Here's how you can boost your ability to handle objections in commercial real estate sales.

In case of objection do this 3 things at that very moment: 1. Keep Calm and maintain composure. 2. Absord anger and try to understand even if you think it's foolish. 3. Ask questions to clarify and understand the "WHY?" This will do wonders everytime!!

Active listening is the cornerstone of effective objection handling. When a client raises a concern, your first response should be to listen attentively. This approach not only shows respect for the client's viewpoint but also provides you with vital information about their specific needs and pain points. By understanding the root of the objection, you can tailor your response to address the client's concerns directly. This demonstrates your commitment to finding the best solution for their commercial real estate needs and assures clients that they can always find what they are looking for when they reach out to you.

Let's talk about closing deals in commercial real estate sales. You've got a handle on the technical side of things --- research, numbers, and property details. But, what about objections? Some common objections are: - "I need to think about it." - "I don't have the budget for this." - "My lease isn't up yet." - "I'm happy where I am." To make objections work for you: 1. Anticipate them, and prepare a response beforehand. 2. Listen more than you talk. Don't interrupt. 3. Empathize with the client. Acknowledge their concerns. 4. Reframe the objection. Turn it around to show why your solution is worth it. 5. Close tactfully. If the client is still hesitant, ask them what they need to make the deal happen.

When I first got into this business I was told "Bray, God gave you two ears and one mouth, do the math". People want to be heard and understood when you accomplish that you begin building a bridge of trust. When you get trust you get a life long client.

"Enhancing Client Relationships-Empathy in Real Estate" Empathy is crucial in real estate transactions, particularly in objection handling. Beyond active listening, acknowledging and validating a client's feelings build trust and rapport. Understanding their perspective, even if you don’t agree with their objection, fosters a deeper emotional connection. This approach not only enhances client satisfaction by addressing their concerns authentically but also improves problem-solving and negotiation outcomes. By demonstrating empathy, real estate professionals create a supportive environment where clients feel valued and understood, paving the way for successful transactions and long-term relationships built on mutual trust and respect.

Understand that “walk a mile in their shoes” will never happen.. you are not them. Empathy is sometimes difficult of you can’t emotionally place yourself emotionally into their position. The best thing to do is be of clear mind to truly listen to their needs, their struggles, their challenges…. Questions are better than statements or advice… if you’re too eager to offer a solution, you may miss the opportunity to truly understand them and their situation to truly empathetic.

In a commercial real estate negotiation, a client expressed frustration about a property's limited parking. I listened attentively, then acknowledged their concern: "I understand how crucial parking is for your business; it's frustrating when it doesn't meet your needs." By validating their feelings, I created an emotional connection and showed I cared about their satisfaction. The client felt heard and valued, which helped build trust and rapport. We worked together to find a solution, and they ultimately closed the deal. Empathy had turned a potential obstacle into an opportunity, teaching me the importance of understanding and connection in navigating objections.

Real estate solutions are typically long-term. While customers state their requirements, your expertise lies in deciphering these needs and demonstrating the value proposition of each aspect. Developing an understanding-based rapport is essential, as it allows space for new ideas and beliefs. It's crucial to show how one option's features translate into a compelling value proposition. In a marketplace with many options, the understanding and relationship you build with the customer will ultimately make them feel comfortable choosing your solution.

Something I learned early in my lending career was on a sign over the doorway to a RE Brokers office- “Nobody cares how much you know until they know how much you care”….. I have used this in my career to let the client know that I want both of us to succeed. My success is not at their expense. Active listening is the key!

The quality of a solution is directly linked to the depth of understanding of the customer's requirements. By seeking information and probing for underlying questions, you can offer long-term, high-value solutions. Customers feel valued when you inquire about their organization's culture, diversity, and the lifestyle of their users, as this demonstrates you are an extension of their organization and complement what they aim to provide their team members. Additionally, asking the right questions can raise awareness, as many customers may not be fully aware of all aspects of commercial real estate until these topics are brought to their attention.

Commercial Real Estate is highly data driven unlike residential real estate. Its important to ask open ended questions and listen carefully so we can come back to customers with data and from reliable sources to alleviate their doubts. Missing supporting data is telling to the customers that you are inexperienced and perhaps not the right fit for expensive CRE decisions.

Doubt? not human if you don’t have them - so acknowledge their doubt and be patient while focusing on what they do like - often the client will resolve their own doubts with or without your help - don’t be pushy but gently help them through a natural process

I know it’s an old tactic, but repeating their objection to them can be a clarifying opportunity. Be careful how you do it, keep the client in mind. Sometimes being too simplistic can be perceived as condescending. Seek to understand is the key.

A good frame work to avoid arguments is the IMBW…ie I might be wrong, but: It seems It sounds like It feels like Using these you can clarify their objection in a collaborative way.

Commercial real estate solutions go beyond simply offering space; they encompass providing comprehensive solutions for the users of the space, including safety, transportation, amenities, viability, hygiene, responsiveness, and flexibility. Adding extra amenities or incentives significantly enhances value and provides a competitive advantage. Ultimately, it's essential to customize commercial offerings by delighting the customer and to best suit all parties involved, creating a win-win situation.

More terms involved in any negotiation will likely result in better outcomes for both sides. If the only term the parties are focused on is price, it will be more difficult to craft a win-win solution. Multiple terms give you the ability to "give away" something that might not be that important to your side but is to the other party. Listening and asking questions of the other side is important to discover what terms might be important to them.

I recall a commercial real estate negotiation where a client objected to the property's price. I listened attentively and understood their concerns. To address their objections, I presented data highlighting the property's unique features and value. I also offered alternative properties that better fit their needs and negotiated terms that made the deal more appealing. By presenting flexible solutions, I demonstrated my commitment to finding a mutually beneficial outcome. The client appreciated my willingness to work together, and we closed the deal. It was a win-win outcome that taught me the importance of customized solutions in overcoming objections and building strong relationships.

Demonstrating flexibility and a willingness to collaborate is key in finding suitable solutions for all situations. Always pitch a way of moving forward, that's the solution!

Add value, if you can't add value to the situation you aren't needed. Always be forward thinking for your client and their needs.

If the relationship is there and you have spent time learning and becoming an advocate for the business, the confidence in your client grows congruently to it.

Absolutely! Building confidence is essential. Convey your strong belief in the commercial real estate and your services when addressing objections. Share success stories to illustrate past achievements, highlight the property's unique features, and emphasize its potential to meet the client's business objectives. Your confident demeanor will reassure clients that they are making a sound decision by working with you. Confidence can be contagious, helping to alleviate their concerns and foster trust in your expertise. By demonstrating your conviction, you can guide clients towards seeing the value and benefits of the property.

The real estate is hard. First understand the project. Second well eximinate the business plan. Then cover the financial problems. After understand if would be possible to evaluate the possibilities and the financial resources to meet. It s not very simple requires a well knowing of this type of business.

The more the skill level more the confidence. Keep learning and growing to be confident even in bad situations and objection handling. Sell stories and facts to build more confidence.??

Absolutely! Confidence is crucial in instilling trust. Can you share a success story where your confidence in a property helped overcome a client’s objections? Hearing real-life examples of how a confident approach made a difference would be inspiring. Highlighting unique features and sharing success stories can definitely reassure clients they’re making a wise choice.

"Gold Is In the Follow-Up!" Following up is crucial to solidifying client satisfaction and closing deals effectively. Beyond resolving concerns, timely follow-up calls or meetings reinforce the property's value proposition and your commitment to exceptional service. This proactive approach not only keeps communication open for further negotiation but also builds trust and rapport. By personalizing interactions and demonstrating professionalism, real estate professionals can turn initial skepticism into lasting client satisfaction. Case studies underscore how strategic follow-up transforms concerns into confident decisions, highlighting its pivotal role in successful real estate transactions.

I once worked with a difficult client that lyed, and changed their mind for over 13 years when representing them. But I stayed in the game. And finally sold a high profile Student Development site in Harrisonburg, Va. How? I remained positive, kept doing my job and it paid off.

Showing up is half the battle- I’m sure you have heard this one time and again. It is true here as it is in most of life. Each situation is unique but after you have answered and completed your meeting- promise follow up with a time expectation- and then do it! When you begin that next interaction, open with “I’m following up as promised “….It will confirm your intentions and help set the stage. Some clients brains are waiting to see if you will check the box of customer service and follow up. Trust is earned-being truthful and “showing up” along with listening will put you miles ahead with the customers you truly want.

Don't give UP till the prospect doesn't say a big "NO". 5 touch points are very important before you close the deal. A very rare case of less touch points will close deals. So Follow up is the KEY????!!

Help your client reset their perspective when things become emotional or unrealistic. For example many owners have completely unrealistic views of their property values today. The market has shifted significantly over the past three years. Ask your client if they are moving forward from a vanity or sanity perspective. No one wants to admit they are being vain. Allow them to realize and adjust their perspective and your deal has a better chance of moving forward.

Research on the front end. Work through every possible objection and be prepared with a solution. This could be a price reduction or it could be a repair that you are in position to handle. The key is that you dont want any surprises. If the requests are unreasonable, be ready to walk.

5 important things to consider in commercial real estate! Market Research: Study trends, property values, and economic outlook. Understand demand and competition. Property Evaluation: Assess condition, location, features, and zoning compliance. Consider tenant/customer appeal. Financial Analysis: Review income projections, expenses, and ROI. Evaluate financing options. Due Diligence: Examine legal documents, leases, and contracts. Ensure no liens or disputes. Negotiation and Closing: Negotiate terms, including price and financing. Coordinate with legal and financial experts for a smooth closing. These steps form a strategic framework for successful commercial real estate transactions, ensuring informed decisions and mitigating risks.

Reframing this Objections as Opportunities: Turn objections into opportunities to provide more information and highlight the property’s strengths. Be solution-oriented by offering practical solutions or alternatives that address the objection.

I would say...OK we've heard your thoughts, give us some to address them...but what we really want to know is, given that it will probably take money, time, energy to address those topics....a major investment on our part...tell us why we should make this investment in you specifically... What do you bring to the table ? Why is your use ( retail situation ), the best use for the space ? How dedicated are you to ride the wave of ups and downs doing business. Give me a special story ( ies ) that shows your tenacity and creativity.