When it's time to sign buyer agent agreements, encountering objections is a natural part of the process. To navigate these objections effectively, practice is essential. Here are two common objections you might encounter during the transition, along with effective strategies for addressing each. To prepare, partner with a team member and practice handling these objections using the provided role-playing scripts.

In a recent webinar, Real Estate Coach Kristi Jencks provided a series of scripts for handling objections during buyer agreement discussions. To refine your skills, practice these scenarios with a partner or in front of a mirror. This proactive approach will boost your confidence and enhance your effectiveness in addressing objections.

Objection 1: A Lack of Trust

Overcoming objections related to a lack of trust, especially when buyers are eager to see a property but hesitant to sign an agreement, requires a careful balance of empathy, reassurance, and demonstrating value. Here’s a detailed script and strategy to address these concerns:

Scenario: The buyer is hesitant to sign the agreement due to a lack of trust and wants to see the property first.

Script:

You: "It sounds like you’re eager to see the property but have some reservations about signing the agreement first. Is that right?" (Mirroring)

Buyer: "Yes, I just want to see the property without committing to anything."

You: "I understand completely. It’s important to feel comfortable before making any commitments. Can you share more about what specifically concerns you about signing the agreement?" (Calibrated Question)

Buyer: "I just don't know you well enough yet to sign something like this."

You: "That’s totally fair. Building trust takes time. What if we start with a shorter, more flexible agreement? This way, you can see how we work without feeling locked in. How does that sound?" (Offering a Solution)

Buyer: "Maybe, but how short are we talking?"

You: "We can customize the length to what makes you comfortable. We could start with a one-week agreement, just to cover the initial property visits. If you’re happy with how things are going, we can extend it. How does that feel?" (Providing Options)

Buyer: "That sounds better, but I'm still not sure."

You: "I hear you. Trust is important. What if, before you sign, I provide you with references from past clients who were initially hesitant but found great value in our services? Would hearing their experiences help you feel more at ease?" (Reassuring with Social Proof)

Buyer: "Yes, that could help."

You: "Great. I’ll share those references with you. Additionally, we can arrange for you to speak directly with a couple of my recent clients if you prefer. In the meantime, would you be open to signing a very short-term agreement, just for today’s viewing, so you can see the property without any further obligations?" (Combining Reassurance with Immediate Solution)

Buyer: "Alright, let's do that for today."

You: "Perfect. Here’s a simple agreement that just covers today’s viewing. This will give us a chance to start working together and for you to experience our service first-hand. We can revisit a longer-term agreement if you feel comfortable. How does that sound?" (Final Reassurance)

Additional Strategies and Options:

• Short-Term Trial Agreement: Offer a one-day or one-week agreement. This provides a low-commitment way for buyers to experience your service.

• Conditional Agreement: Create an agreement that only becomes binding after a certain number of viewings, giving the buyer a trial period.

• References and Testimonials: Provide references or testimonials from satisfied clients to build credibility and trust.

• Transparency: Clearly explain the benefits of the agreement, such as prioritizing their needs, gaining access to exclusive listings, and having an advocate in negotiations.

• Flexible Cancellation Terms: Offer an easy cancellation policy within the first few days if they’re not satisfied, which can reduce their perceived risk.

• Educational Approach: Educate the buyer on how a broker’s representation can save them time, money, and stress, emphasizing your role in protecting their interests.

Additional Questions to Uncover Concerns:

• "What would help you feel more comfortable about signing this agreement?"

• "Have you had any previous experiences with real estate agents that influenced your hesitation?"

• "What specific aspects of the agreement are you unsure about?"

• "How do you typically decide on service providers in other areas of your life?"

• "What’s the most important thing for you in a real estate agent relationship?"

Objection 2: Paying a Broker’s Fee

By addressing their concerns with empathy, providing clear options, and offering reassurances through social proof and flexible terms, you can build the necessary trust to move forward.

Scenario: The buyer is worried about having to pay the broker’s fee.

Script:

You: "It sounds like the broker fee is a major concern for you. Is that right?" (Mirroring)

Buyer: "Yes, I don't want to pay extra if I don't have to."

You: "That’s completely understandable. Can I ask what specific aspects of the fee worry you the most?" (Calibrated Question)

Buyer: "Just the additional cost on top of everything else."

You: "I hear you. Budgeting for a home purchase can be challenging. Could you tell me more about how this additional cost impacts your overall budget and plans?" (Open-ended Question)

Buyer: "Well, we're already stretching our budget for the down payment and other closing costs, so adding another fee is just too much."

You: "I understand. It sounds like managing your overall budget is crucial for you. What if we could find ways to minimize or offset this fee? Would that help?" (Reframing the Concern)

Buyer: "Maybe. But how would that work?"

You: "Great question. There are a few strategies we can consider. For example, we could negotiate with the seller to cover part or all of the broker fee. Another option might be finding properties where the seller is already offering to pay the buyer’s agent fee. How do these options sound to you?" (Offering Solutions)

Buyer: "That could help, but I'm not sure if sellers would agree to that."

You: "It's a valid point. From my experience, many sellers are open to negotiations, especially in a competitive market where they want to close the deal quickly. Would you feel more comfortable if we prioritized properties where the seller is likely to cover these costs?" (Addressing Feasibility)

Buyer: "Yes, that would definitely make me feel better."

You: "Perfect. Let's make that a priority in our search. Additionally, having a skilled negotiator on your side can often result in better overall terms, which might save you money in other areas as well. Does that sound like a good plan?" (Reinforcing Value)

Buyer: "Yes, that sounds good."

You: "I’m glad to hear that. Let’s work together to find the best property within your budget and ensure we negotiate the best possible terms. If any concerns come up along the way, please feel free to share them with me so we can address them promptly. How does that sound for a way forward?" (Building Trust and Reassurance)

Additional Questions to Ask:

• "How important is it for you to stay within a specific budget for your home purchase?"

• "Have you had any experiences with broker fees in the past that have influenced your concerns?"

• "What would make you feel more comfortable about the value you're receiving for the broker fee?"

• "Are there other aspects of the home buying process where you're looking to save costs that we could explore together?"

• "How do you feel about the potential benefits of having a dedicated broker, such as access to exclusive listings or expert negotiation skills?"

By using these questions and responses, you can better understand the buyer’s concerns, provide tailored solutions, and build a trusting relationship that emphasizes the value you bring to the home buying process.

At Breakthrough Broker, we're dedicated to helping you navigate the evolving real estate environment. Discover essential strategies to highlight your value by visiting Stand Out in the New NAR Landscape: Essential Resources for Success.