How to Build MIStrust in the Note Business

Note Business MistrustSometimes people just make more work of things than need be, and the note business is no different.

I was in the bookstore yesterday. Not looking for anything in particular, but was amazed at the amount of networking books and books in particular about how to build trust among clients and prospects.

For me, it seems easier (and more fun), to simply point out the ways you can build MIStrust.

Want to be a lousy note broker or note buyer?

Here’s how to build mistrust among note sellers and professional referrals in 12 easy steps:

1. Don’t call back when you say you’re going to.

2. Tell the seller you are buying the note personally, even when you are not.

3. Tell the seller that ALL notes sell for hardly anything. “That is just the way it is.”

4. Use the phrase, “take it or leave it” as often as possible.

5. Don’t put any offers in writing.

6. Make sure that when talking to the seller you have the television on in the background (or substitute a screaming child or barking dog).

7. Spend more time talking to the seller than listening.

8. Change the offer price as many times as you can…particularly at the closing table.

9. Tell everyone you are an expert in the note industry…even if you have yet to do a deal.

10. Have a business website full of personal photos including birthday parties and vacations. After all, buying mortgage notes is all about you.

11. Bad mouth other professionals in your field.

12. If you don’t know the answer to a question, just make one up.

Ok, maybe building trust is not rocket science after all. Seems like there is more more work to building MIStrust. And you don’t even need to go buy a book to tell you that!

Finding Cash Flow Notes TrainingDo you have any good ways to build trust or mistrust? Share them below; we would love to hear them.

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Comments

  1. A mistrust with sellers is telling them that their note will not be discounted when you offer them a partial purchase price. Just quote the seller your price, without misleading comments.

  2. Al Ramsey says:

    Be Honest, ………..Think Honest…………..Speak Honest…………Live Honest……………

    Thank You

    Al Ramsey

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