Buyer Objections | Your Price Is Too High

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Transcript

What Not To Say Back

The Four-Step Objection Framework

Answering ARV Repairs Margin Pushback

Shutting Down Early Retrades

Bad Vs Good Negotiation Roleplay

Protecting Relationships And Closing CTA

SPEAKER_00 0:03

If you dispo deals, you're gonna hear this all the time. Your price is too high. And sometimes that's true. And sometimes it's a tactic. Sometimes it's a buyer with no real money trying to negotiate like they're a player. And your job is not to argue. Your job is to figure out whether this is a real buyer with a real objection or just noise. Because if you handle this the wrong way, one of two things happens. You either fold too fast and kill your margins for no reason, or you get defensive and lose a legitimate buyer who just needed clarity. This is not about ego. This is about controlled negotiation. So let's start with what not to say. The first bad response is that's the best I can do. And that turns the conversation into a standoff and solves nothing. The second bad response is, well, go buy another deal. Now you just sound emotional and you told the market you don't value in buyers. The third bad response is, okay, well, what do you want to pay? That gives away leverage immediately. What your price is too high usually means, most of the time, that statement points to one of five things. They don't believe your after-repair value, they don't believe your repair estimate, they have another deal they like better, they're testing you because they think you're soft, or they're not a real closer and they negotiate just to negotiate. So the first move is never to drop the price, the first move is to diagnose the objection. So let's give you a four-step framework: validate, isolate, verify, deadline. Step one, validate without conceding. You do this by saying, totally fair. Let's make sure we're looking at the same numbers. That keeps the conversation calm, professional, and in control. You're not agreeing with them, you're showing them you're not reactive. Step two, isolate the real issue. So you ask them, when you say it's high, are you talking about the after repair value being wrong, the repairs, or your profit margin? That question forces specific. That question forces the buyer to be specific. And they can't answer that question, there's a good chance they're not serious. Step three, verify with facts, not speeches. Once they give you a real objection, now you respond with data. If they say it's the after-repair value, then you say the ARV is supported by these comps within X amount of miles sold in the last X amount of days. Which comps are you disagreeing with? If they say repairs, then say we underwrote repairs at X to Y based on this condition. What line item are you seeing differently? If they say the profit margin, then you say, what's your target buy formula in this zip code? Are you at 70% minus repairs? Are you at a certain amount of profit percentage? How are you coming up with the numbers that you need? And notice what you're doing here. You're not defending, you're making them show their math. And that's a completely different conversation. Step four, set a deadline and bring control back to the deal. You do this by saying, totally fine if it's not a fit. I do have other buyers looking at it. If you want it, send me your best number and proof of funds by this time frame. Otherwise, I'm moving forward elsewhere. And this is where talkers get separated from closers. Couple key principles. Do not negotiate with vague feedback. If a buyer says it's too high but can't explain why, that's not a negotiation. That's just them fishing. Your response should be, got it. What's your number and what are you basing it on? If they can't answer that clearly, then you should move on. Your time is worth more than somebody else's random opinion. So how do you handle the most common buyer responses? ARV is wrong. You say, okay, which sold comp are you using? If they hit you with an active listing or pending, then you say, I'm underwriting off of closed sales only. If you've got a better closed comp, send it over and I'll review it. Now your position as a data-driven and not emotional. When they say the repairs are higher, you say, What are you underwriting repairs at? And then follow it with, is that because of the roof, the HVAC, foundation, or are you just looking at a heavier interior scope? If they name real issues, great. Now you can have a real conversation. If they just say it's rough, then they're guessing. Next, if they say I need more profit margin, you say, understood. Are you buying this as a flip or a rental? And if they say it's a rehab, what's your target margin? Or what's your formula? How do you come up with that? And then you follow with if your formula needs a lower price, give me your best number and I'll see if it works. That forces commitment. Now they have to stop whining and actually put a number on the table. Now, what happens if a buyer tries to retrade before even seeing it? Basically renegotiate with you. You say, I'm open to real feedback after you've walked it, but if you haven't seen it, I'm not adjusting price based on guesses. Do you want the next showing window or do you want to pass? That protects you from fake renegotiations and fake urgency. So let's go through bad versus good role play. Starting off with the bad. The buyer says, Your price is too high. And you say, Okay, what do you want to pay? The buyer, drop it$15,000. You. Alright. Now they know you fold fast. And once buyers smell that, well, they keep pushing. So let's go through the good version. Buyer, your price is too high. You totally fair. Let's make sure we're looking at the same numbers. Is it the after repair value, the repairs, or your profit margin? The buyer, the repairs are higher, which is common. You, okay, what are you underwriting repairs at? And what items are driving that? The buyer. The roof and the HVAC. You got it. The roof is older, HVAC age is unknown, and that's exactly why we already budgeted this at X amount of repairs. If you want it, send me your best number and proof of funds by 4 p.m. Otherwise, I'm moving forward with the next buyer. Now, one of two things happens. They step up and perform, or they disappear. Either way, that helps you. Now, if you want to stop the back and forth fast, use this line. I'm not married to any buyer. I'm married to closing for the seller. So send me your best offer with proof of funds and I'll make a decision by this time. That line resets the entire conversation. Now, here's also a fail-safe text message that you can send. If the buyer starts dragging their feet, send this. Totally understand if it's not a fit. If you want it, send the best number and proof of funds by this time. If I don't have it by then, I'm moving forward with another buyer. Simple, clear, no emotion. That's it. A buyer saying your price is too high does not mean the deal is overpriced. It means you need to figure out whether the issue is their math, your math, or the fact that they were never a real buyer to begin with. The mistake is not hearing the objection. The mistake is reacting to it too fast. Now, I do want to clarify this for all of my end buyers that are going to watch this video. This is in reference to when you are dealing with a buyer that you've never done a deal with before. I am a huge advocate when you are a wholesaler to build long-term relationships with your in buyers. Our goal is not to assign one deal to an end buyer, but to assign a hundred deals to that end buyer. So we want to understand if the numbers are not correct. If our price is truly overpriced, we want to understand the reasoning. Is it because of the value, the rehab, or the profit margin? That's how we build that long-term relationship so we understand where you're coming from. So for the end buyers that are watching this, don't get offended. Just educate us on what we're missing. That's what we need so we can go out and perform for you over and over and over again. All right, guys, that's our episode. Let me know what you think in the comments. And also, what are some of the objections that you're facing during dispositions currently in your business? Regardless, show me some love, like today's video. We'll see you guys tomorrow.