mortgage broker
Sales Assessment Results by David Madrid
46
Needs Improvement
10 questions
Maximum score: 100
Completed in
Let’s get real here: your performance is underwhelming. An average score of 4.6 is a clear indication that you're not hitting the mark. You’re not just missing the boat; you're barely on the dock. Your responses show a lack of depth and engagement with prospects, especially when it comes to addressing their specific concerns about budget, timelines, and service comparisons. You need to stop skimming the surface and start diving deeper into your prospects' needs. The patterns are obvious: you often fail to ask follow-up questions or provide tailored solutions, which is a critical misstep in sales. You need to practice SPIN Selling and Consultative Selling to improve your questioning techniques and engage more meaningfully with your prospects. Remember, understanding their Situation and Problems is just as important as providing solutions. Your coaching moment? Sales is not just about talking; it’s about listening, understanding, and building a connection. Start prioritizing your prospects’ needs, and you'll see your scores—and success—soar.
Question Breakdown
1.
0
/ 10Question:
"I'm concerned about how this mortgage will affect my monthly budget given current rates."
Answer:
That's a great question, let's find out.
Feedback:
The response lacks depth and fails to address the prospect's concerns about their budget and current interest rates. It does not demonstrate curiosity or discovery, nor does it explore the value of the mortgage solution being offered. Instead of engaging the prospect in a meaningful conversation, it opts for a vague approach that dismisses the immediate concern. There’s no attempt to reassure the prospect or provide specific insights related to their financial situation, which is critical in the mortgage industry. A more effective response would have involved asking follow-up questions to understand their budgetary constraints or providing relevant information about how the mortgage options can be tailored to fit their financial needs.
2.
3
/ 10Question:
"Can you explain how your service levels compare to my current lender?"
Answer:
We are here to help guide you step by step in the home buying journey. Many of our successfully clients have become homeowners in a timeframe much faster than expected with our proven 6 step home buyer process.
Feedback:
The response does not directly address the prospect's request for a comparison of service levels with their current lender. While it mentions a guiding process and success, it lacks specific details or metrics that would allow the prospect to understand how your services stack up against their current lender. A more effective approach would involve asking the prospect about their current experience and then highlighting how your services differ or improve upon that experience. This would demonstrate active listening and provide a clearer value proposition tailored to their needs.
3.
6
/ 10Question:
"What's the estimated timeline for approval? I really need to finalize this quickly."
Answer:
Our home loan pre-approvals are done within 24hrs of you submitting our home buyer questionnaire and the required documents.
Feedback:
The response effectively addresses the prospect's concern about the timeline for approval by providing a specific timeframe for home loan pre-approvals. However, it could benefit from further engagement, such as asking the prospect about their timeline or any specific deadlines they have in mind. This would demonstrate curiosity and active listening, allowing for a more collaborative approach. Additionally, mentioning any factors that could affect the timeline, such as document readiness or communication, would enhance the reassurance and clarity needed in the mortgage industry.
4.
5
/ 10Question:
"I’ve heard mixed reviews about mortgage brokers. How do you ensure customer success?"
Answer:
We have been in lending since 2015. We have mastered the processes of a client journey to discover any potential challenges upfront. We take control of the journey by identifying any potential challenges in the beginning to ensure a smooth transaction.
Feedback:
The response provides a foundation by mentioning experience in lending and a focus on mastering client processes. However, it lacks direct engagement with the prospect's concern about mixed reviews. To enhance effectiveness, the salesperson could have acknowledged the prospect's concern, provided examples of how they specifically address challenges, and invited the prospect to share their specific worries. Additionally, mentioning customer testimonials or success stories could have built more credibility and reassurance. A more personalized approach would help in establishing trust and demonstrating commitment to customer success.
5.
7
/ 10Question:
"How do you handle unexpected changes to interest rates while my loan is being processed?"
Answer:
We monitor mortgage rates daily and we maintain communication to ensure we are locking your rate at the best possible time. If there is any major change where rates improve after locking your loan we can renegotiate for a better rate with the lender.
Feedback:
The response effectively addresses the prospect's concern about handling unexpected changes to interest rates by stating that you monitor rates daily and maintain communication. However, while it mentions renegotiating for a better rate if rates improve, it could be enhanced by explaining the steps you take to lock in rates and how you keep the client informed during the process. Additionally, asking the prospect about their specific concerns or experiences with rate fluctuations could foster a more collaborative atmosphere and reinforce trust. Overall, the response is informative but could benefit from deeper engagement.
6.
4
/ 10Question:
"I want to make sure this fits into my long-term financial planning; what’s the expected ROI here?"
Answer:
Real estate is cyclical so home equity values will increase and decrease over time. We are unable to provide an expected ROI figures. However, we take the last 40yrs the ROI our country has experience has been incredible.
Feedback:
The response provides some context about the cyclical nature of real estate but falls short in addressing the specific concern about long-term financial planning and expected ROI. Saying you are unable to provide expected ROI figures may come off as dismissive, and it does not engage the prospect's need for concrete information to help them make a decision. Instead, it would be more effective to discuss historical trends in real estate values while also inviting the prospect to share their financial goals. This could lead to a more tailored conversation about how a mortgage can fit into their long-term plans. Acknowledging the prospect's need for clarity on ROI and providing a more detailed analysis or example relevant to their situation would strengthen the response considerably.
7.
4
/ 10Question:
"Will switching to your services cause any disruption in my current mortgage plan?"
Answer:
With the proper planning and expectations I am confident to say that you won't experience any issues.
Feedback:
The response provides a vague assurance that there won't be any issues but lacks specificity on how the transition will be managed to prevent disruption. It fails to explain what 'proper planning and expectations' entails, leaving the prospect with unresolved concerns. A more effective response would involve outlining a clear transition plan, addressing potential disruptions directly, and inviting the prospect to share specific worries or experiences related to their current mortgage. This approach would demonstrate active listening and build trust through transparency.
8.
4
/ 10Question:
"I’m worried about potential hidden costs that could arise post-closing. What should I watch for?"
Answer:
Our goal is to ensure we have raving fans. When we review our estimated figures we are going conservative to ensure things only get better. There is NO post closing surprises.
Feedback:
The response attempts to create a positive impression by stating the goal of having 'raving fans' and assuring the prospect that there are 'NO post closing surprises.' However, it falls short of directly addressing the prospect's concern about hidden costs. The phrase 'review our estimated figures' lacks clarity, as it does not explain what those figures entail or what specific hidden costs the prospect should be aware of. It would have been more effective to detail common hidden costs in mortgages, such as property taxes, insurance, or potential fees, and encourage the prospect to ask questions about specific concerns they may have. Engaging the prospect in a more informative conversation would build trust and demonstrate transparency, which is crucial in the mortgage industry.
9.
7
/ 10Question:
"How will you support me if there are issues after the mortgage is finalized?"
Answer:
We are here from the start to finish if any potential challenges arise. Post closing we follow up with you after 2 months once you're 1st payment is due and connect again 6 months and annually for a mortgage review.
Feedback:
The response effectively assures the prospect that support continues beyond the closing of the mortgage, outlining specific follow-up timelines (2 months, 6 months, and annually). This demonstrates a commitment to customer service and proactive communication. However, it could be improved by addressing potential specific issues that might arise post-closing, such as payment problems or changes in financial circumstances. Additionally, inviting the prospect to share any concerns they might have about the post-closing period would enhance engagement and show active listening. Overall, it's a solid response, but more depth in problem anticipation and collaboration could elevate it further.
10.
6
/ 10Question:
"I need reassurance that my personal financial information will remain secure throughout this process."
Answer:
We have banking level security to ensure your personal data is secured. Also, we do not share any of your contact information with anyone or vendor outside of your loan approval.
Feedback:
The response addresses the prospect's concern about the security of their personal financial information by mentioning 'banking level security' and clarifying that contact information will not be shared. However, it could be improved by elaborating on specific security measures or protocols in place (e.g., encryption, data access protocols) to enhance trust. Additionally, asking the prospect if they have any specific concerns or experiences related to data security could further demonstrate active listening and engagement. Overall, while the response provides some reassurance, more detail and interactivity would strengthen it significantly.