Applying for a real estate loan

Research of the competition

Our client - a large bank, requested a benchmark research with very specific parameters. The goal was to fully track the process of applying for a real estate loan at a couple of large banks - direct competitors of the assignor.

We had to use mystery shoppers that we knew would be accepted if they applied. We selected mystery shoppers in Sofia and defined a specific amount of money they would apply for based on their salaries, marital and professional status. For each of the cases, we carefully chose where and what the real estate would be, we reviewed the scenario with the mystery shoppers, regarding what stage the purchase was currently at, and we prepared them for the documents and the mandatory elements of the offer which they had to insist on during their assignment.

The project lasted for 2 months, during which the mystery shoppers organized a couple of meetings with the banks they were applying at. During these 2 months, they had to prepare their documents for application, such as an official certificate from their employer and others. For one of the tests we even managed to provide a draft contract for estate purchasing.

The final results included everything we collected – specific offers, lists with necessary documents and steps, forms, as well as summarized information in a proper format for comparison and analysis.