7 Buyer Objections: What You Should Say
Tip: Compile some statistics that support your responses to frequently heard objections. For example, know how much home prices have risen in your neighborhood and how much energy prices can vary by home size.
Objection #1: The house is too small.
Your response: You can’t make it bigger, so point out a benefit of size. “The room layout is so good that you get a sense of much more space than the square footage indicates.” Or “With energy costs so high, a slightly smaller home will mean lower heating and cooling bills.”
Objection #2: This house doesn’t have a (fenced yard), and I told you I wanted a house with one.
Your response: List all the features the house does have that were requested by the prospect. “You said you wanted a three-bedroom house in Hilldale with an established garden that is within walking distance of the elementary school. This house has all that; adding a fence will not be that difficult.”
"When you hear an objection, smile," says sales trainer Tom Hopkins of Tom Hopkins International, Scottsdale, Ariz. "It means you're getting somewhere." Why would buyers care about a faulty water heater unless they were thinking of buying the house? Why would sellers quibble about a 30- or 60-day listing unless they were thinking of listing with you?
Objection #3: I don’t like the (living room) in the house.
Your response: Ask, "Why?" Then respond to the specific difficulty. For example, if the prospect doesn’t like the color of the room, say, “We could put a clause in the offer that it is contingent on the sellers repainting the room off-white before closing.” If the prospect doesn’t like the number of windows in the room, mention how easy it will be to place larger pieces of furniture in the open wall areas.
Objection #4: I don’t like the location.
Your response: You can’t change the location, but you can try to dispel the idea that it’s not desirable. “There are some great people on this street; your neighbor on the left is a teacher and the blue house is a young doctor and his family. The street has a great block party every year. Or point out that a house in this location is less expensive by a certain amount to one in the neighborhood the prospect requested.
Tip: If the house is $10,000 more than the prospects want to offer, point out that if they live in the house for 30 years, that $10,000 adds up to only about $30 more a month.
Objection #5: The price is too high.
Your response: Again, ask, “Why?” Then respond to the real objection. If prospects only have a certain amount for a downpayment, suggest that their offer include a request that the sellers take back a small purchase money mortgage. Or, if the prospects simply want to get a bargain, say, “You know real estate prices have gone up X percent in the last five years in this area. If you keep looking long enough, you might eventually run across a bargain, but in the mean time, you’re losing money to rising prices.
Objection #6: I’m worried about losing my job in this economy.
Your response: Reassurance is needed here. “Of course, it’s only natural when there have been layoffs, but you can’t live your life in fear of what might happen. If you do, you’ll never do anything you really want to do.” Or, remind the prospects that homes often retain their value or appreciate; the home could be sold or rented if the need arises.
Objection #7: I want to sell my current home before I make an offer.
Your response: “You’ll be under pressure to buy quickly if you wait. You may not get what you want, and you might have to pay more.”
Source: Portions excerpted from Power Real Estate Selling, by William Pivar (Longman, 1988)
Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.