“I Don’t Want To Pay A Buyer Broker”

Those are terrifying words to hear at the end of a listing presentation.

After all the effort you’ve put into cultivating a relationship, generating a listing lead, converting it to a bona-fide appointment, and putting on your presentation, it can be disturbing to have this bombshell go off at the last minute. So it’s better to be prepared than surprised. 

You had to know it was inevitable that you would be challenged on commission, because the rules have changed. The news is out.

The real estate industry has been especially noisy lately, and the economy is unpredictable.

Relax and rely on your training. This is nothing more than a variation on the old discount commission objection.

First, pause before you respond. It wouldn’t hurt to take a breath, and silently repeat to yourself, “I got this.”

Then agree with them. Don’t argue. “Whew. I am SO glad you brought this up.” Those words, or words to that effect, will calm everybody down.

Now get curious and ask questions.

Seek first to understand.

This will keep the conversation going and help you clarify their thoughts and feelings. Listen with empathy while holding your own thoughts in reserve.

Commission objections almost always boil down to net, because at the closing table, net is all that matters – how much cash they walk away with. 

Once you have paused, responded, questioned, and listened, it’s time to ask a hypothetical question, aka a sharp angle question.

You might know based on experience that offering a buyer broker compensation is the best way to ensure your client receives the highest net, but sometimes all they can see is the commission percentage.

That’s what makes this step so critical in securing a saleable listing.

“Folks, if you knew for a fact that offering full compensation to a buyer broker would actually net you more cash in your pocket at closing, would you consider it?”

And make sure you get a YES to this question before proving it, otherwise you will be talking to inattention.

Now you take out your visual proof and explain the logic of it, adding emotional words and phrases.

“Let me show you something that will prevent you from leaving money on the table.”

Finally, the hardest part of handling any objection.

Assume it worked and resume where you left off before the objection came up. Don’t wait for a reaction. Your silence just gives them time to think up something else to object to. Assume it worked and close for the signature.

As the market normalizes and the rules continue to change, keep your selling skills sharp so that no matter what they say to knock you off track, you have a game plan for handling it.