Home Loans
Sales Assessment Results
64
Developing Closer
10 questions
Maximum score: 100
Completed in
Let's cut to the chase: your performance shows promise, but you're not quite hitting the mark yet. The strongest techniques you demonstrated revolve around acknowledging concerns and offering some degree of reassurance, particularly in your responses about regret and funding speed. However, there's a noticeable pattern of missing deeper engagement. You're often providing solid information but failing to draw the prospect into a meaningful conversation. This is where you need to step it up.
To elevate your skills, I suggest diving into SPIN Selling and Solution Selling. They focus on asking the right questions to uncover customer needs and tailoring your approach based on their specific situations. These techniques will help you foster a more collaborative environment, which is crucial for closing deals.
Here’s your coaching moment: remember, selling is not just about providing answers; it’s about creating a dialogue. Engage your prospects with curiosity and empathy. Ask them about their experiences, their specific needs, and don’t shy away from exploring their concerns in depth. Make them feel heard and understood, and you'll transform your sales conversations from transactional to transformational. Embrace this and watch your scores skyrocket.
Question Breakdown
1.
4
/ 10Question:
"I really want to make sure my monthly payments fit within my budget; can I afford this loan?"
Answer:
I understand your concern, lets review your budget and make that decision after.
Feedback:
The response acknowledges the prospect's concern about monthly payments, which is good. However, it lacks depth and doesn't actively engage the prospect in a meaningful way. A more effective approach would involve asking specific questions about their current budget and financial situation, allowing for a collaborative exploration of their affordability. Additionally, offering some insights into how the loan can fit into their budget would demonstrate a solution-focused approach. This could also include a visual representation of payment options or a discussion about potential flexibility in terms. Overall, while the response is a step in the right direction, it needs more engagement and detail to effectively address the objection.
Score: 4
2.
6
/ 10Question:
"I heard there are better options out there with lower rates; how does your offer compare?"
Answer:
All companies have access to the same interest rates, as they are based on current market conditions. Lets review your qualifications and see what product is best for you. We will tailor something specifically for you.
Feedback:
Your response addresses the concern by acknowledging that interest rates are market-driven, which is a good start. However, it lacks a direct comparison or evidence to reinforce your position. While you suggest tailoring a solution, it would be beneficial to ask follow-up questions to better understand the prospect's specific needs and qualifications. This engages them more and shows you’re genuinely interested in finding the best option for them. Overall, your communication is clear and professional but could benefit from a stronger emphasis on value exploration and active listening to build rapport. Consider including a closing technique that prompts them to engage further in the conversation about their specific needs.
3.
7
/ 10Question:
"I want to take my time with this decision; can I get back to you after I discuss it with my partner?"
Answer:
Getting on the same page with your partner is super important, we understand. Lets schedule a time for all of us to connect and i will gladly review everything once again and answer any questions. I have time available tonight at 6 pm or tomorrow between 10 and 12 noon, which would you prefer?
Feedback:
The response effectively acknowledges the importance of discussing the decision with their partner, demonstrating active listening and an understanding of the prospect's perspective. The suggestion to schedule a time for all parties to connect shows a collaborative approach and willingness to engage further. However, the tone could be slightly more empathetic rather than transactional, and it may benefit from a slightly softer closing technique to give the prospect a sense of control. Overall, it’s a good response but could be refined to enhance rapport and value exploration.
4.
7
/ 10Question:
"What if I end up regretting this decision in a few months? How do I know it will be the right choice?"
Answer:
Here we mitigate the posibility of regret, as we really review your specific scenerio and understand your goals. I've been in the business for over 20 years and the one key thing i take pride in is listening to my clients. Lets take our time and find you the best posssible loan.
Feedback:
The response effectively addresses the concern of regret by emphasizing a careful review of the client's specific situation and goals, which is a solid approach in the home loans industry. Mentioning your extensive experience adds credibility, but the language could be more reassuring. For instance, using phrases that explicitly outline how you will support them post-decision can further mitigate their fears. The tone is appropriate and shows active listening, but it could benefit from a more engaging closing technique, perhaps suggesting a follow-up discussion to explore options further. Overall, it could use more specificity about the process you follow to ensure they're making the right choice.
Score: 7
5.
7
/ 10Question:
"I’m worried about hidden fees or costs that could pop up later; can you guarantee there won’t be any?"
Answer:
Yes! We are going to review all fees and cost thoroughly and avoid any surprises. Have you been through this process before? Let me assure you that you are working with a very honest and transparent person here, We will take it slow and at a pace where nothing will slip through
the cracks.
Feedback:
The response effectively addresses the concern about hidden fees by emphasizing a thorough review process, which is a good approach in the home loans industry where trust is crucial. However, it could be improved by providing more specific assurance regarding the fees, such as mentioning a clear breakdown or any guarantees the company may offer. The tone is friendly, but the phrase "you are working with a very honest and transparent person here" may come off as overly self-promotional. Asking a follow-up question to understand the prospect's past experiences further would enhance the curiosity and discovery aspects. Overall, the response shows an intention to be collaborative and reassuring, but it could benefit from more concrete details.
Score: 7
6.
6
/ 10Question:
"Is your customer service as reliable as you say? I've had bad experiences before with other lenders."
Answer:
Please feel free to read some of my online reviews, further more i can send you one of my clients phone numbers and they can share what their experience with me was like. Mr. Jones , Im looking to make a lifelong customer and for that I understand that i hae to provide the best experience possible. Lets go over some reviews and call one of my clients , so we can move on.
Feedback:
The response attempts to address the objection by directing the prospect to online reviews and offering to connect them with a past client, which is a good approach for building trust. However, it lacks a more empathetic tone and could benefit from acknowledging the prospect's past experiences more directly. Instead of jumping straight into providing reviews and a call, the salesperson could have asked a few questions to better understand the specific issues the prospect faced with previous lenders, demonstrating active listening and curiosity. Additionally, while the intention to create a lifelong customer is commendable, it could be communicated more effectively by focusing on the prospect's needs first rather than rushing to move on. Overall, there's room for improvement in building rapport and demonstrating genuine concern for the prospect's past experiences.
Score: 6
7.
7
/ 10Question:
"How quickly can I expect the funds to be available once I get approved? I need this to happen fast!"
Answer:
thats a great question, Our company has a direct line of credit allowing us to underwrite and fund our loans fast. Our average days to funding is 12 when most of the industry is between 20-30 days.
Feedback:
Your response effectively addresses the prospect's concern about the speed of funding by highlighting your company's competitive advantage in this area. However, it could benefit from a slightly more engaging tone and some additional context. Consider expressing empathy towards their urgency and perhaps offering to discuss their specific situation to build rapport. You could also include a closing technique to encourage further engagement, such as asking if they would like to proceed with the application process. Overall, solid information but room for a more collaborative approach.
8.
6
/ 10Question:
"I’m not sure how this fits into my long-term financial goals; can you help me see the bigger picture here?"
Answer:
of course, this loan not only consolidates 92000 of unsecured debt but allows you to have 820 dollars of new cash flow after expenses. Because you mentioned that you need to start saving money for the kids college , i will set you up with one of my colleges to show you how fast you can have some money working towards your goal. Now as we previously discussed , it is very important that you stay out of debt in the future, if you follow this plan i have no doubt that you will reach your financial goals.
Feedback:
The response effectively addresses the objection by highlighting the immediate benefit of cash flow while connecting it to the prospect's long-term financial goals regarding saving for their children's college. However, it could benefit from a more structured approach such as using SPIN or NEAT questioning to explore the prospect's specific financial goals further. A clearer closing technique could also be implemented, such as summarizing the benefits before moving to the next step. The tone is appropriate, but the response lacks depth in exploring the prospect's concerns and could enhance curiosity and discovery by asking more open-ended questions. Overall, good start but needs to deepen the engagement and clarity of the bigger picture.
9.
7
/ 10Question:
"Do you have options that allow for changes to my loan if my situation changes?"
Answer:
That is a great question, Yes our loans have flexibility . All our loans are free of prepayment penalties and allow you to make large sum payment and re amortize reducing your payments or term.
Feedback:
The response effectively addresses the concern about flexibility by clearly stating the absence of prepayment penalties and options for large payments. However, it lacks a more personalized touch that would enhance engagement, such as asking the prospect about their specific situation or needs. Additionally, it could benefit from a closing statement encouraging further discussion or questions. Overall, the technical information is solid, but the emotional connection and curiosity about the prospect's situation could be improved.
10.
7
/ 10Question:
"I’ve heard horror stories about the process taking too long; can you assure me that won't happen?"
Answer:
As i mentioned to you earlier in our conversation, Our average time to funding is 12 days when the industry is between 20-30 days. What allow us to do this is our inhouse underwriting and direct access to a warehouse line of credit. Rest assured that we will not disappoint you!
Feedback:
The response effectively addresses the concern by providing a clear comparison of the average funding time (12 days) versus the industry standard (20-30 days). This not only assures the prospect but also highlights the unique selling proposition of in-house underwriting and direct access to a warehouse line of credit. However, the tone could be more reassuring and empathetic; phrases like "rest assured" are positive, but adding an acknowledgment of the prospect's fear could enhance rapport. There's room for improvement in curiosity and discovery—asking if they have specific concerns or experiences that led to their fears could deepen the conversation. Overall, the response is informative but could benefit from a more conversational tone and an inquiry into the prospect's past experiences.