[jotucker1983]

It all began as a summer job but I've gotten so much more success than I would have imagined. I am currently working as a sales rep for a Direct Lender/ Broker hybrid and I'm getting paid 3 - 4 % of funded amount on each deal depending on high/low, not total payback. 80% of the deals we fund are 1.40-1.45 5-6 months In-house funding so these are expensive loans. We do anywhere from 1st to 3rd position ( and some 4ths ). I prospect and close all the deals.

I just got paid a huge check this week closing 7 deals this week but wonder if I'm still getting paid on the lower end. Is it worth it for me to continue working for this company or go independent? Keep in mind i have a strong client base already.

Yes, go independent if everything that you are doing for the Broker can be duplicated independently including how you guys produce data, leads, etc. The only way you would want to stay with the Broker was if you couldn't duplicate the position independently. If you can duplicate it independently you are going to make a lot more money, especially if you are selling 1.40 - 1.45 deals on the "majority" of your deals.

[MCNetwork]

Yes, go independent if everything that you are doing for the Broker can be duplicated independently including how you guys produce data, leads, etc.

Lol this is much easier said than done. This is the number 1 reason why most agents should NOT go out on their own. Not everyone can spend 10K-20K a month on marketing to replicate the lead flow from working for an established shop. If you're just going to hump a dialer on your own all day long that's a different story...

[FUNd]

Lol this is much easier said than done. This is the number 1 reason why most agents should NOT go out on their own. Not everyone can spend 10K-20K a month on marketing to replicate the lead flow from working for an established shop. If you're just going to hump a dialer on your own all day long that's a different story...

From what I've heard, most shops don't give new reps much in the way of "leads" anyway. Almost all of them require upwards of 150 dials and 3 hours of talk time per day. I can't think of a single program for a rep where they sit there all day and wait for the phone to ring or for internet leads to roll in. The 'eat what you kill' philosophy is common, and most shops want their reps to at least meet them halfway, meaning they need to gen some leads through cold calls before they get any purchased leads.

[jotucker1983]

MCN,

Good point, if the company has a large marketing budget to spend $20,000 a month ($240,000 a year) on marketing, then maybe they can produce leads in quantity (and quality) that can't be duplicated independently?

But here's my question, are you going to just sit down all day and work inbound leads that come in? Or, are you going to be required to take a pile of generic data, run through it with a Predictive Dialer and turn a portion of that data into leads?

If the company has it setup to where all you have to do is sit there, wait for the phone to ring or wait for inbound leads to come to you, and all you have to do is "close" them, then okay that makes sense to work W-2. But is that really the setup though?

[MCNetwork]

That's the main point. The largest, highly capitalized shops do the former. The smaller start-up shops do the latter because barriers to entry are low. Top closers who work in the former can make several hundred grand a year and would be crazy to leave their firms. If you are good in a dialer setting and can generate a decent pipeline, then you're obviously talented and should probably go out on your own or try to land a job in a big shop.