How to respond to a client's concerns about the cost of your services?

“Your fee is too expensive.”

This refrain echoes through various professional fields, from real estate agents to business development managers and property managers. When faced with this objection, what steps can you take to defend your fee?

Here are four simple strategies:

Establish value and ROI: Instead of solely focusing on the price, emphasise the potential value your service can bring to the client. Understand their objectives and illustrate how your service can deliver a significant return on investment (ROI) that justifies the fee.

Question importance: Delve deeper into the client's needs to gauge the significance of the service to them. If it's essential, they may be more open to considering a higher price for quality. Alternatively, if they express hesitation, highlight other areas where they're already investing significantly, showcasing the disparity in their valuation.

Offer alternatives: Provide flexibility in pricing by presenting different options that better suit the client's budget or risk tolerance. This could involve proposing a base fee with additional performance-based add-ons.

Be prepared to walk away: If the client remains adamant about a lower budget that compromises the quality or effectiveness of your work, be willing to decline the project. Emphasise that it's preferable not to undertake a crucial task if it can't be executed properly, reinforcing the value of your expertise and standards.

With @realty we offer an advertise now pay later plan that sellers can use to create the marketing plan they really want and pay for it after the sale of your property. This is a great and affordable option for sellers.

Could use a boost or some guidance? Our in-house performance coach is here to support you on your path to success! If you are encountering challenges with clients, such as handling objections like the one mentioned above, our coach can provide valuable insights and strategies to help you navigate those situations effectively. Don't hesitate to reach out and leverage our expertise to overcome any obstacles you may face.