SESSION 3 Helping FSBOs & Handling Objections Time Tip of the Day... Always finalize tomorrow s schedule before the end of today If you don t have a plan for yourself, you ll be part of someone else s. - American Proverb Objectives This session is designed to help you... Identify a four-step objection handling formula and begin practicing its use Identify how to find and initiate contact with FSBOs Recognize the challenges FSBOs face, and how you can help Customize and apply the Five-Step Prospecting Formula to FSBOs List several services you can offer to gain attention and set appointments with FSBOs Identify proven strategies for value-added FSBO drip campaigns and operated. 1
Responding to Objections An objection is not a rejection; it is simply a request for more information. -Bo Bennett Why do people say No? Incomplete understanding Misinformation Fear Uncertainty Things are happening too fast Lack of motivation Your choice: When to respond to objections Immediately Acknowledge, but postpone until later Never Before the objection is raised CDDC A proven format for overcoming objections and operated. 2
Clarify Dignify Disarm or Defer Confirm Identify what the objection is and why it is an issue Just so I m sure I understand... Would you share with me why you feel that way? Can you tell me more? Would you please explain that a little further? Clarify Dignify Disarm or Defer Confirm Acknowledge their concern with empathy I understand. I can appreciate the way you feel. That s a reasonable concern. I respect your point of view. A lot of buyers have expressed the same concern. Clarify Dignify Disarm or Defer Confirm Disarm: Answer and overcome the objection Fill the voids in understanding Provide new insights and information Share a different perspective on the subject Use visuals and talking points Note: Check Appendix for Objection Answer Key and operated. 3
Clarify Dignify Disarm or Defer Confirm Defer: Use the objection to leverage an appointment Useful when prospecting Meeting in person is the first step Seller Objection: Length of Listing Seller: I m not comfortable with a four month listing. I would be willing to list for 30 days. Agent: I see. Just so I can better understand, what is it about the 120 day listing term that concerns you? Seller: You have made a lot of promises, but how do I know you are going to keep them? I don t want to get locked into a contract if it turns out that we are not seeing results. Agent: I can appreciate the way you feel, Mr. Seller. That is a reasonable concern. For your protection we will give you our exclusive CENTURY 21 SELLER SERVICE PLEDGE. The pledge puts my company s promises in writing, along with our assurance that we will deliver on each and every one of our commitments. In fact, if we don t deliver on our promises, the pledge allows you to be released from the listing. (Review and sign the CENTURY 21 Seller Service Pledge) Seller: That s good to know. Agent: Do the assurances of the CENTURY 21 Seller Service Pledge help you feel comfortable in moving ahead? Seller: Yes. Where do I sign? and operated. 4
Beware of the Stall A stall is what a prospect says to conceal the real reason they don t want to move forward I want to think about it. We will have to sleep on it. Excuses of any type that don t seem valid A stall is a smoke screen. Get through it by asking questions to uncover the real objection. Break Out Room Discussion Price Objection Working within your breakout room, discuss the application of CDDC to a price objection raised by a seller during a listing presentation. Share ideas on how you may effectively overcome the objection in the Disarm step. (This subject will be explored in greater depth in Sessions 6 and 7) For Sale by Owners Understanding owner motivation Save commission Bad previous experience Good previous experience Does not see benefit Control Shopping for a sales associate Turned down by other sales associates What can you offer a For Sale by Owner prospect? and operated. 5
FSBOs greatest limitation: Exposure to Buyers FSBO Exposure: Sign, Classified ad, Craigslist Your Company s Exposure: MLS Global Referral Network Business Builder Expansive web presence National advertising and much, much more! For Sale by Owner First Contact Introduction Reason for Calling Ask Questions Offer a Service Close for the Appointment Introduction Full name and company name Speak clearly Calm confidence Reason for Calling Offer help and guidance Ask to see the house Offer buyer assistance or referral and operated. 6
Ask Questions Offer a Service Discover motivation and urgency Listen to responses Ask follow up questions Uncover needs Check the Appendix for suggested questions Comparative Market Analysis Your marketing plan Staging guidance Review class exercise 3 discussion notes for more ideas Close for the Appointment Use the Alternative Choice approach Be persistent Staging guidance Review class discussion notes for more ideas Role Play For Sale by Owner First Call Choose phone or face-to-face and tell your partner. Demonstrate all five steps of your first conversation with the owner. Ask questions and select a service to offer. Look for opportunities to use owner questions to leverage the appointment. Good luck! Best Practices Be the first sales associate they hear from Position yourself as a helpful resource Determine motivation and urgency Follow up frequently and operated. 7
Session 4 Your FSBO Drip Campaign Personal visits Phone calls Mail Email Social networking What are some of the tools and resources you can include in your drip campaign? Action Items Please complete the following: Look for opportunities each day to meet people, present your business card and offer your services Report your activities and check off completed homework in the CREATE 21 Reporting Site Begin searching for new FSBOs each day Establish first contact with at least 5 FSBOs this week by phone or personal visit Input new FSBO contact information into CENTURY 21 Business Builder, and create a FSBO prospect groups. Sign into 21online.com and review the CENTURY 21 Business Benefits SM offers that may be of interest to FSBOs Begin to plan and identify elements of your FSBO Drip Campaign Complete the pre-recorded class, 21 st Century Prospecting Techniques Appendix Forms Objection Answer Key FSBO Talking Points FSBO Drip Campaign Ideas and operated. 8
Ask Broker or Manager Notes on things I need to discuss with broker or manager for this session: and operated. 9