Did you know...

Emotion is a powerful motivator.  Create emotion by getting note holders to picture in their minds how they will see, fell, taste, smell and hear after they receive a lump sum of cash from selling their note.

Upcoming Events

President's Corner

       There are interesting statistics that show people develop a perception about you within the first 30 seconds of a phone conversation and their final opinion of you in the last 30 seconds. Since we are on the phone a lot in the note business, let's look at some phone tips that will boost that final opinion to an on-going positive relationship!

       1. Breathe! Before you pick up the phone, take a deep breath. Most of us are what they call "shallow breathers". We take small breathes in and out and therefore, sound tired when we answer the phone. The goal is to sound like you like what you do and you are glad they called. Practice taking a very big breath and answering the phone at the top of that breathe. You will continue speaking on the exhale of that breath and the caller will hear energy in your voice! You can also practice it when you are making a call and start your breath as the phone is ringing on the other end. You'll be surprised how you will feel using this technique.

       2. Identify yourself. Give your full name and function and or the name of your company. Since they have taken the time to call you, you might answer the phone this way; "Thank you for calling Armstrong Capital, this is Jeff Armstrong, how may I help you?" Hokey, maybe; memorable, maybe; friendly, you bet. One tip that I seem to always repeat, is that of slowing down when you answer the phone or when you call to leave a message. How many times have you had to re-play your answering machine to understand what the person was saying or the phone number that rattled off too fast?

       3. Be Sincere. If we are honest with ourselves, we are all "problem solvers" in some way. People call us on the phone to have a problem answered. Whether it is to get driving directions, or hours of operation or questions about our merchandise, they have a question and want it answered quickly, intelligently and politely.  It is important to put the note holder's needs ahead of ours. A note holder will remember how attentive you were to their needs when they are asked to make a referral. I will have two more phone tips for you next week! Remember, Success Demands Action! Keep on marketing, it’s going to work! TWITA!

Question of the Week

Q - Hi Jeff,

          As a note broker when I submit my pay out agreement to an investor or institutional funder/investor they see my referral fee and then they find a reason to change their price and offer a lower price for the note, what can I do to protect myself from this type of situation? Thank you in advance for your help as always.

                                                           ~ Jay
A - Hi Jay!

          Thanks for the email! I'm not sure what a "payout agreement" is or where you got it from, that's not how we do business. Whatever it is you seem to have been having some issues with investors lowering their price after you send them in an initial package.  Just remember that whatever prices you get from an investor are ALWAYS subject to verification of the information given and ACCEPTANCE of credit, appraisal and title. If they are lowering their prices because of wrong information given to them initially or poor credit or low appraisal or title issues then welcome to the business. Otherwise you may want to use different investors.
As far as I can tell from what you have told me, it's just business. I do not believe that investors would lower their price just because they feel you are making too much money. In some cases I can see an investor having a conversation with you about the size of your fee if you are making more than say 20% because then it might be considered a bit much. But the investors and funding sources that I deal with would not lower their price just because they think I was making too much. Again, maybe you need some new investors.  Good question, hope this helps!

                                                           ~ Jeff

So you want to invest in or broker notes?

Been trying for awhile with limited or no results?

Check out the most talked about, current and innovative educational tools, training, mentoring, assistance and support services in the industry! Updated for 2015, click here to start growing your note business today!

If you have missed any of our Newsletters click here for our

Archived Monthly Newsletters!

If you have a note business question you would like answered in this newsletter just email Jeff!

Get started in the Note Business with the Complete Note Business Starter Package - includes consultation's with Jeff!