Say goodbye to commission objections and hello to signed listings!
This guide is not going to tell you to cut your commission: it’s going to give you fresh ideas for handling commission objections and gaining a competitive edge over the other agents marketing to the same prospective clients – even the ones who are willing to engage in a downward commission race.
Now, let’s dive in.
Table of Contents
1) Address “It’s Just a Payday!” Commission Objections Head-On.
Problem: Sellers often believe agents are just chasing a commission.
Solution: Address it head-on, even if a seller doesn’t express the concern out loud. Let your clients know that you’re not just in it for the commission; you’re here to help them maximize their equity and get the best results possible.
Commission Objections Role Play 1:
Seller: “I’ve heard from my attorney that all agents care about is getting a listing so they can collect commissions.”
Agent: “Hey, I get where you’re coming from. Some agents just list the house and wait. But here’s the thing – my main goal is to make sure you come out of this with the best outcome for you. Whether it’s through a traditional listing or alternative strategies where you don’t even pay me a commission, my goal is to maximize your equity and exceed your expectations. Let me share with you what I mean.”
Insights:
Commission objections are often part misunderstanding, part experience. There are sellers out there who have worked with an agent who was chasing a commission. – validate that reality while underscoring your purpose and value.
How This Sets You Apart From Other Agents:
The subtle mention of alternatives to traditional listings creates curiosity and lets the seller read between the lines that you’re different from other agents. At the same time, you’re letting them know there are ways to sell a home that might not even involve a commission cut at all. By addressing commission objections proactively, you set yourself apart as a trusted advisor who genuinely cares about your clients’ next steps.
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2) Embrace Big-Picture Financial Goals
Problem: A seller might have a number in mind, and there’s always a reason behind that number. Unfortunately, most agents also limit the financial discussion to the equity in the sale and aren’t aware or empathetic to the seller’s big-picture financial goals. This leads the seller to view the commission as a setback.
Solution: Let’s disrupt their conventional thinking that equates commission with a loss of equity and explore their big-picture goals. Consider offering an introduction to a financial advisor or a Registered Investment Advisor (RIA). This will shift the focus towards building and safeguarding wealth, redirecting attention from the misconception that you’re simply taking a cut of their equity.
Commission Objections Role Play 2:
Seller: “I want to make _____________ from this sale so how much do I have to pay you?”
Agent: “I’m here to help you find the best way to get your number, so thank you for sharing it with me. If you’re open to it, I can introduce you to a financial advisor who can support you on your financial journey long after the sale of this house. But first, could you tell me more about your goals for selling?
Insights:
Many sellers may not fully appreciate the importance of post-sale financial planning or understand how it can impact their long-term financial well-being. By offering an introduction to a colleague in the financial field, you provide rare value and support while transforming their apprehension about commission into optimism about their financial future. Additionally, collaborating with a financial planner or Registered Investment Advisor might bring reciprocal referrals your way.
How This Sets You Apart From Other Agents:
Most agents overlook their clients’ long-term financial goals in their marketing and conversations. By embracing the bigger picture, you automatically distinguish yourself. This approach also strengthens relationships with financial professionals, paving the way for future referrals and partnerships.
3) Leverage Vendor Services and Project Management to Show How You Are The Best Value
Problem: Sellers might not be aware of all the work that goes into making a house sell for top dollar. Additionally, they may have concerns about upfront costs and the time it takes to get the house ready for sale.
Solution: In addressing these concerns, you’ll prove the value of your commission. The goal is to emphasize the comprehensive support and benefits your services provide. Highlight the value of hiring you as a one-stop shop to streamline project management, mitigate upfront costs, and maximize the property’s market value.
Commission Objections Role Play 3:
Seller: “I’m worried about all the work and costs involved in getting my house ready for sale. I didn’t know I needed to do all this to sell for the price I wanted. Would you consider lowering your commission?”
Agent: “I understand. I simplify the process by managing everything through trusted vendors, minimizing costs, and also coordinating pay-at-close options. I’ll show you what the timeline for selling at full retail value would look like, and for the most part, I’ll be the one in charge of making it happen with the help of my vendor network. We can also explore alternatives, such as selling your house in its current condition to investors who are willing to take on the renovation work themselves. This way, you can bypass the hassle of preparing the property for sale while still getting a fair price. Let’s find the best solution for you.”
Insights:
This conversation has numerous benefits: you’re educating sellers, setting expectations, and highlighting that you’re here to help with cost mitigation. Not only are you demonstrating flexibility in your approach, but you’re also demonstrating why your commission is a no-brainer.
How This Sets You Apart From Other Agents:
Unlike agents who may overlook the challenges of preparing a house for sale, you address it head-on with a readiness to do your part. People will appreciate the transparency. Also, once a seller starts thinking about how they might need to find a landscaper or driveway paving company, they’ll realize working with you is a priceless convenience.
4) Leveraging Belongings and Other Opportunities to Offset Commission
Problem: Sellers who want to list may have ancillary concerns about cash availability. They may be concerned about the totality of upfront costs and commissions.
Solution: To address this, propose leveraging the seller’s belongings or other assets as part of the sales process to offset commission costs and streamline tasks.
Commission Objections Role Play 4:
Seller: “I want to get the house sold and stop paying the bills for it, but there’s so much stuff in it. I don’t have the cash to hire someone or the time to do it myself.”
Agent: “Is there something you don’t want to deal with that I could help you sell? You can put the proceeds towards costs, and we’d be able to get the job done.”
Insight:
This approach addresses the seller’s concerns about the upfront money and time investment they don’t want to take on themselves. By tapping into untapped resources within the property, you’re helping the seller identify opportunities to make some cash or save on other expenses.
What Sets You Apart From Other Agents:
If a prospective seller has another agent in mind that will “save” them money, 9 times out of 10 it’s because the agent is willing to cut their commission. By highlighting opportunities to make extra cash or save on unforeseen expenses, you’re demonstrating that you’re the best value in terms of money, peace of mind, and creative thinking.
5) Leverage the EZ Real Estate Offer Platform to Counter Commission Objections Completely
Problem: Traditional real estate transactions often lead sellers to question commission rates or consider alternative options where they wouldn’t have to pay a commission at all.
Solution: Introduce sellers to EZ Real Estate Offer, a simple platform agents are using to get more listings signed and closed. EZ Real Estate Offer provides a unique blend of online convenience and traditional real estate processes, offering sellers more control, transparency, and flexibility in selling their homes.
Commission Objections Role Play 5:
Seller: “Can you lower your commission?”
Agent: “Well, I might be able to sell your home for as little as 0% listing commission and get more interest in your house than traditional methods. Let me explain to you how the EZ Real Estate Offer platform works. What’s a good time for me to stop by and show you?”
Insights:
EZ Real Estate Offer is a way to take commission objections out of the picture entirely. Most listings on the EZ Platform close above asking, so agents are making more money than they are listing the traditional way. Give yourself the ultimate edge against commission objections and start using EZ Real Estate Offer today.
What Sets You Apart From Other Agents:
Introducing sellers to EZ Real Estate Offer showcases your commitment to staying ahead of the curve in the real estate industry. By offering modern solutions like this platform, you demonstrate your dedication to providing clients with the best options for their needs, setting yourself apart as a forward-thinking and proactive agent. You could even be the go-to agent in your market for consumers who want to use the platform and need access through an agent.
“We would not have gotten the listing had we not had the EZ Platform as an option”
Hear what agents using the EZ Offer Platform have to say or explore the EZ Real Estate Offer membership here.
These 5 commission objections are opportunities for you to give yourself a competitive edge over other agents. Go out there and put them into practice!
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The EZ Lead Gen Pack
Jam-Packed with prospecting materials for FSBOs, Expires, and General Farming, including:
- Scripts
- Letter Templates
- Objection Busters
