How can I handle seller objections in our shifting market? By now, you’ve probably felt the shift in our real estate market. Price reductions are more common, and it’s getting harder to sell clients’ homes.

Things are sitting a little bit longer, and that’s not just because of the time of year. This is bad enough on its own, but to make things worse, many sellers don’t have a clear understanding of the market. They think that we’re still in the 2022 market before the shift. Having conversations about these struggles can be awkward at best, but at worst they could cost you and a client a lot of commission.

How can you prepare yourself for these situations and make sure your clients stay on track to sell? One of the best ways to prepare for a situation is by practicing a good script. So here are three common seller objections and scripts to address them:

  1. If your client says, “I want to keep the price the same as the last listing,” you can be put in a tough spot. There’s a great script from Tom Ferry in his article designed to address this complaint. Usually, sellers don’t understand that just because their neighbor’s home sold for a certain price 90 days ago doesn’t mean they can get the same one now. This script will help explain how the market works and provide a clear path forward. 
  2. If your client says, “If we reduce the price of our house, will you reduce your commission?” it might feel like a personal attack. However, your client may just be expressing frustration or might not understand how commissions work. There is a wonderful script by Donna Fleetwood that is designed to educate your client and pivot the conversation back toward working together.
  3. If your client says, “I don’t want to reduce the price of my home,” they’ve given up on niceties and decided to get right to the point. For this, there is a script by Rich Levin about empathizing with your client. You have to understand that whatever goals they had in mind might not work with a lower price point. Your job is to provide a game plan and help them realize there is still a path forward.

“Your job is to provide a game plan and help them realize there is still a path forward.”

We’re in an interesting time in real estate. The market has already shifted and we are looking ahead and adjusting to the new way of life in real estate in 2023. If you’re having any problems or have any questions about how you can adjust to this new way of life, feel free to call or email me. I’m always happy to help you.