Handling Objections

Transform a challenging conversation into an opportunity for growth

Well, what a crazy weekend it was in the world of AI, waking up to the news on Saturday morning that Sam Altman had been given his marching orders from Open AI in what looks like a heavily lawyered statement.

That statement also stated that co-founder Greg Brockman would just be stepping down as Chairman of the Board; shortly afterwards, he told X that he would be leaving as well.

Today, we saw pics of Altman with an Open AI guest pass walking back into the building, perhaps for another round of negotiations that, as I write this, went nowhere.

It sounds to me like there were objections that couldn’t be overcome, perhaps from both sides.

Closer to home, we’re now a week out from auction on the sale of our house which I’ve written about a few times over the last few months.

Nothing ever runs smoothly, and there have been several objections from buyers - some that are easy to deal with, some not.

So, that’s the inspiration behind today’s post.

Prompt of the Day

Firstly, if there is an objection, you want to find out what is behind the objection because it could be something very different to an assumption you might make; and the last thing you want to do is jump into solution mode before you’ve explored the problem to see how big it is.

If you were to ask for advice from an AI, then you might ask something like this first:

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I'm a real estate agent trying to sell a property that is [problem with property]. Pretty much every buyer has mentioned [insert problem]. Act as an expert negotiator and give me some examples of questions I should ask buyers to find out what is at the heart of the objection.

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When you put a real issue in, it might play out as follows:

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I'm a real estate agent trying to sell a property that is close to a main road. Pretty much every buyer has mentioned the noise. Act as an expert negotiator and give me some examples of questions I should ask buyers to determine what is at the heart of the objection.

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I asked Claude this one (so much turmoil over at Open AI, I thought I would give ChatGPT a break!!) and here is the response:

Here are some questions you could ask buyers who raise concerns about noise from the main road near the property:

• Can you tell me more about your concerns with the noise? What specific types of noise are you worried about?

• How sensitive are you to noise in general? Have you lived near busy roads before, and how did that impact you?

• What times of day are most important for you to have quiet, such as for sleeping or working from home?

• Were there any rooms in the house where the noise was more noticeable, like bedrooms facing the road?

• What kind of noise insulation features does your ideal home have, like double-paned windows or sound barriers?

• Is this property missing any noise reduction features that you'd want to see added?

• How might occasional noise during busy traffic times impact your family's lifestyle or daily activities?

• Besides noise, what other factors are most important to you in finding the perfect home?

The goal is to get a detailed understanding of the root of their concern, whether it's sleep, work, health conditions, or other lifestyle factors. Noise can be mitigated in various ways, so with more information, you can better show how this home can meet their needs despite the road location. Focus on listening and finding solutions rather than dismissing or downplaying their concerns.

Once you have some idea of how big the problem is and have explored it some more, you might ask a follow-up question:

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Can you give me some ideas of how to mitigate these, both with and without the vendors help?

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Note I’m including “with and without my vendor’s help” because I want the answer to include solutions that are within my control, and outside my control.

Here are some suggestions for how to handle buyer objections about road noise when selling a property near a main road, both with and without help from the seller:

With the seller's help:

Ask the seller if they've had the property noise-tested to measure the decibel levels objectively. Provide this report to buyers to put concerns in context.

See if the seller can pay for soundproofing upgrades like double-paned windows before listing. This shows they are addressing the issue.

Have the seller disclose known information about traffic patterns on the road to set expectations better. For example, noting rush hour volume.

Advise the seller to highlight other benefits that offset the noise, like the convenient location.

Without the seller's help:

Research the road to get data on traffic volume, speed limits, etc., to educate buyers.

Suggest noise reduction solutions a buyer could implement, like fencing or trees to reassure them.

Note comparable sale prices for other homes near busy roads to emphasize value.

Offer to let buyers visit the property during high traffic times so they can assess for themselves.

Frame the noise as a tradeoff for the great location that minimizes commute times.

Provide ear plugs and advise running white noise machines to help buyers visualize minimizing the impact.

The key is addressing the concern directly with facts and solutions to overcome a buyer's objection. With the seller onboard, you can be even more proactive. But even without their help, focus on the property's overall value and ways to reduce noise.

This prompt really showcases the “idea generation” capabilities of large language models - instead of starting with a blank sheet of paper, it gives you some ideas to work on.

Happy Hunting 🚀

Dall-E3: Aerial view of a beautiful coastal house close to a busy main road. The image captures the modern architectural design of the house, the bustling road, and the scenic coastline. Side Note: It’s kind of weird that a four-lane freeway terminates abruptly in a swimming pool, but maybe its been that kind of day over at Open AI.