Loans
Sales Assessment Results
68
Developing Closer
10 questions
Maximum score: 100
Completed in
You're putting in solid effort, but it's time to sharpen your skills and take your performance to the next level. Your strongest techniques shine through in your consultative selling and solution-focused approaches, especially when you effectively engage prospects by asking thoughtful questions. This is commendable and shows that you are on the right track. However, there's a consistent pattern of lacking warmth and empathy in your communication. While you demonstrate curiosity, it's crucial to balance that with a more reassuring tone to build trust in the loans industry.
To elevate your game, I'd recommend diving deeper into the art of empathetic communication and refining your closing techniques. You need to create that emotional connection and encourage immediate action from prospects. Remember, closing isn't just about sealing the deal; it's about guiding the conversation toward a resolution that feels natural and comfortable for the prospect.
Here's your coaching moment: selling isn't just about the product; it's about the relationship you build along the way. Infuse your responses with genuine concern and warmth. Let your prospects know that you're not just there to close a sale but to be their trusted advisor through a significant financial decision. Lean into that role, and you'll see your performance soar.
Question Breakdown
1.
7
/ 10Question:
"I really need this loan, but how can I be sure the monthly payments won't stretch my budget too thin?"
Answer:
You can never be sure the monthly payment will not stretch your budget too thin, however we feel this loan meets your budget after analyzing your net worth, liquidity, income, credit and the collateral. We stressed test your proforma and feel confident in your ability to repay this loan. If you feel this loan is stretching your budget too thin, let me know now so I can help you find a loan that does. Lastly, “life happens”, and I will be your trusted advisor throughout this loan and will continue to reach out to you quarterly to make sure your finances are in the best position possible. Do not hesitate to call, text, email me at anytime through out the duration of this loan if “life happens”. It is much better to be proactive with asking for help than waiting around for your situation to improve.
Feedback:
The response addresses the objection about monthly payments by acknowledging the uncertainty involved and providing a reassuring analysis of the borrower's financial situation. It effectively positions the salesperson as a trusted advisor, which is crucial in the loans industry. However, the tone could be more empathetic and less technical; simplifying the financial jargon would help the prospect feel more comfortable. The offer to assist in finding a more suitable loan shows a solution-focused approach, but the closing could have been stronger by inviting the prospect to discuss specific budget concerns or payment options directly. Overall, the response lacks a bit of warmth and curiosity that could deepen the connection.
2.
7
/ 10Question:
"What if I find a better loan offer somewhere else with lower interest rates?"
Answer:
If you do, please contact me and we can sit down and review the offer. Many times “offers” sound better than they are and the devil is in the details. After reviewing all the details with you, I will see if I can match or beat the deal. If I cannot, I will advise you to take the other offer and will still be here as your trusted advisor for future opportunities.
Feedback:
The response effectively acknowledges the prospect's concern about potentially better loan offers by inviting further discussion, which shows a willingness to collaborate and explore options together. The mention of the "devil in the details" is a good way to point out that not all offers are created equal, aligning with the solution-focused approach. However, it lacks a strong closing technique that could encourage immediate action or commitment. Additionally, while the tone is generally appropriate, the response could be more engaging by asking a thoughtful question to further understand the prospect's specific needs or concerns. Overall, it demonstrates curiosity and active listening but could be enhanced by a more assertive call to action.
3.
6
/ 10Question:
"I've had a bad experience with loans in the past; how do I know this time will be different?"
Answer:
What happened in the past? By sharing this issue with me, I will be able to better determine if this time will be different. I have a proven track record of successful fundings and satisfied clients, which is always my main goal.
Feedback:
The response effectively opens up a dialogue by asking the prospect to share their past experience, which demonstrates curiosity and a willingness to understand their concerns. However, it lacks a stronger emphasis on addressing the specific worry about their previous bad experience and doesn't provide enough reassurance or a solution-focused approach to demonstrate how this time will be different. Additionally, mentioning your proven track record is good, but it could be strengthened by perhaps including a specific example or testimonial to build trust. Overall, the communication is clear, but it could have a more empathetic tone and include a closing technique to guide the conversation towards resolution.
4.
7
/ 10Question:
"Can you explain how this loan will fit into my current lifestyle and financial goals?"
Answer:
What is your current lifestyle and goals? By sharing these details with me, I will be able to provided a tailored solution that best aligns with your current lifestyle and goals.
Feedback:
The response effectively addresses the prospect's request for a personalized explanation by asking for more details about their current lifestyle and financial goals. This shows curiosity and a willingness to understand the customer better, which is crucial in the loan industry. However, the communicator could enhance the response by explicitly mentioning how understanding these aspects will help in determining the best loan options available. Additionally, a more empathetic tone could help in building rapport. Overall, it's a good start, but it could be improved to make it feel more engaging and reassuring to the prospect.
5.
7
/ 10Question:
"I get that this is an emergency purchase, but what if I need more time to decide?"
Answer:
Let’s discuss your reasoning for needing more time. I have found this to be my best approach with clients when they believe they need more time. Usually they are not sold on the loan, on me, or my company. Which of these 3 is most concerning to you? Thank you for sharing this information and what changes do I need to make to help you feel comfortable today.
Feedback:
The response effectively acknowledges the prospect's need for more time and attempts to explore the underlying reasons behind it. The salesperson demonstrates curiosity and a consultative approach by asking thoughtful questions about the prospect's concerns. However, the phrasing could be more empathetic, especially considering the urgency of a loan situation. Instead of stating, "Usually they are not sold on the loan, on me, or my company," it might have been better to frame it positively by expressing understanding and support. While the inquiry into the customer's concerns is good for discovery, it could benefit from a stronger closing technique to reassure the prospect about moving forward. Overall, the response is solid but could improve in empathetic communication and urgency given the context of loans.
Score: 7/10.
6.
6
/ 10Question:
"I'm just not sure if I can trust your company; what sets you apart from others?"
Answer:
I understand your concern of not trusting those you do business with right away. My best advice is to ask others who have done business with me about their experience. I am happy to provide a list of clients for you to speak with and I encourage you to read 3rd party reviews and reports of my company. I would say the number 1 thing that sets me about is I am an independent advisor, meaning my only goal is to help you get the best deal possible. This could be different from an advisor tied to certain institutions because they have to play by the rules and regulations of that institutions balance sheet.
Feedback:
The response does well to acknowledge the prospect's concern about trust, which is critical in the loan industry. However, it could be more effective by clearly articulating unique value propositions that differentiate the company beyond just being an independent advisor. Providing specific examples or success stories could enhance credibility. The suggestion to ask for references is good, but it would be better to proactively share positive testimonials or statistics that demonstrate trustworthiness. Overall, the communication is clear, but it lacks a stronger closing technique to guide the prospect towards a next step. A more collaborative approach, perhaps through asking if they have specific concerns about the trust issue, could also help in building rapport and exploration of their needs.
7.
8
/ 10Question:
"What if my financial situation changes after I take out this loan; can I adjust my payments then?"
Answer:
As previously mentioned, I will be your trusted advisor throughout the duration of this loan and hopefully many others. If your financial situation changes after taking out this loan, I encourage you to reach out immediately so we can come up with the best course of action moving forward. I will also check in with your quarterly to see how everything is going. My clients have found this to be very helpful and has built their trust, because they know I am with them for the long run.
Feedback:
The response effectively addresses the prospect's concern about potential changes in their financial situation by offering reassurance and a commitment to ongoing support. It emphasizes a consultative approach, suggesting that the salesperson will be a trusted advisor and will proactively check in with the client. However, it could benefit from more specific details on how the payment adjustments might work, which would enhance the solution-focused aspect. Overall, the tone is appropriate for the loans industry, and the collaborative approach is evident in the willingness to work together. A few questions could have been asked to further explore the client's needs and concerns, enhancing curiosity and discovery. Overall, it's a strong response with room for improvement in detail and engagement.
8.
7
/ 10Question:
"How are you going to support me after the loan is approved? What if I have questions later on?"
Answer:
As previously mentioned, I will be your trusted advisor throughout the duration of this loan and hopefully many others. You can call, text, email me at anytime, including nights, weekends, and holidays. I do not work bankers hours. At the end of the day, the only way I am successful is if my clients are successful.
Feedback:
Your response effectively addresses the concern of post-loan support by positioning yourself as a trusted advisor. You communicated clearly and with a supportive tone, which is essential in the loans industry. However, while you did provide reassurance, it would have been beneficial to explore their specific concerns further by asking a few follow-up questions, demonstrating active listening and curiosity. This could have helped solidify the relationship and provided more personalized reassurance. Additionally, a closing technique might have been useful to transition the conversation towards finalizing the loan. Overall, solid response but could be enhanced with a bit more engagement and curiosity.
Score: 7
9.
6
/ 10Question:
"I worry about how fast I can get the money; is there any chance of delays in processing?"
Answer:
While their is always chances of delays in processing, their is a much smaller chance of delay by working for me because I do hours of due diligence upfront. This approach of collecting all documents up front and essentially underwriting it before a term sheet is issued has created many satisfied clients due to the lack of delays in processing and also the lack of changes to the original term sheet. Lastly, if there is a delay, I will address it immediately and over communicate, not only the issue, but more importantly the solution.
Feedback:
The response effectively addresses the concern about processing delays by emphasizing the proactive approach taken to minimize such issues. The mention of doing due diligence upfront and pre-underwriting showcases a solution-focused mindset. However, there are a few areas for improvement:
1. **Clarity and Tone**: The message could be clearer and more concise; it contains some grammatical errors (e.g., "their" instead of "there"). A smoother delivery would enhance professionalism.
2. **Closing Technique**: While the response reassures the prospect, it lacks a strong closing technique. A call to action or an invitation to discuss further could help move the conversation forward.
3. **Curiosity and Discovery**: It would be beneficial to ask a follow-up question to further understand the prospect's specific concerns about delays.
4. **Active Listening**: Acknowledging the prospect's concern directly before providing a solution could strengthen rapport.
5. **Value Exploration**: While the response highlights benefits, reiterating the key value proposition succinctly would reinforce the message.
Overall, the response is solid but could benefit from refinement for clarity and engagement.
10.
7
/ 10Question:
"My friend just had a terrible experience with their loan provider; how can I be sure I won’t face the same issues?"
Answer:
What issues did they have with their current loan provider? Knowing these issues will help me better understand how I can help you and also your friend in the future.
Feedback:
The response effectively opens the door for further discussion by asking about the specific issues the prospect's friend faced. This shows curiosity and a willingness to understand the problem, which is crucial in building trust. However, it lacks a reassuring tone or immediate value proposition to address the fear stemming from the friend's experience. Adding a brief mention of your company's strengths or customer satisfaction ratings could provide more comfort and credibility. Overall, the response could benefit from a more solution-focused approach that emphasizes how your service differs from the competitor's.
Score: 7/10