Overcome the most common real estate commission objections during listing consultations with these objection handling scripts for real estate agents.
One of the most common objections during a listing consultation is with paying the real estate agent’s commission. We’ve already covered the general script and procedure for a listing consultation appointment. We have also talked about a few other common objections: price, buying a home before selling, and urgency.
In the video below, I demonstrate the way you can handle a client who has objections when it comes to paying you your full commission as their real estate agent. It is essential that you hold the line during this conversation. It will get awkward, and use that to your advantage.
VIDEO: The Listing Consultation: Commission Objection Handling Script for Real Estate Agents
Educate your client if they ask about your commission
Most people don’t understand how commissions work, or why they are in place. It’s important to educate your client on the percentage that is considered your commission, as well as how you will paying out part of it to the buyer’s agent that brings the buyer.
Explain that in order to represent them in the best possible light, it needs to be this way. You can tell your client that 90% or more buyers use a real estate agent. For that reason, you are marketing your client’s house to real estate agents just as much (if not more) than to the future buyers. Explain to your client that for this reason, we want this transaction to be appetizing to the buyer’s agents out there. Objections to paying your real estate agent commission is tough, but sometimes educating your client is all it takes.
This usually will help your client understand why the commission is important. Objections for paying real estate agents a certain commission percentage usually come from your client hearing about an agent that cut someone a deal once. Or maybe they “know an agent” that does it for less. This is when they might ask you the dreaded question …
Can you do it for less?
Your client may bring up that they know an agent that will do it for a lower commission percentage. They may ask you if you are willing to drop your percentage.
Here, you need to keep it simple. “No, I cannot do that.” Instead of explaining why not, you can let the silence do the heavy lifting. It get’s awkward. Your client will likely feel a little tension here, and maybe a bit of guilt for asking the question in the first place. Resist the temptation to end the silence. This is a negotiation and you need to hold your line.
Ignore the feeling that you must explain your commission. Going into detail about where the money goes is only going to make your client feel even more justified in wanting to give you less. If you stay firm, say no, and hold the line with silence, they will cave. This is the best way to get past a commission objection as a real estate agent, and it works without fail.
More to read on similar topics:
- Real Estate Team Leadership Training
- Lead Buyers Agent Job Description
- Download this Free Virtual Listing Presentation Template for Realtors and Up Your Game
- How Realtors Can Get a Contingent Offer to Purchase a Home Accepted for Their Clients
- Realtor Scripts to Get Listings from Current & Past Clients