At some point in their careers, all real estate agents face objections of some sort. Real estate expert and trainer Dan Hamilton provides a comprehensive explanation of the stalls and conditions and how to handle them in his new book, Real Estate Marketing & Sales Essentials: Steps for Success.
A condition is typically something that is outside of the seller’s/buyer’s control. Hamilton uses an example of the buyers’ uncle having final approval of the house because he is giving the buyers the money. In this case, the uncle is actually the decision-maker, not the clients. If the uncle says no to the home, the transaction stops. Even so, there are ways to handle a condition. In this situation, either speak directly with the uncle (the decision-maker) or ask the clients to have the uncle put the funds in an account for them. To handle this type of objection, according to Hamilton, you have to believe that there are no conditions, only stalls.
Agents typically will come across more stalls than conditions. “Most real estate people fail to close because they feel they have run into a condition when it is only an objection,” Hamilton said.
According to Hamilton, a stall happens when the prospects raise some type of objection because they want to hide the real reason for making a decision at that time. These are comments from the client, such as,”We’d like more time to think about it,” or “We’ll call you later to discuss it.” Ultimately, it is your client’s decision whether or not to buy or sell. However, it’s your job as their agent to help them make the best decision for them. That could mean not letting them miss out on a great deal just because of a small issue. Hamilton suggests asking close-ended, direct questions to determine what is causing the clients to hesitate. First, agree with the client and then direct them to their final objection by asking minor questions. Once you have that information, you can handle the true reason for the stall.
Read more tips from Hamilton on handling objections in his book, which also offers practical information on the key steps for success for new and experienced agents who want to thrive, not just survive, in a dynamic industry.