Sorry, I only deal with the Listing Agent
Have you heard this phrase before? If so, you’re not alone. The response for some agents is just to say ok, and then delete the person from their database as a wasted lead. But, are they actually a wasted lead? No, they are still planning on buying a home, in fact, it sounds like they are potentially serious about buying one as well.
All the prospective buyer has done is present an objection for you to handle. You now need to sell them on using you instead of the listing agent directly. There is a good reason its called “objection handling” when topics such as this come up. You need to have your points ready to go to counteract this or you may miss out on a few deals a year.
First, you should find out why they only deal with the listing agent. Most of the time it’s of the mistaken belief that they can get a better deal going directly through the listing agent. Sometimes this is true, but the majority of the time having a buyer representative on their side would actually ensure their best interests are better looked after.
Once you have them tell you why they only want to work with the listing agent you are now prepared to talk them into hiring you. You are not going to convince everyone but the more you practice, the more you have prepared, the more of these potential clients objections you are going to be able to convert.
Top Tips for Handling Client Objections:
- Create a list of “common” client objections for using a listing agent, and your develop 1-2 counter points for each.
- Practice with people in your office: find that partner who could also use some practice handling objections and take turns role playing the different sides.
- Come up with an action plan for those leads you can’t convert right now – are there potential future communication touch points which may be of use, or do you simply remove them from your database.
Practice is one aspect that too Agents neglect, to get better at the job and not miss out on potential deals you should be practicing the different scenarios that come up from day to day. Look at athletes, the best of the best get there because for every hour of the game they play they have 5-10 hours of practice.
So next time you are talking to a buyer who says “I only work with the listing agent” be ready to handle that objection and convert them to a client. Not only is it another client for you but it’s actually in the best interest of the buyer as well to have representation. It’s your job to make them realize it!
How do you respond to this objection? Let us know in the comments below.