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calirep
2 Posts |
 Posted - 08/24/2009 : 09:33:28 AM
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Hello everyone,
i apologize ahead of time if this is a stupid question. but i wanted to know if every new licensed LO(new with no experience) that started day 1 on the job was making cold calls? and nothing but cold calls? basically starting off as a (licensed telemarketer). or, if your experience and training was different, i'd like to hear your experience. thanks. |
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MarkIFC
936 Posts |
Posted - 08/24/2009 : 10:32:19 AM
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If that is all your doing is cold calling for some Broker I hope they are paying you a decent base salary.
Otherwise all you are to them is free telemarketing. |
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GWaldkirch
177 Posts |
Posted - 08/24/2009 : 3:46:34 PM
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| Its the way I started 11 years ago. I still think its the best, quickest and most cost effective way to get business. IF youre not on the phone, youre on break |
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calirep
2 Posts |
Posted - 08/24/2009 : 6:22:25 PM
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quote:
Originally posted by MarkIFC
If that is all your doing is cold calling for some Broker I hope they are paying you a decent base salary.
Otherwise all you are to them is free telemarketing.
nope. no base salary. basically, the only time i get to see or experience any type of information/training is if i have an application filled out by a possible client. and, pretty much every app has been a loan mod. |
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scottymac35
16 Posts |
Posted - 10/03/2009 : 9:20:37 PM
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Yep. I'm a few months into the biz and you HAVE to do it. Sure there are other lead-gen options and marketing systems and blah-blah-blah to implement as you go, but bottomline is YOU HAVE TO GET OUT THERE. Some advertising and buying leads options I have tried have sucked, but I am still trying things like that along with the constant cold-calling.
Nice part is, I've done so much cold-calling that now my visits with realtors are conversations and or meetings with people I now know. Hang in there, it will get better!
Scott |
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mmswjm
1 Posts |
Posted - 10/19/2009 : 03:32:43 AM
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When I started I was "there" no training, no help, just go do it and learn as you go kind of deal.
I worked for a place hoping to learn some but it was basicly a free telemarketing house.
Learn All you can. Use All sources and options that you can. |
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KLandis
5349 Posts |
Posted - 10/21/2009 : 08:54:45 AM
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| I started with a large broker that did a lot of advertising and targeted rate shoppers. I was on the phone all day answering incoming "what's your rate?" calls. It is actually a good way to hone your chops. Phone skills are a must in this business. Once you develop those you can also branch out into establishing a personal referral base and getting better commision splits. Starting out on the phone is how a lot of us got our start. |
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CoralSnake
12474 Posts |
Posted - 10/21/2009 : 10:54:34 AM
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I started off at a place that bought a lot of leads.
Before they would give any new guy the fresh leads (the Glengarry leads) you would call the old leads. Ie. 6-8 months old.
Not much different than cold-calling imho.
I think it is still a good way to learn the business- but you need to get lists or something that is better than calling out of the phone book- But you will get many scenarios pretty quickly and learn what deals make sense and what is crap.
good luck. |
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truthlend
3 Posts |
Posted - 10/23/2009 : 07:46:12 AM
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Calirep, I am doing the same thing, just started, I call everything they give me to call, we have a lot of different leads, some better than others but all are divided equally between new and experienced.
I have 20+ years experience in financial services, stocks, etc so they consider me to have good phone skills and I get help from the experienced guys evaluating leads, qualifying and learning the paperwork.
I am already working on several loan mod applications. If I need help closing one of the senior brokers in the office will split with me.
Let me know how you are doing! |
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CDMoney
5 Posts |
Posted - 11/20/2009 : 3:37:26 PM
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I also started out cold calling, even did title leads aarrgh.
But I did not do that for long, I guess I was luck because I did that for a few weeks and since then I have been working for companies that actually have live call in leads and they spend much in advertising.
I think its key to get in with a place that is solid, advertises, and has hot leads. |
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CDMoney
5 Posts |
Posted - 11/20/2009 : 3:49:20 PM
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I also started out cold calling, even did title leads aarrgh.
But I did not do that for long, I guess I was luck because I did that for a few weeks and since then I have been working for companies that actually have live call in leads and they spend much in advertising.
I think its key to get in with a place that is solid, advertises, and has hot leads. |
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truthlend
3 Posts |
Posted - 11/21/2009 : 08:27:06 AM
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we just started getting live transfer leads in our office. I have taken a few but since I am new and they are supposedly expensive leads, I have to take the info from them and then let a more experienced broker try to close them. The live transfers we are getting are being sourced from telemarketing, not ads, so far in my opinion they are not too much different from the contacts I am making through cold calling.
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