First National Acceptance Company We Were Duped – Twice 1(855)265-3397 BROKERDESK@FNBA.COM fnacbrokers.com/papersource
About First National Buying notes from individual sellers and brokers since 1974
About First National But we have a problem…. 612 notes purchased in 2013 1,197 notes purchased in 2016 But we have a problem….
You think you know, but you don’t
https://www.youtube.com/watch?v=MFzDaBzBlL0&feature=youtu.be The backwards bike View the video at: https://www.youtube.com/watch?v=MFzDaBzBlL0&feature=youtu.be
What we did Collected and analyzed data looking for insights on how to improve performance We have identified 2 simple insights that can help your sales
Dupe #1 Would you rather?
What the data shows
What the data means More phone, less e-mail
The Note Estimator
Why do you think customers prefer the phone over e-mail? Don’t understand the process Have never heard of our company Dealing with a lot of money Don’t trust e-mails. Example: e-mail scam from Nigeria Average age is 55
But you might say… What about e-mail leads when they won’t answer a phone call? They don’t want to make small talk Heck, I’ve had some files close where I’ve never spoken to them at all. It has been by e-mail only!
What I’m saying is… Phone = Effective E-Mail = Efficient Effective VS. Efficient Interaction/ Relationship Transaction/ Task More phone, less e-mail Engage Order Taker
Action Points More phone, less e-mail Our communication over the phone needs to be more engaging/interactive
Dupe # 2 How long would you wait?
How long does it take to get an accepted offer? 70% 64% 60% 50% 40% 30% 20% 14% 10% 7% 7% 3% 2% 2% 2% 0% Month 1 Month 2 Month 3 Month 4 Month 5 Month 6 Month 7 More than 1 Year
A more detailed look First Month First 2 Weeks Second 2 Weeks 64% 84% 16%
Action points Follow up within 72 hours As best as possible 100% of the time
To Recap More phone, less e-mail Follow up by phone within 72 hours
fnacbrokers.com/papersource Thank you! 1(855)265-3397 brokerdesk@fnba.com fnacbrokers.com/papersource