Real estate
Sales Assessment Results by Cory Phillips
47
Needs Improvement
10 questions
Maximum score: 100
Completed in
Let’s cut to the chase: your performance on this test is underwhelming. Averaging a score of 4.7 means there’s a lot of room for improvement, and it’s time to roll up those sleeves. You’ve shown that you can acknowledge concerns, which is a decent start, but it’s clear you’re not diving deep enough into the issues at hand. Instead of just nodding along, you need to become a detective of your prospect’s needs. Ask open-ended questions that encourage exploration. This will not only give you the insights you need but also allow you to tailor your solutions more effectively.
There’s a noticeable pattern of you stating facts without digging into the underlying emotions or motivations of your prospects. You need to shift from being a salesperson to being a consultant—someone who builds trust and rapport. Techniques like SPIN Selling or Consultative Selling could help you immensely by focusing on the Situation, Problem, Implication, and Need-Payoff questions, or by acting more like a consultant who offers tailored advice.
To elevate your game, I strongly suggest you study the Challenger Sale approach. This technique will push you to challenge your prospects' thinking and offer insights that they might not have considered. You should also practice Objection Handling Techniques; being equipped to manage and address objections effectively can turn a hesitant prospect into a confident buyer.
Remember, the goal isn’t just to sell; it’s to understand your prospects deeply. You have the potential to turn this around, but you must commit to being more engaging and solution-oriented. Your memorable coaching moment? Think of yourself as a partner in your prospect’s journey, not just a salesperson. When you start building that genuine connection, you’ll find that your sales approach transforms.
Question Breakdown
1.
3
/ 10Question:
"I'm on a tight budget right now, and I'm worried about monthly payments exceeding my current expenses."
Answer:
I understand. If I could show you a way to purchase today that kept your expenses where they are now. Would you say yes?
Feedback:
While you acknowledged the prospect's concern, your response lacks depth and doesn't explore the underlying issues related to their tight budget. It would be more effective to ask open-ended questions to better understand their financial situation and needs. Additionally, providing more context or options rather than a direct question would show a stronger solution-oriented approach. Engaging in a dialogue rather than jumping to a closing question could foster better rapport and trust. Overall, more exploration of the prospect's budget constraints and tailoring your solution accordingly is needed.
2.
5
/ 10Question:
"I need to make sure this property won't disrupt my team's workflow or current operations."
Answer:
I understand. I know how important workflow is to a business. I what about the property may cause any issue with the workflow?
Feedback:
Your response starts off well by acknowledging the importance of workflow, which helps build rapport. However, the phrasing is unclear, particularly with the phrase "I what about the property..." which seems incomplete. Instead, it would be more effective to ask open-ended questions to further explore the specific concerns the prospect might have. For example, you could ask, "What specific aspects of the property are you concerned might affect your team's workflow?" This would demonstrate curiosity and a commitment to understanding their needs better. Overall, aim for clearer communication and deeper inquiry to adequately address the objection.
3.
6
/ 10Question:
"How do I know this investment will actually enhance my business and not just be another expense?"
Answer:
That's a great question I am glad you asked. This would be a long term investment for your company. It would give you a write off with your taxes all the while gaining equity.
Feedback:
Your response acknowledges the importance of the question, which is a good start. However, it lacks a deeper exploration of the prospect's specific concerns regarding the investment's value. Instead of solely stating it would be a long-term investment, you could enhance your answer by asking questions to uncover their particular goals or metrics for success. For example, you might ask, "What specific outcomes are you hoping to achieve by making this investment?" This would show curiosity and a commitment to understanding their unique needs. Additionally, consider providing more concrete examples or case studies that illustrate how similar investments have positively impacted businesses. This could help to build trust and illustrate the potential ROI more effectively. Overall, aim for a more collaborative and discovery-oriented approach that directly addresses their concerns about value.
4.
4
/ 10Question:
"With the current market conditions, I'm hesitant about purchasing something that might not hold value in the near future."
Answer:
Real estate is always a solid investment. It may go down but it always is something that will make you money in the long run.
Feedback:
Your response does acknowledge the concern about market conditions, but it lacks substantial engagement with the prospect's specific hesitation. Simply stating that real estate is a solid investment does not address their immediate worry about potential depreciation. Instead, it would be more effective to explore their concerns further by asking open-ended questions like, "What specific market factors are you most concerned about?" or providing data and examples of how real estate has historically performed during downturns. Additionally, discussing strategies to mitigate risk, such as location advantages or property types that tend to hold value, could help reinforce your position. Overall, aim for a more tailored and informative approach that directly addresses the prospect's fears.
5.
4
/ 10Question:
"I’ve heard stories about long and complicated processes with real estate transactions; how can I be sure this won't take too long?"
Answer:
We set a COE on the transaction to make sure that it closes on time. As far as finding the property that will be dependent on you and the properties we look at and how quickly you make a decision.
Feedback:
Your response attempts to address the concern about timing by mentioning the COE (Close of Escrow) process, which is good. However, it lacks clarity and depth. Simply stating it is dependent on the decision-making process does not provide reassurance to the prospect. It would be more effective to explain how your team streamlines the transaction process or share specific strategies you use to ensure timely closings. Additionally, consider asking the prospect about their specific concerns regarding timeframes or previous experiences that may have contributed to their hesitance. This would show you are engaged and willing to help alleviate their fears. Overall, improve clarity and provide more detailed reassurance to enhance your response.
6.
5
/ 10Question:
"What if my business priorities shift soon after making a commitment?"
Answer:
You can always keep the property as an investment or list the property and sell it to use the profits for a different adventure.
Feedback:
Your response attempts to address the objection by suggesting the option of keeping the property as an investment or selling it for profit. However, it lacks depth and engagement with the prospect's specific concern about shifting business priorities. Instead of jumping to potential solutions, it would be more effective to explore their concerns further by asking questions like, "What specific changes in your business priorities are you anticipating?" or "How might your business direction affect your decision on property investment?" This would demonstrate curiosity and a willingness to understand their unique situation. Overall, aim for a more collaborative and consultative approach that reassures the prospect and addresses their underlying fears about commitment.
7.
5
/ 10Question:
"I have concerns about how this will align with my long-term company vision - can you help clarify that?"
Answer:
I would need to know what your long term company vision is to be able to help you with any clarification.
Feedback:
Your response correctly identifies the need to understand the prospect's long-term vision before providing clarity, which indicates an intention to engage in a meaningful conversation. However, it lacks warmth and proactive engagement. Instead of simply asking for more information, consider framing it in a way that demonstrates your interest in their goals. For example, you could say, "That's an important consideration. Can you share more about your long-term vision so I can better illustrate how this investment can support those goals?" This approach not only shows curiosity but also positions you as a partner in their decision-making process. Overall, focus on building rapport and demonstrating how your offering aligns with their vision to enhance your response.
8.
4
/ 10Question:
"I'm feeling overwhelmed by all the options out there; how can I be sure this is the right decision for me?"
Answer:
Making the right decision is easy. We will need to look at the ones that stand out for you. And do a process of elemention of them to get to the correct property based on your needs and wants.
Feedback:
Your response attempts to provide reassurance by stating that making the right decision is easy, which can be comforting. However, it lacks depth and specificity in addressing the prospect's feelings of being overwhelmed. Phrases like "process of elimination" could be better articulated to ensure clarity. Instead of using jargon, consider explaining how you will guide them through the selection process step by step. Asking open-ended questions such as, "What specific features are most important to you in a property?" or "Can you share what aspects are causing you the most confusion?" would demonstrate empathy and curiosity. Overall, a more collaborative and detailed approach would better address their concerns and build trust.
9.
5
/ 10Question:
"Is the potential return on investment guaranteed? I can’t afford to risk my budget on something uncertain."
Answer:
I can not guarantee the ROI of the investment. I can tell you that there is a risk in any investment though. I would be happy to help you with historical data to decide.
Feedback:
Your response acknowledges the uncertainty of ROI, which is a good start, but it could benefit from a more proactive approach. While it’s important to set realistic expectations, simply stating that you can't guarantee ROI might create more anxiety for the prospect. Instead, consider emphasizing how you can help mitigate risks by providing relevant historical data, market trends, and case studies of similar investments that performed well. You could also engage the prospect with questions like, "What specific concerns do you have regarding investment risks?" or "What do you consider a reasonable timeframe for seeing a return?" This would demonstrate a commitment to understanding their perspective and offering tailored guidance. Overall, aim for a response that reassures the prospect while also providing valuable insights and support.
10.
6
/ 10Question:
"I've had poor experiences in the past; what steps do you take to ensure a smooth buying process?"
Answer:
I am sorry that you have had poor experiences with your purchases. I make sure that all your questions are answered, I am involved with all the aspects of the transaction. From talking with your lender to the title company. I provide prompt fast service to make sure you are not waiting for answers.
Feedback:
Your response begins with an empathetic acknowledgment of the prospect's past negative experiences, which is essential in building rapport. However, it could be strengthened by providing more specific examples of how you ensure a smooth process. Instead of simply stating you provide prompt service, detail specific actions you take, such as regular updates, proactive communication, and a checklist to guide them through the process. Additionally, consider inviting the prospect to share more about their previous experiences to tailor your reassurance effectively, such as asking, "What specific issues did you encounter in the past that we can address together?" This would foster a more collaborative atmosphere and demonstrate your commitment to overcoming their concerns.