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Tip of the Week
Did you know....
The longer the term of a note
the less valuable the note.
The less time a note investor
has to wait to get their money
back the more they are going to
pay for the note. (But be
careful there is such a thing as
too short.)
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Upcoming Events
TBD 2012
Los Angeles, CA
Secrets of Paper
June 2012
Sacramento, CA
RE and Note Intensive
September 2012
Chicago, IL
Secrets of Paper
Fall 2012
San Antonio, TX
Note Symposium
Ask Jeff to come and speak
or teach to your group or at
your event!
Coming Soon
Exclusive
Note-able
Membership
with Videos,
Notes for Sale,
Training,
Tools
and Support! |
For Discounts of up to 50% on selected AC
and SOP Products check out our
2012 Spring Specials!
Quote
of the Week
"The future is not someplace we are going to, but a place we are creating.
The paths to it are not found, they are
made." ~ Jane Garvey
 President's
Corner
Many note business owners
embrace modern technology for
low-cost, or free, marketing and
administration. Technology gives
us the tools, but not the
wisdom. In the book
Winning Through the Art of Words
by Mark Clemente he draws from
the 2,300 year old insight of
Aristotle.
"He who cannot be a good
follower cannot be a good
leader." The best business
leaders make connections through
their communications that
facilitate inter-personal
influence and help achieve
organizational objectives.
"Persuasion is a form of
demonstration, for we are most
fully persuaded by something
when we believe it to have been
clearly demonstrated."
Prove your points in order to
persuade. When talking to
note holders, giving quotes and
marketing materials, highlight
concrete examples of outstanding
transactions you have done for
other note holders that
demonstrate - and substantiate -
your marketing claims.
"There are three things that
inspire confidence in (one's)
character: common sense; a
polite, well disposed attitude;
and a sound moral reputation."
Take stock of professional
accomplishments and
acknowledgements that highlight
your note businesses reputation
and "character" (e.g. brand).
Emphasize these in your
marketing strategies and site
them, where appropriate, in
other communications with note
holders.
"We are what we repeatedly
do. Excellence, then, is
not an act, but a habit." The
defining traits that drive your
business and brand (i.e.,
customer satisfaction, product
quality, innovation). Then
work to actualize them through
your everyday interactions with
note holders and investors.
"Pleasure in the job puts
perfection in the work."
The note business is hard, and
seemingly getting harder."
Whenever possible, communicate
positivism. Always try to
make business exciting and
rewarding for yourself.
Reap the resultant rewards of
your commitment and dedication.
Remember, Success Demands Action! Keep
on marketing, it’s going to work! TWITA!
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Feature Article
In Negotiations, Both
Sides Should be Winners
Here are the results
of a recent
ABCnews.com poll:
What’s the toughest
part of negotiating
a sale?
-
Overcoming
objections, 15.8%
-
Getting them to
sign on the bottom
line, 41.1%
-
Getting your foot
in the door, 42.9%
Most people believe
that the goal of
negotiation is to
get all you can – to
vanquish the
"opponent" as if you
were at war. But
negotiation isn’t
war. It’s trying to
reach an agreement.
And the goal should
always be to make
both sides come out
winners – because
that way you can
continue to work
together smoothly...
Read more... |
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Question of
the Week
Q
- Hi Jeff,
Wow. I called this guy to let him know what our offers were for his Note and
BLEW my ear off. He said that I had greatly insulted him after he spent
20-years building the value of a property to $60.0K and we were ONLY willing
to offer him 20-something thousand and that we were a bunch of crooks. I
attempted to explain that his Note carried a VERY low interest rate and did
not have the market value he thought it did. He didn't want to hear it and
only kept berating me. I was very close to just hanging up on him but
didn't. Any recommendations for the future should something like this come up again?
-
Bob S.
A
-
Well, this could be a case of not
educating the seller on the very first phone call. On that first phone
call as you are building rapport and finding the need you are explaining the
negative factors to the seller. Just as you mentioned the low interest rate, low
down payment, long term, odd type of property, short-term balloon, etc. Whatever
is a negative characteristic you are educating the seller such as "Oh, you only
have a 5% interest rate on your note? Why did you give the buyer a 5% interest
rate? IF the seller could qualify for a 5% interest rate, what didn't they go to
a bank and get a loan and give you 100% of your money? Our underwriter's are not
going to like the low interest rate. That is really going to bring down the
value of your note."
For every negative characteristic you are explaining this to the note holder and
by the end of your first conversation they might even be thinking that their
note is worthless. So when you come back to them with ANY kind of an offer they
will be grateful AND if they really need the money may even accept one of your
options. In addition, you will never be berated again for offering to buy
their note at a discount because they will know up front that their note isn't
worth as much as they thought is was. Good question, hope this helps! Hope this helps!
TWITA!
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For Discounts of up to 50% on selected AC
and SOP Products check out our
2012 Spring Specials!
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
2012, click here to start growing your note business today!
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