Mike Ferry, 40 Real Estate Objections Handled – Flashcards

"You Know i appreciate that, and I want to be up front with you and say NO, I will not cut my commissions, and for one very simple reason". "AS a proffesstional my time has a certain value of my service....and before you say anything, think about this..."if an agent is willing to cut his or her commission, just like that how well do you think they will hold up when it comes to negotiating the best possible price for your home?" I want to demontrate, up front, how tough I am going to be for you...Therefore, cutting my commission is not an option...does that make sense?"

"That's great, I can appreciate your loyalty and that is a quality that i can respect in people...so, I am curious, let me ask you this..."Has there ever been a time when you decided to by something or do something and a friend said, "Hey, no problem when you need help, I can do it" and in the end, because you didn't check around, you really didn't get what you wanted..Have you ever been there before?" (YES) "Well, I think you might find that this time is just like that time, and with that in mind, I'm sure you can see the importance of having me over to give you a second opinion...that wouldn't hurt anything, would it?"

I'd level shift..."You kow what? You're right! There are only a certain number of things and agent can so to get a home sold and I think the final decision is not based on what I do differently..."I hink the real issue is how you feel about the agent representing you...So tell me, what qaulities are you looking for?"

"It's kind of cunfusing isn't? I mean, you interview four agents and you get four different prices...right"? (YES,why is that?) "You probably thinking why did this person come in with such a low price? Does't he or she want to get our lising? Well, my answer is Yes and No. "You see there is a very bid difference in the way that I operate and the way that most agents operate. Most agents manipulate the computer to show figures that they think you want to hear. Why? "Well, most agents don't do much or ger much business. Getting your listing makes them feel like they are accomplishing somthing... Whereas, I on the other hand, sell homes, non-stop, all day long. Do you want to know why?" (Sure) I tell nice people like you, the truth. Did you know that only ___% of the homes that are listed for sale actually sell?" (No, I didnt know that) "There's a bery simple reason, do you want to hear it?" (Yes) "Most agents do not have many listings. Therefore, convincing you to list your home with them becomes very important. "Thats why they'll tell you whatever price they think you want to hear, even if they know six month from now, you will not be happy with them at all because no buyer will look at a house that is over priced...Does that make sense?"

If a prospect has no reason to sell their house then that is a condition. You can't overcome conditions.

"I understand that advertising is a concern...Are you familiar with the difference between passive and active marketing?" (No) "Passive marketing is basically sitting around with your fingers crossed waiting for a buyer to shop up and buy your home... Passive marketing is holding open houses, sending out flyers and advertising in the newspaper... "You see, these methods are passive and you can't predict if they will work or not. Yet, agents that don't wnat to work at getting your home sold will insist that they have sold many homes this way...And do you know what? "I agree, you can get a home sold that way...But you can't guarantee it. Do you understand what i mean by passive, basically sitting around waiting to get your home sold? "Active marketing on the other hand is much more aggressive and very predictable. "I will be on the phone every single day and call 10, 25, and 50 even 100 people asking them if they would like to buy your home, if they know someone who would like to buy your home or if they would like to sell their house... "Do you know why I ask them if they would like me to sell their house?" (Why) "You see, the more signs I have out in the community, the more buyers that will call on the signs. The more buyers calls I get, the more people I can show your house to... "Now, which way passive or active do you think gets more home sold? "Would you like me to spend all my time and effort doing what is proven to get youe home sold or would you like me to sit around with my fingers crossed hoping a buyer happens to call?"

I'd level shift this one, I'd say..."I can appreciate that and you probably haven't had a chance to think avbout the advantage I have I over my fellow agents in town... "You see,the more listings I have, the more signs I have on the streets. The more signs I have on the streets, the more calls I get from buyers...and, of course, most of those buyers don't buy the houses they call about and many of them will be very interested in our house. "Can you see the advantage of listing with an agent that has 20-30 signs on the street working for you?"

"I agree, finding your new home is important and the unfortunate thing is...it may take as long as three months for your home to sell. Then it will take another two month to get all of the paper work done and, bythat time, any home that you would have found would already be sold. "Let's get the listing agreement signed right now and get to work on getting your home sold tonight, so you don't have to wait any longer than is necessary to get moved into your new home...sounds good?"