December 14, 2018

When You Hear “Zestimate”…

POWERFACT: Having the right tools, words, and skills to overcome any objection gives you a competitive edge.

We recently had a Power Agent member share with us one of our weekly coaching calls how often she hears, “I already know what my house is worth, I got a Zestimate!”

After the collective groan from the members on the call, Darryl launched into an impromptu objection handling dialogue that we wanted to share. Here it is:

Zillow Zestimate Objection Handler Dialogue:

“I know what my home is worth – I have a “Zestimate!”

“I appreciate that Mrs. Hunna Hunna. You know Zillow is in the marketing business, not the licensed listing and selling aspect of real estate. In the state of ___________, you need to be a licensed individual. Zillow is not that.  The reason they call it a Zestimate – or Zillow Estimate is because that is exactly what it is – an estimate, not a real number.

A homeowner can make a tremendous mistake if they use that estimate. Let me explain. When you sell your house, and a buyer wants to buy it, they’re going to give you 20% of the sales price and go to a bank for a mortgage for the other 80%. So, when you think about it, the bank has more invested than the individual buyer, and banks don’t do ‘zestimates’. They send out a licensed appraiser who has to go through certain levels of training and uses a specific formula to come up with an objective fair market value for a home.

As you can see here, I have a letter from an appraiser asking me to help find comps in the area for an appraisal. The reason he did that is that as a licensed real estate agent in the state of ___________, I have access to all the comparable properties in our area. In fact, I’m making the comps. Why? Because I’m selling the houses. What I’m going to show you is something you won’t see from Zillow, because they don’t back up their estimates. We’re going to look at actual comps, Mr. and Mrs. Hunna Hunna, that the actual bank is going to look at, and together we’ll determine the number we think the bank is going to come up with. Sound good?

Power Agents®, you’ll find a printable version of this dialogue in the Objection Handling tab of your Classroom. 

If you head to the Prospecting tab – you’ll find nine additional dialogues to help you build your business next year including: 

  • Call Intro to Farm Neighborhood New
  • Door Knocking For Your Farm Neighborhood New
  • Expireds
  • FRBO (For Rent By Owner)
  • FSBO
  • FSBO Voicemail
  • Old FSBOs & Expireds New
  • Orphan Adoption
  • Book of Business Update (Use with Updating information letter)

Click here to download them all. 

Not yet a Power Agent®? Did you know that for less than a dollar a day, you can have access to hundreds of marketing, prospecting, and objection handling tools – live weekly coaching, podcasts, webinars, and more?  Start your Power Agent® free trial and have total access to every tool we have including letters, dialogues, training tips, webinars on demand, eBooks, and marketing tools.

If you’re ready to have everything you need to handle whatever the market tosses your way — get started today! 

Need help? Contact our team today at (800) 395-3905!

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