{"id":71801,"date":"2023-03-29T11:02:41","date_gmt":"2023-03-29T15:02:41","guid":{"rendered":"https:\/\/blog.myewm.com\/?p=71801"},"modified":"2023-03-29T11:02:41","modified_gmt":"2023-03-29T15:02:41","slug":"chatgpt-picked-favorites-from-10-commission-objection-scripts","status":"publish","type":"post","link":"https:\/\/blog.myewm.com\/?p=71801","title":{"rendered":"ChatGPT picked favorites from 10 commission objection scripts"},"content":{"rendered":"<div class=\"heading share-section\">\n<div class=\"authors-date-social top-share-section\">\n<div class=\"authors-date\">\n<h4>If you\u2019re having trouble figuring out which scripts work best, take them for a test drive on ChatGPT. Ask it to explain why one script is more effective than the others<\/h4>\n<div class=\"publish-date\">In 2005, I wrote my book <i>Waging War on Real Estate\u2019s Discounters\u00a0<\/i>which contained a collection of the very best strategies,\u00a0<a href=\"https:\/\/www.inman.com\/2022\/09\/22\/sellers-stuck-in-the-past-7-scripts-to-help-them-get-realistic-on-price\/\" target=\"_blank\" rel=\"noopener\">scripts<\/a>\u00a0and tactics for overcoming commission objections. The scripts below are excerpted from that book and are as effective today as they were when I first started using them over three decades ago. The question was: Could ChatGPT do any better? What made one script better than the other?<\/div>\n<\/div>\n<\/div>\n<\/div>\n<article id=\"post-967094\">\n<div class=\"content-wrap\">\n<div class=\"entry-content-inner\">\n<div id=\"events-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<p>I began this experiment by asking\u00a0<a href=\"https:\/\/www.inman.com\/2023\/03\/27\/chatgpt-for-real-estate-data-it-may-be-here-sooner-than-you-think\/\" target=\"_blank\" rel=\"noopener\">ChatGPT<\/a>\u00a0to search the internet (not generate its own responses) to find the best answers to the most common commission objections agents encounter.<\/p>\n<p>Next, I instructed ChatGPT to act as the seller of an expensive home and to respond to one of the five seller objections below. I then asked ChatGPT to compare the responses from Agent 1 (ChatGPT\u2019s search response) and Agent 2 (my response). Based on those responses, I asked ChatGPT to it to decide which agent it would hire and why. Here are the results.<\/p>\n<\/div>\n<\/div>\n<div id=\"trending-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<h2><b>Objection No. 1: How much do you charge in commission?<\/b><\/h2>\n<p>While this conversation is challenging face-to-face, it\u2019s particularly difficult to overcome when it\u2019s a phone call and you only have a few moments to respond. The caller\u2019s goal is to discover the\u00a0<a href=\"https:\/\/www.inman.com\/2023\/02\/28\/chatgpts-take-on-commissions-compliance-and-the-mls\/\" target=\"_blank\" rel=\"noopener\">commission<\/a>\u00a0amount and, if it\u2019s more than they want to pay, to hang up.<\/p>\n<h3><b>Agent 1<\/b><\/h3>\n<p><i>I understand that commission rates are an important consideration when choosing a real estate agent. However, it\u2019s also essential to consider the value and expertise an agent can bring to the table. I\u2019d be happy to discuss my commission structure and how my services can help you achieve the best possible outcome for your property in a brief conversation. Would that work for you?\u201d<\/i><\/p>\n<h3><b>Agent 2\u00a0<\/b><\/h3>\n<p><i>Do you want to obtain the highest possible net sales price from your sale or are you more concerned about how much commission you will be charged? To achieve the highest possible net price, you must have maximum exposure to the marketplace. With your permission, may I show you how my 15-Point Premium Marketing Plan helps you to achieve the maximum exposure to the marketplace that results in the highest possible\u00a0<\/i><i>net\u00a0<\/i><i>price for your property?<\/i><\/p>\n<div id=\"trending-sidebar\" class=\"sidebar\"><b>ChatGPT\u2019s response\u00a0<\/b><\/div>\n<\/div>\n<\/div>\n<div id=\"read_next-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<p><i>Agent 2\u2019s response is likely to be more effective in motivating the caller to set an appointment with the agent for the following reasons:<\/i><\/p>\n<ul>\n<li aria-level=\"1\"><i>Directly addressing the seller\u2019s concern: Agent 2\u2019s response acknowledges the caller\u2019s concern about commission but quickly redirects the focus towards the more important goal \u2014 achieving the highest possible net sales price. This can help the caller realize that there\u2019s more to the transaction than just the commission rate.<\/i><\/li>\n<li aria-level=\"1\"><i>Emphasis on the marketing plan: By mentioning their 15-Point Premium Marketing Plan, Agent 2 provides a tangible solution for the caller to consider. This showcases their expertise and demonstrates their commitment to achieving the best results for their clients.<\/i><\/li>\n<li aria-level=\"1\"><i>Call to action: Agent 2\u2019s response includes a clear call to action (\u201cWith your permission, may I show you\u2026\u201d). This encourages the caller to take the next step in engaging with the agent, increasing the likelihood of setting an appointment.<\/i><\/li>\n<\/ul>\n<div id=\"read_next-sidebar\" class=\"sidebar\"><i>While Agent 1\u2019s response acknowledges the importance of considering value and expertise, it doesn\u2019t provide the caller with a compelling reason to set an appointment. Agent 2\u2019s response, on the other hand, offers a solution (the 15-Point Premium Marketing Plan) and emphasizes the importance of achieving the highest net sales price, which is more likely to motivate the caller to set an appointment with the agent.<\/i><\/div>\n<\/div>\n<\/div>\n<div id=\"extended-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<h3><b>Key takeaways\u00a0<\/b><\/h3>\n<p>An excellent tactic for overcoming most\u00a0<a href=\"https:\/\/www.inman.com\/access\/how-to-handle-the-most-common-objections-in-todays-market\/\" target=\"_blank\" rel=\"noopener\">objections<\/a>\u00a0is to ask a powerful question that requires the seller to arrive at their own conclusion about what\u2019s best for them. In this case, the agent\u2019s question forces the seller to consider which matters most\u2014the commission amount or how much they will net at closing.<\/p>\n<p>Second, the best commission scripts always have a call to action that motivates the client to set an appointment or agree to a full commission.<\/p>\n<h2><b>Objection No. 2: Will you reduce your commission?\u00a0<\/b><\/h2>\n<p>The key premise in\u00a0<i>Waging War<\/i>\u00a0is that in order to obtain the highest possible price for your property, you must have maximum exposure to the marketplace. The best way to achieve this goal is with a Premium Marketing Plan (value proposition) that outlines the specific services you offer.<\/p>\n<\/div>\n<\/div>\n<div id=\"extended-ad\" class=\"desktop-only\">\n<div class=\"ad-label\"><b>Agent 1<\/b><\/div>\n<\/div>\n<div id=\"extended1-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<p><i>Value proposition: It\u2019s important to focus on the value that a professional real estate agent can provide, such as expert market knowledge, negotiation skills, and a network of potential buyers. These qualities can help sell your property faster and for a higher price, ultimately justifying the commission rate.<\/i><\/p>\n<h3><b>Agent 2<\/b><\/h3>\n<p><i>To achieve the highest possible price, you must have maximum exposure to the marketplace. With your permission, may I show you how my 15-Point Premium Marketing Plan helps you to achieve the maximum exposure to the marketplace that results in the highest possible price for your property?\u00a0<\/i><\/p>\n<h3><strong>ChatGPT\u2019s response<\/strong><\/h3>\n<p><i>While Agent 1\u2019s response highlights the value that a professional real estate agent can provide, it does not present a clear plan of action or a commitment to achieving specific results. Agent 2\u2019s response is more persuasive because it presents a specific, actionable marketing plan with 15 points. This demonstrates their preparedness and knowledge of the market. It also indicates that they have a strategic approach to selling properties, which can be a significant advantage.<\/i><\/p>\n<\/div>\n<\/div>\n<div id=\"extended-ad1\" class=\"desktop-only\">\n<div class=\"ad-label\">ChatGPT also said:<\/div>\n<\/div>\n<div id=\"extended2-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<p><i>By mentioning the highest possible price in the shortest amount of time, Agent 2 communicates a results-driven approach. This aligns with my goal as a seller to achieve the best possible outcome for my property.<\/i><\/p>\n<h3><b>Key takeaways<\/b><\/h3>\n<p>The 15-Point Premium Marketing Plan shows that you have a specific\u00a0<a href=\"https:\/\/www.inman.com\/2023\/02\/01\/how-to-plan-your-real-estate-marketing-calendar-for-2023\/\" target=\"_blank\" rel=\"noopener\">action plan<\/a>, you know the market, plus it taps into what ChatGPT thought its most important goal was as a seller, i.e., getting the highest possible price for the property.<\/p>\n<h2><b>Objection No. 3: Will you reduce your commission?<\/b><\/h2>\n<p><b>Seller:<\/b>\u00a0<i>Will you reduce your commission? I see other companies offer commissions as low as one or two percent.<\/i><\/p>\n<h3><b>Agent 1<\/b><\/h3>\n<p><i>Some agents offer tiered commission structures providing various levels of service depending upon your needs. If you\u2019re looking to save on commission, consider choosing a lower service tier that still meets your requirements.<\/i><\/p>\n<\/div>\n<\/div>\n<div id=\"extended-ad2\" class=\"desktop-only\">\n<div class=\"ad-label\">Advertisement<\/div>\n<\/div>\n<div id=\"extended3-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<h3><b>Agent 2\u00a0<\/b><\/h3>\n<p><i>I only work with sellers who want to obtain the highest possible price in the shortest amount of time by using our premium services. If you would like to reduce the commission, I would be happy to give you a referral to a limited services agent who does not offer this level of service.<\/i><\/p>\n<h3><b>ChatGPT\u2019s response<\/b><\/h3>\n<p><i>While Agent 1 offers a flexible commission structure, their response may suggest that they are willing to compromise on the level of service they provide to meet a lower commission. As the seller of an expensive property, I would prioritize hiring an agent who is confident in their ability to deliver exceptional results and is transparent about their services and commission structure.<\/i><\/p>\n<h3><b>Key takeaways<\/b><\/h3>\n<p>While everyone loves discounts, virtually no one wants limited service, especially when they have seen your full-service Premium Marketing Plan. Also, ChatGPT concluded that agents who lower their\u00a0<a href=\"https:\/\/www.inman.com\/2023\/02\/16\/nearly-two-thirds-of-brokerage-sites-arent-displaying-commissions\/\" target=\"_blank\" rel=\"noopener\">commission<\/a>\u00a0might compromise the service they provide.<\/p>\n<h2><b>Objection No. 4: If you want to work with us, you\u2019re going to have to reduce your commission.<\/b><\/h2>\n<p>While this response is similar to No. 3 where the seller asks if you\u2019re willing to reduce the commission, this seller tells you point blank they won\u2019t hire you if you don\u2019t lower your commission.<\/p>\n<\/div>\n<\/div>\n<div id=\"extended-ad3\" class=\"desktop-only\">\n<div class=\"ad-label\"><b>Agent 1\u00a0<\/b><\/div>\n<\/div>\n<div id=\"extended4-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<p><i>I understand your concern about the commission. However, I believe that the services I provide and the results I deliver are worth the commission I charge. My goal is to sell your property for the highest possible price in the shortest amount of time. By investing in premium marketing, negotiation expertise, and a vast network of potential buyers, I can help achieve that goal. In the end, the value I bring to the table should far outweigh the commission, and you\u2019ll ultimately benefit from my experience and dedication.<\/i><\/p>\n<h3><b>Agent 2\u00a0<\/b><\/h3>\n<p><i>Discounters are wonderful. They fulfill an important need in the market for sellers who cannot afford premium service. Would you like me to give you a referral to a limited services agent?<\/i><\/p>\n<h3><b>ChatGPT response\u00a0<\/b><\/h3>\n<p><i>Both Agent 1 and Agent 2 provide valid responses to the seller\u2019s request for a discounted commission, but their approaches differ. Agent 1 focuses on justifying the value of their services, while Agent 2 takes a more offensive stance by not compromising on their commission and positioning their services as premium.<\/i><\/p>\n<p><i>In this context, Agent 2\u2019s response can be seen as stronger for the following reasons:<\/i><\/p>\n<\/div>\n<\/div>\n<div id=\"extended5-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<ul>\n<li aria-level=\"1\"><i>Uncompromising position: Agent 2\u2019s unwillingness to compromise on their commission demonstrates a strong negotiation stance. By not budging on their commission, they are effectively communicating their belief in the value of their services.<\/i><\/li>\n<li aria-level=\"1\"><i>Clear differentiation: Agent 2 clearly differentiates themselves from discount agents by highlighting that they offer premium services for clients who seek the highest possible price in the shortest amount of time. This creates a perception of exclusivity, which can be attractive to sellers who want the best possible representation.<\/i><\/li>\n<li aria-level=\"1\"><i>Confidence in their services: Agent 2\u2019s response exhibits confidence in the quality of their services and the results they can deliver. This level of confidence can be an essential factor in determining their negotiation strength and can reassure the seller that they are working with a top agent.<\/i><\/li>\n<\/ul>\n<p><i>On the other hand, Agent 1\u2019s response, while valid, comes across as defensive. By justifying the value of their services, they may inadvertently give the impression that they are less confident in their negotiation abilities.<\/i><\/p>\n<p><i>Given these points, Agent 2\u2019s response can be perceived as stronger, as it suggests that they are a more skilled negotiator. By taking an offensive stance and confidently asserting the value of their premium services without compromising on their commission, Agent 2 demonstrates their ability to advocate for their position and negotiate effectively.<\/i><\/p>\n<\/div>\n<\/div>\n<div id=\"extended-ad5\" class=\"desktop-only\">\n<div class=\"ad-label\"><b>Key takeaways<\/b><\/div>\n<\/div>\n<div id=\"extended6-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<p>When a client objects and you respond by justifying your position, you\u2019re playing defense rather than offense. The sellers in this scenario were adamant about not hiring you if you refuse to lower your commission. The first response tries to change their mind.<\/p>\n<p>The second response uses what is known as \u201cAgree, counter, close.\u201d In other words:<\/p>\n<ul>\n<li aria-level=\"1\"><b>Agree:\u00a0<\/b>You acknowledge that they aren\u2019t going to hire you; counter by stating \u201cDiscounters are wonderful!\u201d<\/li>\n<li aria-level=\"1\"><b>Counter:<\/b>\u00a0\u201cThey fulfill an important need in the market for sellers who cannot afford premium service.\u201d<\/li>\n<li aria-level=\"1\"><b>Close:<\/b>\u00a0\u201cWould you like me to give you a referral to a limited services agent?\u201d<\/li>\n<\/ul>\n<p>While almost everyone loves discounts, very few people are willing to settle for \u201climited services.\u201d<\/p>\n<h2><b>Objection No. 5:<\/b>\u00a0<b>Will you reduce your commission? John Smith from your office offered to provide the same services at a lower commission.<\/b><\/h2>\n<p>This is one of the toughest objections you will face because you always want to avoid\u00a0<a href=\"https:\/\/www.inman.com\/2023\/02\/08\/is-your-trash-talk-violating-the-code-of-ethics\/\" target=\"_blank\" rel=\"noopener\">criticizing another agent<\/a>, especially in your own office. Fortunately, there\u2019s an excellent way to overcome this\u00a0<a href=\"https:\/\/www.inman.com\/2022\/11\/17\/how-to-combat-the-4-most-common-objections-during-a-market-shift\/\" target=\"_blank\" rel=\"noopener\">objection<\/a>\u00a0by asking two simple questions. Remember, the person asking the questions is in control of the conversation.<\/p>\n<\/div>\n<\/div>\n<div id=\"extended-ad6\" class=\"desktop-only\">\n<div id=\"extended_advertisement6\" data-google-query-id=\"CJ-YiYCxgf4CFU3ShwodAukBhw\">\n<div id=\"google_ads_iframe_\/1018828\/Longarticle_Select_Desktop_BTF_2_6__container__\"><b>Agent 1<\/b><\/div>\n<\/div>\n<\/div>\n<div id=\"extended7-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<p><i>I respect John and his work, but I believe that my approach to selling properties, coupled with my track record of success, justifies my commission rate. I would be happy to discuss my marketing plan, negotiation strategies, and the specific services I provide in detail, so you can make an informed decision about which agent is the best fit for your needs.<\/i><\/p>\n<h3><b>Agent 2\u00a0<\/b><\/h3>\n<p><i>To obtain the highest price possible for your property, you need someone who is a powerful negotiator \u2014 isn\u2019t that correct? If John can\u2019t negotiate a full commission on his own behalf, how effective do you think he will be in negotiating the maximum price for your property?\u00a0<\/i><\/p>\n<h3><b>ChatGPT response<\/b><\/h3>\n<p><i>Between the two responses, Agent 2\u2019s response is stronger for the following reasons:<\/i><\/p>\n<ul>\n<li aria-level=\"1\"><i>Focus on negotiation skills: Agent 2 emphasizes the importance of having a powerful negotiator when selling a property. This draws attention to a crucial aspect of the agent\u2019s role and highlights their own negotiation skills in comparison to John\u2019s.<\/i><\/li>\n<li aria-level=\"1\"><i>Rhetorical question: By asking the seller a rhetorical question about John\u2019s ability to negotiate the maximum price for their property, Agent 2 effectively points out a potential weakness in John\u2019s approach. This can lead the seller to question whether a lower commission is truly in their best interest.<\/i><\/li>\n<li aria-level=\"1\"><i>Assertiveness: Agent 2\u2019s response is assertive and implies confidence in their ability to deliver the best results for the seller. This can instill trust in the seller and encourage them to consider the potential drawbacks of working with an agent who is willing to lower their commission.<\/i><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<div id=\"extended-ad7\" class=\"desktop-only\">\n<div class=\"ad-label\"><i>While Agent 1\u2019s response is respectful and offers to discuss their marketing plan, negotiation strategies, and services, it does not directly address the potential impact of a lower commission on the sale outcome. Agent 2\u2019s response, on the other hand, highlights the importance of negotiation skills and creates a contrast between their own abilities and John\u2019s, making it a more persuasive argument.<\/i><\/div>\n<\/div>\n<div id=\"extended8-block\" class=\"content-block\">\n<div class=\"block-inner clearing\">\n<h3><b>Key takeaways<\/b><\/h3>\n<p>I\u2019ve used this script for over 30 years, and it may very well be the most effective real estate script ever. The secret to using this script is that once you ask your final question, wait for the seller to respond no matter how uncomfortable it is. The old sales adage, \u201cThe first one who speaks loses,\u201d is true and applies in almost every type of negotiation situation.<\/p>\n<p>Mastery of these five scripts will help you successfully overcome most seller commission objections. It\u2019s also important to note why GPT says these scripts are so persuasive because these principles apply to all types of real estate negotiation.<\/p>\n<p>Finally, if you\u2019re having trouble figuring out which scripts work best in various situations, take them for a test drive on ChatGPT, see what it says, and ask it to explain why one script is more effective than the others.<\/p>\n<p><em><span class=\"by\">BY<\/span>\u00a0<a class=\"\" href=\"https:\/\/www.inman.com\/author\/berniceross\/\">BERNICE ROSS<\/a><\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019re having trouble figuring out which scripts work best, take them for a test drive on ChatGPT. Ask it to explain why one script is more effective than the others In 2005, I wrote my book Waging War on Real Estate\u2019s Discounters\u00a0which contained a collection of the very best strategies,\u00a0scripts\u00a0and tactics for overcoming commission [&hellip;]<\/p>\n","protected":false},"author":1401,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_expiration-date-status":"","_expiration-date":0,"_expiration-date-type":"","_expiration-date-categories":[],"_expiration-date-options":[]},"categories":[9,59],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/71801"}],"collection":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/users\/1401"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=71801"}],"version-history":[{"count":2,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/71801\/revisions"}],"predecessor-version":[{"id":71803,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=\/wp\/v2\/posts\/71801\/revisions\/71803"}],"wp:attachment":[{"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=71801"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=71801"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.myewm.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=71801"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}