Today, Brian Meara talks to us about what to do when you encounter an objection and how to turn it around to work in your favor.
By figuring out what the other party wants and why they’re saying no, you’ll be able to fix their problem and in many cases, find your solution.
Mike: Welcome back to the FlipNerd.com REI Classroom where experts from across the real estate investing industry teach you quick lessons to take your business to the next level. And now, let’s meet today’s expert host.
Brian: Hey, everybody, Brian Meara bringing you another episode of REI Classroom and the topic we’re going to talk about today is overcoming objections.
Mike: This REI Classroom real estate lesson is sponsored by UglyOpportunities.com
Brian: Okay, guys. One of the biggest things you’re going to have to do and one of the biggest things you’re going to encounter in the world of real estate investing is objections. And learning how to overcome those objections is going to really determine how much of a success you are at this. What do I mean by that? Well, you’re going to get an objection for everything. You make an offer on a house, it’s too low. You are working with a seller and you’re trying to get them to sign some paperwork that they don’t understand, they’re objecting to the paperwork, they don’t understand. Objections can come in a million different ways, shapes and forms and we’re not going to get into them today.
I want to talk to you about a simple concept that’s not talked about a lot, but it can change everything in your life. This actually, if applied properly, could change every aspect of your life with every relationship meaning even your interpersonal relationships with your family, your spouse etcetera, your children, what have you.
You want to get to the motives. What is the motive? What drives someone to action? When people are generally putting up an objection, know this: that the generally the very first objection that they come up with is never the real one. They have proven, and there have been a million books I’ve read, that the very first objection presented, never forget this, is not a real reason. They’re just putting something out there that they think you’re going to accept or the first thing that comes to their mind.
Now, many different strategies and techniques to talk about getting to the heart of the issue, what’s really their problem. I say don’t worry about that. Worry about what they do want and continue to focus and bring the conversation back around to what their needs are and to what the ultimate goal is for them.
People talk about making an offer on a house and maybe it was probate deal where somebody died or someone’s going in to try and . . . it’s free and clear and they’re trying to just make an offer 60 cents on the dollar. “Why wouldn’t I just sell the house, put it up on the market and get full retail value? Why don’t I just call a realtor?”
You can get into the nitty gritty of getting into all these answers and learning how to overcome this and that, and that’s fine and, in some cases, you should. But I want to remind you one thing and the point of this training is this: get to the heart of what they want. People will decide and they make decisions based on what you’re going to do for them.
The faster that you can identify what it is that drives them to action, for example, when people hold notes, I’m going to give you a recent example, and people sometimes they’ll hold the paper on a mortgage. And there are listings you can buy you could try and buy them from people, and sometimes people are looking to sell them because they have a reason because their daughter is going to college or their daughter’s getting married, or their son is going to college or they had a death in the family, or they want to buy that vacation house.
For whatever reason, they want that money, they need that money. And for you to come in and be able to position yourself so that you’re going to get them what they need, as long as you’re focusing on solving a problem in their life and you become more of a solution provider, the price becomes secondary. I know that’s hard to believe at face value, but the more you do this and the more you practice this, A, the better you become at it and, B, the more you’ll understand how true that really is. Because if you’re a solution provider, if you’re helping someone with a problem or with a scenario in their life and you continue to bring their focus back around to that, again, then money becomes secondary.
You just have to try it, guys. You have to try it yourself and it gets back to age-old adage, if you will, of “Putting others first.” Learn how to really learn what they want because if you help enough people get what they want, a famous man once said, getting what you want will never be a problem. Hope that helps and put it into action.
Mike: HomeVestors, the “We Buy Ugly Houses” folks, is a franchise system of hundreds of real estate investors that have purchased over 65,000 houses. If you’d like to learn more about the most powerful real estate investing system in existence, whether you’re a pro looking to take your business to the next level or whether you have no experience at all, but a burning passion to be successful in real estate investing, please visit FlipNerd.com/ugly to learn more.
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