 President's
Corner
Maybe I saw him around the
industry a few times before, I’m
not sure. It could have been at
a Convention or maybe at a Real
Estate Investment Association
meeting. But there he was: the
Devil, himself, in the corner of
the meeting room, holding court
and seeing who’d listen.
He’s got that way, you
know, that certain way about
him. Of course, there are no
horns or cloven hoof or
pitchfork. Nobody would give
him any time if he was that
obvious. And he isn’t red either
- maybe a little wind-burned,
but nothing out of the ordinary.
Anyway, he’s talking
and he’s watching. Of course,
he’s got all the best industry
tools - the websites, the
software and the calculators.
But he talks big and is a bit
more careless with his words
than you or I might
be—especially when talking about
the large transactions he closed
and the seller’s he “convinced”
to sell their note.
Yeah, it sounds
careless, but is it really?
Maybe it’s just bait (in a
manner of speaking). There’s a
bit of a crowd around him at
first. Some are curious; maybe a
few recognize him from somewhere
else. And, human nature being
what it is, of course, that
initial crowd draws the
attention of others. As other
note brokers get out of their
workshops, or finish watching
their presentations, they stroll
over to the group, exchange a
few pleasantries—maybe even a
few lies.
It’s on the eve of
the New Year, you know, and
that’s the hot topic, everyone
wants to know if what they are
doing is going to keep working
or how they should adapt to the
changes in the industry. The
Devil seems to be pretty
informed about the market, about
the highest pay prices, and
funny, he knows all of the
guidelines of every investor by
heart. He also seems extremely
knowledgeable about the various
funding sources and everyone who
uses them. Give him your name
and he can tell you the funding
sources you sell to most and how
much volume you have done.
But small talk and
bragging all have a way of
dissipating, and eventually the
crowd breaks up. The other note
brokers head back to their hotel
rooms, make one last check of
their luggage and head for home.
But not all.
One stays, intrigued
by the last story he heard,
knowing full well, that when he
goes back home he’ll continue to
work hard for the deals he gets.
Besides, he’ll need every penny
he earns for his marketing, his
mortgage payment and to take
care of his family. The note
broker pauses and lets his mind
wander as he looks over the
meeting room. He muses on how it
must feel to hold a check as
large as his annual gross
receipts last year.
And the Devil takes
it all in. He pauses too, and
then boldly asks, “Would you
cheat out there to close a
transaction with a huge paycheck
at the end of it?”
The note broker,
jolted back into the moment
says, “What?”
“Would you cheat to
close a large transaction?” the
Devil repeats.
“Of course not,”
says the note broker.
“Would you cheat for
100 bucks? Maybe charge for a
couple of extra overnight
deliveries?” the Devil asks
again.
“No!” says the note
broker.
“Well,” the Devil
persists. “Would you cheat for a
$1,000? What does 1 month of
bills look like for you,
anyway?”
“No,” the note
broker responds again. “I’m not
going to risk my integrity
around here for a thousand
dollars. Guys know me. I’m on
all the websites.”
“Okay,” says the
Devil. “Let’s make it $10,000.
Would you cheat for $10,000?
Hardly any note brokers make
that much on one deal.”
“Ten thousand,” the
note broker repeats. “No. I
can’t cheat for $10,000, no
way.”
But the Devil has
resources. “All right, then,” he
says. “What if I give you a
million dollars to cheat on your
next transaction? No one needs
to know. I’ve got small bills.
You can open up a couple of
accounts around town and no one
will be the wiser.”
The note broker
wavers. Glancing around to see
if anyone is listening, he leans
forward and says sheepishly, “I
guess I might cheat for a
million dollars.”
The Devil looks
pleased. “Very good,” he
responds. “Now, let me ask you
again. Would you cheat for
$100?”
The note
broker is flabbergasted. “Wait a
minute,” he blurts. “You just
offered me a million dollars to
cheat. What’s with the hundred
bucks?”
“We already know
you’re a cheater,” the Devil
says knowingly. “Now we’re just
negotiating the price.”
While we are all
trying our best to adapt to
whatever the industry throws at
us it is tempting to lie, cheat
or withhold information to get a
transaction to close and fund.
As an industry we must stay
focused on the PATH
(Professionalism, Attitude,
Teamwork and Honor) of being
ethical note brokers and
investors with integrity.
Take stock of your team. Make
sure you know exactly what your
investors and funding sources
can do and find it for them.
Your business may not endure if
you keep doing business the same
old way. Educate yourself, buy
some books, take some classes,
and learn some different
marketing methods, new
approaches or updated
strategies. This is the year
you will unleash your potential!
Remember, Success Demands
Action! Keep on marketing, it’s
going to work! TWITA!
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