banker objections

banker objections

Written By Jeffrey Gitomer

KING OF SALES, The author of seventeen best-selling books including The Sales Bible, The Little Red Book of Selling, and The Little Gold Book of Yes! Attitude. His live coaching program, Sales Mastery, is available at

Finding the real objection is the first order of business.

It’s down there (in the list) someplace. Then (and only then) is successfully overcoming it and making a sale possible. You can overcome an objection perfectly, but if it isn’t the real objection, you’ll be shaking your head wondering why the sale hasn’t been made. When you get an objection, you must qualify that it is true and the only one.

Here are the real objections…

Doesn’t have the money.

Has the money, but is too damn cheap to spend it.

Can’t get the credit needed.

Can’t decide on his or her own.

Doesn’t have authority to spend without budget, prior or someone else’s financial approval.

Thinks (or knows) he can get a better deal elsewhere.

Has something else in mind, but won’t tell you.

Has a friend, connection or satisfactory relationship in the business.

Does not want to change vendors.

Wants to shop around.

Too busy with other more important things at this time.

Doesn’t need (or thinks he doesn’t need) your product now.

Thinks (or knows) your price is too high.

Doesn’t like, trust or have confidence in your product.

Doesn’t like, trust or have confidence in your company.

Doesn’t like, trust or have confidence in you.

Preventing the objection is the real answer. The cure for what ails your sales. Here are two working examples:

Preventing price objections…You know Mr. Jones, many people told us our price is not competitive, but in our experience we found that the customer was confusing price with cost, let me show you why we are the lowest cost even though we may not be the lowest price initially. (You then show cost over a two or three year period that makes you lower, or a comparison of the cost of after-the-sale services. Let prospect sell himself on the price after he has been educated about true cost.)

Prevent the “I’ve got a satisfactory supplier” objection with a testimonial letter… You know Mr. Jones, many prospects we call on already have good relationships with one of our competitors. I’d like to share a letter from a customer who felt just like I’m sure you feel. He thought he had a great supplier, until he gave us a trial order. (show the letter)

Jeffrey Gitomer, author of The Sales Bible and The Little Red Book of Selling. President of Charlotte-based Buy Gitomer, he gives seminars, runs annual sales meetings, and conducts Internet training programs on selling and customer service at He can be reached at 704/333-1112 or e-mail to

r 2006 All Rights Reserved. Don’t even think of reproducing this document without written permission from Jeffrey H. Gitomer 704/333-1112