Handling objection is part and parcel of an agent's life. Here are three tips to help you overcome objections.
Before we go into handling objections. I would like to congratulate you for having objections to face. Why? Because if you close every case you open, you are not trying hard enough!
So look at objections positively. Maintaining a positive mindset towards objections will help you a great deal in using the below three tips on handling objections successfully.
1. It’s not him, it’s me
Do not take objections personally. Some agents end up getting defensive and aggressive when facing objections from prospect or client.
One of the ways to keep your cool is to think to yourself, “It’s not him, it’s me.”
Why? It could be that you did not explain the benefits well enough. It could be that you did not demonstrate well enough why this particular plan suits his needs. Or plenty of other reasons.
Never argue with your prospect. Don’t take it as a chance to win the argument or show your superior financial knowledge by belittling them because you are supposed to be the expert. There’s really no prize in winning the debate and losing the prospect - and worse your professionalism.
And when you shift the source of the “problem” to you rather than the person in front of you, it will help you to genuinely understand the concerns on your prospect’s mind. In fact, deep inside you should feel good because it is a perfect opportunity for you to help him clarify any doubts that he may have. (See What to do when a client says "I will think about it")
2. Listen
Yes, listen without interruption! Understand what your prospect is trying to communicate. You may have heard the same objection a thousand times, but to your prospect, it’s his first. Being experienced and well-versed in answering the objection is to your advantage, but do not jump the gun.
One way to show your prospect that you are listening and that you value his opinion is to ask him to elaborate. He may have simply said, “This is not suitable for me” or “I don’t think this feature is attractive to me”. Ask him why so he can elaborate to elicit his true objections and reasons.
Subsequently, you can restate the objection by paraphrasing to make sure you understood what he is trying to communicate and your prospect gets a chance to clarify anything you may have missed.
3. Respond positively
When you view objections positively and listen attentively, you will then be able to respond positively.
The really great agents will take the time to understand how a prospect feels about a particular objection even if they have answered similar objections plenty of times. They will then tailor their response according to the prospect’s situation to show that they genuinely listened.
You will also want to demonstrate your positivity by maintaining positive body language. This includes maintaining eye contact, open palm gestures, and speaking calmly.
Don’t assume that you have answered the objection. Use phrases such as “I believe that has answered your concern, right?” It serves two purposes, getting confirmation that the objection is answered and getting agreement and buy-in from the prospect to continue with the sales process.
There you have it. May you overcome objections with ease.
This will also definitely help you in your advisory process: The six principles of persuasion. There are six "shortcuts" that our brain uses to make decisions faster. This article shows you how you can use them to be able to gain an advantage.
And if you really hate objections. I found and revealed the secret to NO objections.