KGCI: Real Estate on Air - Overcoming Interest Rates Objection

Episode Date: February 24, 2025

What is going on and welcome to the Real and Raw show? I am your host, John Marone. Thank you so much for tuning into today's episode. If you haven't done so already, please take a second to like, subscribe, and write a review. This show is based around everything, real life, real estate, and real tools for real change. So if you're ready to go ahead and have some real change in your life,

Get your pen and paper and let's get real and raw. Let's go. What is going on and welcome back to another episode of the Real and Raw show. Today I want to dive into something I know you are hearing every single time you jump on the phone to make dials. And this one thing that you are hearing is probably stopping you from making the amount of money you could make and probably stopping you from even getting on the phones because you're tired of hearing it. If you want to know what that is and how to do you are. overcome it. Stay with me in this entire podcast. But before we jump into that, I want to start doing something a little bit different on some of these podcast episodes. I want to give shoutouts to

some of our real estate mastery members. So every single week, we do win of the week for a lot of a real estate mastery members. So every single time we have a call on Wednesdays. We have a win of the week where they drop their wins in throughout the week. And then we pick somebody to celebrate them. And so this past week, it's our man, Jeff Wither, got the win of the week. I was going to read it right off my phone here because it's way easier. So Jeff Withers, he's been with us now for about two years coaching. So shout out to you, Jeff Wethers over there in Denton, Texas. If anybody needs a real estate agent over in Denton, Texas, that's your guy. So his win in the week is he closed five deals that he has closed. That is incredible.

That is absolutely incredible. 11 deals closed. And Jeff Withers, congratulations. Win of the week goes to you, my man, love having you as a client. So the thing that we want to jump into today is something I know that we're all facing. No, I was just in Waco, Texas, speaking for Chip and Joanna Gaines. You guys don't know who they are. They own Magnolia Network. They were one of like the first flip or flop or renovation type of shows on HD TV. Now they have their own network and basically they own all of Waco. So we went there. We did a conversion day for their clients or for their agent, should I say. It was absolutely amazing.

People there were phenomenal. If I got anybody listening right now from Waco, Texas or part of Magnolia real estate, shout out to you, Magnolia. You guys are incredible human beings. And they also gave us a little gift, as well as we got a little extra gift where we got some cupcakes from one of the bakers out there that Magnolia has. So shout to you guys. But anyway, so we were there. And on this conversion date, as you guys probably know, we go.

through a whole process of mindset and skill set training, tapped into human psychology and human behavior. Well, we had great results. And I brought something to their attention that I bring up almost every single conversion day. I think it's about time I bring it up to you guys. And that is you are not running from the objection right now of interest rates are too high. That is just where we're at in the market. And so there's no way to get, like, get away from it. Or, hey, waiting for the market to shift. Or, hey, really, there's no. inventory out there. All three of those things, unfortunately, you cannot run from right now. So if you can't run from it, what do you do? Now, some of you guys, because you can't run from it,

you're just ignoring or avoiding the phones or you're not putting as much effort into it as possible because you know you're going to hear that and you're not sure how to overcome it or you're tired of hearing it. You're tired of getting turned down because of it. There is a way around this. And it's a proven way that we teach all of our clients to go ahead and, didn't actually use when they're calling. And I'm going to give it to you guys right now. So the first thing is this. Never get into a fight over the phone when they tell you that.

What I mean by that is a lot of times, okay, hear me out, a lot of times as agents, we want to flex with how much we know, right? We want to flex with how much we know before we actually can get them to know that we care about the situation and not even that. A lot of times we're asking, where we're saying how much we know before they even know us, right? What do they say? No one cares how much you know until they know how much you care.

So the way humans work is they follow through what they believe most. Well, if somebody believes interest rates are high, instead of fighting with them saying, yeah, but you can do a two-for-one buy-down, you could date to rate marriage-hout. None of that is what is needed right now. All those things are great solutions once value is added. Okay.

but the exact way that you need to overcome the objection of interest rates are too high is this. You have the client who says, I'm not sure if I'm buying right now, interest rates are too high. You respond with, look, I totally get it. Why don't we do this? Let's just put interest rates going up, going down to the side for a second. Pause. So what did I just start looking in the first place? Okay, I'll do it again.

I'll do a few times so you guys could. So the first thing I do is put my hands up. Right. You should take a step back. And I'm sitting in chair right now. So I'm not going to do that. But my hands up was like, look, I totally get it. Why don't we do this?

Let's put interest rates going up, going down to the side for a second. And I literally act like I'm picking something up and I put it to the side for a second. Then I pause. And then with empathy and curiosity, I say, but why did you start looking in the first place? Then they're going to open up and say, yeah, you know what, we're trying to get into a bigger house. Hey, we're trying to get into a smaller home, trying to get closer to this, closer to that. From there, then I can go right into our proven to work scripts.

But I cannot get into those scripts until I use this objection handler. So I'll do it again so you could hear it. You can understand it because it's not just about what we say, but it's also how we say it. It's how we deliver it, right? So the client says, I'm just not sure if I'm buying right now. Interest rates are too high. Hey, look, I totally get it. Why don't we do this?

Let's just put interest rates going up, going down to the side for a second. So what had you just start looking in the first place? And from there, an immediate wall will come down and the reason will come out. Now, here's the big reason why this is important. Because all we're trying to do and write this down is find the, emotion that creates motion. Find the emotion that creates motion. And if you as the agent can take a deep enough higher value emotion and it could outweigh the excuse, that's where you win. The excuse right now is interest rates. Okay. Excuse right now is inventory. Now some of this

is true, right? I get it. Interest rates are high. It might affect people's buying power. I get inventory is low, which isn't allowed on the market for people to choose. I get all that. But when you have a deep enough reason, try to get closer to something, get kids into a better school system, trying to go ahead and get a bigger home because they're having a baby life event, whatever it might be happening. When you have a deep enough meaning, it will outweigh any excuse. And now we have grounds to have conversations. And I always follow it up with this. Look, I'm not going to ask you to go buy house tomorrow.

So I want to make sure when you do, you get the right person you trust in your corner. Does that work? Yeah, that works. So let's do it again, okay? Let's do it again so you guys could hear it. And I want you to practice this and I'll get into practice part in a second. But you got to get used to doing this. And I'll talk about psychology after I go through it one more time.

Client says, I'm not sure if I'm buying right now. Interest rates are too high. Agent, you respond with, look, I totally get it. Why don't we do this? Let's just take interest rates going up, going down, put them to the side for a second. So what, I just start looking in the first place? And that is your goal to overcome the I am waiting till interest rates come down, objection, or the inventory is low objection.

You use that for the same exact objection. You want to use that handle for that exact objection. Same exact one. Now here's another thing that's not sure if you're aware of. And this is something we've been finding out more and more recently. Have you ever had somebody tell you? you, hey, I'm 12 months out. Hey, I'm 18 months out. And what do you normally do with that? Oh, okay, great, great time to start looking. Here's what I want you to do instead. When someone says

their X time frame out, you respond with one simple question. Interesting. Okay, 11 months. Tell me why 12 months by that time frame. And what you'll see is behind curtain number one, behind that curtain. The reason why it's a time frame is 12 months, 18 months, because that is when they think the market will start to shift. So time frame is. not the objection. It's the market shifting and waiting for it, which is interest rates are too high, inventory is not there. So a lot of times it's 12 months out or 18 months out, guys, hope the light bulbs are going off right now. It is not the objection. The objection is behind that, which is interest rates or market, not conducive to them wanting to buy or wanting to sell, whatever it might be. So whenever

someone says they're X time frame out, you must ask that follow-up question. Interesting, why 12 months? Why 18 months? Now, in some cases, yes, there's, you know, waiting for a a kid to get out of school, waiting for retirement, waiting for my job to transfer me. Those things are all relatively true, and those things do happen. But you're going to find a minimum 50%, minimum 50%. They give you time frame. That's not the excuse, the excuse of the objection is going to be interest rates or market. So if you're trying to battle the objection of timeframe, when time frame is not the real

objection, you won't win. Right? You won't win. And so that is crucial for you guys because I don't want you trying to overcome objection. It's not really the objection. And the other side of this is that you have to realize and understand that it is up to you to truly help dig into this person's situation to provide true value. And you cannot get there if you don't try to overcome these objections.

Now, if you use this objection and handle it a hundred times, you use this a hundred times right? If you use the same objection handler a hundred times and you get one yes, is it worth it? Everybody's going to say yes. But if I were to watch you every single day, your actions will show me something different. You tell me that, yeah, it's worth it. If I have to use this objection handler 100, 200 times to get one yes, I'm willing to do it. But I am not seeing that. I'm hearing it, but you're not showing it. So show it because I promise you it is worth it. And the coolest part about this all is that it becomes a lot easier to do. And here's what I mean by this is that if you are sitting there and you are practicing over and over again,

you will start to subconsciously come up with this. So that's the last piece of this is that don't just take what we learn here on today's podcast. I'm going to go use it on my calls. No, no, no, no. Don't use it on your calls right now. First practice the hell out of it. Get so good that when the brain hears interest rates, inventory, market, your brain automatically subconsciously in the middle of second responds with, hey, look, I totally get it.

Versus the thing that you're probably doing right now that's not working. If you don't practice it, your brain can't subconsciously create the next action step, the next question. When you do it over and over and over and over again and over and over and over again, your brain now will hear those words and it will trigger your brain to subconsciously create the objection handler that we just went over. But if you don't practice it and you're just waiting for the moment to then come out with it, your brain's going to go back into what it knows, knows, right?

We are pattern. We are pattern driven human beings. So right now your brain is built off a pattern that when they hear that, it says something differently. Well, that's something differently. It's not working for you right now. So time to start using this. Practice it so much.

Now when your brain hears it, it comes out with, look, I totally get it. Why don't we do this? Right? Interstate's going up, going down, put it to the side for a second. So I just start looking in the first place. I'll repeat that for the people in the back seats that need to hear this, okay? If you are thinking that you're going to use this objection handler to overcome the objection

of anything at this point, right? If you are thinking that you are going to use any objection handler on the phone without practicing it over and over and over again and think it's going to work, you are sadly mistaken. We are built off of patterns. When your brain hears that objection, interest rates, market, you know, inventory, when they hear that objection subconsciously, it is going to respond in a way that it's been responding. Well, the way that it's been responding has not been working. So you must train it before it's in that situation to respond a different way, a way that

works, which is a way that I give you guys every single time we do a video, a podcast or a coaching call. Then you practice it, practice it, practice it. Now, remember, we're built off of patterns. The brain hears the inventory, market, interest rates. And now at a subconscious level, in a millisecond, it responds with the correct objection handler to drive the correct results. With all this, you must go back in practice. You know, think about. for baseball, right? So if, let's just say, someone's about to face a pitcher

that has a really good curveball, would you say, you know what? I know I'm facing this pitcher. They got a really good curveball. Hey, in a batting cage, throw me all fastballs. No, you say, throw me that curveball over and over

and over and over again. Why? So your brain knows that when that curveball comes, what to do without you even thinking about it. Right? Same thing with football, right? Two minutes trail. They reason they run it, run it, run it, run it, run it, and they run it against schemes that they know they're going to be seeing is so that they don't have to take the time to guess what's happening.

They know, here's what I'm going to run, here's the defense is going to run, here's how I need to go ahead and overcome this and get our first down or get our touchdown. But they do it over and over and over again. So in a moment that it actually happens, there's not a heavy emphasis of energy trying to think about what to do because you did it before it even happened. the objection handler works. You've got to be willing to do it a hundred times to get one yes. By the way, it's going to work a lot more than that. And you've got to be willing to have situational practice. If you focus on those three things in this quarter, you will win.

The objection of interest rates, inventory, market is not going anywhere. So now it's up to you to respond differently to create a different result. Because what you're doing right now may not be working. So to continually do this, the way that you're doing it and getting the same results, I believe they call that insanity. So use the objection handler of when you hear market crashing or when you hear interest rates, use the objection handler of, look, I totally get it. Why don't we do this? Let's just put interest rates going up, going down to the side for a second. Why did you start looking in the first place?

And you do that over and over again. You practice it. I promise you your results will show. Now, before I let you guys run, I want to put this out there to you guys. If you are looking to dominate your real estate business and in your life, then do me a favor. And I want you guys to go look at our coaching. Okay. We have three options.

We got the tribe, which is one conversion call a month. We got to pay per close or pay at close. You don't pay us anything except for a start of fees. If you pay us 9% commission, whenever you guys close a deal, or you pay monthly. I'll tell you what right now, if you paid for the year in full, there's going to be, you know, a lot of people hide their courses from you. If you paid for the year in full for our coaching, it's $3,800. How much is your average commission?

How much your average commission? Right. Guarantee you it's a minimum $5,000. It's probably more like 10, 15, 20, $30,000, right? 30,000 people were probably in California, right? But like, it's at least $10,000. So our coaching for the entire year, if you paid versus doing paper clothes, It's less than a transaction.

It's a quarter of a transaction. If you think that we could help you close more than one transaction extra and provide you some systems, processes, and different documents and different things to really scale your business and scale your life, if you think that we could do that for you, go to this website. It's go real estate mastery.com forward slash coaching. Go real estate master.

dot com forward slash coaching look at those three options my opinion is go all in you know you want to be listening to this last 20 minutes of podcast if you don't think we had value to you have said it to you probably before but go sign up stop waiting procrastination is not real the story you tell the thing you're not doing is the real problem maybe we'll probably have another podcast about that so go to go realestatemastery dot com for slash coaching or hit me up on instagram at real john morone at real john morone to my DMs and we will get you to link for your coaching. Also, if you have any questions, we could also book a call. Okay. So on that site, you can go look at the coaching, look at all of our success stories, look at all of our case studies. Look how we made $33 million in commission,

you know, with our clients in real estate. Look at all that. Go sign up. But if you need a call, it's on there. Thank you guys for tuning in. I'm going to enjoy the rest of my Alani new witch's brew. It's pretty damn good. But until next week, guys, like I always say, don't wait for door of opportunity to open, go kick that damn door down and take what is yours.