How many times have you worked with a buyer that appeared ready, willing, and able to buy where you’ve met all of the conditions, yet the buyer refuses to make an offer. It can also happen with sellers who are thinking about listing. Consider the following examples:
- Scenario #1 (Buyer): A buyer may like a property that’s listed for $290,000. He may ask you, “do you think the seller would take $260,000?” You respond by indicating there’s no way to tell and suggest they put the offer in for $260,000, only to find that they have another condition that needs to be met.
In this scenario, it’s hard to determine if the buyer is just making excuses or is sincere and is expressing a genuine concern. Instead of making a suggestion or giving advice to the buyer, it’s important to isolate the objection by asking a question that relates to the condition they have identified. In the above scenario, the buyer appears to want to buy for $260,000. Isolate the objection by asking, “If the seller were willing to sell for that price, would you want to move forward with the purchase?”
- Scenario #2 (Seller): You’re on a listing appointment and the seller says that they really like you, but have several improvements they want to make to prepare the house for sale. You agree to allow them to make the improvements before they list and to call you when the house is ready.
In this scenario they may be telling you the truth, or they may just be putting you off. Instead of taking the risk of losing the listing, you ask them, “if all of the improvements have already been completed, would you want to move forward with listing your home today?” If they say yes, it makes sense to have them include the condition in the listing agreement and get them to sign immediately.
- Conclusion: By asking a question about a condition that must be met before your buyer or seller will move forward, you are determining if there are additional objections that you must overcome. The answer to your question will be very telling. If the buyer says yes when you ask the question about moving forward, you’re ready to take the next step. If your buyer is hesitant, they may not be comfortable with you, or there may be another objection that must be identified. It’s far better to know the exact issues before you waste a lot of time overcoming an objection that may not be relevant.
Always use the question below to isolate all possible objections:
“If you could get _____________ (name the condition), would you move forward with your decision today?”