Mortgage
Sales Assessment Results

"I'm not sure if now is the right time for us to take on a mortgage."

I get it, rates are high right now. Rent however, is 100% interest

The response does acknowledge the objection about timing, which is good. However, it lacks depth in addressing the prospect's specific concerns about taking on a mortgage. The comparison of rent to interest is a common argument, but it could come off as dismissive rather than empathetic. There’s no exploration of the prospect’s situation or an invitation for further discussion, which misses opportunities for curiosity and discovery. Additionally, the tone might be perceived as slightly flippant instead of collaborative or reassuring. A more effective response would involve asking questions to understand their hesitations better and providing tailored solutions or insights based on their specific needs. Overall, it needs more engagement and value exploration.

"I've heard that mortgage rates are expected to drop soon; why should we commit now?"

To secure the house before the competition who has been waiting buys it

The response addresses the concern about waiting for lower rates by emphasizing the urgency of securing a house before competition increases. However, it lacks depth and does not provide a compelling reason for committing now beyond competition. It could benefit from exploring the current market conditions, potential risks of waiting (such as rising prices), and perhaps offering a way to mitigate the concern about rates, like a lock-in option. Additionally, it misses an opportunity to ask further questions to understand the prospect's needs better and build rapport. Overall, the communication is clear but could be more persuasive and solution-focused.

"Your fees seem higher than other lenders I've spoken with; can you justify that?"

I pick up when you text, call. My service is next to none

The response does not effectively address the prospect's concern about fees. Instead, it focuses on availability and service, which does not justify the higher costs. Clear communication is lacking, as the message seems informal for a mortgage industry context. There is no closing technique or solution-oriented approach evident here, and the salesperson does not ask any questions to explore the prospect's needs or concerns further. Active listening is missing, as the response does not acknowledge the prospect's perspective about fees. Overall, while the intent to emphasize service is noted, it fails to connect to the specific objection raised. To improve, it would be crucial to acknowledge the fee concern directly, explain the value behind those fees in terms of service or product quality, and then invite further discussion to explore how to meet the prospect's needs.

"I need to consult with my partner before making a decision, and they might not be on board."

I completely understand. Should we set up a group call?

This response addresses the objection by proposing a group call, which shows an understanding of the need for collaboration in decision-making. However, it lacks depth in exploring the partner's possible concerns, which could help in framing the discussion more effectively. Additionally, the tone is neutral, but it could benefit from a bit more warmth to build rapport. It would have been helpful to ask a few more probing questions about what specific concerns the partner might have. Overall, while the intention is good, the execution could be improved for a more robust solution-focused approach.

"What if my financial situation changes after we finalize this mortgage?"

Please call anytime to revisit your scenario.

The response is quite lacking in depth and does not effectively address the prospect's concern about potential changes in their financial situation after finalizing the mortgage. While offering a call-back option shows some level of support, it does not provide reassurance or concrete solutions to the prospect's worry. A more effective approach would involve discussing potential options like refinancing or payment adjustments, demonstrating understanding and active listening. Additionally, the tone could be warmer and more reassuring to build trust. Overall, the response missed an opportunity for deeper engagement and a solution-focused dialogue.

"I've had a bad experience with a previous lender; how can I trust your service?"

You’re going to have to trust someone. You were referred to me, and I’m happy to answer any questions you may have

The response fails to effectively address the prospect's concern about trust after a bad experience. While acknowledging that trust is necessary is important, the salesperson does not directly empathize with the prospect's negative experience or provide reassurances regarding their service. The communication lacks warmth and understanding, which is crucial in the mortgage industry where trust is paramount. There are no closing techniques or follow-up questions to encourage dialogue. Improving the response by expressing empathy and offering specific reasons to trust their service could enhance credibility. Additionally, a collaborative approach to discuss the prospect's needs would build rapport. Overall, the response comes off as dismissive rather than engaging or solution-oriented.

"Can you explain why your mortgage terms are better than those of [specific competitor]?"

We don’t charge junk fees

The response is brief and somewhat effective in addressing the objection by highlighting a specific benefit (no junk fees), but it lacks depth and clarity. It does not provide a comparative analysis of terms, which could help the prospect understand the full value proposition compared to the competitor. The tone is somewhat dismissive, missing an opportunity to engage the prospect in a more collaborative discussion about their needs. Additionally, the response could benefit from asking a follow-up question to uncover the prospect's specific concerns about the competitor's terms. Overall, while it touches on a valid point, it fails to explore the value in detail, leaving the prospect without a strong reason to choose your service over the competitor's. Score: 4/10

"I'm concerned about the long-term commitment of a 30-year mortgage; are there alternative options?"

Absolutely, what are your mortgage goals

The response touches on the prospect's concern about long-term commitment by asking about their mortgage goals, which is a good start. However, it lacks depth and doesn't directly address the specific concern regarding alternative options. To improve, you could offer examples of shorter-term mortgages or other financing options, showing you understand their hesitation. Additionally, adding a bit of reassurance about the benefits of a 30-year mortgage could help. Overall, it’s a decent attempt at engaging but needs more substance and clarity to effectively address the objection. Score: 5/10

"I've seen advertisements for lower rates elsewhere; how can you match or beat those offers?"

We are actually better, and here’s why

The response lacks depth and doesn't effectively address the prospect's concern about lower rates from competitors. Simply stating "we are actually better" is vague and fails to provide specific value or insights on how your offerings differ or provide a competitive advantage. There’s no evidence of curiosity or discovery; no follow-up questions to understand the prospect's needs or preferences. Additionally, the tone can come off as dismissive rather than engaging. To improve, consider elaborating on unique selling propositions, asking about the specific offers mentioned, and establishing rapport by showcasing an understanding of the prospect's situation. This will help in building trust and credibility.

"I'm worried about additional costs that might come up after closing the mortgage deal."

We have a worksheet that helps a lot of our clients

The response is vague and lacks depth in addressing the concern about additional costs after closing. While mentioning a worksheet is a good start, it doesn't fully reassure the prospect or provide specific details about what costs might arise or how the worksheet mitigates those concerns. The communication could be clearer and more engaging, possibly by offering to review the worksheet together or discussing common costs that clients encounter. There's no closing technique or invitation for further discussion, which would help in building rapport and trust. Overall, it lacks a solution-focused approach and doesn't explore the prospect's concerns thoroughly. To improve, consider explaining the worksheet's benefits and how it can help the client anticipate and manage potential costs. Asking the prospect about specific costs they are concerned about would also show active listening and curiosity.