Best way to convert on files when in competition
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  1. #1

    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 ?

  2. #2
    Senior Member Reputation points: 30747
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    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!

  3. #3
    Thank you for your reply. Any other views from others would be much appreciated?

  4. #4
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    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.

  5. #5
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    Is par doing first contract in or in house exclusives?

  6. #6
    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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