| What’s a common stumbling block most new investors have? It’s the “fear” of not knowing what to say and how to handle objections from the homeowner. As many of you know the only way to address fear is to go right through it! Go expose yourself to the very thing scares you the most and you’ll overcome it.
After attending the 3 day Lab my Coaching clients all got some serious phone practice with Alexis McGee. As soon as my clients started working with me at home after the Lab, I give them a fun exercise. My goal is to help my clients overcome their fears and start winning the objection game RIGHT AWAY. Once that past that hurdle they are on to their first deal faster! Now here it is:
STEP ONE
Get ready to make at least 200 calls. Your only goal is to get as many objections as possible. The more objections you get the better. Turn yourself into an objection magnet! Then write down the objections you get down, every single one. It’s not about knowing what to say. In fact I encourage you to be honest and tell the homeowner you’re not sure what to say, when you really don’t. You might say something to the homeowner like “you sure have a lot of objections (pause) what else are you concerned about?” Remember you are just trying to gather as many objections as you can. You want to get exposed to all of them as quickly as possible.
STEP TWO
Once you’ve completed gathering objections then start to examine them. You’ll probably notice right away that there are a certain number of common objections that just come up over and over. Now that you’ve identified the most common objections you can start working on how to overcome them. Write out a couple responses to each objection. Here’s an Alexis hint – always try to ask another question to keep the conversation going. Sometimes the easiest thing to do is to just repeat back what you just heard in the form of a question. Start your response to the objection with who, what, when, where, why or how?
Example: The homeowner says when you call “I’ve already taken care of my default.” Your response: “That’s great. (How/ When) did you take care of your default?”  If you get something really off the wall you can always ask for clarification by saying “what do you mean by that?”
Practice breaking down all the objections you get and handling each one as in the example above. When you’re done you should have a couple possible responses to every objection you have on your list.
STEP THREE
Practice your responses to the objections with yourself or with your Coach until you are comfortable with them and they flow easily from you. Get back on the phone and use and what you’ve learned. Always keep pen and paper handy in case someone throws you a curve. Write it down and go through the exercise again. In no time at all you’ll be a pro, just like Alexis. : )
As you can see winning the objection game can be as easy one, two, three. Happy investing! : )
Foreclosures.com Client, Coach and your Friend,
Sarah |
