Objections!
This page is where we will post responses to objections. Our job is to learn responses to every objection and rebuttal. We will collectively grow this page together. New objections will be added weekly. Please be sure to memorize and practice all these objections. If you find a new and better response we will update it. Good luck Heavyweights?
Remember to always follow all objections and or questions with a quesiton. The person asking questions is the person controlling the conversation. Never lose control of a conversation with a seller!
What’s your offer?
Well in order to make you an offer we actually close on, I need to get some details about the property, like its condition and make up.
(If they persist)
I don’t want us to make you a promise we couldn’t keep, and not knowing exactly what’s going on on the inside of the property makes it impossible to make you an offer first. If that makes sense.
What does your company do with these houses?
We buy properties like yours and fix them up into HGTV condition and then either sell them or rent them out.
I have to talk to my spouse
I completely understand that, is selling your house something you have already discussed?
What was that discussion like?
Well if you have already discussed it, do you think she will feel relieved if you got it done?
Let me think about it.
I understand you wanting to think about it. When is a good time for us to connect again?
(Set the appointment for the next few days, then ask)
Just so I’ll know what questions to answer when we talk, what was it you were wanting to think about?
If they won't say then ask
Is it the price, timeline?
I don’t want to give you a price
Well do you have a ball park?
(Still won't give price)
When you decided you wanted to sell what was the number you had in mind?
(Still won't give price)
If you’re asking me how much I’d like to pay, I mean I’d love to pay 100 dollars for a property like in the 1800’s, but obviously that’s not gonna happen. (Laugh) So how much will you need for us to move forward if your house does qualify for a cash offer?
(Still won't give price then book the appointment as long as they have motivation to sell)
Why can’t you give me an offer now
Great question, my role is to collect data for our underwriting team to make a decision on what properties they will buy this month. If your property qualifies, we will get this done for you as fast and smooth as any transaction you’ve ever had.
I’m not going to let you low ball me
The last thing we want to do is low ball our clients. Our job is to create a win for you and a win for us. If it doesn’t make sense for either one of us there is no reason to move forward.
How long will it take to get my money
The great thing about working with us is we pay cash so there is no approval from banks or appraisals. How soon did you want to close?
Why does my spouse have to be on the call
Because they will need to sign the paperwork at the close, for that reason we like to have you both on the call if that makes sense.
“How did you get my number?”
SAY: We just bought a property in your area, so we just used the internet to get the phone numbers of the neighbors. I hope that’s not too much of a bother… but are you in fact interested in an offer on your home?
“Where did you buy a house in my area” or “Where is my number on the internet?”
SAY: Oh my boss is actually in charge of that, he just asked me to give you a call, but do you have any interest in an offer on your home?
If the Seller is NOT interested
SAY: What if we presented an all cash offer that you liked…would you consider selling at this time?
If Seller is STILL NOT interested,
SAY: Ok, I understand, would you happen to know anyone that is interested in selling? We can close quickly in 14 days or less. We just paid $1,000 for a referral fee.
I don't want to give you my mortgage
Well that information will help us to give you more options when it comes to making you an offer. My job is to be your advocate and get you what you need. If that makes sense?
Acquisitions Objections
No matter how well we follow the Acquisition Process, we will always encounter objections from sellers. Objections can come before we make our offer, but the majority of objections come after the offer is made.
There is no need to fear objections from sellers. In fact, we should anticipate and lean into the objections whenever we get them. If we do our job properly throughout the Acquisition Process, we should be well-equipped to smoothly handle most objections at the end of the call.
Relationship / Other Decision Maker
Objection - I need to talk to (family member, spouse, friend).Answers
Are they available to hop on the call right now? That way, I can answer any of their questions and explain how the process works.In my experience, more often than not, most of the couples I speak with have spoken about selling the property before speaking to someone like me.When you spoke to them in the past, what did that conversation sound like?When you speak to them, what do you think they will say?
Let me ask you, what do you think (your wife/husband) would say if they came home and you told them, “We sold the house and are putting $139,000 into the bank account”?What time can we schedule a call where all three of us can hop on? That way, I can be available to answer any questions he/she may have.What are you going to do if they say no?
Objection - I want to talk to my tenant first.Answers
Is your tenant aware that you want to sell the house?Are you talking to them to let them know you will sell it?When you talk to your tenant, is there anything they could tell you that would change your mind about selling the property?
Uncertainty/Risk
Objection - I need to think about it/ I’ll get back to you.Answers
When you say you need to think about it, what do you mean?Can I ask you a question? Is there anything about the offer that you did not like?I had a mentor tell me once, “We usually don't need more time to make a decision; we usually need more information.” What haven't we talked about that I can do a better job explaining for you?I completely understand; it's not every day you sell a house. It's a big decision. Can I ask you, ultimately, what is it that you are uncertain about?
Objection - How do I know this isn’t a scam?Answers
Can I ask you a question? How do you think we could possibly scam you? (You want to disprove any response they give you.)I can understand your concern. What would you like to see to confirm that we are not a scam?
Objection - I don’t have another place to go if I sell.Answer
I completely understand; we get that a lot. And the great thing about our company is that we have a lot of homeowners who work with us who are in your exact situation. We can definitely accommodate a longer closing timeline to give you time to find another place, and we can even help you with the process of finding another place if you need help.
Let me ask you, though, is this a property you are really interested in selling?
Objection - How can you make an offer without seeing the property?Answer
We have bought and sold so many houses by now that we have a really good understanding of what houses sell for in the area and also what renovations we would need to put into a property based on the general condition of it.
Price/ Value
Objection - The offer is too low, and I need more for the house.Answer
I completely understand (Seller). This is what the underwriter approved me to offer. The good news is that I’m on your side and will go back to the underwriter to see if I can get you closer to what you need. With that being said, where would we need to be for you to feel comfortable moving forward?
Is that the best you think you can do so I can let the underwriter know?
If I am able to get them to come up to that number, are you ready to move forward today?
Objection - Zillow/ The Tax Assessment says my house is worth (x) amount.Answer
I’m going to assume that a Zillow representative (or Tax Assessor) has not been in your house recently. Is that correct? The reason why I ask is because Zillow and the Tax Assessor's values are really assuming that the property does not need any work and that it is fully renovated. That number is what they are assuming the property could sell for if it were fully renovated.
Competition
Objection - Another investor offered me $(xx) for the property.Answer
Can I ask what caused you to not move forward with their offer then?
Objection - I’ve got someone else coming to look at it. I’m going to see what they have to offer.Answer
Okay, I’m just curious, was there anything you did not like about our offer?If they don’t like the price - I completely understand (Seller). This is what the underwriter approved me to offer. The good news is that I’m on your side and will go back to the underwriter to see if I can get you closer to what you need. With that being said, where would we need to be at for you to feel comfortable moving forward?
Is that the best you think you can do so I can let the underwriter know?
If I am able to get them to come up to that number, are you ready to move forward today?
If they still want to see what someone else can offer - I completely understand that you want to explore your options. Just to let you know, the offer I gave you does expire after 48 hours. The reason is that I am scheduled to look at eight other houses to buy this week, and we cannot buy all of them. We have the funds available for your property today, but if we wait, I cannot promise you that the offer will still be available.
Objection - I think I’m going to list it with a realtor. Answer
That is definitely an option. If you go that route, it will likely take you 60-90 days at best to close. And then you’ve got the closing costs, commissions, renovations, and the risk that a buyer’s financing might fall through. You mentioned earlier that you did not want to deal with any of those things. Now is there anything other than the price that you did not like about our offer?Where would we need to be price-wise in order to make this work for you?
Objection - I think I’m just going to keep renting the property.Answers
Okay, I’m just curious, what’s made you change your mind about selling and making you want to rent it out instead?Is that really what you want to do? The reason why I ask is because earlier, you mentioned that you were tired of dealing with the property and the tenants.
The Contract
Objection - I need to have my attorney look over the contract.Answer
I totally understand. Let me ask, though, is there anything about the contract you aren’t certain about after reviewing it yourself?If they still want to have the attorney review it - Not a problem; I can actually make it super easy for you and send it over to them. What is their email address?
Objection - Why is there so little Earnest Money?Answer
This is just our standard amount since we purchase several properties per month and do cash transactions on all of our properties.
Objection - Why is the Due Diligence Period so long?Answer
That’s just the standard length we use to allow time for our contractors and partners to view the property. I can assure you that when we sign a contract, we have every intention of buying the property.
Objection - Why are you going to list the house on the MLS?Answer
Sometimes, we will list the house on the MLS to pre-market the property. If we do ever list it, it allows us to find potential partners on deals, and in some cases, it helps us line up an end buyer even before we close.
Objection - I want to use my own Title CompanyAnswer