Knowing What To Say EVERY Time: ScriptsDec 18, 2019
"If you are not prepared to make your pitch, you may just miss your next big opportunity." - Robert Herjavec
I could write down a dozen other quotes about preparedness, but it all boils down to this: you have to know what to say to buyers and sellers. And... you must practice as long as it takes to learn what those words are until you cannot fail. Below, are some scripts for various buyers situations. I encourage you to adapt small portions of these to your own way of speaking, but do not re-write the entire scripts... 2 reasons: they're proven scripts, and the time taken to re-do these takes away from the time you can be learning them.
The Buyer has a “fear of the future” and is concerned that property values will continue to go down.
"We are really worried that the property’s value will go down and we’ll lose money."
Agent: [Insert Buyer’s name], I understand. Other than property values possibly going down, is there any other reason you wouldn’t buy today?
Buyer: No, that’s what I’m afraid of.
Agent: Let me ask you, how many years do you plan on living in this home?
Buyer: [Buyer will answer].
Agent: Terrific! And when do you feel you would lose money? Isn’t it when you sold the home?
Agent: Let’s go back and look at the recession cycles. Other than the Great Depression no recession has ever lasted more than 16 months and, historically, nationwide average home prices have always gone
up. So let me ask you, are you willing to have someone else living in this house tomorrow knowing you could own it today?
Buyer: Well, we do like the house.
Agent: Great, let’s buy it.
Buyer: We’re still concerned about losing money.
Agent: Just out of curiosity do you enjoy paying rent and helping someone else earn equity?
Agent: Well whether you buy this home or not, you will still have to pay money to live somewhere, correct?
Agent: As long as you’re paying to live somewhere, don’t you think you deserve to have the tax advantages and build equity for yourself by owning your own home today?
Agent: Let’s get started today on building your equity. Go ahead and sign the contract and let’s buy this home. OK?
Agent: [Insert Buyer’s name], I’m curious, what makes you feel prices are coming down?
Buyer: That’s what I’ve heard and I’ve seen price reduction signs on homes everywhere.
Agent: I agree. Now let me ask you what has been happening to interest rates over the past few months, have they gone up or down?
Buyer: They have been going up.
Agent: Right. Well looking at this mortgage calculation graph you’ll see that a $500,000 loan at today’s interest rate of 3.8% would be $2,330 a month, and when interest rates take another jump to 4.8% it would be $2,623 a month which means that you would pay $297 more per month. So the price of
the home would actually have to come down $55,000 to have the same payment as today. Do you think that we should hold off on buying in hopes that prices will drop that far before the mortgage rates go up? Or
should we make an offer based on the reality of today?
Buyer: Let’s go with reality and make the offer.
Situation: The Buyers sees the market shift and believes that he has all the time in the world to look and buy.
Buyer’s Objection: There really is no rush; there are a lot of houses on the market.
Agent: [Insert Buyer’s name], you’re correct; there are many homes on the market. Let me ask you how many homes are in great shape and would be a home your family would love and enjoy?
Buyer: I don’t know. I would assume many of them
Agent: You know, as a buyer specialist I look at homes every day and there are many homes that look great on the outside and need a lot of work on the inside. Are you willing to pay thousands of dollars to fix up a home?
Buyer: No, not really.
Agent: Then we only want to look at the great homes that you’ll enjoy, correct?
Agent: Buyers are looking at homes every day and when you look, you shop by comparisons correct?
Agent: Well when a buyer finds a home that fits their needs and it is in great shape, they usually react quickly and buy the home taking it off the market and leaving what’s left. Do you want someone else’s leftovers or do you want to choose the home that you and your family will enjoy?
Buyer: I don’t want someone’s leftovers.
Agent: Great. Then we need to look now and buy a great home. Don’t you agree?
Do you get the idea here? Reading these scripts and saying them out loud will imprint on your memory, the concepts you need to overcome objections, and there will be objections. Don't let those sway you though. Objections that are overcome are called SALES.
For a comprehensive set of scripts, consider joining the Dollar Coaching Club. At $20/month, it is the soundest investment in your career you can make.