Real estate
Sales Assessment Results by Brian Lewis
42
Needs Improvement
10 questions
Maximum score: 100
Completed in
Let's cut to the chase: your performance on this test is not where it needs to be. With an average score of 4.2, it's clear you're struggling to connect with prospects and address their concerns effectively. Your strongest technique seemed to be your attempt at consultative selling, where you made some effort to explore financial options, but even that lacked the clarity and detail necessary to truly reassure clients.
The consistent pattern here is a tendency to be vague and dismissive when prospects express valid concerns. Instead of offering concrete data or tailored solutions, you often relied on broad statements that fell flat. This approach can erode trust and rapport, which is crucial in sales.
It's time to dig deeper into SPIN Selling and Value Selling. Both techniques will help you understand and address the specific needs and concerns of your prospects with precision and empathy. Focus on asking the right questions to uncover their pain points and then articulate clear value that directly addresses those issues.
Remember, successful selling is not about making the sale at all costs; it's about building relationships and trust. Embrace the power of specificity and data in your conversations. Next time a prospect voices a concern, don’t just brush it off—address it head-on with concrete examples and a clear plan. That shift in mindset could be the game-changer you need. You've got this.
Question Breakdown
1.
2
/ 10Question:
"I love the property, but how can I be sure it will appreciate in value given the current market uncertainty?"
Answer:
The best time to buy any piece of real estate was yesterday. What did your parents pay for their home? $50k? What’s it worth today? $750k? Do you want to miss out on the opportunity that your parents had?
Feedback:
The response lacks a direct answer to the prospect's concern about market uncertainty and appreciation. Instead of addressing the specific worry, it relies on a historical anecdote that may not resonate with the buyer's current situation. A more effective approach would involve discussing current market trends, potential for growth in the area, and providing data or projections that reassure them about future appreciation. Overall, the communication is dismissive of the prospect's valid concerns, which can damage rapport and trust.
2.
5
/ 10Question:
"With my tight budget, I'm worried the monthly payments might stretch my finances too thin. Can we explore more affordable options?"
Answer:
Let’s run the numbers. How much are you paying for rent now? How much are you spending going out instead of entertaining at home? This house will cost you x a month which is less than your remand party budget, plus we can rent out the basement or a bedroom to a friend that would make it less than you are spending now
Feedback:
The response starts to address the prospect's concern by suggesting a calculation of current expenses, which is a good approach to contextualize costs. However, it lacks clarity and precision in the financial comparison, failing to provide specific figures or a clear breakdown of the house costs versus current spending. Additionally, suggesting renting out a part of the property is a creative idea, but it could have been elaborated on to show potential income. Overall, while the response demonstrates some curiosity and exploration of financial options, it needs clearer communication and a more structured approach to effectively reassure the client about affordability.
3.
4
/ 10Question:
"I need to ensure this fits my team's workflow—how disruptive will the transition be from our current setup?"
Answer:
I’m here to make sure that disruptions are minimal if any. What you will gain from this will outweigh any minor disruptions that may or may not arise
Feedback:
The response addresses the prospect's concern about disruption, but it lacks specificity and detail. Simply stating that disruptions will be minimal does not provide enough reassurance. It would be more effective to outline a clear plan for the transition, including steps that will be taken to minimize disruption, training options available for the team, and any support that will be provided during the transition. Additionally, quantifying the gains in terms of efficiency or productivity could enhance the argument and help the prospect feel more confident in their decision. Overall, the response is too vague and does not demonstrate a thorough understanding of the prospect's needs.
4.
4
/ 10Question:
"I've heard mixed reviews about other properties in this area; what sets this one apart in terms of value?"
Answer:
I showed you this property because of the value. This property’s location far exceeds others in the area. The potential of this Porto increase in value is exponential. A diamond in the rough is always what you want to buy.
Feedback:
The response attempts to address the objection by emphasizing the property's location and potential for value increase. However, it lacks concrete evidence or comparison metrics to effectively differentiate this property from others in the area. Phrases like "exponential potential" and "diamond in the rough" are vague and could be more impactful if supported by data or specific examples of recent appreciation trends in the neighborhood. Additionally, it would be beneficial to acknowledge the buyer's concern directly and respond with empathy to build rapport. Overall, the answer needs to be more detailed and solution-focused to fully convince the prospect of its unique value.
5.
5
/ 10Question:
"Before moving forward, I need buy-in from my finance team; how can you help me justify this expense to them?"
Answer:
Let’s again run the numbers. How much is your current situation costing you? How long are you willing to continue those costs without gaining on this asset? Not only will you be building equity but your team will be more productive in the right environment
Feedback:
The response attempts to engage the prospect in a discussion about current costs and potential gains, which is a step toward addressing their concern about needing buy-in from the finance team. However, it lacks specificity and doesn't provide concrete data or insights that would help the prospect justify the expense to their finance team. Instead, it would be more effective to offer a breakdown of the return on investment, potential savings over time, or any financial metrics that would resonate with a finance team. Additionally, asking the prospect if they have specific metrics or criteria their finance team prioritizes would demonstrate curiosity and a consultative approach. Overall, while there is a good start in asking about current costs, the response needs to be more focused and detailed to effectively help the prospect secure approval from their finance team.
6.
3
/ 10Question:
"The competition seems to be offering better incentives—can you match or exceed their offer to secure my interest?"
Answer:
People who don’t bring value to the table need to offer incentives. If they have to discount to get business there is a reason. I don’t advertise. People come to me because I help them. I bra team to the table that is with you for life. You are not just a client but a partner.
Feedback:
The response fails to address the prospect's concern directly regarding matching or exceeding competitors' incentives. While it conveys a sense of value and partnership, it dismisses the competitor's offers without proposing any specific alternatives or demonstrating how your services provide superior value. This response may come off as defensive and could alienate the prospect rather than engage them. A more effective approach would include acknowledging the competitor's incentives and presenting a tailored value proposition or unique features that justify your offering without the need for discounts. Additionally, articulating how your services lead to long-term benefits could create a more compelling argument.
7.
4
/ 10Question:
"I understand the property is in good condition, but what if unexpected maintenance costs arise after purchase?"
Answer:
Once again when you work with me you get my whole team. That team also consists of contractors so if anything should happen I have you covered. Your costs will be minimal while your gains will be expodential!
Feedback:
The response attempts to assure the prospect that they will be covered for unexpected maintenance costs by highlighting the support of a team and contractors. However, it lacks specific details about the types of maintenance costs that could arise and how exactly the team will address them. Additionally, using phrases like "gains will be exponential" is vague and may not effectively communicate the practical benefits to the buyer. A more effective approach would include discussing a maintenance plan, warranty options, or examples of how previous clients have successfully managed similar situations. Overall, the response needs to provide clarity and demonstrate a deeper understanding of the prospect's concerns regarding maintenance costs.
8.
5
/ 10Question:
"I'm concerned about the learning curve for my team; how straightforward is it to manage this property effectively?"
Answer:
The learning curve will be minimal because again, you have me and my team for life. If you purchase with me, I will personally help you transition into this property. It’s what I do.
Feedback:
The response addresses the prospect's concern about the learning curve by emphasizing the support they will receive from you and your team. However, it lacks specifics about what the transition process entails and how you will facilitate learning for the team. Providing concrete examples of training methods, resources, or timelines would enhance your credibility and reassurance. Additionally, acknowledging the prospect's concern more empathetically could strengthen rapport. Overall, while the intent to provide personal assistance is positive, more detail is needed to effectively reassure the prospect about managing the property.
9.
4
/ 10Question:
"I want to be sure there are no hidden costs after the sale; can we clarify all potential fees involved?"
Answer:
Of course! I have personally inspected the building and this is what I expect. The building has a newer roof, newer mechanicals and newer windows. I’m sure you’ll want to renovate to make it yours. My team will help with that so the costs will be minimal. Your mortgage and title is with my team so their will be to surprises.
Feedback:
The response begins positively by acknowledging the concern about hidden costs, but it fails to directly address the need for clarification on all potential fees involved in the sale. While mentioning the building's newer features is relevant, it does not provide a comprehensive overview of all costs that the buyer might incur, such as closing costs, inspection fees, or potential renovation costs. Additionally, the statement "there will be no surprises" is vague and should be substantiated with specific details or a breakdown of expected fees. The focus on renovations could be confusing since it implies additional costs rather than clarifying existing fees. Providing a more structured answer with clear financial parameters and a proactive approach to discussing all potential expenses would enhance trust and demonstrate thoroughness. Overall, the response needs to be more detailed and explicitly answer the prospect's question about hidden costs.
10.
6
/ 10Question:
"Given our current workload, how quickly can we realistically close on this property without compromising quality?"
Answer:
When would be ideal for you and I’ll do my best to make it happen. We can delay closing or push closing depending on what works best. Again with my mortgage and title people working on it, we control the deal. I’ll make whatever you need happen.
Feedback:
The response acknowledges the prospect's concern about closing timelines and shows a willingness to accommodate their schedule, which is positive. However, it lacks specific details about how the process will be managed to ensure that quality is not compromised. Providing insight into the steps that will be taken during the closing process, the involvement of the mortgage and title teams, and any potential challenges that might arise would enhance the reassurance provided. Additionally, asking further questions about the prospect's specific timeline and quality expectations could demonstrate greater curiosity and engagement. Overall, while the intent to be flexible is commendable, the response needs more substance to effectively address the prospect's concerns regarding timing and quality.