Believe it or not, objections are not a bad thing. If your prospect raises an objection, that’s a good sign. That means they care enough to ask questions. And, the fact that they are talking out their concerns means they want to be able to move past it. If someone is completely uninterested in leasing from you, they won’t bother to object.
So what exactly is an objection? Objections are anything that stops your prospect from leasing from you. Notice that I didn’t say from your peer or from leasing at your property. I said leasing from you.
You often hear me say that you shouldn’t take things in the business world personally, but I want you to take this personally. Because the sales process is exactly that, especially when you are selling a home. People want to lease from someone they like and trust. During this stage, you are a representative or the entire customer experience at your property.
Your goal is to overcome objections before questions are even asked. Maybe even before they are thought of. I know this sounds pretty difficult, but it really isn’t that hard. With a little practice and truly knowing your competition, you will be able to do this in no time.
The trick is to always arm yourself with facts. You have to take an honest look at your strengths and weaknesses in comparison to your competitors. Look at the obvious things like hardwood floors and decked out gyms, and the not so obvious things like maintenance response time. For example, if you don’t know exactly why your rent is higher than the property next door, how can you possibly answer any price objections your prospect raises? At least in an honest manor that satisfies your prospect.
Lastly, don’t forget to ask questions. Let someone else do the talking. Ask your prospects and residents questions. Although surveys work very well, the questions do not have to be formal. They can be casual conversations. Some of my favorite questions are below.
“What concerns did you have when you were leasing an apartment?”
“Was there anything that could have stopped you from leasing?”
“Was there one factor that made the final decision for you?”
Now it is your turn. Take these questions and come up with a few of your own.
Social Insight Thought Leader