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Alanonic episode or just good business?
March 8, 2005
9:32 am
New Member
Forum Posts: -1
Member Since:
September 29, 2010
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I am a mortgage banker that gets 90% of my business from realtors. In this one case I did a presentation at the realtors office, the owner was "happy" and wanted us to create an agreement where I contribute to his marketing (pay$500/month) and I get referrals for mortgages from their realtors.
I had not really developed a relationship there first which looking back now is preferrable.

I got business from them and it was working out OK although I always felt a little strange when I interacted with the owners...

I then moved from one mortgage company to another and it took 2 months to get the agreement going again with the new co. and the agency owners were not hapyy and I told them I would make it up to them somehow.

Right around the time I got the agreement going again, I noticed I wasnt getting ANY referrals. Now 2 months have gone by with nothing so the last time I was in the office I asked one of the owners if this have been slow and he indicated it was not (another strange interaction though, seems as though something is missing).

Then a week after that I decided I was going to contact the owner and just ask... "do you know of any reason why I have not received any referrals lately"?

This did not go to well...

He said in a nutshell "dont ever call here asking why your not getting referrals! I told you in the beginning the rules and not to ask for referrals"!

I tried to justify my request to him by saying that I was interested in knowing if somehing had changed, if there was somthing I had done or if there was any other reason why I have stopped reciveing referrals..

He said "I know you havent been in this business very long but this is the slow season".

I mentioned that I had been up there and his partner told me things were busy. I also mentioned that I had been getting business from other realtors OK...

Anyway we kept going over this with him "shaming" me for my inquiry and trying to justify it when he finally he said "why dont you quit while you're ahead".

Immediately after this interaction I wanted to cancel our agreement as there have been other issues with this office and this was the straw that broke the camels back. I wrote up the cancellation letter but did not send it. Since then I have spoken to everyone I know about and all of them have pretty much said the same thing. "Move on".

It has been a week and I am still undecided. Another friend suggested that perhaps this is difficult for me because its like trying to do things just right so mommy will love me...

I justify not cancelling tby thining that I mat still get business from them, things will pick up and I'll get deals from the again...there's no reason why not (that I know of).

What do you think? Please help....

March 8, 2005
10:39 am
Forum Posts: 3
Member Since:
September 30, 2010
sp_UserOfflineSmall Offline

what do i think, its hard for me to follow wot your postion is, i'm not hot to trot in the morgage field. However, maybe its just difficult not to win? it depends on your past, maybe its the rejection? who knows all soughts of things can affect us. The important thing is to recognise this in ourselves, and come to some acceptance, then we can finish the business and move on.

hope all turns out

March 8, 2005
12:29 pm
New Member
Forum Posts: -1
Member Since:
September 30, 2010
sp_UserOfflineSmall Offline

I don't know anything about your line of work but if someone your dealing with treats with disrespect for asking questions that's good enough reason to move on plus it doesn't sound like you are getting anything out of it.

March 8, 2005
9:46 pm
Forum Posts: 30
Member Since:
September 27, 2010
sp_UserOfflineSmall Offline

Am I to understand that you are still paying $500/mo (not exactly chump change) and getting no referrals? After a few months of that I would say the writing is on the wall and you're throwing good money away. If you want, maybe wait one more month if you're unsure, then cancel. If business is supposedly good but nothing is coming your way there is no reason for you to support their marketing. There needs to be some sort of return on your investment in their company. You've brought it to their attention and if nothing changes, cancel.

If there is now bad blood between you and this company are there others you can approach? My business is strictly by referral and people who refer me come and go. I could never rely on one source of referrals. Some are steady and regular, others are sporadic. Maybe just explore some options. SD

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