To set the stage, let's quantify the amount
of money these said debt resolution offices, with only 10 agents, are making each
and every month.
Assuming that the average debt resolution
deal is $25,000, and the aforementioned affiliate office that is closing 200
deals per month, is getting 10 of the 15% collected in fees:
- 200 deals at $25,000 equals $5,000,000 per
month in total debt load.
- $5,000,000 x 10% = $500,000 in commissions
generated each month.
- For purposes of clarity, the $500,000 in commissions generated is paid out over time.
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Both models are quite similar. The key difference is that, with the attorney-based model, attorneys resolve the debt versus just anyone (literally) getting on the phone as a representative of the consumer. This is better known as a "back-end debt settlement wedding factory" which, unfortunately, might know what to say, but doesn’t know what to do.
Curiously enough, back-end debt settlement companies are popping up like wedding factories, offering their services - "you sell, we'll settle". It's all just marketing, and the wrong people can be found working in the debt settlement business. This is a result of the fact that there is no barrier to entry, and it's an unregulated industry. These companies are proving to be sloppy, inaccessible and not consumer-friendly.
These factories advertise religiously on Google to lure the "first time" sales offices into their marketing web. Just like the couple looking to get married for the "first time", and who enter into a marriage not knowing what to expect or what to ask, so have sales offices entered into a debt settlement affiliation, also not knowing what to expect or what to ask.
Note: You want to stick with attorney based debt resolution.
So, the downfall of the debt settlement industry has begun as pending legislation looks to particularly favor the attorney-based debt resolution model versus the non-attorney debt settlement model. The thought process is that an attorney has a far greater professional stake at hand should errors be made, whereas the salesperson utilizing the unregulated model will suffer no professional consequences should mistakes and harm to the consumer occur.
Clearly, the answer is to partner with an attorney-based debt resolution company. However, it is of utmost importance to choose one which has stood the test of time, and caters equally to veterans of the industry as to those who are new at offering debt resolution to their clients.
First and foremost, and as any industry veteran will advise you, watch your cash flow; be sure to work with a company that has made a commitment to pay you accelerated commissions within the first 3 to 5 months.
This is a vital component in deferring the expense of leads and client acquisition, as well as covering sales representative’s commissions. Keep in mind that the number one reason new businesses go out of business is because they have exhausted their working capital. Use these recommendations, and you can make life- altering money as a debt resolution affiliate, in perhaps the biggest debt arbitrage this Country has ever seen.
Upon registering with our attorney based debt resolution partner, you'll then begin your debt resolution training which is great for your sales force and is paramount to your company’s success. You might think you know what you're doing and saying - but until you have successfully pitched it yourself, such that you can immediately reply to the client’s questions with cogent answers, training would prove highly beneficial to your bottom line.
Moreover, with the proper debt resolution training, you will begin to close a deal each day per agent. With 10 sales agents, you should be closing 200 debt deals a month. Many don't, but just as many do, so affiliate with a debt resolution company that offers an organized training program that will:
1) Provide complimentary, ongoing introductory debt resolution training for your new sales agents - this allows you to remain focused on your own deals and/or producing agents, recruiting, etc.
2) Arrange interactive conference calls - this enables your sales force to ask questions and get answers, increasing their comprehension of the industry and therefore their success.
3) Offer ongoing sales training via webinars and conference calls
4) Commit to world class customer support.