
Picture this: You’re on a call with a potential seller, and suddenly, they hit you with an objection that stops you in your tracks. Sound familiar?
In real estate wholesaling, objections are like unexpected turns on your path to success. But what if these ‘obstacles’ could be your most valuable tool?
These objections are golden opportunities disguised as hesitations. They’re the seller’s way of saying, ‘Convince me.’ Whether you’re cold calling or closing a deal, mastering objection handling can significantly increase your success rate.
That’s why this list of the top 15 seller objections you’ll encounter is so crucial.
You’re not just identifying problems – you’re gaining powerful solutions.
In the following sections, you’ll learn about the psychology behind each objection and discover proven strategies to turn hesitations into agreements.
Understanding Objections: More Than Just Words
Before we dive into specific objections, let’s talk about something crucial: objections come in many forms. They’re not always phrased as clear-cut objections. Sometimes, they’re disguised as demands, statements of intent, or even casual remarks.
The key is to recognize these for what they really are – different ways people use to stall or avoid talking. Your mission? Uncover the true objection hiding beneath the surface.
It’s like being a detective, but instead of solving crimes, you’re solving seller hesitations.
Now, let’s tackle our first objection.
Objection #1: “I’ll talk to you when you bring me a buyer.”
Ever heard this one before? This isn’t just an objection; it’s a demand wrapped in an avoidance tactic. But don’t worry, I’ve got some strategies to help you navigate this tricky situation.
What’s Really Going On?
When a seller says this, they’re often:
- – Viewing you as a “middle person,” not a buyer
- – Showing they know a bit about wholesaling
- – Wanting proof of your value
- – Fearing they’ll waste time and give information only to be told you can’t help
Consider: Wouldn’t you be hesitant to share details about your property with someone who might not even have a buyer lined up?
Your Approach
So, how do you handle this? The key is to get to their true motivations through questions. Here are a couple of approaches you could try:
- “Do you have a backup plan if a buyer doesn’t appear, especially before viewing the property?”
- “Have you told others the same thing, and have you had many prospective buyers?”
These questions serve two purposes: they show you’re thinking about their interests, and they help you understand their situation better.
Questions for Sellers
Now, here’s where you get to flex your creative muscles. What questions could you come up with to uncover the seller’s true motivations; show that you’re there to help, not just to make a quick buck.
For example, you might ask:
- – “What’s your ideal timeline for selling this property?”
- – “What concerns do you have about the selling process?”
Learning Opportunity
Every objection is a chance to learn and improve. If you hear this objection often, it might be a sign that you need to adjust your initial approach. Are you clearly communicating your value to potential sellers?
By viewing each interaction as a learning opportunity, you’ll continually refine your skills and become more effective at handling objections.
What’s your experience with this objection? Have you found any particularly effective ways to address it? Keep track of what works and what doesn’t.
Objection #2: “I’ve decided to sell it on my own.”
You might hear a seller confidently declare they’re going the DIY route. It’s becoming increasingly common, thanks to the internet and sites like Zillow.
Many sellers believe they can save a bundle by avoiding agent commissions. And let’s face it, in some cases, those savings could mean the difference between walking away with cash or having to bring money to the closing table.
What’s Behind This Objection?
When a seller says they’re selling on their own, they’re often:
- – Trying to maximize their profits
- – Feeling confident in their ability to handle the sale
- – Wanting to avoid real estate commissions
- – Possibly unaware of the complexities involved in selling a home
Your Approach
So how do you approach this situation? Here’s a strategy you might find effective:
- Start by acknowledging their decision: “I understand you’re looking to sell on your own. Many sellers consider this option.”
- Then, ask a probing question: “Is avoiding real estate commissions one of the reasons you’re considering this approach?”
- If they say yes (which is likely), you’ve got an opening. Here’s where you can explain your role:
- “I completely understand wanting to avoid commissions. That’s actually one of the benefits of working with a company like mine. There are no commissions involved in our process. While I do resell the home, you’ll avoid some of the closing costs and real estate commissions you’d see on a typical closing statement.”
Questions for Sellers
Now, put yourself in the seller’s shoes. What other concerns might they have about selling on their own? How could you address these? For example:
- – “Have you considered the time investment required to market and show the property?”
- – “What’s your plan for handling the legal paperwork involved in a home sale?”
Ultimately, your goal is to show how your services can solve their problems, not just to make a sale.
Learning Opportunity
This objection offers a great chance to educate sellers about how your business works. Many people aren’t familiar with it, so this could be your moment to have a teaching moment.
Keep track of how sellers respond to your explanation. Do they seem relieved to hear about an alternative to traditional selling? Or do they need more convincing? Use these insights to refine your pitch over time.
Objection #3: “I’m waiting for the market to improve.”
Ah, the waiting game. It’s a common strategy, but is it always the best one? This objection pops up frequently, especially among certain types of sellers. Let’s break it down.
Who’s Likely to Use This Objection?
You’ll often hear this from two types of sellers:
- High equity sellers: They’re looking to maximize their profits and believe waiting will lead to a higher sale price.
- Low equity sellers: They might be underwater on their mortgage or unable to cover closing costs and commissions.
Interestingly, you’re less likely to hear this from highly motivated sellers in financial trouble. They usually can’t afford to wait.
Understanding the Seller’s Perspective
When a seller says they’re waiting for the market to improve, they might be:
- – Hoping for higher property values
- – Unsure about current market conditions
- – Avoiding making a decision
- – Unaware of the costs associated with holding onto the property
Your Approach
Your approach should vary based on the type of seller you’re dealing with. Here’s how you might handle each:
For Low Equity Sellers:
“I understand you’re waiting for the market to improve. Have you considered the costs of holding onto the property in the meantime? One advantage of working with us is that we can bring you an offer that doesn’t involve some closing costs or real estate commissions. This could potentially put more money in your pocket now rather than later.”
For High Equity Sellers:
“I hear you’re waiting for the market to improve. That’s a common strategy. Out of curiosity, what’s the rock-bottom price you’d consider selling for today? This could help me understand if there might be an opportunity for us to work together sooner rather than later.”
Questions for Sellers
What other questions you could ask to uncover the seller’s true motivations?
- – “What market conditions are you hoping to see before you sell?”
- – “Have you calculated the costs of holding onto the property while waiting?”
- – “What would it mean for you if you could sell the property sooner rather than later?”
Learning Opportunity
This objection gives you a chance to educate sellers about current market conditions and the costs of waiting. It’s also an opportunity to demonstrate your expertise and the value you bring to the table.
Keep track of how different types of sellers respond to your approaches. Do low equity sellers respond better to discussions about avoiding costs? Do high equity sellers open up when asked about their bottom line? Use these insights to refine your strategy over time.
Objection #4: “I’m going to file bankruptcy instead.”
When you hear this, you’re likely dealing with someone in financial distress. They might be behind on mortgage payments, have received a notice of default, or be struggling with medical costs or other emergency financial problems.
Understanding the Seller’s Perspective
When a seller mentions bankruptcy, they might be:
- – Feeling overwhelmed by their financial situation
- – Viewing bankruptcy as a quick solution to their problems
- – Unaware of other options available to them
- – Trying to avoid dealing with the complexities of selling their home
Your Approach
Here’s how you might approach this situation:
- Start with a question: “Can you tell me why you consider bankruptcy a better path?”
- Listen carefully to their response. They might say it’s faster or easier.
- Counter with your value proposition: “I understand you’re looking for a quick solution. Did you know that I can often produce a buyer quickly and close within a very short period for cash, without real estate commissions? Plus, selling to me won’t have the same adverse impact on your credit that bankruptcy would.”
Questions for Sellers
Consider other aspects of bankruptcy that might concern the seller:
- – “Have you considered how bankruptcy might affect your future ability to buy a home?”
- – “Are you aware of the long-term implications of bankruptcy on your credit score?”
Your goal is to present selling to you as a viable alternative to bankruptcy.
Learning Opportunity
This objection gives you a chance to educate sellers about the pros and cons of bankruptcy versus selling their home. It’s an opportunity to position yourself as a problem-solver who can offer a faster, less damaging solution to their financial troubles.
Objection #5: “I’m just going to let the bank foreclose.”
This objection often comes from sellers who are either tired of trying to sell or fearful about the process of selling before the bank takes action.
Understanding the Seller’s Perspective
When a seller mentions letting the bank foreclose, they might be:
- – Feeling defeated or overwhelmed
- – Unaware of the consequences of foreclosure
- – Thinking foreclosure is an easy way out
- – Unsure about their options or rights
Your Approach
Here’s a strategy you might find effective:
- Start with a probing question: “Have you had a chance to study the foreclosure process and understand what you could owe in income taxes, fees to the bank, or other costs?”
- Provide information: “Many people don’t realize that foreclosures can often lead to bankruptcies months down the line. There can be significant financial implications.”
- Offer your solution: “I can bring a cash buyer to quickly close on your home, allowing you to move on without the long-term consequences of foreclosure. Would you like to hear more about how this process works?”
Questions for Sellers
Consider what other concerns a seller facing foreclosure might have:
- – “What’s your timeline before the bank takes action?”
- – “Have you considered how foreclosure might affect your future housing options?”
Learning Opportunity
For both of these objections, you’re dealing with sellers in potentially stressful situations. Approach with empathy, provide clear information, and focus on how you can help solve their problems. Keep track of which approaches work best – this will help you refine your strategies over time.
Objection #6: “We’re going to list again with an agent.”
That word “again” is key here. It tells you they’ve been down this road before, possibly more than once. These sellers might be empty nesters, high equity owners, or perhaps they own the home as a rental. In many cases, they’re hoping to squeeze out a bit more money from the sale.
Understanding the Seller’s Perspective
When a seller says they’re going to list again, they might be:
- – Disappointed with previous selling attempts
- – Hoping for a higher sale price this time around
- – Unaware of alternatives to traditional listing
- – Feeling that an agent gives them the best chance of selling
Your Approach
Here’s a strategy you might find effective:
- Start with a probing question: “I’m curious, what do you think prevented the sale in your previous attempts?”
- Listen carefully to their response. This gives you valuable insight into their situation and expectations.
- Then, offer your perspective: “I understand you’re looking to maximize your return. Have you considered that by avoiding brokerage commissions, you might be able to achieve the same or nearly the same net result? I can bring you offers directly, potentially saving you time and money in the process.”
Questions for Sellers
What are other questions you could ask to understand their situation better?
- – “What would you do differently this time around with an agent?”
- – “Have you calculated the total cost of listing, including time on market and carrying costs?”
Your goal is to present your service as a viable, potentially more profitable alternative to listing with an agent.
Learning Opportunity
This objection gives you a chance to educate sellers about the costs associated with traditional listings and how your service can provide a more efficient solution. It’s an opportunity to highlight the unique benefits of working with a wholesaler.
Objection #7: “I’m going to rent it out.”
The motivation behind this objection can vary greatly depending on the seller’s financial situation. For distressed or low equity sellers, they might not fully understand the challenges of being a landlord. For high equity or empty nesters, they might be considering it as an investment opportunity.
Understanding the Seller’s Perspective
When a seller says they’re going to rent out their property, they might be:
- – Looking for a way to generate income from the property
- – Avoiding making a decision to sell
- – Unaware of the responsibilities and costs of being a landlord
- – Hoping the market will improve while they rent it out
Your Approach
Your approach should vary based on the type of seller:
For distressed or low equity sellers:
“Have you had a chance to research the local rental market? I’d be happy to share some insights I’ve gathered about average rents, vacancy rates, and typical landlord expenses in this area. Many people underestimate the costs and challenges involved in renting out a property.”
For high equity or empty nesters:
“It’s great that you’re considering your options. As part of my business, I regularly research local rental markets. Would you be interested in hearing some of the numbers I’ve found for properties similar to yours? It might help you make a more informed decision.”
Questions for Sellers
Consider what other questions you could ask to uncover the seller’s true motivations:
- – “What appeals to you most about becoming a landlord?”
- – “Have you factored in costs like maintenance, property management, and potential vacancies?”
- – “How does the potential rental income compare to what you might net from selling the property?”
Learning Opportunity
This objection provides a great chance to demonstrate your market knowledge. Whether the seller decides to rent or sell, you can position yourself as a valuable resource of information.
Keep track of how different types of sellers respond to your insights about the rental market. Do distressed sellers reconsider when they learn about the challenges of being a landlord? Do high equity sellers appreciate your market knowledge? Use these insights to refine your approach over time.
Objection #8: “I’m going to find someone to buy it and rent it back to me.”
This objection often comes from sellers who are facing financial difficulties but are reluctant to leave their homes. It’s a creative solution they’ve come up with to address their financial issues while maintaining their living situation.
Understanding the seller’s Perspective
When a seller suggests this rent-back arrangement, they might be:
- – Emotionally attached to their home and reluctant to move
- – Struggling with mortgage payments but hoping to stay in the property
- – Unaware of the complexities and potential pitfalls of such arrangements
- – Hoping to buy time to improve their financial situation
- – Concerned about finding alternative housing in their price range
Your Approach
Here’s a strategy to address this objection effectively:
- Start with empathy: “I understand you’re looking for a way to stay in your home. It’s a creative solution you’ve come up with.”
- Offer to review the numbers: “Let’s look at this from a financial perspective. I have some data on local rental rates that might be helpful.”
- Explain potential challenges: “These arrangements can be complex. Let’s discuss some factors you might not have considered, like the new owner’s mortgage requirements or potential tax implications.”
- Present alternatives: “I may be able to help you find a solution that addresses your financial concerns while giving you more control over your living situation. Would you be open to exploring some options?”
Questions for Sellers
Consider asking these questions to better understand the seller’s situation and guide the conversation:
- – “What’s driving your desire to stay in this particular home?”
- – “Have you calculated what your monthly rent might be compared to your current mortgage payment?”
- – “How long do you ideally see yourself staying in this home?”
- – “Have you considered the potential challenges of becoming a tenant in a home you once owned?”
- – “Have you calculated what your monthly rent might be compared to your current mortgage payment?”
Learning Opportunity
This objection provides a chance to educate sellers about the realities of the real estate market and rental arrangements.
Keep track of how sellers respond to the data you provide about local rental rates. Do they seem surprised by the potential costs?
How do they react when you explain the complexities of rent-back arrangements?
Use these insights to refine your approach and potentially develop resources (like a rent vs. sell calculator) that can help future sellers in similar situations.
Objection #9: “My lender won’t let me.”
This objection often stems from a misunderstanding of the selling process or confusion about the terms of their mortgage. It’s a common misconception that can prevent sellers from exploring viable options.
Understanding the Seller’s Perspective
When a seller says their lender won’t let them sell, they might be:
- – Confused about the terms of their mortgage
- – Dealing with a loan modification or forbearance agreement
- – Afraid of potential penalties for selling
- – Overwhelmed by their financial situation and assuming restrictions
- – Misinterpreting communication from their lender
- – Trying to avoid dealing with their financial challenges
Your Approach
Here’s a strategy to address this objection effectively:
- Seek clarification: “Can you tell me more about what your lender has said specifically?”
- Educate about the process: “In most cases, lenders can’t prevent you from selling if the mortgage will be paid off. Let me explain how our process works.”
- Explain the benefits: “By selling, you can potentially pay off your mortgage and resolve any issues with your lender. This could be a fresh start for you.”
Questions for Sellers
Consider asking these questions to better understand the seller’s situation and guide the conversation:
- – “Are you currently in a loan modification or forbearance agreement?”
- – “What specific concerns do you have about your lender’s reaction to selling?”
- – “Would you be open to reviewing your mortgage documents together to clarify any restrictions?”
Learning Opportunity
This objection provides an excellent chance to educate sellers about their rights and options when it comes to selling their property. It’s an opportunity to position yourself as a knowledgeable resource who can help navigate complex financial situations.
Keep track of the specific lender-related concerns that sellers mention. Are there common misconceptions about certain types of loans or lenders? This information can help you develop resources (like a FAQ sheet about selling with different types of mortgages) that can assist future sellers facing similar concerns.
Objection #10: “Another investor said they would give me money when we close.”
This objection indicates that the seller has been approached by other investors who have offered cash incentives at closing. It’s a tactic some investors use to make their offers more attractive, but it can sometimes be misleading.
Understanding the Seller’s Perspective
When a seller mentions this kind of offer, they might be:
- – Attracted to the idea of extra cash at closing
- – Comparing different offers from multiple investors
- – Unsure about the legitimacy or details of the offer
- – Hoping to negotiate a better deal with you
- – Feeling pressured by aggressive sales tactics from other investors
- – Unaware of potential legal or ethical issues with certain types of cash incentives
Your Approach
Here’s a strategy to address this objection effectively:
- Seek more information: “That’s interesting. Can you tell me more about what they offered and if it’s in writing?”
- Educate about industry practices: “It’s important to understand that legitimate cash incentives should be documented in the closing documents. Let me explain how this typically works.”
- Focus on your value proposition: “While I can’t speak to other offers, I can assure you that my offer will be transparent, documented, and based on a thorough evaluation of your property.”
- Offer a comprehensive evaluation: “Before discussing any additional incentives, I’d like to complete a full evaluation of your property. This ensures any offer I make is fair and based on real data.”
Questions for Sellers
Consider asking these questions to better understand the seller’s situation and guide the conversation:
- – “Have you considered how this cash incentive might affect the overall purchase price?”
- – “What aspects of that offer are most attractive to you?”
- – “Would you be open to comparing the total value of different offers, not just the cash incentives?”
Learning Opportunity
This objection provides an opportunity to educate sellers about ethical business practices in real estate investing and the importance of documented, transparent transactions. It’s a chance to differentiate yourself as a professional who prioritizes clarity and legality in all dealings.
Keep track of the types of incentives other investors are offering. Are there trends in your market? This information can help you stay competitive while maintaining ethical standards.
Consider developing a comparison sheet that helps sellers understand the total value of different types of offers, not just the apparent cash incentives.
Objection #11: “Why should I trust you?”
Ever heard this one before? It’s a common question, and for good reason: trust is currency. This isn’t just an objection; it’s an opportunity to showcase your integrity and expertise.
What’s Really Going On?
Being cautious about selling is natural. When a seller asks why they should trust you, they’re often:
- – Feeling vulnerable about their financial situation
- – Wary of scams or dishonest operators in the real estate market
- – Unsure about the wholesaling process
- – Looking for reassurance and professionalism
- – Testing your response to gauge your credibility
Your Approach
So, how do you handle this? The key is to be transparent, professional, and informative. Here are a couple of approaches you could try:
- “I appreciate you asking that. It’s smart to be cautious. Let me walk you through my process and the data I’ve gathered about your property. I’m an open book.”
- “That’s a great question. I’d be happy to provide references from other sellers I’ve worked with, as well as documentation of my business credentials. What specific concerns do you have?”
These responses serve two purposes: they show you respect their caution, and they open the door for a more detailed conversation about your credibility.
Showing Your Best Side
Now, here’s where you get to flex your problem-solving muscles. What other ways could you demonstrate your trustworthiness? Show that you’re not just after a quick deal, but that you’re a professional looking to create a win-win situation.
For example, you might:
- – Offer to meet in person at a location of their choosing
- – Provide a detailed, written breakdown of your offer and process
- – Share case studies of similar properties you’ve purchased
Learning Opportunity
If you’re hearing this objection often, it might be a sign that you need to adjust how you’re presenting yourself initially. Are you coming across as professional and prepared from the very first contact?
Objection #12: “We are not ready and need to make repairs.”
Yep, the old “fixer-upper” dilemma. This is a common hurdle many sellers think they need to clear before they can even consider selling. But, of course, a house that needs work can be a golden opportunity.
What’s Really Going On?
When a seller says they need to make repairs before selling, they’re often:
- – Believing that repairs will significantly increase their home’s value
- – Worried about turning off potential buyers with the current condition
- – Unaware of the “as-is” market for homes
- – Trying to delay the selling process
- – Emotionally attached to the idea of presenting their home in its best light
Consider: How many times have you started a home improvement project, only to find it takes twice as long and costs three times as much as you expected?
Your Approach
So, how do you handle this? The key is to educate the seller about the benefits of selling as-is. Here are a couple of approaches you could try:
- “I understand you want to present your home in its best light. But did you know there are buyers out there specifically looking for homes they can renovate themselves?”
- “Making repairs can be time-consuming and costly. Have you considered the advantage of selling as-is and letting the new owner handle the updates?”
These responses serve two purposes: they acknowledge the seller’s concern about the home’s condition, and they introduce the idea that repairs aren’t always necessary or beneficial.
Questions for Sellers
Now, here’s where you can get creative. What other ways could you help the seller see the advantages of selling without making repairs? Show how your solution can save them time, money, and stress.
For example, you might:
- – Offer to provide a rough estimate of repair costs vs. the potential increase in sale price
- – Explain how quickly you can close on a home in its current condition
Learning Opportunity
This objection give you a chance to refine your knowledge about the local real estate market. If you’re hearing it often, it might be worth diving deeper into data about how much repairs actually impact sale prices in your area.
Objection #13: “I want my attorney to review all the paperwork.”
Now we’re talking! This objection is music to a professional wholesaler’s ears. Why? Because it shows you’re dealing with a savvy seller who takes this transaction seriously. And that’s exactly the kind of seller you want to work with.
What’s Really Going On?
When a seller mentions bringing in their attorney, they might be:
- – Seeking reassurance about the legality of the transaction
- – Looking for an extra layer of protection
- – Testing your reaction to see if you’re legitimate
- – Trying to slow down the process to buy more time
- – Genuinely concerned about understanding all the legal implications
Understand the seller’s thinking: if you were selling your biggest asset, wouldn’t you want a legal expert in your corner?
Your Approach
So, how do you handle this? With enthusiasm! Here’s how you might respond:
- “That’s a great idea! In fact, I always recommend that sellers have their attorneys review the paperwork. It’s an important step in the process.”
- “Absolutely! I’m more than happy to work with your attorney. Legal clarity is crucial for both of us, and I want you to feel completely comfortable with every aspect of this transaction.”
These responses serve two purposes: they show you’re confident in the legality of your offer, and they position you as a professional who values transparency and due diligence.
Questions for Sellers
First, ask a question of yourself: How else could you demonstrate your willingness to work with the seller’s attorney? The ultimate goal is to show that you’re not just okay with legal review – you welcome it.
For example, you might:
- – Offer to have your own attorney reach out to theirs to explain the process
- – Provide a detailed timeline that includes steps for legal review
Learning Opportunity
When a seller wants their attorney involved, it’s not a roadblock – it’s a chance to prove your professionalism and build even more trust. So next time you hear “I want my attorney to review all the paperwork,” you’re already half-way there; “Perfect! Let’s make it happen.”
Objection #14: “Is this legal?”
This million-dollar objection is a great one. In fact, a seller who asks this shows they’re thinking critically and want to make sure everything’s above board.
What’s Really Going On?
When a seller asks about the legality of your operation, they might be:
- – Unfamiliar with real estate wholesaling
- – Concerned about potential scams or fraud
- – Wanting to ensure they’re not inadvertently breaking any laws
- – Looking for reassurance about the legitimacy of your business
- – Testing your knowledge and professionalism
Something to chew on: if someone offered to buy your house in a way you’ve never heard of before, wouldn’t you want to make sure it’s all legit?
Your Approach
Here’s how you can address this concern head-on:
- “That’s an excellent question, and I’m glad you asked. Yes, our business is completely legal in this state. In fact, I’d be happy to walk you through the legal framework we operate under.”
- “Absolutely, what we do is 100% legal. We work closely with attorneys to ensure we’re compliant with all state and local laws. Is there a specific aspect of the process you’re curious about?”
These responses serve two purposes: they provide a clear answer to their question, and they open the door for a more detailed discussion about your business practices.
Questions to Get Them Talking
Try these on for size:
- – “What aspects of the process are you most concerned about?”
- – “Have you had any experiences that make you question the legality of real estate transactions?”
- – “Would you feel more comfortable if we involved your attorney in reviewing the process?”
If someone’s asking about legality, don’t get defensive. See it as a chance to educate them about your business and the wholesaling industry in general. Maybe you need to create a simple “Wholesaling 101” handout that explains the legal basis of what you do.
The Legality Toolkit
Consider putting together a “Legality Assurance Packet” that includes:
- – A summary of relevant state laws
- – A letter from your attorney confirming your compliance
- – A step-by-step breakdown of your process, highlighting the legal aspects
- – FAQs addressing common legal concerns
Objection #15: “I want a better price for my house.”
Here is the classic “show me the money” moment! This objection is as common as coffee in the morning, especially if your seller has been fielding offers from other investors. But don’t sweat it – this is your chance to shine.
What’s Really Going On?
When a seller says they want a better price, they might be:
- – Comparing your offer to others they’ve received
- – Hoping to negotiate a higher price
- – Emotionally attached to their home and overestimating its value
- – Unaware of current market conditions or their home’s true worth
- – Testing to see if you have wiggle room in your offer
Think about it: wouldn’t you want to make sure you’re getting the best deal possible?
Your Approach
Here’s how you can tackle this objection with confidence:
- “I completely understand wanting to get the best price. Can you tell me about other offers you’ve received? This will help me understand where we stand.”
- “Let’s take a look at how I arrived at this offer. I’ve done extensive research on your property and the local market. Would you like me to walk you through the data?”
These responses serve two purposes: they show you’re open to discussion, and they give you a chance to showcase your thorough approach to valuation.
Questions to Get Them Talking
Try these on for size:
- – “What price do you have in mind, and how did you arrive at that figure?”
- – “Are there specific features of your home that you think justify a higher price?”
- – “How quickly are you looking to sell? Would a faster closing be valuable to you?”
Every Negotiation Is a Roadblock – Until it Isn’t
If someone’s pushing for a higher price, don’t see it as a roadblock. It’s a chance to educate them about the market and demonstrate your expertise. Maybe you need to improve how you present your comparative market analysis or highlight the benefits of a quick, hassle-free sale.
The Value Proposition Toolkit
Consider putting together a “Value Justification Packet” that includes:
- – A detailed comparative market analysis
- – Recent sales data for similar properties in the area
- – A breakdown of potential repair costs
- – A chart showing the time and costs involved in a traditional sale vs. your offer
Justifying your price isn’t about winning an argument. It’s about helping the seller understand the real value of what you’re offering – not just in terms of price, but also convenience, speed, and certainty.
So, next time you hear “I want a better price for my house,” smile and think, “Great! Let me show you why this is already the best deal in town!”
Learning Opportunity
This objection is a goldmine for improving your negotiation skills. Keep track of:
- – Which value points resonate most with sellers
- – How different types of sellers respond to various aspects of your offer
- – What additional services or terms you can offer to increase the perceived value of your offer
By continuously refining your approach, you’ll become more adept at handling price objections and closing deals that work for both you and the seller.
Tips for Improving Your Objection Handling Skills
As this article comes to a close, let’s consider some tips that will compliment your journey towards getting confident with objections:
- Avoid relying too much on scripts. While it’s important to get comfortable with talking to sellers, keep in mind that each seller is unique, and understanding their individual motivations is crucial – don’t let following a script knock you off of your ultimate goal of uncovering motivation.
- Keep a record of objections, approaches, and outcomes to refine your strategies over time.
- When appropriate, use ‘we’ instead of ‘I’ to create a sense of collaboration with the seller.
Key Takeaways
You’ve just equipped yourself with a powerful arsenal to tackle the 15 most common objections in real estate wholesaling. From “I’ll talk to you when you bring me a buyer” to “I want a better price for my house,” you’ve now got strategies to handle it all.
Throughout this guide, we’ve done more than just list objections. For each one, we’ve uncovered the seller’s hidden motivations, provided tailored approaches, and even suggested specific questions to ask to address those fears and objections. We’ve shared real-world examples, practical tips, and ideas for creating your own ‘objection toolkits’. Whether you’re a seasoned pro or just starting out, you’ll find actionable strategies.
From dealing with trust issues to navigating price negotiations, this article was packed with insights. Mastering these objections isn’t just about closing more deals – it’s about becoming the kind of wholesaler sellers trust and want to work with. Before you know it, you’ll be turning skeptical sellers into satisfied clients, one objection at a time.
About REI/kit
REI/kit’s cloud-based real estate wholesaling and investing software has cold call tools and virtual phone numbers that are completely integrated with all of these other tools included in the suite:
CRM, motivated seller lead lists, SMS, email, and postcard automated campaigns, lead capture websites, robust analysis tools, and detailed property reports.
Sign up for a risk-free trial, and start smashing those objections today — click this link to see the entire list of features and benefits: www.reikit.com/pricing