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07-15-2020, 04:59 PM #1
- Join Date
- Feb 2020
- Posts
- 14
Best way to convert on files when in competition
I have noticed our department is seeing a lot of contract requests for the same deal. From experience I have noticed that by asking the merchant if they are currently working with any other brokerages or lenders , allows for you to understand if you need to worry about being competitive when pricing your deal.
Any other pointers to help be more competitive ?
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07-15-2020, 05:20 PM #2
- Join Date
- Aug 2016
- Posts
- 486
Perhaps go into every deal with the mindset that you are in a competition. In every interaction with the merchant show your best, be your best, and give your best... And may the best man win!
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07-16-2020, 10:41 AM #3
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- Feb 2020
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- 14
Thank you for your reply. Any other views from others would be much appreciated?
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07-16-2020, 11:51 AM #4
- Join Date
- Feb 2017
- Posts
- 3,395
Give a range of options.
1.30 buy rate, 100 payments, max upsell of 15..... is kinda limiting.
What if it was a longer term?
What if it was a shorter term?
I actually really like Anthony's method at Fundry, but it won't work for all merchants: Buy rate with the daily payment, and then I get to choose the sell rate, but that affects the length of the term, rather than the daily amount paid.
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07-16-2020, 08:43 PM #5
- Join Date
- Dec 2017
- Posts
- 397
Is par doing first contract in or in house exclusives?
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07-20-2020, 09:45 AM #6
- Join Date
- Feb 2020
- Posts
- 14
If the deal is a newly generated opportunity than yes but if it is an existing customer of Par through another ISO your submission would be passed up on due to being an existing customer.
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