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darkstar
16014 Posts |
 Posted - 07/08/2008 : 8:50:02 PM
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Mine does and today alone it rang 22 times, ALL FROM LEAVING MESSAGES AND NOT WASTING DIALS OR USING A CRAPPY DIALER THAT JUST BLAZES THRU NUMBERS COSTING YOU $1000s in lost revenue...
Think of how much money that dialer that blazes thru numbers is costing you in lost revenue and since you have no clue since you use one of those(if you do), multiply whatever you even think by ten, I know...Have you never called someone and in the middle of leaving a message they pick up, for whatever reason, screening, late getting to it, etc.?...
I will leave each person I call a message every single time I call, it may be 15 or 20 times, so what, I've proven to myself that messages are a major key to my success and they work...I have people call back after 20 messages and tell they got everyone, just never had the time to call until then...I will call until they buy, die or tell me to stop calling, everyday if need be, if someone makes an inquiry, they are in the market...
Here's a lil psychology behind leaving a message and these are all my beliefs so take it for what you paid for it LOL but I believe you earn time with people in regard to messages and I script my message to that belief...
I believe people will only give me 5-6 seconds at a time, I need to earn the next 5-6 and so on...I WILL NEVER start a message, "hi this is steve from ABC Mortgage"...If you're calling that person cold, in my opinion, you didn't earn the next 5-6 seconds and the chance of them hitting delete, especially if they have a machine full of messages, is high...I want it low by always increasing MY odds since it all boils down to a numbers game, I want the best numbers! :-)
You must 'hook' them every 5-6 seconds with something to make them want to hear more...It's also the reason I never bought crappy homeowner data, it's very difficult to construct a hook-filled script since you have no idea what any of their hot buttons are, again, very low odds, no good for me as I only like playing games I can win...
Going on a tangent here....
Clint once said, "a man's got to know his limitations", do you really know yours?...Now nobody's looking, be honest, do you REALLY know yours?...Well, let me bold enough to say not everyone reading this does...
EVERYBODY thinks they can pick up the phone and be successful, if not, it's the market, lender guidelines and of course THE LEADS SUCK, please don't take this personally, nevermind, if the post fits, wear it!, it MAY BE YOU...
This is NOT the same market and industry it was when many of you got in the business and when you did, sales and phone skills weren't required, a breathe and heartbeat was and you know it...Just because you were successful then means nothing, what have you done for yourself lately?...Better ask yourself that before you let your family down and end up broke working a job you hate waking up to every single day...
I get calls EVERYDAY from LOs with all levels of experience and the first thing they say is I never had to make an outbound sales call...I tell them they're not alone, but I'm thinking to myself, *OMFG, they're in trouble*...The other issue is accents...I'm not being prejudice but you better believe homeowners are to some degree...I also get calls from LOs and I can't even understand them trying to order the leads and if I was a homeowner and they called me, I wouldn't give them the time of day..You have to face that fact if you have a very thick accent, people are prejudice...
So, now that I have some steaming, I really hope not, I'm going to offer a remedy here to hopefully help many turn their business around...
Every coached a team?...Lets use football for an example...If during tryouts a guy can throw the ball 70 yards, you gonna make him the punter or QB?...Why, they're both football players...Right, everyone reading this may be a LO, but we have varied skills that have been so wasted many of you reading this will be broke and gone before you can recover...
I think owners are crazy to think that all LOs that work for them have the same skill sets...Some are better on the phones, some can place and/or structure deals better, some are detail/compliant oriented and some just friggin suck and will never be anything more than a waste of space and resources...Maybe owners need to restructure their infrastructures to more meet the skills of the people they have...Some should live on the phones, some should be structuring and processing and work like an efficient team, it's your company, TELL THEM this is how it's going to be or cya...You can't be afraid to tell someone, you are great on the phone but once you get the app you have no follow or ability to create a compliant file, if you want to stay, you are AppMan and will be paid accordingly...I bet if you thought about it, you could actually get rid of deadweight and function more efficiently with the right people doing what they do best...Maybe creating teams, maybe the one that is great with the lenders and knows all the programs, but has an accent so thick people around the office joke about it(that's a flag) can work with the one that is great on the phone but has no organizational skills...It's unrelaistic to think all of your people will be the best at everything, but you can make sure they're the best at everything they do!...I've had plenty of owners call me and say, "yeah, I only have 2 that are good on the phones", yet I bet all of them are doing the same thing, why?...Just a thought and I'd like to hear yours...
Disclaimer: I in no way meant to insult, or demean anyone, I really want anyone that can, to benefit from this...If you all go out of business I'll have to close all these darn loans myself! ;-) |
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darkstar
16014 Posts |
Posted - 07/08/2008 : 10:31:27 PM
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quote:
Originally posted by Banker0679
sounds like a personal problem ;)
quote:
Originally posted by darkstar
WHY DOESN'T MY PHONE RING???????.
It is, just not mine! :-) |
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genealle
968 Posts |
Posted - 07/09/2008 : 05:35:10 AM
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I had three voice mails yesterday. All from brokers. Two were blasters, one was live. Funny thing, the one "live" message and the live call I took at 8pm last night didn't even have my name right. Each was a different name and neither was the name of the MD that had my phone number prior to me.
Some funky stuff being sold to LO's. |
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Kevinc with DME
13 Posts |
Posted - 07/09/2008 : 06:31:34 AM
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This was very stimulating to say the least! I wholeheartedly agree with you and believe that offices are filled with LO's who cannot Originate loans from beginning to end. I know I have my weak points.
I'm very curious though on some pitches used where you don't introduce yourself with "Hello this is KevinC with DME" (obviously it would be a more professional greeting) and then hearing the borrower say,"who...you're a mortgage company? We don't have/need a mortgage!" Click...
I know a lot has to do with tone of voice. I speak very clearly, stray from colloquial terms unless deemed necessary and do as best I can to earn those next 5 to 6 seconds. Though as of late I've been truly unsuccessful on the phones. Thank Go for networking.
Any tips on a pitch or even a voice mail would be greatly appreciated. I assume if you don't start your pitch with "hi i'm so and so with so and so" you probably wouldn't be leaving voice mails like that either. |
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darkstar
16014 Posts |
Posted - 07/09/2008 : 06:58:51 AM
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>>>I'm very curious though on some pitches used where you don't introduce yourself with "Hello this is KevinC with DME"
If you have a reason, or know of a need or hutton you want to hit based on your targetted audience, you don't have to introduce your company 'first', just you and sink a hook, then you can tell them who you work for...They get the same info, it's just how you present it...
Again, it can be difficult if you're just flat out calling people and in some words or another saying "hi, if I could would ya" because you don't know a need of theirs...
There are many degrees of cold calling depending on who you're calling, if it's only because they're a homeowner, I don't know what to say, I don't like those odds and seems the longer harder road...I guess you can throw some canned phrases out there and some will bite, but you should want better odds than that...
We all have weaknesses, mine is lack of patience and taking on too much, both cost me money... |
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darkstar
16014 Posts |
Posted - 07/10/2008 : 4:04:53 PM
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Today was a good example, for me, how no matter who I talk to, I make money, whether it be a refi or modification type need...Make sure you have an avenue for everyone you talk to and no matter, you win!...Going into your calls knowing that has a great psychological effect as it just doesn't matter who you talk to, as long as you talk!...Of course it doesn't go for everyone you can't refinance, but many of them...For me today, it's the only reason I didn't blank and any day without a goose egg is a good day!...
Build your network!... |
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ritabradley01
2323 Posts |
Posted - 07/10/2008 : 4:57:04 PM
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quote:
Originally posted by darkstar
Today was a good example, for me, how no matter who I talk to, I make money, whether it be a refi or modification type need...Make sure you have an avenue for everyone you talk to and no matter, you win!...Going into your calls knowing that has a great psychological effect as it just doesn't matter who you talk to, as long as you talk!...Of course it doesn't go for everyone you can't refinance, but many of them...For me today, it's the only reason I didn't blank and any day without a goose egg is a good day!...
Build your network!...
I wasn't aware that you did loan mods D. Or do you refer them out.
I agree-I feel like I need to build my network. It would be nice to be able to put people on the right path, if I can't help them personally. The hard part is knowing who is legit. Other than the office I work in my network consist of BO only! And we all know what a crapshoot it is finding legit people here (Just kidding guys!)
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racerx
11093 Posts |
Posted - 07/10/2008 : 5:00:40 PM
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quote:
Originally posted by ritabradley01
I agree-I feel like I need to build my network. It would be nice to be able to put people on the right path, if I can't help them personally. The hard part is knowing who is legit. Other than the office I work in my network consist of BO only! And we all know what a crapshoot it is finding legit people here (Just kidding guys!)
I think you are absolutely correct. Don't trust anyone.
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racerx
11093 Posts |
Posted - 07/10/2008 : 5:01:43 PM
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quote:
Originally posted by darkstar
Today was a good example, for me, how no matter who I talk to, I make money, whether it be a refi or modification type need
Did the space lady pay you? Wow, you are good!! |
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ritabradley01
2323 Posts |
Posted - 07/10/2008 : 5:27:25 PM
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quote:
Originally posted by racerx
quote:
Originally posted by ritabradley01
I agree-I feel like I need to build my network. It would be nice to be able to put people on the right path, if I can't help them personally. The hard part is knowing who is legit. Other than the office I work in my network consist of BO only! And we all know what a crapshoot it is finding legit people here (Just kidding guys!)
I think you are absolutely correct. Don't trust anyone.
What about you Racer? I'll bet you are trustworthy-what's your specialty? |
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darkstar
16014 Posts |
Posted - 07/10/2008 : 6:02:34 PM
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quote:
Originally posted by racerx
quote:
Originally posted by darkstar
Today was a good example, for me, how no matter who I talk to, I make money, whether it be a refi or modification type need
Did the space lady pay you? Wow, you are good!!
She never called, had to finish myself  |
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racerx
11093 Posts |
Posted - 07/10/2008 : 6:16:46 PM
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quote:
Originally posted by ritabradley01
[
What about you Racer? I'll bet you are trustworthy-what's your specialty?
Ha ha..of course I am trustworthy. =) However, the only person here that really knows that is Nico because I've met him and worked with him.
My specialty is just doing a good job for my clients. I suck at sales. I work off referrals only. I guess that makes me an order taker. I can handle that. |
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ritabradley01
2323 Posts |
Posted - 07/10/2008 : 7:18:11 PM
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| Since we're in the training section may I ask how you make a living on referrals only...have you been in business a long time? Are the friend and family of yours or f and f of past clients. Or are the referrals from agents?? |
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racerx
11093 Posts |
Posted - 07/10/2008 : 7:42:17 PM
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quote:
Originally posted by ritabradley01
Since we're in the training section may I ask how you make a living on referrals only...have you been in business a long time? Are the friend and family of yours or f and f of past clients. Or are the referrals from agents??
My husband works, too. I can close one loan a month and I'm okay.
I have been a loan officer for three years, but I processed for seven years before that. The loan officer I processed for is retired (that's why I became an LO) and I occassionally get calls and referrals from her past clients. However, most of my business is from my own clients.
There are a lot of sales tactics discussed on this forum, and that's fine, but some people (I'd say many) hate/distrust sales people. I think I appeal to those people.
I still get lots of referrals, my problem is no one qualifies for one reason or another. =) |
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ritabradley01
2323 Posts |
Posted - 07/10/2008 : 8:14:09 PM
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| Thanks for sharing. I need to be bolder about letting people in my circle know that I do loans. I should be able to get 1-2 a year just on my daughter's friends parents. (SHE knows how to network!) |
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assassin17
3472 Posts |
Posted - 07/10/2008 : 8:27:32 PM
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quote:
Originally posted by Kevinc with DME
Any tips on a pitch or even a voice mail would be greatly appreciated. I assume if you don't start your pitch with "hi i'm so and so with so and so" you probably wouldn't be leaving voice mails like that either.
I refuse to telemarket, but one thing I do when I call anyone is never say "Hi, my name is Greg and I'm calling from Brew City Mortgage." That is telespeak if ever you heard it.
I always, always, ALWAYS say "Hi, this is Greg from Brew City Mortgage" instead.
That "my name is" and "calling from" crap is pure script and corporate-ese, immediately telling them that they have never spoken to you before. My way gets calls returned or listened to, simply because they think they just might know me from somewhere. Maybe I switched jobs? Curiosity will get to them.
Sometimes, all it takes is one different word to go from foe to friend. Practice with friends. Ask which parts sound friendlier. Concentrate on trying to be friendly. Remember, if you are not their friend, you can only be their enemy. |
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darkstar
16014 Posts |
Posted - 07/10/2008 : 9:21:38 PM
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I totally agree with that Greg, but allow me to throw something out there which is a preference of mine and may help!...
I try to place where I work at the end of my intro to keep the attention long enough to sink my hook and stay a 'person' as long as possile...
Again, nothing wrong with your way, but I think as soon as you say, "hi xxxx, this is yyy from zzz a defense wall goes up, it's pretty much human nature and in my efforts to always work with the odds as much in my favor as possible, I believe that lil tweak helps some...I prefer to use,
"...hi, this is steve from the mortage company calling in regard"....
For at least 10 seconds I want them to 'think' it's their mortgage company, as that's all the time I need to sink my hook and create a conversation...I'll never mislead or deceive them, no need, but I want them to hear my hook before I change from a 'person' to a 'company'...I'll become a person to them again thru my rapport building, but I know people and we go from a person, to a company and back to a person if we are good at what we do...You're in a worse position if your ID says a company, they will start off more defensive than they would when they see just a name on there and you don't even get the chance to start as a person, you come out the gate as a company...
Thoughts?
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assassin17
3472 Posts |
Posted - 07/11/2008 : 12:09:59 AM
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I agree, but you have to remember that most of my calls are to someone that has called me first.
But I also do it your way. I get a few words in, mentioning that I am attempting to return a call to my office, before I worry about the company name. Once again, if you are telemarketing you can't stall the company name as much, as it has to be given in a timely fashion. |
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ritabradley01
2323 Posts |
Posted - 07/11/2008 : 10:14:33 AM
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Stephen, I can see your point but it just feels deceptive to me to try to pretend to be their mortgage company, even for just 20 seconds.
Also, some people, when they find out they have been deceived may disengage later in the call or in the process.
I'd rather be completely upfront-I want to base this new relationship on complete honesty and maybe they will be completely honest with me, maybe they won't shop me etc. if they feel they can trust me.
These are just my un-tested ideas but I think brokers overall have a well-deserved bad reputation that we may be able to overcome it if we are scrupulously honest going forward.
quote:
Originally posted by darkstar
I totally agree with that Greg, but allow me to throw something out there which is a preference of mine and may help!...
I try to place where I work at the end of my intro to keep the attention long enough to sink my hook and stay a 'person' as long as possile...
Again, nothing wrong with your way, but I think as soon as you say, "hi xxxx, this is yyy from zzz a defense wall goes up, it's pretty much human nature and in my efforts to always work with the odds as much in my favor as possible, I believe that lil tweak helps some...I prefer to use,
"...hi, this is steve from the mortage company calling in regard"....
For at least 10 seconds I want them to 'think' it's their mortgage company, as that's all the time I need to sink my hook and create a conversation...I'll never mislead or deceive them, no need, but I want them to hear my hook before I change from a 'person' to a 'company'...I'll become a person to them again thru my rapport building, but I know people and we go from a person, to a company and back to a person if we are good at what we do...You're in a worse position if your ID says a company, they will start off more defensive than they would when they see just a name on there and you don't even get the chance to start as a person, you come out the gate as a company...
Thoughts?
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darkstar
16014 Posts |
Posted - 07/11/2008 : 11:19:18 AM
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| I understand your concern Rita, however the presentation is not deceptive...If I would say "YOUR mortgage company, then it's over the top IMHO...Who said we have to say where we work in the first ten words, because a script said so? :-) We do what's comfortable for us and our style as long as we don't lie or deceive!...I hope! |
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racerx
11093 Posts |
Posted - 07/11/2008 : 11:36:09 AM
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quote:
Originally posted by darkstar
I understand your concern Rita, however the presentation is not deceptive...If I would say "YOUR mortgage company, then it's over the top IMHO...Who said we have to say where we work in the first ten words, because a script said so? :-) We do what's comfortable for us and our style as long as we don't lie or deceive!...I hope!
I disagree. While you may not be lying, you are deceiving them. You even admit to it:
"For at least 10 seconds I want them to 'think' it's their mortgage company..."
___________________________________________________
de·ceive
–verb to mislead by a false appearance or statement
____________________________________________________
Wanting to make them believe something that is not true is no diferent than misleading them...even if for only 10 seconds.
You can debate whether it's okay to do this for 10 seconds or not, but I don't think you can say it is not deception.
Rita, you are on the right track. |
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darkstar
16014 Posts |
Posted - 07/11/2008 : 11:45:34 AM
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| You're making a judgement on the first 11 words, not the rest of the sentence, it's in my script so it's not hidden in any way, just not in first 11 words, so we can agree to disagree on this one...We've done that before!... |
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racerx
11093 Posts |
Posted - 07/11/2008 : 12:03:58 PM
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quote:
Originally posted by darkstar
You're making a judgement on the first 11 words, not the rest of the sentence, it's in my script so it's not hidden in any way, just not in first 11 words, so we can agree to disagree on this one...We've done that before!...
I did not make a judgment as to whether it is right or wrong. I just stated that it is deception.
When someone mails you something that looks like a check, are they trying to deceive you? Of course they are. They want to get you to open the envelope.
What's the difference? Whether it is wrong or not can be saved for a different discussion. |
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Chris Clark
5965 Posts |
Posted - 07/11/2008 : 12:57:34 PM
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| My phone doesn't ring because my Internet has been down for the last 4 hours... grrr.... |
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darkstar
16014 Posts |
Posted - 07/11/2008 : 5:42:22 PM
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quote:
Originally posted by Chris Clark
My phone doesn't ring because my Internet has been down for the last 4 hours... grrr....
Sheesh, even in KY we have hardlines, they run on squirrel power, but we got em! |
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crankyusi
436 Posts |
Posted - 07/11/2008 : 6:02:50 PM
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Thanks for the reminder Darkstar, just can't be JoeBlow#23 calling again about about that arm-adjustment coming due. "Question-Based Selling" (author Tom Freese) gives great suggestions on how to start and hold these conversations.
Looks like you read the book Darkstar per your comments on another thread:
Posted - 06/21/2008 : 9:17 PM
If you ask the right questions, find and address their "pain"(their reason to get away from something bad or to get something they want/need), the apps will come, you won't have to steamroll or ask...
I think the bigger issue is getting away from "taking an app" before qualifying the person.. |
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darkstar
16014 Posts |
Posted - 07/11/2008 : 8:35:53 PM
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>>>I think the bigger issue is getting away from "taking an app" before qualifying the person..
Xactly, anyone can get an app, especially from someone you CAN'T help...
>>>Looks like you read the book Darkstar per your comments on another thread:
Nah, can't read, that's why I only post LOL Actually I was mentored by someone that showed me "my gain comes from their PAIN!"...If I can find, address and remedy their PAIN, everyone wins...
He wrote this: http://www.sandler.com/download/9666 it's free and valuable to any sales professional... |
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erikwebster
4029 Posts |
Posted - 07/12/2008 : 10:25:21 AM
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you take the app and then qualify someone, to prejudge someone off computer data is stupid. you never know what the true circumstances of their life are, what their motivation is, etc.
during a full 1003 app a good salesperson should be able to probe for motivation, get some info, and then begin the qualification process from there. |
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darkstar
16014 Posts |
Posted - 07/12/2008 : 11:10:36 AM
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>>>you take the app and then qualify someone
If you don't already know much about them, I agree...
I already know everything but employment, credit and income(assets) and I can get those those thru qualifying...
Qualifying is just done in normal conversation, I ask questions and listen to the answers...If I get the above few unknowns answered satisfactorily(or so close, we have to look deeper), it's time to confirm it with an app and credit pull...There shouldn't be too many surprises if I did my job and qualified properly, the should only be needed to confirm what they told me...
99% of the time, they don't even know they just gave me an app!... |
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