It was about 17 minutes after the kick-off of BAMfest when the comments section started going wild.
“I need to re-watch this”
“Is this recorded?”
“Can’t take notes fast enough”
“Marked in my notes to relisten at 17 minutes…”
This, of course, was after the epic pre-show with DJ Melee and after hosts The Broke Agent and Actually Agents kicked things off.
It was during the first session when Jared James sat down with Byron Lazine for a fireside chat.
The topic?
How to Position Yourself with Upcoming Shifts in the Real Estate Industry.
The part when everyone got fired up in the comments?
James’s incredible objection handling script.
We break it down below.
Handling Objections: The Answer is in the Truth
Lazine put James on the spot with some role-play. He asked James how to respond to an objection many agents are hearing right now: “I heard I don’t have to pay a buyer agent commission.”
Before getting into his script, James noted that sticking with the facts is always the best way to handle objections:
“A lot of times, when people hear these things, the mistake they make is they try to think, ‘What is the right answer that’s going to sound good?’ When the truth is: the answer is in the truth.”
From there, James shared a dialogue that made everybody watching take notice. So if you’re wondering how to respond when a seller says, “I heard I don’t have to offer commission…,” take notes from these talking points:
“Did you hear now or three years ago? Because it was true in both times. Nothing has changed. There was nothing (back then) that said you couldn’t, and you don’t have to moving forward. By the way, you can sell it yourself, by the way, all of (these options) were always available.
“But here’s how it works: the reason you want to sell right now is because we’re at record prices. Do you know why we’re at record prices? Demand. You know what demand creates? Exposure. Exposure creates price.
“When you don’t offer out the potential of a co-op percentage to the other side, what you do is you take a percentage of those buyers who are already paying for closing costs, who are already paying for moving costs, who are already paying for all these things, who can’t afford to pay an agent—and you eliminate them from looking at your property.
“When you eliminate them from looking at your property, you eliminate demand. You eliminate exposure, and you put yourself at a competitive disadvantage. And you no longer get that price that you wanted to get because you don’t have the demand and the exposure.
“So no, you don’t have to offer out. And you didn’t have to six months ago. And you don’t have to six months from now. But if you want the price, which is the very reason you’re putting it on the market, then you have to do what’s going to put you in the best light and bring the most amount of demand in here.
“And by the way, you may not like how that works, but you benefitted from it when you bought this property. And you’re going to benefit from it when you go to buy another property.
“And that is how you’re getting the prices that you’re getting right now.”
“I would just explain that to them,” James nonchalantly noted at the end.
Right now, you’re probably itching to watch this dialogue and hear it delivered. Luckily, we’ve got you covered. BAMfest was filled with so much value that we opted to open the recording to everyone.
To see this role play right away, scroll past the DJ and intro and start at 47:00. Then, go back and watch the whole thing.
Trust us when we say this was just the first of many jaw-dropping moments.
