Loan broker
Sales Assessment Results
35
Needs Improvement
10 questions
Maximum score: 100
Completed in
Let’s cut to the chase: your performance is far from where it needs to be. An average score of 3.5 is a glaring signal that you’re missing the mark in critical areas of your sales technique. You’ve shown some glimpses of understanding, but overall, your responses lack depth, engagement, and a genuine solution-focused approach. When prospects express concerns, they need to feel heard, valued, and understood. Instead, your responses often redirect or gloss over their worries, creating an impression of indifference rather than collaboration.
Your strongest moments came when you acknowledged concerns about time commitment and post-purchase support, but even then, you fell short in empathy and detail. You need to cultivate a habit of active listening and curiosity. Ask more insightful questions that dig deeper into the prospect's emotions and motivations. This is not just about selling; it’s about building trust and rapport.
Focus on honing your consultative selling skills and the SPIN Selling technique. These will help you uncover needs and tailor your approach more effectively. You need to learn to connect the dots between the prospect’s concerns and the solutions you offer.
Remember, sales is not just about transactions; it’s about transformations. Every prospect is looking for someone who can guide them through their doubts and fears. Make it your mission to be that guide. Take this coaching moment to heart: If you want to elevate your performance, you must first elevate your understanding of your clients. Listen to their fears, engage with their challenges, and deliver solutions that resonate. You have the potential—now it’s time to unlock it.
Question Breakdown
1.
2
/ 10Question:
"I'm really worried about how the monthly payments will fit into my budget; can you explain how this loan will be affordable for me?"
Answer:
Great question, how did you plan on using the loan?
Feedback:
The response misses the mark in addressing the prospect's specific concern about affordability and monthly payments. Instead of providing reassurance or detailed information about payment options or budgeting strategies, it redirects the conversation without acknowledging the prospect's worry. A better approach would include a clear explanation of the loan terms, potential payment plans, and how these fit within the budget. Additionally, asking follow-up questions about their current financial situation and any budgeting strategies they have could demonstrate active listening and curiosity. Overall, this response lacks a solution-focused approach and does not effectively build rapport or explore value.
Score: 2/10 for minimal engagement and lack of addressing the core concern.
2.
3
/ 10Question:
"I need a bit more time to think this through; can you follow up with me next week?"
Answer:
That sounds alright with me. What about the loan where you gonna think about?
Feedback:
The response lacks depth and doesn't effectively address the prospect's need for time to think. Instead of acknowledging their request and offering to provide additional information or support, the salesperson simply agrees without exploring the prospect's concerns. A better approach would be to ask clarifying questions about what specific aspects they need to consider, demonstrate understanding, and potentially offer to send helpful information in the meantime. Overall, the response fails to engage the prospect in a meaningful way and misses an opportunity to build rapport.
Key areas for improvement include:
1. Curiosity and Discovery: Ask more thoughtful questions to understand their hesitation.
2. Active Listening: Acknowledge their need for time and validate their decision-making process.
3. Solution-Focused Approach: Offer to provide information or resources to assist them in their decision.
Score: 3/10 for minimal engagement and lack of proactive follow-up.
3.
2
/ 10Question:
"I’ve heard mixed reviews about loan brokers lately; how can I be sure I’m choosing the right one?"
Answer:
Well what exactly did you read online?
Feedback:
The response lacks depth and doesn't effectively address the prospect's concern about mixed reviews. Instead of asking for specifics about what they read, the salesperson should acknowledge the concern about reviews and provide reassurance about the company's reputation, possibly sharing testimonials or success stories. This would demonstrate active listening and a solution-focused approach. A better response could have included a follow-up question to understand their specific worries and how the broker can alleviate them, along with a value proposition that highlights their unique offerings. Overall, the response feels dismissive rather than engaging, which is critical in the loan brokerage industry where trust is paramount.
4.
3
/ 10Question:
"This seems like a big commitment; what happens if I change my mind after I start the process?"
Answer:
Well you always have the right to rescind and if you don’t feel it’s right then just don’t do it.
Feedback:
The response does acknowledge the prospect's concern about commitment, but it lacks depth and fails to reassure the prospect effectively. Simply stating that they can rescind does not address the emotional aspect of the objection, nor does it engage in a dialogue that explores their feelings about commitment. A more effective approach would involve empathizing with their concerns, asking questions to understand their specific fears, and reinforcing the support they will receive throughout the process. This would also open up an opportunity to explore the value of moving forward despite their hesitations. Overall, the response is too dismissive and does not build rapport or trust.
To improve, consider using a consultative or solution-focused approach, emphasizing the benefits of the service while addressing their fears in a more reassuring manner.
5.
4
/ 10Question:
"I’m currently working with another broker, and I’m not sure it's the right time to switch; what makes your service different?"
Answer:
Well we know how to get you the most money without providing financials. Along with credit stacking. How much were you looking to get approved for?
Feedback:
The response attempts to address the objection by highlighting a unique selling point (getting the most money without financials) but lacks clarity and depth. It does not effectively educate the prospect on what makes the service different in a compelling way, nor does it adequately acknowledge the prospect's current relationship with another broker. The closing question about how much they are looking to get approved for is somewhat relevant, but it feels abrupt and doesn’t foster a deeper conversation. More curiosity and discovery could improve the engagement, as well as a stronger emphasis on the unique value proposition. Overall, the tone is transactional rather than collaborative, which is not ideal for building trust in the loan brokerage industry.
Score: 4/10
6.
2
/ 10Question:
"I’m concerned that this loan won't align with my lifestyle and future plans; how can you help me ensure it does?"
Answer:
Well what are you gonna use the loan on?
Feedback:
The response does not effectively address the prospect's concern about alignment with their lifestyle and future plans. Instead of asking about the loan's purpose, the salesperson should have engaged in a more consultative conversation, exploring the prospect's goals and how the loan can support them. A better approach would involve asking open-ended questions to uncover the prospect's needs and demonstrating an understanding of their lifestyle. This response lacks curiosity, active listening, and a solution-focused approach. Overall, the communication is abrupt and not aligned with the prospect's emotional needs.
Score: 2/10 for failing to adequately address the objection and lacking a collaborative approach.
7.
4
/ 10Question:
"With the current economic situation, I worry about taking on new debt; can you provide insights on how this is a safe choice?"
Answer:
I understand. How were you planning on using the loan? And why do you need the amount you’re requesting?
Feedback:
The response acknowledges the prospect's concern about taking on new debt, which is a good start. However, it fails to address the specific request for insights on why taking on new debt could be a safe choice, leaving the prospect's concern unaddressed. The questions about the loan purpose and amount are relevant but could be seen as shifting the conversation away from their immediate worry. A more effective response would combine these questions with reassurance and information about safe debt practices or potential benefits of the loan in the current economic climate. Overall, the response lacks clarity, empathy, and a solution-focused approach.
Score: 4
8.
3
/ 10Question:
"I’m not sure if this loan meets all my needs; can you walk me through how you customize options for clients?"
Answer:
Absolutely. What we do is review your credit and income along with what you’re end goal is. After that we shotgun your credit
Feedback:
The response starts off well by expressing a willingness to help, but it quickly derails with the term "shotgun your credit," which lacks professionalism and clarity. It fails to effectively address the objection about customizing options, as it does not explain how the customization process works or what specific factors are considered. Instead of providing a clear, solution-focused approach, it creates confusion. A more structured response using consultative selling techniques would better clarify the process and build trust. Overall, the communication lacks the necessary tone and detail expected in the loan brokerage industry, where clients often seek thorough understanding and reassurance.
Consider using a structured approach to address the client's needs, perhaps following a framework like SPIN Selling or the PASTOR Framework to clearly outline the process and ensure the client feels heard and understood.
9.
6
/ 10Question:
"I have a few other projects on my plate right now; will this loan process take up a lot of my time?"
Answer:
No not all. I’ll help you get onboarded. After that my team reviews your credit and if everything checks out well. That’s when you’ll talk to my business partner Chris who comes up with your funding plan.
In all we can get you onboarded and funded within 2 days.
Feedback:
The response effectively addresses the concern about time commitment by assuring the prospect that assistance will be provided during the onboarding process. However, it could benefit from a more empathetic tone to acknowledge the prospect's busy schedule and perhaps include a question to further explore their situation. For instance, asking about their projects could help identify how to fit the loan process into their current workload. The closing isn't strong, as it lacks a direct invitation to move forward or set a next step. Overall, while the response is clear and solution-oriented, it lacks a collaborative touch and deeper engagement with the prospect's concerns.
10.
6
/ 10Question:
"I need reassurance that there’s strong support available after I finalize the loan; what kind of post-purchase assistance do you offer?"
Answer:
Well you’ll always have my cell phone if you have questions or want to refer someone. Along with access to my assistant Shoeb who can contact me if you’re unable to reach me
Feedback:
The response addresses the concern about post-purchase support by providing direct access to the salesperson and their assistant, which is a positive start. However, it lacks depth in explaining the specific types of support available post-loan finalization. To enhance credibility, the salesperson could elaborate on the nature of assistance offered, such as follow-up calls, resources, or additional services that ensure a smooth experience. The tone is friendly and approachable, which is good for building rapport, but it could benefit from a more structured closing technique that reassures the prospect about ongoing support. Asking a follow-up question about what kind of support the prospect is envisioning could also demonstrate curiosity and active listening. Overall, it’s a decent response but needs more detail and engagement to fully reassure the client.