Secret Phrase for Annuity Selling

Selling annuities and being able to sell tons of them boils down to a simple concept, being polite. We all want to be nice and want people to be nice to us but being polite is different. I have used this concept for my entire sales life and not only does it work but it becomes the basis of a business plan that is not taught in business schools. And yet it is the full basis for any successful relationship, be polite. How do we use it in our business plan to convert it to sales. If you are basing your sales efforts on building relationships then you are not an annuity salesperson, you are an order taker, an amateur not a professional. How do we begin this process? We do it by learning an very important phrase. A phrase that will transcend your selling efforts to actually becoming a salesperson. What is that phrase and how does it help you to become more successful? The important phrase to learn is ?would it be a bother?? Would it be a bother? What is this actually saying? It is saying may I have permission. It is saying I am polite. It is a link from one subject to another and a powerful tool to change and control a relationship. It does have some limitations and those limitations have to do with your desired target market. If you are working with people who were in their early 20?s during the Korean War, World War II and older as a target market, this is complete power. This generation operated on the premise of ?politeness? ?Would it be a bother? Is based on being polite and can bridge any two subjects and allow you to dig deeper into the relationship. Try this?.?I know Mrs. Jones that you are not in the market for my services but ?Would it be a bother? if I can over this afternoon and just introduced myself?? Dead mortal cinch she will say yes?if she is in this target market age group. You are really asking permission to change a relationship from looking at you as an outsider to one where you may become a friend. ?Would it be a bother? is a bridge from one topic to another and a method to explore more fact finding questions and to seek answers based on how your prospect actually feels. Adopt this attitude into your selling and it will become part of your life. Being polite is the secret of developing suspects to prospects to clients. Once a relationship is developed on being polite almost any question can be asked. With the freedom to ask feeling questions begins the basis of selling annuities. ? Politeness ? Feelings ? Relationships ? Suspects to prospects to clients. It is this approach that sets the true professionals form the rank amateurs. Amateurs make $5ok a year; professionals make $5ok a month. Learn this approach and join the ranks. Bill Broich is a 30 year annuity salesman who helps agents generate annuity leads. Visit his website to learn more - Annuity Selling

Successful Annuity Selling by Becoming a Barber

Have you ever considered the experience in getting a haircut to the marketing of annuities? They are very similar in the process.

Many agents call me and want me to help a specific case with all sorts of contingency issues. The agent wants to make the sale and if he could get some help on a certain point then the prospect will surely buy. Generally this is a situation where the issues are not as clear and the agent thinks. My experience has shown that resistance to buying is based on one thing?a lousy fact finder.

When I encounter this issue in my own practice and a prospect I think should buy will not then I just use the ?barber syndrome.?

NEXT!

It is so much easier to move on to another sales situation than to beat a dead horse to death. Put your energies to work in marketing and finding new prospects than worrying about one prospect. If they haven?t bought after you presented the solution developed in the fact finder?they are never going to buy from you.

The idea of firing the prospect and moving to the next one is totally liberating. It puts you as the salesperson in control and makes the business model work so much better. Our products are not for everyone and our prospects situation can never be put into a prefabricated mold. By retaining control over who you do business with gives you an attitude of control and professionalism. Do not be afraid to fire a prospect and move on. There is always someone else to see and someone else to tell our story too.

Next!

Bill Broich is a 30 year annuity salesman who helps agents generate annuity leads. Visit his website to learn more - Annuity.com

How to Sell Your Promissory Note-Real Estate-Business-Annuity-Structured Settlement

First, the definition of a Promissory Note:

(A promissory note is defined as 'A promise to pay a certain amount of money on a periodic or future lump sum basis, defined by the terms and conditions contained in the Note Document'. Usually, a Promissory Note is constructed during a tangible property sale event where the property seller Takes Back a promise-to-pay (Promissory Note) instead of Cash.)

Owning a promissory note, instead of requiring cash, sounded like a good idea at the time you sold your real estate or business or accepted your Structured Settlement because you would have a guaranteed steady stream of monthly payments at a reasonable interest rate. Right?

Then, you soon found out that:

1. The interest rate you charged is now too low,

2. The payor of the note does not always make the payments on time so you have to call and demand the payments,

3. You have to pay taxes on the income,

4. You figured out that the value of your note diminishes everyday, and,

5. You could put the lump sum of the note money to better or now-needed use.

So, you decide to sell your promissory note.

1. First you went to your bank and they would not buy it nor did they have any information about how to sell it.

2. Next, you asked your friends and one said Find a Note Broker. So, you searched on the Internet and found a million web sites all purporting to be able to buy your note. You talked with a few but did not get any satisfaction or few return calls. Now the frustration sets in.

Here's how the Note Buying business works:

1. Notes are purchased by seasoned, reputable investors seeking long term returns on an investment using their own money. Investors can be individuals, groups, companies, pension funds or specialty funds.

2. A note is valued according to the long term yield to the investor. It?s named, Time Value of Money. Or, a dollar today is worth more than a dollar tomorrow. Therefore, your note can be purchased at a discount or less than its current principal amount in order to provide the investor?s needed long-term-yield.

3. The note yield and value is determined by the Note Interest Rate, the credit score of the note payor, the term of the note, the payment schedule, the Loan To Value Ratio (LTV), the payor's equity in the property, the security for the note and the terms of the note.

4. Your note can be purchased by an investor based on his/her required note type, note criteria and required yield.

5. Note investors specialize in different types of notes. Some buy only 1st Deed of Trust Real Estate Notes or Mortgages, some buy only Business Notes or Annuities, etc. To make a long story short... you do not know if the person you are talking to is a Broker or an Investor or both or what note type, criteria and yield he/she requires. Frustrating. Now you think all note investors and brokers and the whole note buying industry is sleazy, unethical, unprofessional and worthless. Well, I admit that part of that is true for many unprofessional brokers but REAL Investors and REAL Brokers are here, honest, professional and provide a valuable service. How do you know? Just ask him or her if he/she is a Broker or Direct Investor, what types of notes they desire and what is their criteria and process. More on this in another article.

This is what you need to know and do regarding your promissory note:

a. The value of your note is determined by when and how you construct it. When constructing your note, assume you will want to sell it within the first year. If constructed properly and professionally, it will have high value. Professionally means using the services of an experienced Business or Real Estate attorney to construct your Note. Never use one of the simplified Note Forms available anywhere. Think about it... why do you think Real Estate Lenders use exquisite, complex, complete Loan Documents that are constructed for their own lending criteria? Next, Real Estate secured notes are valued on the appraised value or sale price of the property minus the payor equity and the credit worthiness of the payor. Business Notes are valued on the note payor credit worthiness and historic business performance.

b. The highest valued notes are those that the current Note principal amount is not more than:

i. 80% of the sales price of the Real Estate if it's a 1st Deed of Trust Note/Mortgage, or 20% if a 2nd Deed of Trust and the total of a 1st and 2nd doesn?t exceed 80% of the sales price or,

ii. If a business note, 67% of business sale price.

c. The payor responsible for the performance (payments) of the Note credit score must be above 640 (the national average credit score is 678) when you construct the Note (The lower the credit score, the less your note is worth). Always obtain a current Credit Report on the payor before concluding a note transaction. You have the legal right (by virtue of the Federal Fair Credit Act) to request or obtain one because you are going to be their creditor. Go to www.transunion.com and click on Consumer Info to obtain a Tri-Merge credit report (it will provide you a payor score and report from each of the three credit reporting agencies). You will need the payor full name, address, SS# and birth date. You do not need your payor?s approval to obtain their credit report because you are going to be the payor?s creditor.

d. The Note payments should be monthly.

e. The Note terms should be:

i. For Real Estate Notes: 'Amortized Monthly, Payments in Arrears'. Or, Amortized Monthly, Payments in Arrears for 15-30 years with a full Balloon payment due in 5 years. Try not to accept an 'Interest Only, Full Balloon at the end' Terms.

ii. For Business Notes: ?Amortized Monthly, Payments in Arrears for no more than 5 years?.

f. Your Note should carry an Interest Rate tied to Prime + 2%. Prime of this date is 8.25%.

g. Your Business-Promissory-Note should have a Collateralized Personal Guarantee from the payor equal to the Original Principal Amount of your Note. This Collateral should be tangible, like Real Estate, that is owned by the payor outside this note transaction.

h. The above are the basics. Your accomplished attorney should know how to construct your note correctly and know who we are so he can contact us from our web site for knowledge and instruction.

Now, Selling your Note:

1. Your first goal is to receive a cash-purchase-quotation. Only Direct Investors can provide this. A broker will take your information, find an investor, obtain a quote then present you with that quote less his fee. Sometimes Brokers have investors that will pay you more cash than professional investors, but there is usually a catch. Don't get me wrong. Note Brokers serve a valuable purpose.

2. Gather all the information about your note. You can find the note questions you have to have answers for at www.notefundingcenter.com/sellnote.html Here you just click on the ?Type of Note? and a Note information Worksheet displays asking all the questions needed to provide a VALID cash-purchase-quotation.

3. Find a reputable Note Broker or Direct Investor. Search on the Net with keywords ?sell note?, ?note buyer?, ?mortgage buyer?, ?annuity buyer?, 'structured settlement buyer'. You will find us plus hundreds of others. Contact the ones you like and ask questions. Just remember, there are very few REAL direct Investors. Just ask.

4. If you want to use a Broker, (a reputable Note Broker will request specific information about your note; he will package the information and contact us and other Note Buyers he has brokering agreements with). Some will broadcast your note to everyone on the Net. Broadcasting will devalue your note to almost $0.00. So, if you want to use a broker, ask him to provide you with the list of his contracted buyers he is sending it to and agree in writing that he only present your note to those you have agreed.

5. If you want to list your note for sale on the Internet yourself, there are many Note Listing sites where you can list your note and investors will find your note and contact you. This is named 'Broadcasting'. See #4 above.

6. A Note Investor/Buyer like us , will request detailed information about your note before providing you with a cash-purchase-quotation. Logical, right?

7. You should receive numerous phone and email communications from your selected Broker or Investor prior to providing a cash-purchase-quotation. In our case, after 30 years in the business and 50% referral customers, we contact you within 1 day of your note information submission and explain the process, provide you a personal supervisor and ask any additional questions. Then, provide you a cash-purchase-quotation.

8. Your Note cash-purchase-quotation is usually a Net-Cash-To-You quotation. Sometimes it will be "$XXXXX.XX with your provided Appraisal and Title. You should always know what your Net-Cash will be after selling and funding. Just ask.

9. After you accept the cash-purchase-quotation,

a. You will be requested to agree to the note-purchase-quotation and provide certain note related agreements and documents. (You already have the majority of the documents.)

b. The note-funding-processing-service will conduct ?due diligence? on the note, property, documents, credit and history.

c. Assuming all the Note components pass the due diligence, your note will enter into ?Transaction Processing and Funding? and you will receive your cash funds. Normally this process takes up to 30 days.

Bottom Line:

1. Your Promissory Note is your serious financial asset. Treat it with respect.

2. Construct your note so that it is salable at the highest possible Cash.

3. Have all the logical Note information readily available if you want to sell it for the most cash. See our web site for the information and documents needed. Or, email us with your questions.

4. Select a note buyer/investor/broker/listing service that you feel provides you the best service.

5. Inform your existing Note Payor that you intend to sell your Promissory Note of which he is the payor. He will have NO negative effects. The only change he will experience is to whom he makes his existing payments.

6. Don't get caught up in the excitement of the deal.

7. Heed all the above.We are here to help you from beginning to end. Remember, we have been buying Notes for 30 years and respect that this is probably your first and only Note and a valued asset.

notefundingcenter.com

The Author of this article is David Castellini. He is founder and President of Note Funding Center- http://www.notefundingcenter.com, a 30 year buyer of Notes, Mortgages, Annuities and Structured Settlements. He and the company are considered the authority on Future Income Stream Instruments, cash-flow-instruments and seller-financed-notes and seem to provide the most accurate information, best prices and best service. He is also a Banking Consultant and Graduate Business School professor. David can be contacted from our web site.

Fixed Annuity Quotes

People are of two minds about where is the best place to get fixed annuity quotes. Some would say that the best place to get fixed annuity quotes is at the place where you actually intend to buy the insurance as you get all of the information that you need to know "direct from the horse's mouth" as they say. The quotes are direct and would accurately reflect what the institution or insurance company has to offer you as a deal on that day.

Others say that the best way to go about getting fixed annuity quotes is to get them from a broker or look them up on one of the many sites on the World Wide Web that will allow you to compare fixed annuity quotes in nicely designed, easy to read charts. There are absolutely scores of sites on the Internet run by insurance brokers that specialize in comparing fixed annuity quotes specifically so don't be afraid to take advantage of your search engine box to find the rates that are best for you.

The reason that getting them from a broker or a brokerage site is a good idea is that you will get a larger selection or idea of what is actually out there when it comes to fixed annuity rates and terms and conditions. However the fact is that some web sites or brokers are of course there to represent the best interests of their affiliates. In order to make a decision some of these brokers may slant their reviews or assessments of different plans in favor of what they are selling.

Another thing to look out for when shopping for fixed annuity quotes online are claims that seem too good to be true. Don't trust any broker that asks for your social insurance number, banking account number or credit card number by email. This means that you could be a potential victim of identity theft. To avoid this type of grifting you might also want to consider getting your quotes by phoning a broker or by talking to one in person.

Tiffany Walker has finally revealed her annuity secrets online. Read the latest by clicking here: Fixed Annuity Quotes.

Annuity Buyers

Annuities are a series of payments made by an institution like an insurance company to the annuitant (annuity holder) at regular intervals over a fixed time period. Most of annuity buyers are from middle-class families having household income less than $75,000 a year, and their main objective is to have an income after retirement.

According to one survey, the average age of an annuity buyer is 66 years old and retired. Generally these people think that their financial needs after retirement will not be covered by a pension or other employment related retirement funds. They invest in annuity plans to have guaranteed income. A person can purchase an annuity if a lump sum is received like a pension, the sale of land or house or any inherited property.

A potential annuity buyer, particularly first time buyer, should be very careful in deciding the type of the annuity to invest in and on the insurance company to go with. Some annuities offer guaranteed income and some s do not. Some annuities offer returns even after the death of the annuitant, but some types of annuities provide income only for a fixed time period. The excess income over the total premium amount is tax-free in some types of annuities, whereas in some other cases, the excess income is taxable. Therefore, the buyer has to understand the basic types of annuities in order to decide which type is suitable for their financial situation.

The buyer can seek the help and advice of finance professional or annuity broker.

Before purchasing an annuity, the buyer has to understand the payment options. For instance, the company may pay some types of annuities only after the death of the annuitant and some after a fixed time period ranging from five to twenty years. The buyer should know about front-end loading fees, yearly maintenance fees and surrender charges. Another important point to know is the credit rating of the insurance company by agencies like Standard and Poors and Moody?s and Fitch. These agencies assess the insurance company?s ability to meet all of its claims on time. After considering all these criteria, annuity buyers need to select the best annuity to purchase and to later on enjoy.



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