Book of the Week: Guide to Handling Sales Objections

Guide to Handling Sales Objections
By Barry Farber’s

Chapter 1: What Objections really are?

· Objections are not rejections
· Objections are really opportunities to move a sale beyond what the customer sees as a barrier.
· Objections are buying signals. ie. I want to buy but…
· Objections are a chance to better educate the client.
· Objections help you move on to the “Next Step”. ie. If I can show you how it will save you money, would you like to go ahead and give this a try?
· Nothing is worse than not getting any objections and the customer just “fades away”. This is when they don’t return your calls, emails, or letters and you never get a chance to figure out why you didn’t make a sale.

Chapter 2: The Six-Step Method for Handling Objections

1. Listen to the objection in its entirety.
a. This may be the most important of the steps. This is both a rapport building stage and a chance to figure out what the client really needs from our service.
2. Define the objection.
a. Client “I’m not sure I’m ready to buy right now.” Ask questions to figure out what the specific objections are. PHB “Why is that?”
3. Rephrase the objection into a question.
a. PHB “So from what you have been telling me, you are worried about where you are going to come up with the money to buy a home?
4. Isolate the objection.
a. PHB “If we are able to come up find you government grant money to pay your closing cost and down payment so you don’t have to come up with the money yourself, is that the only thing that is keeping us from moving forward on this?”
5. Present the solution.
a. Spend time determining possible solutions if possible. ie. “Let me ask my boss”
6. Close.
a. ASKING FOR THE ORDER- Leads to a YES or an Objection.
b. “Bottom line is if you can’t simply say to your customer, Why don’t we go ahead with this? there is something wrong. Not with your closing, but with your approach to sales.”

Chapter 3: The Ups and Downs of Feel, Felt, and Found

· Sales technique that is basic but can be used in almost any circumstance.
1. Feel:
§ Buyer “I’m not ready to move right now. I think prices are dropping.”
§ PHB “I understand how you FEEL”
2. Felt:
§ A lot of our client that I have spoken to have FELT the same way too.
3. Found:
§ But when they FOUND out how home prices and interest rates were at historic lows, they were amazed at how cheaply they could buy a home.


Chapter 5: What Does it Really Cost: Price Objections

· You only get Price objections for two reasons:
1. The client wants to get the best price possible.
2. The true value of what you’re selling has not been conveyed to the customer.