How To Overcome Agent Objections To Bidding Platforms
Technology is starting to change the real estate industry, whether we like it or not. By embracing the new tools and platforms and learning how and when to use them, you can exponentially grow your business and provide a better experience for your clients.
But, like anything new, people usually respond with discomfort and objections. When we unveiled our new bidding platform, USA Homebids, which allows for buyers and sellers to see bids on properties in real time with full transparency, we received a lot of agent objections.
We have learned how to share about this new bidding platform technology in a way that helps agents overcome their fear of the unknown, so that they can leverage this powerful new opportunity for their own businesses and for their clients. To learn how I help overcome real estate agent objections, watch this new video or scroll down to read the key takeaways:
Tips For Overcoming Agent Objections to Bidding Platforms:
The fact is, technology isn't going away. As a real estate agent, you want to stay on top of market trends and new technology that can help your clients sell their properties faster and for as much as possible. The longer you wait to learn how to use these new tools, the more your business will slowly seem behind the times.
Here are the main takeaways from this video, if you're skimming quickly:
2 Main Reasons Agents Are Uncomfortable:
The most common reasons why agents don't want to use bidding platforms:
They prefer the traditional way of buying and selling properties. They don't like trying new things and want to use what has worked for them in the past.
Agents say that the platforms deceive clients by starting with a low bid price. Or, that the platform is unfair.
When encountering these objections, or if you feel these same concerns as an agent, take the time to learn about the platform and how it works. You can even get certified to use the platform in just a couple of hours and you can experience it for yourself.
Then, you'll have an opportunity to see how the transparency and system works and why it appeals to so many buyers and sellers who are uncomfortable with the traditional way of selling real estate.
If you are the one trying to encourage other agents to give the platform a chance, use the "feel, felt, found" method of validating their feelings, sharing how you felt and explaining what you have found now that you're using the platform.
The truth is, the full transparency of bidding platforms appeal to many agents, buyers and sellers who want to feel part of the bidding process. We have found that the platform is particularly interesting to clients who were considering selling their homes on their own, in order to maintain more control over the bidding process.
Like any auction or bidding platform, or even the process of buying a bank owned property, the price starts low and then the bidding process shows what the market is willing to pay. Usually, the final bid is above what the seller could have gotten for their property on the traditional market and they'll have this offer within a matter of days, instead of sitting on the market for weeks or sometimes months.
Benefits to Using Bidding Platforms for Agents:
You can offer a unique way to buy or sell properties to your clients.
By becoming certified to use the platform, you can gain new leads from interested clients who are willing to spend money on properties.
You get paid the full commission on the buy side
You don't get stuck in a highest and best situation
Everything is fully transparent
At the end of the day, always come from a place of service when talking to agents and clients. Build a positive relationship by taking the time to talk with them until they understand and are no longer angry.
I always say, never hang up the phone with an angry agent or client. Make sure they are extremely satisfied with the conversation and are willing to try out the platform.
If you have questions about bidding platforms or want to become a certified agent so you can list properties on the bidding platform, give us a call at 916.524.9733.
Russell Enyart and the Enyart Real Estate Group are top real estate agents serving serving West Sacramento, Folsom, El Dorado Hills, Granite Bay, Loomis, Rocklin, Roseville, and Sacramento County, Placer County, and El Dorado County.