Real Estate Scripts for Buyer Objections in The Current Market
People often wonder about the best buyer real estate scripts in the current market.
The reality is that it largely hinges on the present market conditions. At the moment, purchasing a home can appear intimidating to many because of elevated interest rates and worries about declining home prices. Employing real estate scripts to tackle potential buyer objections can be challenging, as you want to avoid seeming overly aggressive.
Today, we’ll discuss real estate scripts for buyers that help you handle objections in a non-salesy way. Let’s get started by delving into the theory behind it all.
What is Script Practice in real estate?
Script practice in real estate refers to the process of agents rehearsing and refining specific dialogues and scripts that they use when communicating with clients, prospects, or other stakeholders in the real estate industry. This practice involves memorizing and practicing scripts to effectively handle various situations such as real estate pricing, cold calling, lead follow-up, objection handling, and negotiation, ultimately aiming to enhance communication skills and improve overall performance in real estate transactions.
Phil Jones' Approach to Objection Handling
Phil Jones, a speaker at our Success Summit, has provided our coaching members with a masterclass on handling objections. Through this masterclass, our members acquire essential techniques and build the confidence needed to manage objections smoothly, thereby improving their success in closing deals in the current competitive market. Here are some of his insights.
“What is a real estate objection?”
In his masterclass, Phil asked, “What constitutes an objection in real estate?” At its core, an “objection” is a challenge to your authority. When someone presents you with an objection and you counter with another objection, it’s akin to retaliating to a punch with another punch. This puts you in a confrontation.
How to handle real estate buyer objections with scripts
You need to lead the conversation, and that’s done with questions. When you respond to an objection with a question – or better yet, pose the question before the objection even comes – you establish your control and position yourself as an ally.
So, what questions should you be asking everyone you meet, especially potential home buyers, as part of your real estate scripts?
Key Questions for Your Buyer Objection Scripts
The Buyer Objection Trifecta
Here's a simple approach to initiate a discussion about real estate. If you notice any apprehension when the topic arises, simply ask: "What's the latest on the real estate market?" You might encounter a variety of surprising opinions such as:
- The market’s crashing
- We’re heading for a housing mess
- It’s the worst time to buy
But now here’s Part No. 2:
“Would you mind sharing your sources?”
Instead of coming across as pushy, approach the question with genuine curiosity. Typically, people get their information about real estate scripts from various sources like office chatter, family members, or news outlets that may not cover all aspects of the topic comprehensively.
Now, here’s Part No. 3:
“Has anyone taken the time to show you the real data on our local market?”
When you ask questions instead of just telling, it can be really effective. Instead of pushing a real estate scripted sales pitch, you’re offering something new. In a recent webinar with market expert David Childers, we shared Keeping Current Matters’ latest market data slides. These slides are for agents to use in their meetings and promotions. All you have to do is download the KCM slides here and then use them to do what you do best.
The Most Important Question
This real estate script is straightforward yet impactful. It poses an essential question to buyers:
"How long do you intend to reside in this home?"
This might not have been something they considered before, but once you ask, it prompts them to reflect on their response. By posing this question, you demonstrate a commitment to understanding their needs before tackling any objections. It’s not solely about their financial situation; it’s about their motivations for purchasing a home. Additionally, this question encourages them to think about the long-term.
When you present data on home price appreciation over time, it helps them recognize the advantages of buying now, even if the market appears uncertain. However, if their plan is to stay for only a short period, you can assist them in exploring other options that better align with their needs.
Did You Write These Objection Script Ideas Down?
So there you go… the best real estate script ideas for today’s market. These questions are so simple yet powerful that I want you to have them not just memorized, but internalized and ready to use with every single person you talk to going forward.
I hope these scripts for real estate are helpful, and if you follow through with having these conversations, I know they will be.
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