5 Common Objections in Real Estate - Objection Handling LIVE ROLE PLAY |

What would it feel like to know exactly what to say and how to say it when you get an objection from a prospect?
You’d probably…
…Feel more confident to pick up the phone.
…Convert more leads into deals.
…And gain more control of your business.
That’s what I want for you.
And that’s why this #TomFerryShow is dedicated entirely to role playing five of the most common objections agents hear from buyers and sellers.
Learn more: bit.ly/2ziUmCe
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#TomFerryShow Episode 140
You are advised that any Information provided on this podcast is not legal advice. Ferry International assumes no responsibility for consequences resulting from the use of the Information. Some of the Information may be outdated or not consistent with current law.

[@adriansmall9011]

It would be great to see a video addressing these same questions for agents just starting in the business.

[@jamessansonteam]

Is your broker/brokerage just starting? We is a powerful word.

[@wj3438]

@@jamessansonteam great point

[@MatthewOchoa]

@@jamessansonteam and that’s great but then your client says “but how many have YOU sold?” Then what?

[@JAKKAL]

If your a new agent, bring up your mentors track records and let them know you are determined to outsell your mentor this year. Let them know you get up at 5:30 every morning and are the first one in the office. " do you want someone who comes to the office at 10:30 and takes 2 hours to actually start working? Or someone who starts making phone calls in his car on his way to the office at 7:30"? If it's your age bring up how you are savvy with new marketing techniques etc. Many ways to figure it out.

[@AMavenOfSorts]

I'm a new agent and I wouldn't even be phased by someone saying they sold 37 you've sold 3. When handling the discounted commission..." You were able to talk them down on commission, and you're not even in the real estate business! Is that the person you want to be negotiating to bring in top dollar for your home when they are dealing with other professional agents?! How do you know they won't be willing to settle for less with your home?

[@470interista]

nice one

[@thewalkerestate4846]

On the flip side, lowering the commission rate for a friend can be seen as the agent is genuinely looking out for their friend's best interest. If the agent wasn't able to give a discount on the commission, do you really think that the agent is really looking out for their friend's best interest? Providing someone a discount doesn't mean they are inept; it means that they want to do a friend a favor in one of the most stressful sales process in most people's lives. Let's take it to an extreme. Which agent is looking out for their client's best interest? An agent who is charging a 10% commission or an agent charging a 0% commission? Would you rather work with an agent that charges a 10% commission; or, would you rather work with an agent that charges 0% commission? I don't like this argument for a listing presentation because it lacks substance. Better arguments are "For my commission rate, I do photography, home warranty while listed, marketing through all resources, weekly open houses, negotiations, transaction coordination, appointment planning (home inspection/appraisal), etc."

[@jen4544]

@@thewalkerestate4846 when it comes to business, it’s business not friendship. lmao

[@thewalkerestate4846]

@@jen4544 Must be rough if you can't even give a friend or family member a discount on your services.

[@alexsellsweston]

This is refreshing, simple and to the point, overthinking often leads to panic when confronted with an objection, definitely knowing the scripts creates confidence, but making the conversation flow is key..

[@chargo2k]

You are the greatest. I'm tuned in. However, you are speaking more to the person who has experience, sales, listings under their belt to use as examples. Do you have classes for brand newbies; people with not much yet transpired in their careers?

[@DanjaKOG]

Man, this was a good one. I'm new to the industry, but come from a background of outbound telephone sales in the cruise industry (8yrs) and Territory Management another 8 yrs, so I understand and appreciate the value and POWER of sicking to the script. Precisely, at firist. I'll probably just spend a morning memorizing this exactly until I'm ready to start tweaking. I just started watching your channel and I really appreciate the incredible value you give away for free on KZbin. Thanks for that.

[@costby]

The last comment made my day and is exactly why i am in my 10 week "Build the Best Agent " personal training with your information nothing will stop my success. Thank you for being Awesome!

[@jasonluong7292]

Wow, Tom. That was a great training. The delivery and engagement was very informative, and you can tell it was live and engaging. As a former Top Salesman in similar industries, I remember all these principles -- KISS, Confidence, and Close.

[@brittanysavage2065]

PLEASE DO MORE ROLE PLAY! Love these videos. Excellent!

[@lacyMindsetConsulting]

I need to work on my objection handling. Thanks for the video!

[@lutonyajohnsontv6069]

I pray to be this good. Lovely!

[@NyahookDilangg]

Hey Tom! I absolutely love your approaches. The objection I’m having the most with is #2 I want to know other ways to make the customer more confident in choosing me

[@VandaMartin]

Love love love it!!

[@ericnganga6380]

Superb one Tom. Always very insightful to watch every week. Thanks!

[@benaiahrawlings2764]

One of the most Savvy objection handling clips I’ve seen

[@lifeconductor]

Awesome material once again from the Master. Thanks Tom!

[@anitablakemore8751]

Very helpful! Thank you from a newbie agent!

[@Vlad-dz7wm]

Thank you Tom!

[@brianeliel5756]

Amazing listen to this over and over

[@samanthaclifford-tu6011]

thank you so much for sharing Tom!

[@julianamadorrealestate6783]

I would like to see this on a call with a real prospect

[@MarjorieTornatore]

This was awesome !!!! love it !

[@pattyrosales-rasband4048]

Great way to deal with objections... Thank you

[@mgmg-ky3ty]

Love this video

[@mdjordjevic08]

Awesome job Ryan!

[@rajuchand8858]

Wowow it’s outstanding

[@mrsmichellegomez]

Great content!

[@claptongoodrich83]

How to deal with objection #1: trash the new agents. Way to go.

[@xCharjx]

Tom definitely makes this look exciting.

[@MsNohogal]

Loved it. Other objection videos like this would be so helpful. Such as, you are trying to get the listing when competing with mega agent? Is there still mirroring going on between the two of you?

[@agentadam007]

Really good.

[@happyclienthappyrealtor4228]

WOW! your amazing Tom. :D

[@hildarodriguez3219]

I like the way you explain everything, thank you for sharing your videos and knowledges👏🏼

[@marioruiz7347]

Very good!

[@WinstonSaga]

Awesome stuff

[@JeremyLMarquez]

On point TF! TY, taking this right to the next session!

[@bernardting3361]

Excellent analysis of objects

[@sellfastnv1017]

Awesome video

[@abbymathewteam]

Thanks

[@mrdavid3163]

Love u sir

[@MsNohogal]

Awesome. Is there a video or book for "jet eye language" you would recommend? Your brother had a great set of CDs on "Cause & Affect" .

[@sabelle4002]

But what if you have no experience, I can't say well let's compare track records

[@CrystalSV]

If you are a new agent, make sure you have a good mentor or coach that will help you with your confidence with handling objections. When you create strong rapport, give them something of value they are looking for, and have strong market knowledge it's easier to overcome objections without feeling like a bully. Being very confident with your service and market knowledge goes a long way. I don't personally like being approached with aggressive sales. Logic, value and respect is how I'm sold.

[@jamessansonteam]

Remember you represent your broker/brokerage so the world is yours.

[@DavidsonNF]

@Mr. Kattan I am in a competitive market and even the 'high producers' in my area lower their commissions to get listings. Everyone wants to make it like no one lowers their commission and I went with that strategy and tried to stick to my commission rate and I learned you cannot always do that. You will lose listings in my area and sink quickly without giving alittle here and there. You have no idea how far just a slight reduction can go in those sellers eyes and how much business you may gain from them in the future. You are growing a service/relationship business. Remember that.

[@MichaelSmith-ny9qh]

@@DavidsonNF also remember if and when you get referrals, they will also expect you to lower your commission. Not great for long term longevity.

[@wendybrandonrealtor4386]

1. Objection: Oh, I already have an agent.... But I don’t remember their name and have no way to reach out to them! I will get back to you-I love this home but need to get in contact with my Realtor 😂😂😂 I’m worried my home will not sell and that makes me anxious. 1. I can tell by your body language and apprehension that the house buying and selling is stressful for you. That is why I am here to ease your mind and take the pressure off of your shoulders. I am knowledgeable and will give you the best plausible solution. For example the purchase agreement can be entered on your terms after all this is a life altering decision. I will be with you each step of the way.

[@ashleymoraruwithmathersrea9277]

Who else is extatic to be a real estate agent who is following Tom Ferrys training?! Love my full time job!!!

[@christianward_realtor]

ecstatic

[@jamessansonteam]

@@christianward_realtor I like extatic better.

[@Logicalpsycho2323]

2:25 the "later".

[@Brecken24]

I liked the video minus the part where new agents get thrown to the curb.

[@france1437]

Thanks for sharing. Are you by any means related to Fred Perry :)

[@gerardovaldez7148]

Absolute genious!!! Bet Tom could sell a pair of rubber boots to Mr. Lucchese 😂😂

[@jeaninebakry1]

what about a new agent with no or little sold properties, how can the agent overcome the objection

[@yingwang7618]

For the 1st rejection. What if you are a new agent and you don't have track record, sellers are telling you they got low commissions friends? Thank you in advance.

[@GNOYIL]

Hey Tom, what about objections to new agents who just joined the industry, we obviously do not have many experience, how do we turn that around

[@BenBarredo]

The first objection about comission only works for an established agent with closed listings. What if you don't have much.

[@realestatecody792]

All Things Knoxville use your market center’s numbers if you don’t have any listings or much experience

[@HowardFeinstein]

Tom said when using the low listing price strategy is that we don't have to accept any offers... I thought the seller had to accept a full price offer with no contingencies?

[@ancestralpolitics7433]

I am a new agent (actually, I'm not even an agent yet - but getting there!). I am fairly confident this isn't true, as sellers can refuse to sell the property even after offers come in above list price. I would like to ask, though, how often do full price offers come in with no contingencies? I have sold several of my own personal properties, and I haven't seen anything like that. Most of the time, buyers I've seen want inspections, help with closing costs, $10,000 in repairs/upgrades, etc. I don't have near as much experience with it as agents, so I am seriously wondering: how often does this happen? Thanks!

[@christianward_realtor]

@@ancestralpolitics7433 depends on the property, the market, market timing etc. In my market I've seen multiple-offer situations with minimal contingencies, over asking price offers, "as-is" offers.

[@BryanSanchez321]

What Tom mean at 14:09 he mentioned renting back the property but this is a Listing for sale

[@alexlytle089]

Not everyone has the experience so that's easy way for someone who has alot of experience in realestate

[@shehabattar6852]

that's great to handle clients who want to sell...WHAT ABOUT BUYING OBJECTIONS??

[@myracarter8029]

Objection: "I am looking for someone with more experience."

[@sakygen]

Myra Carter True I’m not the most experienced agent out there. I might be the youngest realtor out there but what if I’m the one who could sell your house for top dollar. Would it matter then? Then let’s sign the contract here

[@camerondye6108]

Myra Carter I totally understand and it’s a valid concern. I mean Sure you could go with the guy that has 10 or 20 years of experience, but with that you also have to consider that he has tons of other active listings, clients... he has other responsibilities that require him to divide his focus, attention, time and energy. I, on the other hand, will live and die by THIS deal. I will tattoo the street address of this property onto my chest because I’m committed to you and I’m committed to this deal. If you want someone that’s gonna hold you hand 24-7 until this property is sold, answer every late night call, text, or email about what’s worrying you, I’m your guy because I’m committed to you and I’m committed to this deal and everyone else is too busy to give you that level of attention. Let me ask you a question ____. Do you believe in me and my ability to get this sold? Awesome, then let’s get thing done.

[@Vlad-dz7wm]

I am a starting agent🙂

[@LanreFolayan]

If there isn't anything different why waste the time? I am not asking you to break your promise. I am asking you to consider that if there is nothing different let's move forward? Great reply to Seller who isn't sure about hiring you as their Listing Agent.

[@poodletalk5608]

I am a brand new agent...how would you tackle those same objections?

[@wendybrandonrealtor4386]

Deanna Moose how is your business doing. I’ve been an agent about 7 weeks. I have the same question as you! There for sure is a learning curve right.

[@raymondandrewvelasquez256]

@@wendybrandonrealtor4386 I have been informed for new agents, you should always tell the truth, but drift away from the question such as well, my team and i at ... have sold ... this many houses this month etc.

[@scarletluck]

please stop bashing the new agent or the friend agent for a discounted commission, it is not true for everyone that once you accept a lower commission you wont work as hard at negotiations. If that was the case i wouldn't have made some of my sales last year, i work just as hard regardless of whether is 2.5 or 3 or 5% . I give it always 110%

[@sharphomesolutions1685]

O G you’re missing the point.

[@jamessansonteam]

Remove the term commissions out of this. I do not care about yours. The question is what are you worth? Are you worth the .5%, 1%, etc and what is your value that you are going to give to the consumer? DO not say the same... If you were in the hotel business and you had three product lines 1. the ritze 2. holiday inn, and 2. motel 6? All excellent choices for somebody. But you as the owner would you charge $39 a night for the Ritz or would you charge $3000 a night for motel 6? You do yourself a disservice to say no matter what I charge I will deliver the same exact experience per client. It is near impossible to deliver the Ritz experience over time for $39 a night. Know your value Prop and you will kill it. I honestly hope this helps. I m not trying to pick on you as I live in a glass house too so no stones being thrown.

[@scottmmontoya]

Jesus !! Objection SLAUGHTER... Objection handling my ass... Bahahahahahha wonderful training you're giving us Tom !! (Personal training business owner in central Florida)

[@martinimikeyrealtor9985]

Objection #1: What if you haven't sold as many homes as the other agents? What if you are the agent who has sold 3 homes and the other one has sold 37?

[@christianward_realtor]

I've heard a response to this objection like this: "I get that you might think an agent who has sold a lot of homes will do better for you. These bigger agents do sell a lot of properties. Would it be important to you to work with someone who treats your home and you as one of many transactions? Or would you like to work with someone who is young and hungry and committed to giving you their all 100% of the time?" I had this specific objection recently with a couple who said they were speaking with other agents who had more experience than me. I used these words and asked them to compare the marketing plan these more experienced agents were offering to mine. "If you believe one of them has a better marketing plan than mine, you should go with them." I'm not saying it will work all the time but I don't need and don't count on getting every single listing for which I go on an appointment. In baseball, someone who gets on base 3 or 4 out of 10 at bats is considered a very good or great hitter. What do you want to be? Good luck.

[@riannar4394]

@Christian Ward Homes thank you thank you

[@sergiorodriguez4722]

Honestly, the best part is how the Asian dude can’t stop laughing and smiling lmao

[@gunny1391]

I had a horrible experience with one of Tom Ferry's sales people for coaching. The "consultant" completely lost his composure due to the fact that I wasn't ready to pay $700 a month for a half hour of coaching per week. The end result was yelling and hanging up. I was not expecting to have this type of experience. If this guy is still training sales agents, he needs to hire someone else.

[@yosvy305]

All good,except the part where new agents get trashed.Imagine 37 vs 3.Who is the best?Haaa,well you are.

[@Sevillana]

Very discouraging when you are a new agent trying hard to do business and going against an experienced agent.

[@christianward_realtor]

don't get discouraged. tout your marketing plan and not your experience or mention how hard you work for every client. go on the listing appointments for practice and get better. you'll start winning some. Good luck!

[@MichaelSmith-ny9qh]

You don't have to use comparison, the fact that they will lower their commission says a lot and a seller shouldn't want that.

[@jdwilliams9769]

ALL customers are tuned into WIIFM (What's In It For ME). If you are using the "compare my listings with their listings" methodology to win, you have already lost. Find a mentor. If the 'experience objection' arises during your first few months as an agent, reference your mentor's experience. After that, point to your recent acomplishments if queried. 100% of the time, people want to know WHAT you can do for them, not WHEN you did something else.

[@jimmylarsen1599]

I often get, I'm working with an Agent.

[@anjalbahal5113]

what if you are starting as a new agent and your competitive has over 3 M in sales plus he/she is a discounted broker too

[@osbornes0307]

Anjal Bahal lol then you mention the fact that they lowered their commission so easily

[@edwardstephens2564]

Let’s go back to the part where a professional coach tells the prospect to hire the competition rather than hire himself. Let’s just savor that for a moment.

[@tatumphilip8475]

I feel like the majority of agents looking up videos on how to handle objections are going to be newer agents. The first five minutes is very discouraging and cringe worthy... not sure I want to finish the video. I believe there's a better way of handling this than pulling up someone's record.. I understand selling a large number of houses a year is something to be proud of and useful for credentials, but you don't have to bring someone down to share that information.

[@creditexpressllc6539]

It’s about perspective. That’s how you see it. A more seasoned agent sees it as an opportunity to demonstrate how they dominate their market. Real Estate is a competitive business.

[@leenav9741]

Just curious, why possibly, do we feel it's, maybe a little, cringe. I feel this too but don't know exaxtly why. I'm guessing because it's sounds a bit too Salesie, but what do you think?

[@francoherrera601]

Exactly my thoughts as well!! He kept handling objections as if you are already a seasoned pro. Not everyone is a tom ferry level. Most agents who would struggle the most with objections aren't going to have this great extensive track record to fall back on.

[@richemari262]

My question is how you can handle if the client question is afrail in earthquake.

[@Vlad-dz7wm]

Objection: I CAN SELL IT MYSELF, NO NEED FOR AN AGENT...

[@eddiedelisio]

((Goes against NAR ethics to speak against another agent to get a client))

[@pablojaramillo2098]

Tommy

[@470interista]

you could sell sand to berbers

[@alicezhangwitherealty6725]

Pople who sells 37 houses doesn’t need to see this video

[@pumpkon1]

I am getting really annoyed when you push in when they have a friend in the business. Maybe the friend is a true friend and is happy to help with a discount. Just because they are friends does not mean they will lose their friendship over it. You teach both and turn it against us. You teach go after your friends then dis the agent who has worked with their friends. My friends like me and trust me and I would be very annoyed if I heard that another agent was putting me down to them just to get a listing. I think that it's rude and disrespectful.

[@lovelyzusha123]

My most common objections: 1. My mom/sister is an agent. 2. I can't afford to pay a commission, I'm at my bottom line 3. Are you local, have you sold a lot of homes in the city?

[@christianward_realtor]

I always wonder if someone has someone close who is an agent, why they are interviewing me.

[@bearman631]

@@christianward_realtor what?

[@NiceYoungJa]

I like Tom most of the time, but this one, I feel he talks too much.I handle anything uncluding friend in business this way. "You worry about 6%, I worry about your 94% Which one of us more to lose? I go get my money, more important than that, I go get your money. Do you want your money?"

[@Ryan-fb3mj]

You don’t even sell houses

[@Kevin_Phu]

Either your "sales trainer" is a good actor or he's actually not that knowledgeable to be training people in sales...I'll go with he's a good actor since Tom put's out legit content.

[@kingtrawal]

Ryan sounds like a bad sales person

[@vs9312]

it doesn't make any sense for new agent's! this is an arrogant and snobish video. 👎👎👎 thrashing new agent's to get the deal ?

[@1234ahhh1]

I thought the same, isn’t this an ethics problem to trash another agent? I pretty sure something like this would land you an ethics complaint to the board. 🤷🏻‍♂️

[@claudiac-rottenberger4773]

Sorry, but I don’t like this. Putting another agent on the spot like that for the sake of making yourself look better is just not my thing. Timo each it’s own, I suppose.

[@kingtrawal]

alot of new agents don't have the track record, so this objection handler is useless.

[@Sarasarah3]

Yawn