How to Handle and Melt Negotiation Objections

For example, let's say you're talking with a seller who wants to run a deal past his attorney. You're not really interested in the delay, but you want to make the deal. Here's an example of how to handle that situation.

Investor: "I've found that when a person tells me they need to check with their attorney they generally fall into one of two groups. Group one are those people who really want to move forward, in fact they're signed up and on board with all the ideas and concepts, they just want to make sure they are being prudent and run it past their attorney for one last checkup. The folks in other group really don't want to do the deal; it's just that they are uncomfortable saying no. Before you go to the expense of spending $400 to $500 just to have your attorney review what we've agreed to, did you just want to tell me that you fall into the second group?"

SELLER PROTESTS

Investor:" Really it's OK, I'd understand if you wanted to go back on what we've agreed to."

Seller: "No! I just want to have my attorney look at it."

Investor: Well that makes good sense. I'm really glad that we have such a good fit and I understand and encourage you to take what we put down on paper here and sign to your attorney. If for any reason they're not happy, you can just fax me over a note saying you want to cancel the agreement. When did you think you'll be talking with your attorney?" [Make sure you pick a time and date that they can cancel with you, and you with them, by faxing over a written cancellation. This provides a firm go or no-go point that you control]

Now let's look at a way to melt objections.

Many objections are really the other party's way of saying that you are rushing things and they aren't quite comfortable with you yet. Often, just by tabling an objection and letting more time pass you can literally MELT away the objection. For example, let's say you're negotiating with a seller about a "subject to" deal, and the seller wants some reassurance that she can count on you to make the payment. Here's a language pattern you could use:

Seller: "How do I know you'll actually make my payments?"

Investor: "I understand that you need to feel comfortable that your payments will get made every month. If I end up wanting to buy the property that's even more important for me since I would lose a lot of money if they weren't made. But I think we may be getting ahead of ourselves here, I'm still not sure if I even want to buy the property. Why don't we leave that aside for a moment and then we'll come back to it later after we've both decided that we can even find a fit here, which we may not be able to do …"

By acknowledging the seller's concern, and then slowing down the pace of negotiations, combined with moving onto something else, you will often find the seller is more than willing to pick up the deal a short time later. Change the subject, go for another tour of the house, take a look at the garden … whatever it takes to get the seller to relax, so when you revisit the subject that objection has had time to be mollified, and hopefully melted entirely.