A natural part of working as a real estate investor is dealing with objections. This might include an objection to an initial offer, an objection during the negotiation process or an objection when making a counter offer.
For example, if your buyer offers you an objection that they are not interested in a property (because of the location) or don’t want to be north or south of a certain street, you have the opportunity to help them by meeting their request and finding a better location or property.
How you handle the objection shows your strength and ability to deal with everyday life as a real estate investor. It also demonstrates your professionalism by simply listening and acknowledging the concern.
Most confusion or conflict can best be avoided all together by simply asking good questions – where specifically are they buying properties and what type of properties do they wish to purchase? Clarify, is it a core item or is it a wish list? For which items might there be some compromise? Let your cash buyers tell you.
Once you get the home under contract, that is usually when the objections will start. If you can’t overcome the objections and you find yourself stuck with a home that no one wants, both you and your buyers are frustrated!
Not all objections are the same. Some are deal-breakers, but most aren’t. And with enough experience, you’ll know that even a deal-breaker objection can be overcome under the right circumstances. Instead of dwelling on what they don’t want, suggest another solution.
As you start any business relationship with a buyer, clarity and good communication throughout the process will help you better navigate and overcome objections.
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