Posted by John Behle on January 06, 1999 at 10:32:07:
The examples in the two articles are something I present to agents in written format or in an educational class. They are way too advanced for most agents in a sales meeting type setting. I may use one or two of the simple ones.
The key with the sales meetings or other presentations is to start at whatever level you have confidence in. That may be two minutes. “Hi, I’m John I buy notes. Here’s my phone number call me if you have a note.”
Many brokers would hesitate about giving you 30-40 minutes unless they knew the value that was there anyway. Start out small and add on an idea or illustration here and there as your confidence builds. The key is to meet and network with the agents. Trying to teach them can be like trying to potty train a Buffalo. They don’t care and don’t want to know.
Agents want to know one thing - whose number to dial if they have a problem. Most of them spend their educational dollars and time learning how to put Vanilla Extract on the stove burners to make it smell like you’ve been baking bread. They learn to put brighter bulbs in the house and make real hot coffee that causes the client to have to sit in the ambience of the living room while it cools.
They just aren’t that interested in financing. They just want a number to call. You begin by being the number they call for notes, but progress to being their “one stop shopping” broker for financing by aligning yourself with or opening up a “full spectrum” mortgage company. Financing from A to ZZZ is what appeals to them.
“Call John, if anybody can finance this deal he can!” - is what you want to burn into their brains.
Now, before any agents feel insulted - I am an agent. I’ve dealt with them for over 20 years. The average agent knows way to little about finances, taxes, structuring deals and is in my eyes un-professional as a result.
If you are reading this - it’s not you - it’s the other guy. The one that jumped in for the fast buck, lists properties hoping someone else will sell them and cares little about their client’s problem or how to solve it. An agent that doesn’t spend several thousand dollars a year on education does it because they don’t have it to spend - and they don’t have it to spend because they don’t do it. Scarcity mentality and a “false economy”.