing that like, Hey, you know, no one thing is too big, like, you know, it's not going to break your business. It's not going to make or break your business, right? You can always live to fight another day. So like, if you get objections, like, hey, just look at that, like, it's, you know, one step closer to the sale, like once you start getting, like more excited about objections, because, I mean, really, when people start making objections, you know, it's almost like, you know, they're explained to you how to sell them, right, because like, you might have spoken for 30 minutes, and not heard a word from them, and you didn't touch on a single thing that really would have stopped them or that would have made the sale. But now when they actually get their time to kind of like talk or say something, they're going to go right to the point the things that are stopping them, you know, from deciding on that decision, that outcome that you want. And so you got to look forward to that right, and be excited that hey, now And finally, get into It, but just be prepared, right and just know kind of like what to say. So anyways, alright, so that's kind of, you know, the mindset that you want to be in, you want to kind of change your mindset, you know, be excited, not be, you know, scared or nervous when that comes up. So really, that's, that's, you know, I've got a six step process kind of written down here. And that's the first step, right? It's get into the right state of mind, right? You want to get excited, basically, you know, just, you know, they want to do business with you. Like, that's when they start giving you objections, you want to think in your mind, like, they're giving me these objections, because they want to do business with me. I just got to give them you know, the, the, you know, education, so that way they feel confident, just like I feel confident helping them, right. So that's how you have to think about it. But yeah, you're one step closer to doing business and you want to be strong in the face of objections, right? Like if you start to like, you know, grimace or anything like that, you know, or like, you know, you look down or up I'm any less confident when you're trying to answer an objection. And you've been confident the whole time before that, then you know, there's a big disconnect there. So I mean, you don't want to kind of really have to change too much in your, you know, your tonality, your personality, like just be who you are. Right? And even if you have to take a second to think about it, like sometimes people think like, Oh, I got to be sharp and, you know, ready to, you know, answer that right away. You don't, right, like, that's not something you have to do. So anyways, just stay confident, you know, be in the right state of mind. And then if you need here's a good little tidbit. This isn't part of the process. But this is always something good to realize that when you get an objection and say, maybe, you know, you either need more clarification or you just need to think about it more. ask them a question back, right, like get more clarification, even if you kind of are kind of clear, ask a, you know, a clarifying question. So that way, they're talking about it a little bit more, you're getting more understanding, and you're kind of like thinking of the best way that you want to respond to that event. Right.
Kyle Handy 15:02
Alright, so the next one that I have down here is you want to come to an agreement with them, right? Like, again, anytime you get an objection, you don't want to start this, like adversarial relationship or now it's like, well, they said something, I've gotta, you know, beat that, right? Like, I've got to overcome that like, like you want to, you know, still create that, that same connection that you're on the same page as them. Right? So like, you know, oh, I understand what you're saying, right? I'm in agreement with you, or you know, or whatever it is, you want to stay in agreement with them, right? Like, Hey, I totally get what you're saying. Like, just follow along with them. Right. But then the next thing and this is where you're going to transition. I think a lot of people make this mistake, and sometimes some, you know, subconsciously I make this mistake, too, right? We use that word but, but anytime you say but we all know that anything you've said before that it's like out the window, right? It's gone. And the cool thing is, is I'll say you know when you
Kyle Handy 16:00
You know, when you can use just another word that will kind of do the same thing, but it doesn't, in most people's mind negate what you just said. It's just using the word. And so if you can just get in your vocabulary instead of saying, but you say, and I think that it'll actually help a lot of these, these transitions. So So basically, what that would look like is like, Hey, I can appreciate that and, right, like, that's all it is, I can appreciate that and, or I hear what you're saying. And instead of, but right, like, that's all you got to do, right? Wait, make that little transition. And then what you're going to do is, so there's a few different, like, different types of ways that you can say something, the one that I like to do is is kind of relating it to something else that they might have experienced. So like this is the step four, called the pattern, right? So you've got get excited getting to the right state of mind you got agreement is number two, coming to an agreement with them, transitioning right which we're going to do is the word and, and not the word but, and then we're going to have some type of like a pattern that you you you can use to overcome or handle that objection. So the pattern I'm gonna use in this case is like, trying to say something similar, like, you know, has there ever been a time, you know, when, and then insert whatever it is, you know, that's similar to what their objection is. And it didn't work out for you, right? Well, hey, you know, this time is exactly like that. And let me explain. Right, and then you kind of, you know, explain it, educate them, you know, talk to them about how, you know, something similar happens, and, you know, let them kind of put two and two together, right, like, if they're, if their objection is like, you know, you know, I've got a friend that's willing to, you know, cut his commission, and do it a lot cheaper. You know, for me, you can say, Well, hey, you know, I totally appreciate that. And, you know, has there ever been a time when you know, you've picked a service, you know, that was the cheapest, you know, and how did that work out for you? You're right like, and just That and ask the question or, you know, and in did that work out or it didn't work or whatever, right? Like you just asked them about their experience with that most of the time, right? Like, if they're honest, or most of the time, people just want to feel like they're playing along with you really, they don't want to, I mean, unless you if some people, they will be adversarial a little bit. But if they're, you know, a, you know, an average normal person, they're going to try and like, not be too hard, right? So they can be like, yeah, you know, they start to like, maybe being a little bit of agreement with you. And that's when you say, like, you know, all right, well, you know, this time is exactly like that. Let me explain, right, and then you can go into the details, like, you know, about hiring, you know, the least expensive person and then you know, that doesn't work out usually, you know, you're unhappy with some level of the service, you might end up costing you more money in the long run, all sorts of ways that you can kind of go into that. And we'll get into the details about these specifically when we get into the actual specific examples that we're getting into. I just want to give you kind of the framework so you guys know Right off the bat, but and then the fifth one is agreement, right? So like, now you've went through that pattern, you kind of, you know, explain it to them, you've brought up a similar scenario or made like a story or something like that. And then you come back around you say, so you know what? So are we on the same page? Right? Like just, you know, ask them at that point, like, Are we on the same page? That's not the clothes, right? You're just this is just an agreement? Are we on the same page? So then you'd say like, Can you see how you know more moving forwards the right move, you know, anything like that would be appropriate at this time, when you just you know, coming back around and agreeing with them again? And then you'd say, Okay, now, you know, if you feel like that was the last objection. Or even if you don't, you know, you get at that point, you know, close. And then if it wasn't the last objection, they'll give you another objection, right, that you might have to handle. And then you'd say, Okay, well, let's move forward. Here's the listing agreement. Here's the buyers representation agreement. Here's how we're going to do the contract, right? Like that's the clothes, right? You just go into kind of that a some clothes in my ear. That's the one that I use most often just if something close like I handled your objection, let's go right like that's what it is for me. So okay, so that was it. That's the process that I use before we get into the specifics. Curtis What did you take from that anything I missed? I don't know if you know he's getting his internet work done so you might not he might still be there. Alright, well any questions from anybody else? What else did I miss anything? Are you guys following along?
Kyle Handy 20:31
Tim what's your your thing it said objections then go to mindset of the client advice. Yeah, my experience objection show there is still some interest and just want more information. Exactly. Love it. What else we got guys, feel free to chime in. Let's see if we make checks anything on Facebook here. Jackson's jet Yep, there you go. Sylvia says Grant Cardone says most of the time and objection is just a complaint. That's right. She She put a resource to I haven't heard this one. The closer's Survival Guide by Grant Cardone not read that one personally Sylvia but for any of you guys watching if you all want to go get more of this that seems like I'm Sylvia knows her stuff so I'm sure that's a good resource for you guys.
Unknown Speaker 21:17
Kyle Handy 21:19
man does everybody just want to get to the get straight to the objections? I guess that's, they're like ready to go
Unknown Speaker 21:28
Alright guys, we'll
Unknown Speaker 21:29
go Let's go. Let's go straight to the objections.
Kyle Handy 21:32
stuff. I love it. I love it. What's up Tim? Good to see you, man. Good to see you, man. There we go. Oh, it's a book. Okay, thanks Heather. Yeah, you can get it on Audible she says perfect. Look at that. All right, guys. Cool. Well, let's see here. Alright, so we've got so we kind of talked about this when we didn't like cover it cover it but this was we'll start with this one because this one I used earlier and just as you know, I've got a friend that can do the same thing for a lower commission, right, like we've all heard that it might be a friend might be just another agent. But you know, basically, the objection is centered around cutting your commission. Like, that's pretty much what it is right? Like, they don't want to pay 3% they want to do 2% they want to do, you know, whatever it is 1% flat fee, you know, comparing it to a flat fee brokerage. Right. And so So anyways, with with regards to that, it's, we're going to use the same framework, right, like, you know, the same thing I said, Hey, I can appreciate that, you know, and, like, in this case, like, if they're saying that, like, you know, about the lower commission, and has there ever been a time that, you know, you've, you know, selected the, you know, pick the, the service that was the cheapest for you? And, you know, how did that work out for you? And just let them answer I most the time, they're gonna say, Well, you know, I mean, yeah, I guess like, they kind of are gonna, in their mind start to, like, kind of start to agree with you like, yeah, you know, it wasn't, and then you're gonna say, Well, hey, this times exactly like that. Can I explain say, Sure. So, you know, here's the thing you reached out to me because, you know, obviously I've got marketing out there, you know, heard about me through whatever it is right, like they pulled you on Facebook or Zillow. You know, you saw my reviews you saw whatever it is, like you want to, you know, kind of rely on your merits, right? Like, or, you know, you knew me because I'm your friend, and, you know, you trusted me for a long time, whatever it is like that they came to you because of right? Or if you approach them, right, and you kind of reached out to them, hopefully, at this point, you know, in this process where you're starting to get objections, you've at least already explained a little bit about, you know, your benefits, right, what you as an agent provide, right? And you're going to say, look, you know, basically what I've what I do as an agent, you know, my track record, I've been an agent for five years, you know, I've listed and sold, you know, over 500 properties here in the San Antonio market. You know, my track record does speak for itself. There's also sorts of agents out there that are willing to cut their commission to get your business. Like, there's no doubt about that. But what I'll say about that is, you know, I just showed you that I do X, Y, and Z, you know, to get the most amount of money for your, for your property. So basically by you asking me to cut my commission, or potentially, if you go with another agent, what you're basically saying is that you don't want me to do all of these things that I'm going to do to market your home because these all do, you know, cost money, they, you know, take time, whatever it might be. And so realistically, at that point, what you're saying is you just like to, you know, roll the dice and see if we don't do all the same stuff that I've done for, you know, the 500 homes before, if we're going to get the right amount of buyers or the same amount of buyers that I've done in the past. And, you know, to be honest with you, with my experience, I don't feel that that's the right thing to get you the most amount of money in the shortest shortest amount of time. You know, would you agree with that and let them answer Right, like so you just kick it back to them.
Kyle Handy 25:03
But yeah, I mean, so you basically it's kind of that takeaway, right? Like if they want to take away conditioning, say, Hey, I can do that. But you know, at the same point, like you're going to miss out. And you know, say, Look, they're going to say, if you save 1%, I think what we can agree is that if I can get more buyers into your home, which I've been proven able to do that, right, I'm sure. When I go into a listing appointment, I'm showing my average list price to sales price ratio, right? So if this does become an objection, I can go back to that I can say, look, on average, I sell, you know, for 99% of the list price to sell price. You know, the average in San Antonio sells for 97%. So, you know, I can, you know, show you right there, facts numbers, right, they don't lie, that my process will get you more money on average than the average realtor out there. And, and I was like, so you know, 1% that's not going to really in the scheme of things matter much. And so you know, you just go back and you can use that right and then you want to just tie it Back in and say like, so do you, you know, what do you think? Do you agree with that? Right? Come back to that agreement? Are we on the same page? Okay. And then if they say, you know, yeah, I guess you know, that makes sense. Cool. Well, let's go, you know, here's, here's how we do the listing agreement and just go right natural into the next thing. What a lot of times people do is they'll, like, handle the objection. And then they like dwell on it, right? Like, they go back, and then they handle it again. And then they like, you know, they almost can't like get off of the objection. And I think that it's so important that like, if you if you make it a bigger deal than it is, then it's like, they think you almost have something to hide. And it's like, if you handle it, handle it in, you know, 30 seconds to a minute, and then move on right and less when you try to close again, they bring something else up. So I think that's kind of how you need to treat that. So that's the first one. Alright, so what are your thoughts about that, as far as talking about lowering commission? Does anybody handle it a different way? Well, I mean, you can probably handle it many different ways. That's just kind of what I have. I handle it right, I kind of take that objection. And I use kind of the takeaway, based on my experience, my process, the things that I do, that I've already shown to them, or if I haven't shown them, unfortunately, if you get this objection, before you've shown them some of the things that you do differently, then, you know, you almost have to kind of go into it a little bit longer. And explain to them, you know, what you do do to, you know, to help them get more money, or you do need to go into your track record, and show them on numbers. And you should know your numbers, right? You know, that's going to help them or have your story made up. And I'll tell you guys, at the end of this call, I've actually got like an assignment for you guys to do today. One of the things is to list out the three to five most objections that you hear the most, and then write out your patterns and answers for that. Right, because the thing is, like, what you'll start to realize is if you get the same objections over and over and over, and you know, it might be more strategic to Not only just know how to handle that objections, but actually how to like, position yourself in the listing appointment, or in that buyers appointment to where you're starting to, like touch on those things earlier. So you don't even necessarily get those objections or when you do, it's like, Okay, well, now I tie back into what I've already said, right? Like, sometimes you have to set yourself up to handle that objection down the road. So that would be another little tip that I'll make for you guys. And if you can, again, just think about it, like you just, I mean, all this stuff just takes thinking about it. You know, it's nothing that's like rocket science. It's just, you know, thinking about this stuff more strategically ahead of time. That way when it actually comes to you, you're not like, you know, trying to do it on your feet. Okay.
Unknown Speaker 28:43
Hey, girl, can I ask you a question? Yeah. Anybody? Um, what if, what if you don't have like the Santa listing side? You know, that's like, real common objection is to, you know, can you know, cut your commission to one and a half percent, like, using your credibility? You know, I'll be where you are one day, but Let's just say on the I don't have the credibility that you do, like what are some, you know, tips that you'd recommend, you know, to go to to handle those objections to one and a half percent? Or anybody on this call, I guess, as well.
Kyle Handy 29:12
Yeah. Well, I would ask Tim, I mean, in that case, I think everybody on this call it whether you're new or not, needs to have three things that make you unique, right? Like, you need to start there, like, you know, and because, again, you can be new in the business, but like, what about Tim power makes you unique? Right, like, you know, just as a as your personality traits or characteristics of what would you say about yourself, Tim, that you do as a person even just doesn't have to be real estate, right? But like, what are some of your characteristics that you feel are strong about yourself?
Unknown Speaker 29:45
persistence, and good service, I mean, I'm going to give the best service I'm not going to give up on anything, you know, just the customer service pieces like I'm, you know, taking in prior business to this business has really helped me so Like this, you know, there
Kyle Handy 30:03
and, and maybe think also to have like, what's like one of your major successes that you've had in life doesn't have to be real estate, right? Like, what's something that you've done that you were successful at in your life? Right?
Unknown Speaker 30:15
Unknown Speaker 30:17
Um, well, I guess, goodness,
Unknown Speaker 30:21
I'm putting you on the spot there
Unknown Speaker 30:25
are usually a little quicker than this, but I would just say like, you know, taking in like the sales side of it and, you know, connections with people connections with agents, you know, like in the listing side of it.
Kyle Handy 30:36
And what I was what I was getting to Tim, because I know your background, right, I know that you were, you know, big, big timer over there at Discount Tire, right, like, and you were, you know, like, you owned as a branch or a store, right?
Unknown Speaker 30:49
Yeah, it was, uh, yeah, I was in charge of, you know, 3040 employees,
Kyle Handy 30:53
right. Hiring the firing the you know, the teaching the train and all that good stuff in Did you did you ever get any award or anything like that from being in that? Absolutely. Yeah. Anything like that?
Unknown Speaker 31:07
We do we hit the $750,000 month in a month sales awards. So that's pretty big.
Kyle Handy 31:13
All right. Well, the reason why I'm going down this path is again, I think that everybody's got to think a little bit more right about in their life, things that they've done doesn't even have to be real estate. If you're a new agent, you got to get creative, right? And so like what you would do, because this has got to come off, like genuine, right? There's not something I'm going to tell you guys on this call that I think is the right thing for everybody to say that's a new agent. I think what you need to say, as a new agent has to be genuine to you. Right? If you're really going to truly handle this objection, it's got to be, you know, genuine to you. And it's got to be using your life. Right. So like, Hey, you know, like, you know, totally get what you're saying, you know, I you know, even though I'm new in real estate, one of the things that I think that you know, the people that I've always served have said about me is that you know, I you know, don't ever quit, I never give up Always ensure that you know, your needs are met to the highest level. In fact, you know, when I was, you know, the the store manager of Discount Tire I was responsible for, you know, 35 employees, and, you know, we all and we, you know, accomplished, you know, a goal that less than 1% of the stores ever accomplished, you know, across the nation or whatever, right, like for customer satisfaction or for you know, or further for our sales or whatever it was right, like, and, you know, I was played a, you know, key role into that. And so, like, you would use your background and say that, right, and like, use your experience in that and say, and I'm just, you know, taking what I've learned, and now I'm applying it into real estate, which I've got great mentors, I've got a great team helping me so you know, all of the things that you are talking about that you're curious or you know, that you're questioning, is, you know, things that I'm going to make sure you know, to take care of 100% for you. You know, as best as I know how so like that's, I think, you know, the record, you got it or the You have to take is like, you know, think about this right now when we get off this call and if people on this call don't have what makes you unique, I think that's also a whole nother like sales, you know, call thing that we need to do, right? Like is like talk about like, what are the different things that make you unique? Because if nothing makes you unique, it's hard to answer objections, it's hard to sell anything, right? Like, you've got to have what makes you unique. And then when you get an objection, you got to go back to those things that make you unique. And you know, kind of like, like, rest on that right like and go back to it and say like, Well, you know, you could use the same objection right that you know, that I that I just talked about, right? Like when you even if you're new, right, like there's nothing that precludes you from like having a written out marketing plan, like what you're going to bring to the table to market that person's houses, professional photos, I'm going to do you know, Facebook ads, I'm going to do an open house. I'm going to do the I'm going to put a sign in the yard that has, you know, a text drive are on it. Like, think of every little piece of things that you do to the business, I'm going to post your house and a private group on Facebook that has 3000 agents, you know, that just talked about kind of like, you know, listings and things like that here in San Antonio, right? Like, whatever it might be, that makes you unique. And that's where I think it's an important practice to do that way. Again, you can kind of go back to that list and say, like, Hey, you know, I can, you know, I can take away things, but at the same point, like, we're going to have to, you know, take away, you know, all this stuff that we're doing on the marketing plan. And I'll tell you, from my experience, in whether that's selling one home, no homes or like, you know, 100 homes, you know, just say from my experience, right, like, because again, you can have experience talking to agents, you had to get licensed, right, like you had to go out and get your real estate license. That's experience. Most people don't know that right? Like the average salesperson or the average seller. You know, you are licensed right? and rely on that if you've got to use that like Hey, you know, I, you know, got my license like, that's a big thing, right? Like so whatever it is you just got to be creative, be unique about it, Be true to yourself and rely on that. So that would be the way that I would kind of answer that Tim.
Unknown Speaker 35:12
That was very helpful, guys. Awesome. Thank you, dude. Cool, cool.
Kyle Handy 35:15
Alright, so next one, guys. So in this would be like if they have a specific number that they wanted to sell their home for. Right like so like maybe they say to you, Tim, you don't respond. I'm just gonna, I'm gonna use your name though. And this I'm gonna say like, Well, you know, Tim, I mean, all that sounds really great and all but man, we really need to sell this for 300,000 or we really need to net $40,000 on this house, right? Like you're going to hear that pretty often, right? Like a pricing objection.
Kyle Handy 35:49
And this is where, you know, hopefully at this point to you've went through the comps with them, right? And you've kind of you know, showed them hey, like, here's what has sold in the last six months. Here's what happens. You know, cancelled in the last six months, here's what is, you know, for sale currently, right? And you just say to them, like, I'll kind of say like, I'd love to get you $100,000 more for your home. But you know, unfortunately, I'm not buying it right, somebody out there in the market is going to buy it. And my job is to just market and exposure home to the highest number of quality buyers out there. And agents, right so that way we get the most buzz around your house and and highest offer right the highest price. But here's here's the thing I would ask you, Tim, like, when you're going to go buy your house, right? You're going to look at all the sold prices as well. And are you going to tell the person that you're buying their house from that, hey, you know what, I'm going to give you $20,000 more than all the other houses that sold 10s probably gonna say well, no, like, I want to get you know the best price right? Like, you're not just gonna, you know, you're gonna willingly give people more money than what something is worth right. And so that's what you have to say to them like Hey, you know, like, like, you know, people are gonna do the same thing, right? You every buyer out there's the thinking the same way like they want to get the best price that they possibly can. And based on the numbers that I've shown you, Tim, you know it, you know it what in here, you do you see that would allow us to sell it for that price, right? And I think if you put it back on them, right to kind of answer that question like and you've shown them all that they don't have a leg to stand on, they really don't I mean, you have to use the numbers when it comes to pricing. And you have to say like, Look, this is just you know, I understand that that's what you want to get. But unfortunately, guys, you know, nobody is going to just willingly pay more for what you're more for your house and what it's worth. And there's no numbers in here that show me that anyone is going to be willing to, you know, pay for that much no matter how nice your home is no matter you know, any of this kind of stuff. We've factored all of that in and we're still getting to this price, right? And that's where you want to kind of like push back on your price. Ask them, you know, and say like, you know, what you've seen what makes you know you confident that we would be able to sell your house today? And then you because you want to get what's in their mind. Like you want to hear what they're thinking, like, make them say like, Well, you know, I see this house here, it's sold for this much. And you know, and I think my house is worth $20,000 more. Okay, perfect. When you get that response, like you don't want to be, again, like adversarial, you want to again, this is just something that you're educating you're trying to like work through this with the person and explain to them and he said, Well, yeah, okay, look, I get that, you know, let's really dive into this home. And let's look, let's see why we think that we could get 20,000 more, yes, you might have a covered patio, but you know, this one had a three car garage, right? Like in you're not accounting for that, or, you know, and then you got to kind of like go back and forth and really get to where it was that you understood when you went there originally kind of thinking what that house would be worth. So that's kind of how you handle that objection as far as like a specific number that they want to sell the house for. It's again, coming back to education, it's kind of rolling through the numbers, and just kind of talk to them again about, you know, market value, what it means I think sometimes you have to go back into the education about how to potentially get them the best offer and say, Look, and here's the thing, you know, we can price your house three ways. That's all right, we can price it above market value, we can price it at market value, and we can price it below market value. I'll be honest, you know, I've had the best experience quite honestly, pricing something below market value. And you know, in this market where it's a seller's market, when you price something below market value, typically what happens is you create a frenzy, and you get a ton of people interested and you end up creating a bidding what you say like you almost like ask them like, you know, I'm going to create a bidding and then you say like, you know, what, is it that you create a bidding and there's a bidding war, right, because everybody's heard a bidding war. And and basically, yeah, you know, a bidding war and when you get a bidding, war years Gonna get, you know, higher offers, you're going to find the most qualified buyers for it. Because what ends up happening is you might get all sorts of offers, like, you know, let's compare it to an auction, right? Like when they start an auction, if you go on eBay, did they started above the price and come down? Or do they start at below the price and go up, it's because they know and that's how they find it. Because all the earlier people that bid on it early, they all drop off, and then you end up lining up with two or three people that are most qualified that most want the house and that are going to be willing to pay the most amount of money for it. If we price it too high, then we're going to be constantly chasing the market, which in the long term ends up costing you more money and taking more time, right. And so that would be the the idea that we don't want to take the two to two strategies that I would say would be the only strategies we should be looking at is the one where we either price it at market value which if that's all that you're comfortable with, hey, we can do that or pricing it below market value. The great thing is mister mister seller is even if we price it below market value, you don't have to accept any offers, right? Like, we can price it below market value. And even if somebody writes it for what we're asking, you don't have to accept that offer. Okay, we're just again, putting in, you know, what we think is fair, and then we're going to find out pretty quickly, based upon all of the facts at that point, you know, even if we priced it below market value, you know, we're going to see what transpires over the next week or two, and then we can make an informed decision with a lot of data points or a lot of, you know, people that might be interested, versus having to make a decision when we price it above the market and having no no data because we don't know because nobody was even really looking at it to begin with, because it was too high priced. So you know, that's kind of the approach you can take, you know, and then again, get the acknowledgement, get the agreement at the end, tie that in, are we on the same page, right? Can you see how this is the right decision moving forward? Like that's where you want to tie that back in? All right. We Get on that one. Any questions?
Kyle Handy 42:04
All right, looks good. You know what I did? I had one this weekend. Norma, would you do? I want to hear it.
Unknown Speaker 42:11
Hi, Kyle. Yes. Um, I had an old, I guess no client for maybe last year. He's like an investor. He has houses and stuff. So he had had me go to one of his. And he kind of want to compare our realtors to the eyeballs at that four and a half percent. So what I did, I was like, Okay, let's see what I can do for you. What? I kind of missed it. What did he know about it? He didn't know anything. All he knew is I want to professional and I want you to send me I want one. I said okay. So I gave him an option as well. I tell him, okay, I did what you did, through strategy strategies. Above medium and low. I took a mobile thing I said, Well, why do you think I should be getting paid last he goes well, I want you to make the one and a half percent and I want to put it out there for three acid Wait a minute, I said I and I had that client relationship with him so I can talk to him that way. So I started playing around with him. I said, Well, you know what, you want me to work this much, but you just want to give me one half percent and he says, Nora, I'm going to get you to do all the other properties. I said, Okay, you gotta do, let's do this. I'll work with you all do this mess and he goes, Okay. So this past weekend, that I said, Okay, so for two days, I send them information about our buyers. I got a friend of mine, I was talking to her about it. She says, No, I'm gonna send you an offer that was I bought hers where they had to pay up to him. He was only gonna pay the one and a half percent. One and a half percent of them are the four and a half percent. Well, after I educate him on the on the buyers and how this much is just up front, but yet, now you're going to have to pay 17,000 is not just going to be the four and a half percent you're painting. After he saw the whole picture. Then he says, okay, he wanted me to work harder. I said, you know what I'm willing to also so I don't care So I went out there and I said, Okay, well, you know what? We'll do it at the 5%. He goes, I go, but I said, I said, look for him. I told him, You know what, we'll do it at this much. But he goes, I got him to go all the way up to 5%. And he goes, I'll do it for this much for 60 days. Show me what you can do in 60 days. I said, Fine. I said, and I looked at the market and the market houses were selling like within under 30 days, I said, I can do it. It's another 30 days. So I did. And then after I, he goes, I go came to 30 days, he goes, and he goes after 60 days, if you don't sell it will drop down to 4%. So that's four and a half percent of the deal. Let's do it. So. So I did and then and then as he goes, well then after that we'll do for 30 more days. So I said to him a little middle speculations I know after 60 days, it's five. After that, we went down to Florida. half percent. So that means I gotta hustle. I gotta do this just to get it so for that much, I love it. I love it. And then check this out. So long story short, I got a call the next morning Can we see the house? Yes What time and because I jumped on it so fast he says can you meet me in 30 minutes I said I'm there in 30 so we're not there minimum 30 I just got an email I text this morning he says Norma we want the house. So I said good. So I haven't told the buyer Yeah, I mean the seller yet I'm still doing contract with him. Because you want to be seen everything I'm gonna go out there today, but I might just have to cancel I love it. Oh my god. This morning cuz I gotta do both sides now.
Kyle Handy 45:46
I love it. That's awesome. Congratulations.
Unknown Speaker 45:50
Tell me Well, my house or my daughter. The seller told me that I said good guy. Send him some houses tonight. We're going to go ahead and live in this morning but they had multiple offers. I'm here I said you know what that multiple offers on that house? So for a reason it was listed last month 179 came down to 149 there is something something fishy going there let me check into it. I didn't know what foundation damage and roof damage now we don't want that it's just problems
Unknown Speaker 46:19
Kyle Handy 46:20
well Norma thanks for sharing that's awesome that's actually a great thing to point out to you guys as far as like you know using some leverage like for you know, a potential objection handling you know, if you think of it as like, you know, the days on market I think is an important one especially Yeah, cuz the I buyer craze is kind of crazy right now. And you know, a lot of people that is almost another objection that we could have we could talk about and in fact, maybe we will just talk about it right now is I think, you know, some people they don't like the uncertainty of, you know, having to list their house for six months or, or whatever right now, but the thing is, we all know especially for the price that the buyers are willing to paid for their home when it comes down to all the fees and everything that you know gets netted out. If we were to list the house for that price, chances are we're going to sell the darn thing too, right? Like we all know that like I talked to somebody the other day, and they were saying that I think and I buyer, you know, it was open door someone bought the house for like two, it was to 67 minus fees, that was their offer to 67 minus fees. And, you know, basically so the seller probably netted less than in the 250s or so. And they listed that house open door did I think it was like five weeks later of course the seller was watching it right like they wanted to see what happened open door listed at like five weeks later. They sold it for 295 $295,000 and so it's like they you know, and they just were like it was like a sick to this, you know, stomach feeling that they had when they had seen how much money they left on the table just because they wanted the convenience. And so like you know, use stories when you're kind of overcoming objections like We're talking about desires, and you want to say like, Hey, you know, here's the thing, like, if you're worried that this is going to drag on for six months, let's do this, I'll list it for 30 days do a 30 day listing agreement with me, we know as listing agents that, hey, if we price that house, right, and we get it somewhat staged and clean, where it's looking decent, right? And maybe that means you've got to pay, you know, a make ready crew 500 bucks to go in there. It's worth it as the listening room if it's the right listing, right, if it's a 233 hundred thousand dollar listing or whatever, and you're going to make six 9000 bucks on it. Go in there and invest, right, it's almost I mean, it is like a gamble, right? But it's a worthwhile gamble. If you know what you're doing and say, Hey, guys, here's, here's what we're going to do. I'm going to I'm going to pay to have somebody come in there and do it make ready on your house, they're gonna clean it, they're going to touch up, you know, do all that kind of stuff. All I need you to do is maybe get a few extra things out of your house, right? Like maybe they got too much stuff in there. That's all that I need you to do. And we're going to list it for 30 days and if I can't get you more than what you know this I buyers saying they're gonna You then you know, go ahead and go take that offer and your risk and maybe 500 bucks or whatever it might be plus, you're if you're going to get you know, pictures, which I highly recommend you get professional pictures, or you might be risking six $700. But you know that if you do that, nine times out of 10, you're probably going to sell for more than what that that I buyer was going to give them when they net out all of the fees. And it's important to that the sellers, you educate them and let them know, hey, they're going to give you an offer price, but just realize that's not the net number. Make sure you know what the fees are in addition to that, okay, because a lot of times they try and say like, oh, we're cutting out the realtors, you know 6% Yeah, they're cutting out our 6% but they're also charging their own you know, percentage or whatever it is right for their, you know, their fees. So, anyways, cool. Alright, so let's move on to the next one here. A normal, let's save it to the end because I got to get through some more of these. Okay. Alright, so let's go to we're not ready to pull the trigger yet, right? So that's another Another objection that you hear sometimes, right and this could be on the listing side, it could be on the buyer side, like maybe the buyers are getting cold feet, and maybe they just don't want to buy anymore. Like, you know, they need a house, but maybe they don't need need it right? Like they, you know, are in a situation where they can, you know, go month to month, they are, you know, renew their lease, and they thought about buying a house, but now they don't want to, or you're with the listing, you know, somebody wants to list their house, but maybe they decide all of a sudden that they don't want to list their house during the holidays, right? Like, we're going to be coming up to the holidays, you know, eventually, which is kind of crazy. We're already in August. And so you know, pretty soon to start getting, you know, Thanksgiving and Christmas. And you're gonna hear people that say like, Well, you know, I'd like to wait until January, right? So those are like, so this is just a waiting objection. So here's how I start that out. Right? I said, Oh, hey, I totally get that, you know, on the same page as you, whatever, you know, let me start by saying whatever you want to do is totally fine by me. I'm your real estate agent. I'm here to help you. You know, whether it's Today or you know, a few months from now or a year from now, right, like, that's what I want you to know. But let me just tell you a couple facts. Right. And this is where you may be kind of
Kyle Handy 51:10
you don't say, but See, I told you guys, you say and let me just tell you a couple of facts, right. Like there's a quick little change in your voice there. And let me just tell you a couple facts. In the fourth quarter, right? The amount of homes that are listed for sale dropped drastically, a lot of the sellers are thinking the exact same thing as you that they don't want to have their house listed. And what ends up happening on January and even into the springtime, is the amount of homes that are for sale, just drastically rise and say, you know, so but now the buyer demand is going to stay there. There's people that get moved all the time. You know, yes, it might not be quite as high as the summer but there's still quite a bit of demand in you know, the fall months in the winter months, and so the demand only dropped slightly, but the amount of homes that are on the market drops drastically and so You know, in that scenario, you know, don't you think that your home would stand out to more people than when you list it with a lot of other homes that are coming on at the same exact time? They're gonna say, yeah, you know, probably so right. Like, let them acknowledge, agree, follow along with you. And then you say, and you know, and here's the thing is, I totally get it that, you know, you might not want to be inconvenienced and moving or whatever, through the holiday season. But again, you don't have to accept any offer. That doesn't make sense for you. And so what we could do, because, again, there's going to be maybe more demand for your house, when there's less homes on there, we might have a little bit more ability to structure the deal in a way that makes sense for you. And what I mean by that is, you know, maybe we can get a lease back to where, you know, we'll sell the house during the season, but then they'll lease the house back to you for you know, 30 days, 40 days to at least bypass you know, Christmas so you can stay in your house until January 3, or whatever, right like we're going to We can try and do something more like that, that will work for your schedule. Right? And so like, and then you know, would that how does that sound for you? Sounds great. Okay, cool. And then again, if it doesn't work out, you know, then you don't have to sell, you don't have to take the offer, right. And so you can kind of take that approach with people, and just see if that kind of creates a little bit of just, you know, not trust, but just, you know, kind of puts their guard a little bit less less there to know that they're in charge. They're in power, to not have to take any offer and be inconvenience. But we all know, that once we get to that point where we get an offer, and, you know, Money Talks, right? Like, I mean, in what was inconvenient, you know, a month or so ago, just because it would be nice to lyst in January, when they get that physical offer and they're like, Hey, this is, you know, the next step, this puts us to that next chapter. They're willing probably, at that point a little bit more willing to, to do whatever it is because it's real versus when you're just talking about something in the beginning and so that objection you kind of handle it by just kind of like delaying it right? Like, like, you're still Mike might have to have that conversation because maybe the buyers not willing to do at least back, you know, when it's all said and done like maybe they need to be in by Christmas time, right? But at least now you got an offer in the hand, you can go to the seller and say like, hey, again, you still don't have to take this. But this is a great offer, this does put you one step closer to whatever it is that desired outcome you want is, you know, now that may spur them to just do it right versus, you know, in the beginning when they didn't want to because they thought there was a lot of other options. So I think you have a little bit better chance at that point. So all right, number four is we're running short on time we got eight minutes. You're going to hear this too. When you go to like a listing agreement or maybe even a buyer consultation. Sometimes I don't think so much on the buyer consultations, but you're going to hear like, Hey, you know, Kyle, you're a great agent. But you know what I've promised to interview two more agents. Right? I've promised I've got to, you know, talk to One more agent, you know, before that, you know, or before we make a decision, like, you're probably going to hear that one, right?
Kyle Handy 55:08
The way that I kind of handle that, right is, you know, I asked him first I said, well, was that a promise to yourself? Or was that a promise to the other person right to the other agent? And, you know, depending on what they say, you're going to kind of tailor your response, right? You want to find out, you know, like, Are there any and it's a promise, right, but, you know, I agreed to talk or whatever, like, just say, like, did you know, was that an agreement you made with yourself? Or was that an agreement you made with the other person? And then and then you just, you know, kind of go into and ask them well, you know, was there anything specifically that you're looking for? That would be different that you're looking for in that other agent? Right, like basic trying to find out like, you know, Hey, Mr. Miss seller, I totally understand that, you know, but let me ask you, just so I know, you know, is there anything different that you're looking for in that agent that you know, I didn't cover I didn't do Right, like trying to find out, like, Where are the holes? Like, what else are they looking for? And it's like, well, no, not really, then I think that's the perfect, you know, point you want to get to. And most of the time, I would say they probably say that, right? Like, that's what I usually hear most often when I kind of come back with that. And, and then I say, Well, you know, so if that's the case, you know, like, why do you want to, you know, waste more time, you know, for yourself, and potentially for that other agent, if you've already found the agent that you know, is going to do everything that you're looking for. Let them answer that question. Right. Like, you got it. Sometimes with these objection handling, silence is the key, right? You just be quiet, you let them answer it, let them kind of like roll through it in their mind and say, you know, and sometimes, like, if they even come back and they say something, right. I'll say, Well,
Unknown Speaker 56:47
you know, I, you know,
Kyle Handy 56:49
I can't, I can't let you off the hook, but I can let them off the hook. You know, would it be easier for you if you know, we ended up agreeing that hey, we're going to work together today. For me to you know, call You know, this agent, right? Like, you know, whoever it is that you were supposed to meet with, and just let them know, at a professional courtesy that, you know, we've decided to work together. And, you know, give them maybe first crack to bring a buyer by, or something like that. So that way Hey, you're, you know, still, you know, giving them you know, a way out. And most of the time, what's funny is when you then challenge almost them and like, it sounds like you're being helpful, right? Like, you're kind of getting them to where they don't have to make that call. But most of the time, the person the seller, they almost don't want to appear or seem weak, right? So they'll say, Oh, well, you know what, no, no, like, I don't mind calling the person and letting them know, right? And then boom, okay, well, alright, perfect. So now you're already at that spot where they're ready to use you. And, you know, they're, they've made it in there the decision in their mind that they're going to handle everything else with the other agent, right? Like, that's kind of a good, like, trick that you can almost use to just like, make it seem like and maybe they will say, yeah, you know, please, you know, get me off the hook or whatever with them. If that's the case, hey, you just make the call like, hey, Susie, you know, I know that you had an appointment with this a, you know, with the seller. You know, we had a great conversation today. And they, you know, ultimately just decided they wanted to use me as their agent at a professional curse, I just want to give you that heads up, because I know you're supposed to meet with them later this week. But you know, I will be, you know, in contact with you if you know, you know, once we get the property listed, and if there's any way we can work together, you know, as you on the buyer side or whatever, be happy to do that with you. Right. So that way, you're just being professional, you as an agent don't even have to do that. And so I mean, yet maybe that listing agents, or that potential listing agent would have been upset, but there's nothing that you could have done differently, right, like you've got the listing agreement, and now you're trying to make nice with it. So I think that's kind of a good way that you can kind of handle that scenario. All right. Um, the last one, I don't know if anybody deals with expired listings. I've done a few expired listings in my time. This is one that I would say, you know, comes up a lot when you're doing expired listings, and then we'll wrap up the call But a lot of times, if you know, we, I would say the vast majority, over 90% of the time when a listing expires, it's usually because the price was not set properly. There's all things that you know, also factor in, like, of course, you know, the condition of the property, the marketing of the home, like if the photos weren't nice or something like that. But the majority of the time, it's usually because the property is not listed at the right price. And even if like the home wasn't in the best condition, that's still kind of a pricing thing, right? Like, because you should have priced that home for the condition that it's in. And so, anyways, most of the time, it's pricing and so when you go and talk to an expired listing, seller, you know, most of the time and you can kind of get them to agree that hey, it was pricing, you're going to get the objection sometimes that they're going to say, Well, okay, hey, you know, I totally get it, you know, the pricing was was wrong, but you know, what the agent that we use beforehand, you know, because we've already got a relationship with them. We already you know, know who they are. We're going to give it back to that agent. We're just gonna price it right this time, right like that. Sometimes you'll hear that it's kind of crazy, right? Like, I'm sure people probably watching this, like, why would anybody do that? And it's exactly that, like, that's kind of the, the, almost the script that I use with people, I say, well here, let me just, you know, ask you this, you know, I say like, if you, you know, were to go to a doctor and get, you know, diagnosed and they diagnosed you wrong. And now you're coming to a different doctor who tells you exactly what that you know, the right diagnosis is, would you really go back to the to the diet, the doctor that diagnosed you wrong in the first place? And you know, most people say, Well, no, he's all this is, you know, it's again, using the same situation. Well, this is the same, you know, kind of situation here, you know, basically not saying anything bad about that agent, but whatever the situation was that caused them to price the home incorrectly in the first place. Whether they just agreed to whatever price you were telling them you wanted, and that's why they priced it out that or if they just didn't know, you know, it probably doesn't benefit you to go back to that same agent and you know, go And now at this this point, you know, use their expertise or guidance, like I just that doesn't make a whole lot of sense. You know, because here's the thing if they just use the price that you know,
Kyle Handy 1:01:11
the thing about that is, what do you think happens when they finally do get an offer? Right? Like, you know, how, how willing are they going to be to make sure that you know, you get the most amount of money from that offer it because you got to realize pricing it and marketing the property is only one half of the equation. It's literally the you know, that's that's step one, the whole other 50% of that is the back end, right like we call the end is where I say I call it pricing and marketing kind of the front end, and then I call working the deal, the back end, that's once you get an offer, that's once you get you know, inspections and have to you know, work through the inspections, and you know, what items are going to fix and not fix when you get appraisals and you have to make sure that you know you're going out there to you know, meet the appraiser to make sure that your house appraises for the full value like you know your talking with them. Like, all these things all go on, even after you get the deal. And so like, really what you're just talking about is just one part of it. And I don't know that, you know, if they didn't, you know, start with that part right in the first place, you know, how confident are you that they're going to get all the way right throughout the whole process? And so then you just again, you know, so do you agree? Like, can you see how that would be important to you? And you wrap that up? Cool. Well, that's it. That's what I got guys. For these five objections. It is 10 o'clock. Let me see here. Yeah. So your your action items that you can take away from this, go and list the three to five objections that you hear the most. Right, right out patterns and answers to those objections. And then read and memorize those over and over and over right like bring them to a call a future call or message me if you've got an objection you just don't even know how to answer it. Like I would love to hear some of the objections that you're getting that we didn't get a chance to cover on this call. But But guys, if I will run a little bit over just want to see what else did I missed it Any anybody hear anything or want me to expand on anything because we're going over but I've got a few more minutes before I gotta jump. Feel free to unmute yourself for free to type it in the chat. I'm looking at Facebook comments right now. Going through all these. You're welcome, Melanie.
Unknown Speaker 1:03:22
Glad you jumped on.
Kyle Handy 1:03:27
Yeah, normally I love it. Jace has asked for six you can sell it in 10 days. There you go. That's right. Guys, I'll tell you i mean it's it's it's one of those things you want to be on the same page with the seller, right? Like put put yourselves in their shoes and help them be in your shoes, right? Like if you can kind of align your interests, you know, on any kind of objection, I think that you're going to be better off right? Like if they make a valid point. Like be honestly that you know, that's a great point like hey, but here's what I believe in. Like, I believe I'm going to sell your home. In 10 days in 30 days, and I'm willing to take a risk with you just like you're willing to take a risk with me if you're willing to take a risk with me, right? Like, I think if somebody, like a seller sees that kind of transparency, they're going to be more apt to use it, you know, it's kind of like literally, like, you know, my wife and I, we just bought a house. You know, we're this house we're in now, we just sold it or buying a new house, the house we were going to buy. It was a hot house, you know, they just said, come on the market. We were contingent, because we hadn't sold this house yet. And so we tried to make it contingent offer, and they didn't take it, right. They were like, well, we really don't want to, you know, take a contingency. I said, Well, hey, I totally get that. You know, it was almost like handling an objection in an offer form. And I said, Well, what we'll do, we're going to we're going to take the risk with your seller will drop our contingency because I know I'm confident that will sell our house will put our earnest money stake, which you know, is a decent amount of earnest money. And, and I said because we're that confident and so Let's hear that so so basically we did that we went back with no contingency and got the deal done and then put our house up for sale got our house sold just like we knew we would. So now everything is working out just right but Curtis, would you say I hear that? See fit? Oh, the one I hear
Unknown Speaker 1:05:15
is lost as
Kyle Handy 1:05:16
we are yet. Oh yeah, Yep. Yep, we covered that one. Love it. We're not ready yet getting ready is one of the hardest things to do. What will life look like when the time is right to sell? I like that. That's a good question. Curtis. A lot of this stuff guys again, you know, sometimes it's an actual objection you gotta handle it. Sometimes it's just you know, a concern or a comment or whatever. And you just need to like question it more. That's a big one.
Unknown Speaker 1:05:41
So good stuff.
Kyle Handy 1:05:43
All right. What else guys Anything else? Curtis? Did you have anything to share?
Unknown Speaker 1:05:49
Probably nothing that you didn't cover man. I jumped on right at the end. But are you on your blazing fast internet yet? 250 up and down right now. I don't have the hardware in yet. On the wireless,
Kyle Handy 1:06:00
okay, well good deal, guys. Hey, thanks so much for jumping in and watching this. If you missed this or if you missed any of our past Monday masterminds and want to catch up, you can go over to my Patreon page firstname.lastname@example.org slash Kyle Handy. And I think I've got like now getting close to about 50 prior episodes on there for the Monday mastermind, and then we also do the Tuesday mastermind, and record those and put them on there as well. But the Tuesday one is more for like team building, building your XP real estate, Agent attraction business. And that's what Tuesday's is all about. But I've got all those recorded as well. And so when you go on to the Patreon page, you can either join just the sales team, or you're gonna get all the sales the Monday masterminds recorded. You can join just the Tuesday one and get all the agent attraction ones where you can go get those ones that are recorded, or you can join both Monday and Tuesday and get access to all of them. So I always appreciate all of you that have supported I think we're up to I don't know close over 30 patrons which is amazing to me because we started this like a month and a half ago. So I really, really appreciate your support. If there's anything that I can ever do, I'm always one for good feedback. So feel free to message me. Let me know you know what you like what I could do better. Happy to always kind of also do different topics that you guys think are important. So cool. Well, guys, I hope everyone has an amazing week. And we will see you back on the Monday call next Monday morning. Take care everybody. Bye