This is the final series of closes that address seller’s objections to your commission rate. After reviewing all of the closes, you will find several that you personally like better than all of the others. Feel free to use the one’s you like the best, and use the others as a back-up in case your favorites don’t work. Also, don’t forget that many of these closes can also be used to build your personal brand, or as your Unique Selling Proposition. Here are the remaining closes:
Commission Objection #16-The Just Say “No” Close
People in general respect strength and leadership direction. You can show your strength by just rejecting their suggestion to lower the commission without explanation. This is also a great way to ignore the objection to see if it goes away. If it doesn’t you can always back off. Here is one approach to saying no; “I teach negotiations, I don’t negotiate my fee’s.”
Commission Objection #17- The Professional Close
This close is a great way to reinforce the level of professionalism you are bringing to the relationship. By comparing yourself top professionals in other industries, you substantiate your value. Here is one approach; “If you were to need surgery, would you sit down with the most qualified surgeon and try to negotiate the fee?” Another example would be; “ If you were to go to an attorney to represent you with estate planning, would you beat him down on his fee?” You’re paying for the wisdom and expertise that these professionals, and professionals like me, have developed over years of practice. Isn’t it also important to have the best representation with your most important real estate assets?”
Commission Objection #18- The You Get What You Pay For Close
Most people agree when it comes to service you get what you pay for. We’ve all had situations where we’ve tried to save a dollar and found out this strategy didn’t work when we ended up spending a lot more. Remind your sellers that; “Isn’t it true that you get what you pay for?”
Commission Objection #19- The Extensive Network Close
It’s easy for your sellers to overlook that one of the most important benefits you bring to the relationship is your reputation and the tremendous number of contacts you’ve developed over the years. This close also already assumes they’ve made the decision to use you. You can remind them by saying; “One of the most important reasons that you’re having me represent you is because of the extensive network of contacts and the reputation that I have in the industry. The pinnacle I’ve reached has taken me years to develop. If I’m able to use my reputation and my extensive network to secure a buyer quickly, you’re not going to try to penalize me by asking for a reduction in my fee’s because I’m so good, are you?”
Commission Objection #20 – The Give Up The Little Stuff Close
With many sellers and clients in general, its important for their ego’s that they feel that they’ve “won” the negotiations with you. Give in to minor issues or points of contention and hold out on the major points so your clients feel like they’ve won. You can use this approach to defer on multiple points like the deposit amount and closing date.
Commission Objection #21- The Last Resort Close
If all else fails, as a rare exception, you can offer to take the ½ point from the other side of the transaction. You want to be careful about using this approach very often because you don’t want to get a reputation of cutting the commission of strong agents that represent buyers. Use this approach only as an exception to the rule, or not at all!