Mortgage Lending
Sales Assessment Results
56
Needs Improvement
10 questions
Maximum score: 100
Completed in
Your performance shows some solid foundations, but let’s be real, you're lingering in the mediocre zone with an average score of 5.6. The good news is you demonstrate a willingness to engage and ask probing questions, which hints at your potential for developing relationships through consultative and solution-focused selling. However, you consistently fall short in showcasing specific value and depth in your responses. That’s a missed opportunity. You need to step up your game in acknowledging objections with concrete data, testimonials, and a more compelling narrative. Right now, your responses often lack urgency and a clear call to action, which are vital for closing.
To elevate your skills, dive deeper into the SPIN Selling and Consultative Selling techniques. These will help you sharpen your questioning strategy and build the rapport needed to uncover true customer pain points. Remember, it's not just about asking questions; it's about creating a dialogue that leads to real solutions.
Here's your coaching moment: Don’t just scratch the surface—dive into the depths of your prospect's needs. Every interaction is a chance to weave a story that illustrates the value of your offering. Show up with confidence, be curious, and turn those conversations into connections. You’ve got this!
Question Breakdown
1.
6
/ 10Question:
"I'm concerned about the long-term ROI of this mortgage solution compared to others I've seen."
Answer:
What exactly is your concern so I can try to make a comparison that is accurate and informative for you. I want to make sure you fully understand the benefits of my solution and how they will affect you for the longevity.
Feedback:
The response shows a good start by inviting the prospect to elaborate on their concerns, which indicates active listening and a willingness to engage in a deeper conversation. However, it lacks a direct acknowledgment of the objection regarding ROI and doesn't provide any immediate value or insight that could help alleviate the concern. A more effective approach would include a brief mention of the unique benefits of your mortgage solution, possibly backed by data or testimonials, to pique interest while still asking for more specifics. Additionally, incorporating a closing technique or summarizing potential long-term savings would strengthen the response. Overall, the communication is clear and open, but it needs more value exploration and a solution-focused approach.
2.
5
/ 10Question:
"Our current lender has been with us for years; can you guarantee a smoother transition?"
Answer:
I can guarantee. I will try my best to compensate for his deficiencies. What exactly did you like about working with your current lender and what did you not like working with him? This would be the best way for me to address your needs appropriately.
Feedback:
The response attempts to address the customer's concern by asking about their current lender's strengths and weaknesses, which shows curiosity and a solution-focused approach. However, stating 'I can guarantee' without a clear plan or context may come off as over-promising and could raise skepticism. Instead, it would be more effective to acknowledge the value of their long-term relationship and then present specific steps or benefits that would ensure a smooth transition. Overall, the communication lacks a certain level of professionalism and clarity and could benefit from a stronger closing technique that reaffirms commitment to service quality.
Score: 5
3.
7
/ 10Question:
"How do I know your rates are competitive enough to justify a switch right now?"
Answer:
I have access to the raw pricing on wholesale side of lending. Typically, I am a half percent lower than the national average. I would love to do a professional assessment and see how much my proposal will save you to make sure it’s worth it to you.
Feedback:
The response effectively addresses the concern by providing a specific metric (half percent lower than the national average) that helps to build credibility. However, it could have benefited from a bit more curiosity and discovery by asking the prospect about their current rates or what specific factors they are considering in their decision-making process. The tone is professional, which is appropriate for the mortgage lending industry. Additionally, the closing technique could have been stronger by emphasizing urgency or offering an initial consultation to explore options further. Overall, it's a solid response, but it lacks a bit of engagement and exploration of the prospect's specific needs.
Score: 7
4.
5
/ 10Question:
"The compliance requirements are becoming a headache; how does your service ensure we stay compliant?"
Answer:
We are a very reputable company that has a good structure set up to avoid compliance issues and make sure you’re protected just as well as us. What is your main concern so I can make sure it’s addressed.
Feedback:
The response provides a general reassurance about the company's reputation and structure regarding compliance, but it lacks specific details that address the prospect's concern directly. It would be more effective to highlight specific compliance features of the service or provide examples of how the service has helped other clients stay compliant. The follow-up question is a good attempt at curiosity and discovery, but it could be more targeted to elicit specific concerns about compliance. Overall, there's a lack of depth in demonstrating value and a solution-focused approach, as well as not fully building rapport with the prospect.
Consider integrating a more consultative approach to better address the implications of non-compliance and how your service specifically mitigates those risks.
Score: 5
5.
6
/ 10Question:
"I've heard mixed reviews about your company's market reputation; how can you address that?"
Answer:
I can totally emphasize with your concern. Sometimes people’s work ethics do not match up with other professionals. If you personally search my license status and the reviews that I have thus far, you will see I have a five star rating without any complaints. I can ensure you that I will continue to be professional and provide you the best service possible to protect my reputation to make sure you are well taken care of. I want you to feel comfortable with moving forward.
Feedback:
The response effectively acknowledges the prospect's concern about the company's reputation, which is a good start in addressing the objection. However, it could be improved by providing more context about the company's overall reputation beyond just the salesperson's personal rating. While the salesperson's five-star rating is impressive, it doesn't necessarily address the mixed reviews about the company as a whole. Additionally, incorporating a storytelling element or a reference to a positive customer experience could help build trust. The tone is professional and empathetic, but it lacks a collaborative approach that invites further dialogue. Asking the prospect if they would like specific examples of positive reviews or testimonials could enhance the curiosity and discovery aspect. Overall, it’s a solid response but could use more depth and emphasis on the company's reputation alongside personal credentials.
6.
5
/ 10Question:
"Given the current economic climate, is now really the best time to consider a new mortgage provider?"
Answer:
It all depends what your current situation is and what your needs are. I can reassure you that we are a very reputable company that’s going to improve your financial situation. It’s always good to have a second proposal or something to compare to make sure you are being offered the best terms possible from your current lender.
Feedback:
The response starts on the right track by acknowledging the prospect's concern about the economic climate, which is crucial in mortgage lending. However, it lacks depth in addressing the objection. While mentioning the company's reputation is good, it doesn't provide specific value or urgency related to the current economic conditions. It would have been more effective to ask insightful questions to uncover the prospect's unique situation and needs, which aligns with both SPIN and Consultative Selling approaches. The suggestion of a second proposal is useful, but it could have been framed in a way that emphasizes immediate benefits and possibly creates a sense of urgency. Overall, the tone is professional, but it could use more engagement and curiosity about the prospect's situation to enhance rapport.
Score: 5/10 because it touches on key points but misses a more tailored and solution-focused approach.
7.
6
/ 10Question:
"Our budget is tight this fiscal year; can you work with our financial constraints?"
Answer:
Yes, tell me more in depth what your budget is so I can come up with the proposal that will accommodate. I want to make sure you feel comfortable before moving forward and then I can meet all your needs.
Feedback:
The response shows a willingness to understand the prospect's financial constraints, which is a good approach. However, it lacks a bit of depth in addressing the concern effectively. Instead of simply asking for more details about the budget, the salesperson could have acknowledged the tight budget situation and provided some preliminary options or solutions that could work within those constraints. This would demonstrate a solution-focused approach and show that the salesperson is already thinking about how to add value. Additionally, incorporating a closing technique, such as suggesting a follow-up meeting to discuss tailored solutions, could have strengthened the response. Overall, while the tone is appropriate and it invites further discussion, the response could be more proactive in exploring solutions.
Score: 6
8.
5
/ 10Question:
"Can you provide evidence that your solution will adapt if our needs change in the future?"
Answer:
Yes I can provide you with a proven track record of how we came up with bulletproof solutions to eliminate future problems. Let’s take the time to find out what your worried about changing to make sure we put a bulletproof plan together that will prepare you for the inevitable.
Feedback:
The response acknowledges the concern and attempts to provide reassurance about adaptability. However, it lacks specific evidence or examples to substantiate the claim of a "proven track record." The phrase "bulletproof solutions" is somewhat vague and may come off as overly salesy without concrete details. The offer to discover specific worries is a good approach, but it could benefit from more engaging questions that encourage the prospect to share their concerns. Overall, the communication could be clearer and more focused on demonstrating value.
To improve, include specific case studies or examples of how your solutions have adapted to past clients' changing needs. Additionally, asking open-ended questions to explore their specific concerns would enhance curiosity and discovery.
Score: 5
9.
7
/ 10Question:
"I need to ensure all stakeholders are on board; can you help facilitate those discussions?"
Answer:
Yes I’d like to schedule a meeting with all your partners at the same time so we can address all concerns and make sure everyone is on the same page to make the transaction go smoother. When is the best time for you to coordinate the meeting?
Feedback:
Your response effectively acknowledges the prospect's need to involve stakeholders and suggests a collaborative approach to facilitate discussions. You offered to schedule a meeting, which is a proactive step towards addressing concerns, showing you're solution-oriented. However, you could enhance this by asking a few discovery questions to understand the key stakeholders involved and their specific concerns. This would demonstrate active listening and curiosity. Additionally, consider using a closing technique that reinforces the value of the meeting, such as emphasizing the benefits of having everyone aligned. Overall, good job, but there's room for improvement in exploring the prospect's needs further before moving to scheduling.
10.
4
/ 10Question:
"What happens if we face implementation delays after choosing your service?"
Answer:
I will make sure we come up with a solution to address the delays immediately. If I cannot come up with a solution, then I will reach out to the appropriate party to assist us.
Feedback:
The response touches on addressing the concern about implementation delays, which is a good start. However, it lacks depth and specificity. A more effective approach would have included a proactive plan for managing potential delays, such as outlining specific steps you would take or the resources available to minimize downtime. Additionally, the tone could be more reassuring; instead of saying, 'If I cannot come up with a solution,' it would be better to express confidence in the ability to handle issues collaboratively. This response could benefit from curiosity and discovery questions to understand the prospect's specific concerns better, as well as a more solution-focused approach. Overall, while the intent is there, the execution could be significantly improved to instill confidence in the prospect.